Download Marketing Essentials/I

Unit 1
What is
Marketing?
The 5 P’s
MARKETING:
The connecting link,
or bridge, between
the producer and
the consumer.
Producer
Consumer
MARKETING IS:
The process of planning the
product, executing the
conception, pricing,
promotion, and distribution
of ideas, goods, and
services to create
exchanges that satisfy
consumer wants and needs.
Planning
Pricing
Place
(Distribution)
Promotion
People
THE 5 P’S:
MARKETING is a PROCESS and
involves the 5 P’s:
PLANNING the Product
PRICING
PLACE (Distribution)
PROMOTION
PEOPLE (The Target
Market)
Planning
Pricing
Place
Promotion
People
WHAT IS
MARKETING?
Definition: The process
of developing,
promoting, and
distributing products
in order to satisfy
customer’s needs
and wants.
MARKETING IS ALL AROUND
US~
SALES
R EPR ES EN TAT IV ES
SIGNS
TELEMARKETERS
DISPLAYS
JUNK MAIL
INTERNET
BANNERS
VIDEOS,
BROCHURES
PRODUCT
PLACEMENT
NETWORKING
THE 5 P’S =THE
MARKETING MIX
>Decisions a business must make.
>Depends on Target Market being clearly
defined.
___________________________
1)Product Planning- 1)Make a decision about the
product.
2)Produce the Product.
2)Pricing- 1) To Sell (value)
2) To Make a Profit.
3) To be Competitive
3)Place (Distribution)-
(Con’t)
1) Packaging
2) Storage
3) Shipping
4) Receiving (Inventory)
5 P’S/THE MARKETING MIX (CON’T)
4)Promotion- 1) Advertising
2) Publicity
3) Public Relations
4) Displays
5)People-
1) Consumers
2) Customers
_______________________________________________
What is the difference between a Consumer and a
Customer?
WHAT IS MARKETED?
Nondurable Goods
>Yogurt
>Gasoline
>Cosmetics
Services
>Airline Travel
>Banking
>Wedding Planners
People
>Athletes
>Musicians
>Ourselves
Durable Goods
>Desks
>Computers
>4G phones
Places
“Get Out There” (RCCL)
“Ski Washington.com”
“Go Hawaiian”
Organizations
>WEA
>NCAA
>NFL
>The Red Cross
Ideas
>”Litter and It Will Hurt”
> “Buzzed Driving Is Drunk
Driving
PRODUCTS~INCLUDES IDEAS,
GOODS, AND SERVICES, WHICH
HAVE MONETARY VALUE AND
SATISFY CUSTOMERS’ NEEDS AND
WANTS.
Goods:
The kinds of
things that
you can
touch or
hold in your
hand;
TANGIBLES
Services:
The kinds of
things that
you can’t
physically
touch;
INTANGIBLES
EXCHANGES=VOLUNTARY
PURCHASES
(EXCHANGES TAKE PLACE
EVERY DAY!)
BREAKING DOWN THE 5 P’S
(MARKETING MIX)
Planning the
Product
1) Make a
decision
about the
product
2) Produce
It
Pricing
1)To Make a
Profit
2)To Be
Competitive
3) To Sell
(Value)
DISTRIBUTION(PLACE):
1)Shipping
(transporting)
2)Storing
(warehousing)
DISTRIBUTION (CON’T)
3)Packaging
4)Receiving
THE REST OF THE 5 P’S…
Promotion
1) Advertising
2) Publicity
3) Public
Relations
4) Displays
People= The
Target
Market
1)Customers
2)Consumers