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Transcript
1 The Meaning of Marketing Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-1 C HAPTER O BJECTIVES 1. What is marketing? 2. What is the marketing concept? How has marketing changed? 3. What are marketing functions? Who performs them? Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-2 O BJECTIVE 1 What is marketing? Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-3 D E F I N E D Marketing is an organizational function and a collection of processes designed to plan for, create, communicate, and deliver value to customers. Marketing also builds effective customer relationships in ways that benefit the organization and its stakeholders. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-4 E X P L A I N E D Marketing Organizational Function Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Collection of Processes 1-5 O RGANIZATIONAL F UNCTION E X P L A I N E D CEO Finance Marketing Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Human Resources Production 1-6 C OLLECTION E X P L A I N E D OF P ROCESSES Assemble Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Price Promote 1-7 C REATING VALUE FOR C USTOMERS E X P L A I N E D Value $ Marketing is much more than just developing, advertising, and selling a product – it is about creating value for customers, which in turn keeps customers coming back again and again; this allows the organization to generate profits (or to meet other organizational goals). Value is derived from the economic concept of utility, which is the satisfaction one receives from owning or consuming a product or service. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-8 U NDERSTANDING THE M ARKET E X P L A I N E D It's even more important to get to know your target market. If you don’t know who is in your market, you won’t be able to reach them, and you won’t make money. If you don’t know what they want, you'll have no chance of satisfying their needs. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-9 M ORE A P P L I E D THAN JUST PRODUCTS Events Causes / Ideas Products Marketing Places Services People Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-10 O BJECTIVE 2 What is the marketing concept? How has marketing changed? Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-11 D E F I N E D The Marketing Concept is an organizational philosophy dedicated to understanding and fulfilling consumer needs through the creation of value. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-12 T HE M ARKETING C ONCEPT E X P L A I N E D Value Customer Relationships Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Customer Loyalty 1-13 T HE M ARKETING C ONCEPT A P P L I E D Commitment to delivering superior customer satisfaction. Competition has been a key reason in the development of the marketing concept, which is an organization’s commitment to providing superior customer satisfaction. The marketing concept did not become widely used by businesses until the latter part of the 20th century. Marketing has progressed through various eras. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-14 E VOLUTION OF M ARKETING A P P L I E D How has marketing changed? Seller’s Market Production Orientation 1850 Buyer’s Market Sales Orientation 1930 1908 Model T 1st Sold Consumer Orientation 1950 Relationship Orientation 1980 Today 1945 World War II Ends 1929 Great Depression Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1980’s Global Competition 1-15 O BJECTIVE 3 What are marketing functions? Who performs them? Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-16 D E F I N E D Marketing Functions are activities performed within organizations that create value for specific products or services. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-17 M ARKETING F UNCTIONS A P P L I E D The Organization Finance CEO Marketing Human Resources Production Customers Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-18 I NTERNAL M ARKETING PARTICIPANTS A P P L I E D Board of Directors Top Management Marketing Stakeholders Other Business Departments Marketing Department Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-19 T HE 4 P’ S OF M ARKETING A P P L I E D Product Price Customer Place Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Promotion 1-20 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-21