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*Chapter Thirteen * Marketing: Helping Buyers Buy McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. WHAT’S MARKETING? *What is Marketing? LG1 * • Marketing -- The activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings with value for customers, clients, partners and society at large. 13-2 * DEVELOPING a PRODUCT Designing a Product to Meet Consumer Needs LG2 • Product -- A good, service, or * idea that satisfies a consumer’s want or need. • Test Marketing -- Testing product concepts among potential product users. • Brand Name -- A word, letter, or a group of words or letters that differentiates one seller’s goods from a competitor’s. 13-3 SEARCHING for INFORMATION *Providing Marketers with Information LG3 * • Marketing Research -- Analyzing markets to determine challenges and opportunities, and finding the information needed to make good decisions. • Research is used to identify products consumers have used in the past and what they want in the future. • Research uncovers market trends and attitudes held by company insiders and stakeholders. 13-4 COLLECTING SECONDARY RESEARCH DATA * Collecting Data LG3 * • Secondary Data -- Existing data that has previously been collected by sources like the government. • Secondary data incurs no expense and is usually easily accessible. • Secondary data doesn’t always provide all the needed information for marketers. 13-5 COLLECTING PRIMARY RESEARCH DATA * Collecting Data LG3 * • Primary Data -- In-depth information gathered by marketers from their own research. • Telephone, online and mail surveys, personal interviews, and focus groups are ways to collect primary data. 13-6 The MARKETING ENVIRONMENT *The Marketing Environment LG4 * 13-7 The CONSUMER and B2B MARKET * Two Different Markets: Consumer and B2B LG4 * • Consumer Market -- All the individuals or households that want goods and services for personal use and have the resources to buy them. • Business-to-Business (B2B) -- Individuals and organizations that buy goods and services to use in production or to sell, rent or supply to others. 13-8 * MARKETING to CONSUMERS The Consumer Market LG5 * • The size and diversity of the consumer market forces marketers to decide which groups they want to serve. • Market Segmentation -- Divides the total market into groups with similar characteristics. • Target Marketing -- Selecting which segments an organization can serve profitably. 13-9 * The CONSUMER DECSION MAKING PROCESS AND OUTSIDE INFLUENCES The Consumer Decision-Making Process LG5 * 13-10 KEY FACTORS in CONSUMER DECISION-MAKING *The Businessto-Business Market LG6 * • Learning • Reference Groups • Culture • Subcultures • Cognitive Dissonance 13-11 B2B MARKET DIFFERENCES *The Business- • There are relatively few customers. to-Business Market LG6 * • Customers tend to be large buyers. • Markets are geographically concentrated. . than emotional. • Buyers are more rational • Sales are direct. • Promotions focus heavily on personal selling. 13-12