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Chapter 8
The Marketing Environment
The Marketing Process
 Marketing = the process of developing,
promoting, and distributing products,
 The Marketing Process
Developing new products and services
involves studying consumer behavior
Market Research = using tools to find out
buyers’ needs and wants
 Promoting Products= making people
aware of the product – advertising, radio,
 Distributing Products = the process of
getting the product to the consumers
Examples = “web sites”
The Marketing Concept
 Marketing Concept= the idea that an
organization needs to satisfy its customers
while also trying to reach its
organizational goals
 Target Market= a specific group of
consumers that you focus on
The Marketing Mix
Name of product, how to package, or design it
What are people willing and able to pay
Cover costs as well
Distribution – how to get products to consumers
Media outlet
Concept of Utility
 Utility = Adding value to the product through placement,
information and exchange
 PLACE UTILITY= impulse buying is one example
 TIME UTILITY= holiday sales, Spring Break, etc.
 POSSESSION UTILITY= cash, credit, gift certificates
 INFORMATION UTILITY= product display, packaging
The Marketing Plan
 Marketing Plan= a written document that
provides activities of a company for a
specific period of time
 Mission – a business’ purpose or goal
Environmental Analysis
SWOT Analysis
Internal Factors=
operations, departments, etc
Qualities that give
A business
a competitive advantage
Qualities that give
a business a competitive
External Factors=
competition, demographics
Features or events
that could benefit
the business
Features or events
that could damage the
Other External Marketing Factors
 Demographics = describe a population
such as age, gender, income, education,
 Economics= taxes, real estate, income
 Politics – 9-11
 Technology= internet
Setting Goals and Objectives
 Goal = desired outcome
 Objectives= steps that lead to the goal