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Chapter 1- Marketing is All Around Us
Transcript of Chapter 1- Marketing is All Around Us
Question?--What things have you bought or were bought for you?
a product you like or use---keep in your mind
marketing-process of planning, pricing, promoting, selling, and distributing ideas goods and services.
what about people?
7 functions of marketing
how to get GOODS from HERE
to the CUSTOMER'S hands!
2. FINANCING- - respect the Q
to set up yo bidness
3. marketing information mgmt
gathering info about customer needs and trends and competitor products
4. PRICING- determine how much does it cost?
5. PRODUCT/SERVICE MANAGEMENT
6. P R omot I on
Persuade the customer
Remind the customer
Inform the customer
types of promotion?
providing customers with goods they want or need
Food for thought?-- how has the internet changed
the WAY products are MARKETED?
NEW AND IMPROVED PRODUCTS
products can be produced at a larger quantity
products can be produced at a lower price
What can a company do when the
cost to produce a product lowers?
UTILITY + VALUE
FORM utility- changing raw materials or putting parts together
to make them more useful.
what form added utility has the cell phone undergone since the days of SAVED BY THE BELL?
PLACE utility- having the product where customers can buy it.
where on earth?
TIME utility- having a product available at a certain time of year
or a certain time of day.
POSSESSION utility- allowing cutomers to take legal ownership of a product
INFORMATION utility- commuting information about a product
THINK---what is the purpose of an umbrella?
PAIR--- find your partner
SHARE--- tell your partner
tell each other--- find one person and tell them something
new you learned today!
The FUNdamentals of marketing--
market- all people who share similar needs and wants
and who have the ability to purchase a given product.
industrial market (B2B- business to business)
make life easy
What are the similarities?
percentage of the TOTAL sales volume generated by all companies that compete in a given market.
SEARCH ENGINE MARKET SHARE
targetmarket- the group identified for a specific marketing program.
THE FOUR p'S OF MARKETING
Age Income Ethnicity Occupation Geographic Location
Product-- a company must choose what products to sell
Place-- a company must choose where to sell the products
Price-- a company must determine what price to sell the products
Promotion-- a company must decide how to advertise, promote, publicize a product