3. What is marketing?
Process of planning
and executing the
conception, pricing,
promotion, and
distribution of
ideas, goods, and
services to create
exchanges that
satisfy individual
and organizational
objects.
17. Marketing Orientation
An approach that considers the
needs of customers when
developing a marketing mix.
• Do not assume what customers want.
• Use research to study customers and
their needs
19. Understanding Customers
Final Consumers
Are persons who buy products and services
mostly for their own use.
Business Consumers
A persons, companies, and organizations that
buy products for the operation of a
business, for incorporation into other products
and services, or for resale to their customers.
20. Understanding Customers
Consumer Decision Making Process
The specific sequence of steps consumers
follow to make a purchase.
1. Recognize a need
2. Gather information
3. Select and evaluate alternatives
4. Make a purchase decision
5. Determine the effectiveness of the decision.
21. Understanding Customers
Buying Motives
The reason consumers decide what products
and services to purchase.
1. Emotional buying motives
love, fear, self-image
2. Rational buying motives
economy, comparison in cost
22. What did you learn?
The best definition of marketing is…
A. Promotion and selling
B. Producing and distributing products and
services to customers
C. Finding customers and convincing them to
buy your products
D. None of the above
23. What did you learn?
The best definition of marketing is…
A. Promotion and selling
B. Producing and distributing products and
services to customers
C. Finding customers and convincing them to
buy your products
D. None of the above
24. What did you learn?
The two steps in a marketing
strategy are…
A. Developing a product and promoting it to
consumers
B. Identifying a target market and developing
a marketing mix
C. Conducting marketing research and
planning production
D. Pricing a product and distributing it to
customers
25. What did you learn?
The two steps in a marketing
strategy are…
A. Developing a product and promoting it to
consumers
B. Identifying a target market and developing
a marketing mix
C. Conducting marketing research and
planning production
D. Pricing a product and distributing it to
customers
26. What did you learn?
Which of the following is an
example of rational buying?
A.
B.
C.
D.
Valentine’s Day
Fear
Mother’s Day
Economy
27. What did you learn?
Which of the following is an
example of rational buying?
A.
B.
C.
D.
Valentine’s Day
Fear
Mother’s Day
Economy
30. Steps in
Marketing Research
1. Define the marketing problem.
2. Study the situation.
3. Develop a data collection
procedure.
4. Gather and analyze information.
5. Propose a solution.
31. What are different types
of research studies
or ways to collect data
information?
32. PRODUCT
Everything a business offers to
satisfy a customer's needs.
It starts with a basic product. Which
is the simplest form of the product.
33. PRODUCT
Options – when customers are
offered choices of features.
Brand Name – provides a unique
identification of a company’s
products.
38. Other Forms of Mass Promotion
Publicity
Non-paid promotional communication
presented by the media rather than by the
business or organization that is being
promoted.
39. Other Forms of Mass Promotion
Publicity
Non-paid promotional communication
presented by the media rather than by the
business or organization that is being
promoted.
40. Other Forms of Mass Promotion
Public Relations
An ongoing program of non-aid or paid
communications.
Planned to favorably influence public opinion
about an organization.
41. Other Forms of Mass Promotion
Sales Promotion
Includes activities and materials designed to
reinforce a company’s brand and image.
Incentive to take action!
47. Supply and Demand
• A product with a ready supply will
have a lower price than a product
with a very limited supply.
• If demand for a product is
high, prices will increase.
48. Uniqueness
• When a product has few close
competitors because it is
unique, the price will be higher
than products that are very similar
to others.
49. Age
• When products are first
introduced to the market, prices
will be quite high. As products
age, the price gradually decreases.
• Example – flat screen TV’s
50. Season
• High prices just before or at the
beginning of a season
• Low prices during other times of
the year
• Example – winter apparel, holiday
decorations, etc.
56. Operating Expenses
All expenses of operating the
business that are associated with
the product.
• Salaries
• Storage
• Display equipment
• Facilities
• Taxes
57. PROFIT
Amount of money available to
the business after all costs and
expenses have been paid.
