1. CHAPTER 1 An Overview of Marketing Designed by Eric Brengle B-books, Ltd. Prepared by Deborah Baker Texas Christian University Introduction to Marketing McDaniel, Lamb, Hair 9

2. Learning Outcomes Define the term marketing Describe four marketing management philosophies Discuss the differences between sales and market orientations Describe several reasons for studying marketing LO I LO 2 LO 3 LO 4

3. What Is Marketing? Define the term marketing LO I

4. What Is Marketing? LO I Stresses Customer Satisfaction A Philosophy An Attitude A Perspective A Management Orientation A Set of Activities… Products Distribution Promotion Pricing

6. What Is Marketing? LO I Employee satisfaction Greater effort Higher quality Repeat business Growth and profits Stockholder satisfaction More investment

7. Exchange LO I Exchange Chapter PHOTO Here People giving up something to receive something they would rather have.

8. Exchange LO I At Least Two Parties Something of Value Communication and Delivery Freedom to Accept or Reject Desire to Deal with Other Party Conditions for Exchange

10. REVIEW LEARNING OUTCOME LO I Product Price Place Promotion Exchange A B Delivering Value Communicating Value Creating Value Customer value and beneficial relationships

11. Marketing Management Philosophies Describe four marketing management philosophies LO 2

12. Marketing Management Philosophies LO 2 Sales Market Societal Production internal capabilities of the firm satisfying customer needs and wants while meeting objectives satisfying customer needs and wants while enhancing individual and societal well-being aggressive sales techniques and belief that high sales result in high profits Orientation Focus is on…

13. Market Orientation LO 2 Marketing Concept The idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives.

17. REVIEW LEARNING OUTCOME LO 2 Production Sales Marketing Societal What can we make or do best? How can we sell more aggressively? What do customers want and need? What do customers want and need, and how can we benefit society? Orientation Focus

18. Sales and Marketing Orientations Discuss the differences between sales and market orientations LO 3

20. Customer Value Chapter PHOTO Here LO 3 The relationship between benefits and the sacrifice necessary to obtain those benefits. Customer Value

22. Customer Satisfaction LO 3 Customer Satisfaction Chapter PHOTO Here The feeling that a product met or exceeded the customer’s expectations.

23. Building Relationships LO 3 A strategy that focuses on keeping and improving relationships with current customers. Relationship Marketing Chapter PHOTO Here

25. Biz Flix The Jerk LO 3

27. REVIEW LEARNING OUTCOME LO 3 Sales vs. Market Orientations Organization’s Focus Firm’s Business For Whom? Primary Profit Goal? Tools to Achieve Selling goods and services Everybody Maximum sales volume Primarily promotion Inward Sales Orientation Market Orientation Outward Coordinated use of all marketing activities Customer satisfaction Specific groups of people Satisfying wants and needs

28. Why Study Marketing Describe several reasons for studying marketing LO 4

30. Why Study Marketing LO 4 Vital Marketing Activities Assess the wants and satisfaction of customers Design and manage product offerings Determine prices and pricing policies Develop distribution strategies Communicate with present and potential customers

31. REVIEW LEARNING OUTCOME LO 4 Reasons for Studying Marketing Why Study Marketing? Important to Society Important to Business Good Career Opportunities + Marketing affects you every day!