C01 Concept Map MKTG4Ce PDF

Preview

Summary

Mindmap intro to marketing...

Description



Chapter 01 – An Introduction to Marketing What is Marketing? Definition of Marketing

The activities that develop an offering in order to satisfy a customer need

The Marketing Concept



Focusing on customer wants and needs so that the organization can distinguish its offerings from those of its competitors



Integrating all the organization’s activities, including product, to satisfy customers’ wants



Achieving long-term goals for the organization by satisfying customers’ wants and needs legally and responsibly



 





The Marketing Company Orientation

The Sales Orientation

The Production Orientation

 

Focus on manufacturing and production quantity in which customers are meant to choose based on what is most abundantly available  Focus on products because of a lack of product options in the market place







 





Hard selling to the customer, who has greater choice thanks to more competition in the market place Sales techniques are established and evolved to convince customers to buy

 



 

 





 

  

A strong emphasis on the marketing concept and development of a more comprehensive approach to understating the customer

Customers are grouped into segments and their needs drive marketing strategy 

Relationship Marketing Orientation

Societal Marketing Orientation





 

 

 

Looking not only at the customer but expanding marketing efforts to include aspects from the external environment that go beyond a firm’s customers, suppliers and competitors Examines longer-term impacts on the customer and the environment 

         

 

 

Focuses on keeping and improving relationships with current customers  Assumes many consumers prefer to keep an ongoing relationship with one organization 

Copyright©2019NelsonEducationLtd

The Evolution of Marketing

  EXCHANGE People giving up one thing to receive another thing they would rather have An exchange involves, two parties, each has something of value to the other, should be able to communicate and deliver, free to accept or reject the offer, each party believes it is appropriate to deal with the other

Marketing Is a Rewarding Career

No matter what discipline in business you choose to pursue, you will have customers

Marketing can provide both financial and personal rewards Careers in marketing are varied and offer may opportunities

Marketing provides customer focus and understanding marketing means understanding your customer

Marketing jobs are present in a variety of industries

The relationship between benefits and the sacrifice necessary to obtain those benefits

MARKET SEGMENTS

Why Marketing Matters

Groups of individuals, families, or companies that are placed together because its is believed they share similar needs

THE MARKETING MIX Also known as the 4Ps refers to product, price, place, and promotion. Each of the 4Ps must be developed to create a strategy to meet the needs of the market segment    

Product – Relates to tangible and intangible aspects of a company’s offering Price – The quantifying of a value in exchange for a company’s offering Place – Activities of making an offering available to the customer Promotion – Informing and persuading the customer to purchase the company offering

Marketing Provides an Important Skill Set Skills developed when learning marketing – how to understand needs, research trends, create an offering, and communicating benefits – all relate back a person’s job search

Marketing Is Part of Everyday Life Being informed about marketing means being an informed consumer Will help discern a good message from a bad one and hold companies that you as a consumer are targeting to a higher standard

Copyright©2019NelsonEducationLtd

Key Marketing Terms

CUSTOMER VALUE

Marketing Is Part of Every Company...