Marketing Chapter 13 PDF

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Summary

Overview of Marketing...

Description

Chapter 13 Marketing I.

Marketing

Marketing Definition: the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients and partners, as well as society at large. Helping sellers sell, Helping buyers buy. Four Eras 1. Production Era 2. Selling Era 3. Marketing Concept Era 4. Customer Relation Era Marketing Concept 1. Customer Orientation 2. Service Orientation 3. Profit Orientation Customer Relationship Management Definition: the process of learning as much as possible about present customer and doing everything you can over time to satisfy them

II.

Marketing Mix

Four P’s 1. Product 2. Price 3. Place 4. Promotion

Marketing Mix Definition: ingredients that go into a marketing program

Product Definition: Physical good, service, or idea that satisfies a want or need, plus anything that would enhance the product in the eyes of the consumer. Brand Name Definition: word, letter, or group of words or letters that differentiates one sellers good and services from those of competitors. Promotion Definition: consists of all the techniques sellers use to inform people about and motivate them to buy their products or services. Advertising, personal sellings, public relations, publicity, word of mouth

III.

Providing Marketers with Information

Marketing Research Definition: the analysis of markets to determine opportunities and challenges and to find the information they need to make good decisions. Process 1. Define the question and determine present situation 2. Collecting research data 3. Analyzing the research data 4. Choosing the best solution and implementing it Primary Data Definition: the results of new studies

Focus Groups Definition: a group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products or other given issues.

IV.

The Marketing Environment

Environmental Scanning Definition: process of identifying factors that can affect marketing success.

V.

Two Different Markets

Consumer Market Definition: Consists of all the individuals or households that want goods and services for personal consumption or use and have the resources to buy them. Buissness to Buisness Market Definition: all the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent or supply goods to others.

VI.

Consumer Market

Market Segmentation Definition: dividing the total market into groups with similar characteristics Target Marketing Definition: Selecting which groups or segments of an organization can serve profitably.

Geographic Segmentation Definition: dividing by cities, counties, states or regions Demographic Segmentation Definition: Age, income and education level Psychographic Segmentation Definition: groups values, attitudes and interests

Benefit Segmentation Definition: determining which product benefits your target market prefers and using those benefits to promote. Volume Segmentation Definition: dividing by usage (volume of use) One-One Marketing Definition: developing a unique mix of goods and services for each individual customer. Mass Marketing Definition: developing products and promotions to please large groups of people. Relationship Marketing Definition: tends to lead away from mass production and towards custommade goods and services

VII.

VIII.

Buisness-Buisness Market

Prospects in Marketing...