marketing concept & mix · marketing concept the marketing conceptis the idea that a business...
TRANSCRIPT
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I N T R O D U C T I O N T O B U S I N E S S & M A R K E T I N G
Marketing Concept & Mix
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Review
What is marketing? Process of developing, promoting & distributing goods &
services to meet consumer wants & needs
Develop
Promote
Distribute
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Review
Needs vs. Wants Needs = essential Wants = desired
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Review
Goods vs. services Goods – tangible (can touch)
Services – intangible (can’t touch)
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Review
Exchange Takes place every time something is sold in the marketplace.
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Review
Marketing Functions:1. Financing
2. Marketing Information Management (MIM)
3. Product/Service Management (PSM)
4. Pricing
5. Distribution
6. Promotion
7. Selling
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Review
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Marketing Concept
The marketing concept is the idea that a business should:1) strive to satisfy customer needs and wants while
2) generating a profit for the business
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Marketing Mix
The Marketing Mix: “The 4 P’s”
The tools that marketers use in order to influence potential customers
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Marketing Mix
The Marketing Mix: “The 4 P’s”
ProductPlacePricePromotion
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The Marketing Mix
Product: what you are selling packaging (design, color, size, brand
name) quality
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The Marketing Mix
Place: where it is sold snowshoes in Maine or Texas? retail store or boutique?
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The Marketing Mix
Price: how much it costs refers to the exchange how much are customers able and willing
to pay? (demand) is the price competitive w/ other products? can the company make a profit?
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The Marketing Mix
Promotion: how customers become aware of a product advertising (most familiar form) personal selling sales promotions/discounts
• coupons, rebates, sales, give-aways
publicity
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The Marketing Mix
Because of the importance of the customer, some marketers are now adding a fifth “P” to the mix…
People
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The Marketing Mix
Product Price
Place Promotion
People
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Marketing Mix Project
Students will work in pairs to create a colorful, eye-catching, 4-sided/4-part project to display The Marketing Mix parts:
Will present next classHAVE FUN & BE CREATIVE!
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Examples
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Marketing Mix Project
Students will work as a pair and create a colorful, eye-catching, 4-sided or 4-part project to display The Marketing Mix: i.e. car, flower, clover, sun, bug, ipod these will be presented next class