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    Chapter1 Marketing Overview

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    Jhonalyn Pangibitan
    Marketing is the process of determining customer needs and wants and developing products and services to satisfy those needs at a profit. It involves planning and executing the conception, pricing, promotion, and distribution of goods and services to create exchanges between the company and consumers. The four Ps of marketing (product, price, place, and promotion) make up the marketing mix that companies use to satisfy customer value and generate a satisfactory profit. Marketing also considers the competitive environment and different types of competition companies may face.

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    Chapter1 Marketing Overview

    Uploaded by

    Jhonalyn Pangibitan
    21 views15 pages
    Marketing is the process of determining customer needs and wants and developing products and services to satisfy those needs at a profit. It involves planning and executing the conception, pricing, promotion, and distribution of goods and services to create exchanges between the company and consumers. The four Ps of marketing (product, price, place, and promotion) make up the marketing mix that companies use to satisfy customer value and generate a satisfactory profit. Marketing also considers the competitive environment and different types of competition companies may face.

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    Marketing

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    Marketing is the process of determining customer needs and wants and developing products and services to satisfy those needs at a profit. It involves planning and executing the conception, pricing, promotion, and distribution of goods and services to create exchanges between the company and consumers. The four Ps of marketing (product, price, place, and promotion) make up the marketing mix that companies use to satisfy customer value and generate a satisfactory profit. Marketing also considers the competitive environment and different types of competition companies may face.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    21 views15 pages

    Chapter1 Marketing Overview

    Uploaded by

    Jhonalyn Pangibitan
    Marketing is the process of determining customer needs and wants and developing products and services to satisfy those needs at a profit. It involves planning and executing the conception, pricing, promotion, and distribution of goods and services to create exchanges between the company and consumers. The four Ps of marketing (product, price, place, and promotion) make up the marketing mix that companies use to satisfy customer value and generate a satisfactory profit. Marketing also considers the competitive environment and different types of competition companies may face.

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    © All Rights Reserved
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    Download as ppt, pdf, or txt
    of 15

    What is Marketing?

    Process by which individuals and


    groups obtain what they need and want
    through creating and exchanging
    products and value with others.


    More simply: Marketing is the delivery
    of customer satisfaction at a profit.



    What Motivates a Consumer To
    Take Action?


    NEEDS - state of felt deprivation for basic items
    such as food and clothing and complex needs such
    as for belonging. i.e. I am thirsty.

    WANTS - form that a human need takes as shaped
    by culture and individual personality. i.e. I want a
    Coca-Cola.

    DEMAND - human wants backed by buying power.
    i.e. I have money to buy a Coca-Cola.



    What Will Satisfy Consumer's
    Needs and Wants?

    PRODUCTS - anything that can be offered to a market for
    attention, acquisition (buying), use or consumption and that
    might satisfy a need or want.

    E.g. usually a tangible item
    SERVICES - activities or benefits offered for sale that are
    essentially intangible and don't result in the ownership of
    anything.

    E.g. - banking, airlines, haircuts and hotels.

    How do Consumers Obtain
    Products and Services?


    Exchanges - act of obtaining a desired object from
    someone by offering something in return.


    Transaction - trade of values between parties. Usually
    involves money and a response.


    Relationship - building long-term relationships with
    consumers, distributors, dealers, and suppliers.



    Core Marketing Concepts



    How do Consumers Choose
    Among Products and Services?


    Customer Value - benefit that the customer gains from
    owning and using a product compared to the cost of
    obtaining the product.


    Customer Satisfaction - depends on the product's
    perceived performance in delivering value relative to a
    buyer's expectations.

    Who Purchases Products and Services?



    Marketing & Sales Concepts Contrasted



    DIFFERENCES BETWEEN
    MARKETING & SELLING.
    MARKETING is the process of determining
    customer wants and then developing a
    product to satisfy that need and still yield a
    satisfactory profit. It is externally focused.
    SELLING is producing a product and then trying to
    persuade customers to purchase it in effect,
    trying to alter consumer demand. It is
    internally focused.
    New Marketing Challenges




    Marketing Environment
    Economic changes in discretionary
    income (what is left after spending for
    basic needs)
    Social - demographic
    Competitive
    Political and Legal
    Technological
    Chapter 1-5
    According to the American Marketing Association,
    marketing is the process of planning and executing
    the conception, pricing, promotion, and distribution
    of goods and services to create exchanges that satisfy
    peoples needs and wants and company goals.
    Marketing Defined
    Chapter 1-3
    Marketing Mix
    Traditional (the 4Ps of Marketing)
    PRICE value placed by a firm on its products and
    services
    PRODUCT unique combination of products
    (tangible) & services (intangible) offered by a firm to
    its consumers
    PLACE manner in which the products & services
    are being delivered to consumers
    PROMOTION methods used to communicate with
    your market
    Competitive Environment
    1) PRODUCT-FORM competition exists among
    companies that make the same class of products &
    services to the same customers at a similar price
    level (e.g. Jollibee & McDonalds)

    2) Category exists among companies that make
    the same kind of products (e.g. McDonalds & KFC)

    3. GENERAL exists among companies that
    offer the same basic service that fulfills the
    basic consumer needs (e.g. McDonalds with all
    restaurants; PAL with all forms of transpo. Including ferry;
    resorts with amusement parks & malls)

    4. BUDGET COMPETITION - exists among
    all companies that compete for consumers
    disposable income (e.g. communication vs.
    entertainment)


    Competitive Environmentv
    (cont)

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