Transcript Cpt 1

MARKETING
GOLDEN
Chapter #1
MARKETING
GOLDEN
Chapter #1
MARKETING
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Chapter #1
MARKETING
►The process of creating,
distributing, promoting, and
pricing goods, services, and ideas
to facilitate satisfying exchange
relationships with customers and
develop and maintain favorable
relationships with stakeholders in
a dynamic environment.
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MS = TM + MM
Marketing Strategy
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TARGET MARKET
A specific group of customers on
whom an organization focuses its
marketing efforts
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MARKETING MIX- The 4 P’s!
Product: Good, service, or idea.
Place/Distribution: Products must be
available at the right time, in the right
quantities, and in convenient locations.
Promotion: Communication- inform and
persuade individuals about an
organization and its products.
Price: Establish pricing objectives,
policies, and prices.
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THE MARKETING CONCEPT
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A philosophy or a way to conduct business
Satisfy customer needs
Affects all aspects of an organization
Allows organization to achieve its own
goals
• Marketing Orientation
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RELATIONSHIP MARKETING
• Establishing long-term,
mutually satisfying buyer-seller
relationships
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VALUE-DRIVEN MARKETING
• Value: Customers subjective assessment
of benefits relative to costs in determining
the worth of a product
• Value = Customer Benefits – Customer Costs
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