Post on 18-Mar-2018
Marketing Defined
● What is Marketing?● A strong interest in consumers● anticipating, managing, and satisfying demand via
the exchange process● Satisfaction of demand involves:
● Product availability● Performance of product● Safety Perception● After sale service
Evolution of Marketing
● Sequence of Stages● Barter Production Sales Marketing
● Modern Marketing begins with the industrialization of society
● As competition grows better designs, distribution, promotion and pricing develop
● All key decisions are made following consumer analysis
Consumer Analysis
● Demographics● Target Market
● Feedback● Needs Assessment
● What is lacking from current products● Has a brand new need developed
Selling vs. Marketing
● Selling- tries to increase consumption of a product
● Marketing- stresses consumer analysis and satisfaction, adapts to changes in consumer traits and needs
● Describe a product that has changed to meet consumer traits and needs?
Demands
● Consumer Demand● The attributes and needs of final consumers,
wholesalers, and retailers
● Publics’ Demand● The attributes and needs of employees,
stockholders, government agencies, etc
● EXCHANGE- their money or promise to pay for the good, service, idea, etc.
Markets
● Consumer● Personal use
● Looking to: ● save money, ● make life easier ● improve status
● Industrial● Business to business● Used in company
operations
● Looking to● Improve profits● Increase sales● Change efficiency
Share, segmentation and targeting
● Share- your piece of the total sales volume● Your sales/market sales *100= Percentage share
● Target market- group identified for a specific marketing program● Consumer vs. Customer
● Customer profile- Info about the TM● Age, gender, occupation, ethnicity, lifestyle,
residence, etc.
Product
Poland Spring
● Brand● Value/Taste● Multiple Distribution sites
Stop and Shop Water
● Generic● Price● Stop and Shop Markets
Promotion
● Delivering information about a product● Paid for media (TV, radio, newspaper, internet ads)● Sponsorship, direct mail, trade shows● A promotional plan can have a wide range of
objectives, including: ● sales increases, ● new product acceptance, ● competitive retaliations● creation of a corporate image