By:

Ian

Jackson

Jordan

Marketing Basics

Types of marketing activities

• Advertisements

• Packages of products

• Product Description

• Sales people

Marketing Activities

-Include advertising agencies and marketing research firms

-Shipping and delivery companies provide express pickup and delivery

-Financial services companies help with credit card management

-Wholesalers and retailers are in part of the distribution, storage, and sales of products

Marketing Business

-Product and service management

-It is designing, developing, maintaining, improving, and acquiring products.

-Distribution

-Involves the decisions on satisfying the customers needs for the certain product.

-Selling

-Communicating with the customers of interest to determine the needs.

-Marketing-information management

-To improve the business decision-making by obtaining, managing, and the using the marketing information.

-Financial analysis

-Budgeting for marketing activities and obtaining necessary funds.

-Pricing

-Communicating the value of the product.

-Promotion

-Communicating the product to potential customers.

Marketing Functions

Marketing strategy- A company’s plan

Target market- A specific group of customers

Marketing mix- Blending the four marketing elements(product, distribution, price, and promotion)

Marketing Planning

Most companies adopt a marketing orientation

-Marketing Orientation: Considers the needs of the customers

This prevents the business thinking that they know what the customers want

The company then develops a marketing mix

Develop a Successful Marketing Strategy

There are two types of customers

Final Consumers: People who buy the products

Business Consumers: People, Companies, and or Organizations that purchase products for their business

Understand Customers

It’s the sequence of customers follow to a make a purchase of a certain product.

All decisions by the consumers must meet a certain need of some sort.

In order for you to make a decision you need to obtain an urgency and importance of the need.

Consumer Decision-Making

They are the reasons why consumers decide on what products and services they want or need.

Emotional buying motives:

Reasons why a consumer makes a purchase based on his/her feelings, beliefs, and attitude.

Rational buying motives:

Usually guided by facts and logic for a consumer to buy a product or a service.

Buying Motives