presented by robert cascio doctoral candidate, department of marketing, university of central florida

what is marketing?  American Marketing Association definition: “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

what do people in marketing do? segmenttarget position

segment  identifying deliberate, specific groups of individuals with one or more common characteristics.

target  prepare and deliver specific messages aimed at these deliberate, specific groups of individuals.

position  strategically determine how the product or service is perceived in the minds of the customers.

segment, target, position  how do we do this?

4P’s of marketing productpricepromotionplace

product  the tangible good or the intangible service we want consumers to purchase  a collection or bundle of benefits being offered  can include an actual item and the customer service or guarantee that comes with it  what the consumer perceives is most important – this means how it is positioned

price  cost of the item  payment terms – immediate or delayed  method of payment – cash, bank card, paypal, personal check, invoice, online payment  what is most important is the value perceived by the customer – price can influence this value.

place  how can the product be acquired  exclusive distribution or non-exclusive distribution  retail store  internet  only in certain countries or cities  what is most important is the consumer’s perception from the choices that marketers make with regard to place.

promotion  how do we tell consumers about our product or service  what specifically do we tell them?  where do we tell them this?  who or what tells them this information?  how often do we tell them?  why do we tell them?.

promotion mix  advertising  publicity  public relations  personal selling  direct marketing.

summary: 4P’s of marketing productpricepromotionplace

why people choose marketing? – 4F’s financialfreedom flexibilityfun

financial  anyone interested in a good income?  paid according to performance, particularly in sales  many top corporate executives are from marketing backgrounds.

freedom  limited desk and office time  excellent career opportunities  positions are self-funded  marketers are revenue creators  sales is recession proof.

flexibility marketing encompasses many functions: – product development – pricing strategies – distribution methods – promotion personal selling, advertising, public relations – non-profit sector – services sector – e-business.

fun  creative  consumer behavior  advertising design  learn about multiple business types

fun marketing examples  product advertising product advertising  international advertising international advertising  consumer promotion consumer promotion  consumer usage consumer usage  public responsibility public responsibility

summary: why choose marketing? financialfreedom flexibilityfun

summary: 4P’s of marketing productpricepromotionplace

thank you  is a marketing career best for you?  – more information about research and opportunities in marketing  – my for comments or questions