© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Introduction to Marketing I I

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin “The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.” Simply put: Marketing seeks to discover and satisfy customer needs. MARKETING DEFINED

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin When was the last time you were truly satisfied by something you purchased? What was the: Product or service? Price? Quality? THINKING PAIRS

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Marketing: The delivery of customer satisfaction at a profit. Needs, wants, & expectations differ Please keep track of what you like and don’t like as classes proceed – we’ll use this data later in semester PEOPLE ARE DIFFERENT

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Marketing and Sales Concepts Contrasted Factory Existing Products Selling and Promoting Profits through Volume The Selling Concept Starting Point FocusMeansEnds Market Customer Needs Integrated Marketing Profits through Satisfaction The Marketing Concept

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Finish reading chapter 1 Take Chapter 1 on-line quiz before next class period begins Read company case, Rollerblade, and prepare answers to questions on pages at the end of the case study ASSIGNMENTS FOR NEXT TIME

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Marketing Definition Customer Satisfaction Wants Needs Exchanges Marketing Concept Selling Concept KEY TERMS