MARKETING MARKETING © South-Western Thomson CHAPTER 1 Marketing Today What Is Marketing? 1.2 Businesses Need Marketing 1.3 Understanding the Marketing Concept 1.4 Marketing’s Role Today and Tomorrow

MARKETING MARKETING © South-Western Thomson 2 WHAT IS MARKETING? GOALS GOALS for Lesson 1.1 Understand the importance of studying marketing. Explain what marketing is and describe the marketing functions. Define marketing.

MARKETING MARKETING © South-Western Thomson 3 Why Study Marketing? Where does marketing take place? All types of businesses use marketing

MARKETING MARKETING © South-Western Thomson 4 Businesses Directly Involved in Marketing Advertising agencies Marketing research firms Sales representatives Trucking companies Credit card companies Telemarketing businesses Travel agencies

MARKETING MARKETING © South-Western Thomson 5 Businesses with Major Marketing Activities Retailers Manufacturers Banks Real estate agencies Insurance companies Automobile dealers Farmers and ranchers

MARKETING MARKETING © South-Western Thomson 6 Businesses with Limited Marketing Role Law offices Physicians Accounting firms Government agencies Universities Construction businesses Public utilities

MARKETING MARKETING © South-Western Thomson 7 What Is Marketing? Marketing functions Product/service management Distribution Selling Marketing-information management Financing Pricing Promotion Companies use the marketing functions

MARKETING MARKETING © South-Western Thomson 8 Defining Marketing Marketing Marketing is the creation and maintenance of satisfying exchange relationships.

MARKETING MARKETING © South-Western Thomson 9 BUSINESSES NEED MARKETING GOALS GOALS for Lesson 1.2 Explain why businesses need marketing. Understand how marketing has developed in the business world. Describe the functions of business.

MARKETING MARKETING © South-Western Thomson 10 The Need for Marketing Marketing must be carefully planned. Marketing must be coordinated with other business activities.

MARKETING MARKETING © South-Western Thomson 11 Marketing and the Development of Business Bartering Specialization of labor Money systems Central markets Other marketing activities

MARKETING MARKETING © South-Western Thomson 12 The Functions of Business Production Raw materials Processing Services Operations Accounting and finance Management and administration Marketing Coordination of business functions

MARKETING MARKETING © South-Western Thomson 13 UNDERSTANDING THE MARKETING CONCEPT GOALS GOALS for Lesson 1.3 Define the marketing concept. Determine how businesses implement the marketing concept.

MARKETING MARKETING © South-Western Thomson 14 The Marketing Concept Satisfying customer needs The consequences of not satisfying customer needs

MARKETING MARKETING © South-Western Thomson 15 Elements of the Marketing Concept Identify needs of customers Develop and market products or services Operate a business profitably

MARKETING MARKETING © South-Western Thomson 16 Implementing the Marketing Concept Identify the market Develop a marketing mix Product Distribution or place Price Promotion

MARKETING MARKETING © South-Western Thomson 17 Marketing’s Role Today and Tomorrow GOALS GOALS for Lesson 1.4 Describe the changing role of marketing. Summarize how marketing is changing and why marketing is important.

MARKETING MARKETING © South-Western Thomson 18 The Changing Role of Marketing Production emphasis Sales emphasis Marketing department emphasis Marketing concept emphasis

MARKETING MARKETING © South-Western Thomson 19 Philosophy of Marketing Production Era: 1900s-1920s Emphasis on producing and distributing new products Sales Era: 1930s-1940s Emphasis on using advertising and salespeople to convince customers to buy a company’s products Marketing Department Era: 1950s-1960s Emphasis on developing many new marketing activities to sell products Marketing Concept Era: 1970s-Today Emphasis on satisfying customers’ needs with a carefully developed marketing mix

MARKETING MARKETING © South-Western Thomson 20 The Changing Definition of Marketing Marketing in other organizations Marketing is important

MARKETING MARKETING © South-Western Thomson 21 The Progress of Marketing Marketing as a variety of activities Marketing as promotion Marketing as selling Marketing as distribution The Progress of Marketing