Marketing Basics. What is Marketing?  Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas,

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Presentation transcript:

Marketing Basics

What is Marketing?  Marketing is 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.  The primary responsibility of Marketing it the ensure the “exchange” takes place.  Marketing Mix is a primary component of Marketing. Marketing Mix

What is target market?  A target market is the market segments on which the organization focuses it marketing plan and toward which it directs its marketing efforts.  The target market is the people trying to be reached and satisfied.

Price  Price one part of marketing mix, or 4 P’s.  There are many decisions that must be made when dealing with price… ○ Such as; Pricing strategy Suggested retail value Seasonal Pricing

Promotion  Promotion represents the various aspects of marketing communication. ○ Examples include; Advertising Sales promotion Marketing budget

Product  Refers to the tangible, physical products, or services. ○ Examples of decisions that must be made; Brand name Safety Warranty Quality

Place (Distribution)  About getting the product to the customer. ○ Examples of distribution decisions; Marketing Coverage Warehouse Transportation Distribution Centers

Review Question  What are the 4 P’s? And give examples. 1. Place 2. Price 3. Promotion 4. Product

Works Cited 