1. BA 101 Introduction to Business Chapters 12-13-14-15 Marketing Function

2. What is Marketing? IndividualObjectivesOrganizationalObjectives ConceptionPricingPromotionDistribution IdeasServicesGoods

3. Core Marketing Concepts Goods and Services Value, Quality and Satisfaction Exchange, Transaction and Relationships Needs, Wants, and Demands Markets

4. Selling Concept vs. Marketing Concept Starting Point FocusMeansEnds Existing Products Factory Selling and Promoting Profits Through Sales Volume Customer Needs Market Integrated Marketing Profits Through Customer Satisfaction The Selling Concept The Marketing Concept

5. Customer Satisfaction Positive Customer Experiences Negative Customer Experiences Greater customer loyalty Positive “word of mouth” More sales opportunities Less price sensitivity Damaged business reputation Negative “word of mouth” Fewer sales opportunities Reduced business prospects

6. Understanding Today’s Customers Sophisticated Price Sensitive Demanding Informed

7. Understanding Today’s Customers Organizational Market Consumer Market Industry/CommerceIndustry/CommerceResellersResellers GovernmentGovernmentIndividualsIndividualsFamiliesFamilies HouseholdsHouseholds

8. Marketing Research How can we use information for marketing purposes? How can we use information for marketing purposes?

9. Develop the Marketing Strategy Segments and Niches Market Position Target Markets Marketing Mix

10. Developing the Marketing Mix Social Responsibility Business Ethics PromotionPlace PriceProductCompetitionEconomicsNature PoliticsRegulationTechnology Society Target Market

11. Product: It is a combination of benefits Core Benefits Brand Name Features Quality Level Design Packaging InstallationWarranty UpgradesAccessories Delivery and Credit After-Sale Service

12. The Product Continuum Goods Products Ideas Services SaltShoesVCRAutoFast Food CruiseConsultingEducationInsurance Tangible Dominant Intangible Dominant

13. Characteristics of Service Products IntangibleQualityIntangibleQualityPerishableNaturePerishableNature

14. TimeIntroductionGrowthMaturityDecline In-Flight Internet Service Digital Music Players DVD PlayersVCRs +0 Sales Volume (units) Sales Profits The Product Life Cycle

15. New-to-the-world products New product lines Additions to existing product lines Improvements or revisions of existing products New Product Development (NPD) New Products and NPD

16. Product Line and Product Mix Meat Milk Fruit Juice Meatballs Sausages Product Line Product Mix Salami

17. Developing Pricing Strategies QualityPerceptionsQualityPerceptions MarketingObjectivesMarketingObjectives ConsumerDemandConsumerDemand GovernmentRegulationsGovernmentRegulations

18. Break-Even Analysis Break-Even Point $$ Profits $$ More Than $$ Losses $$ Less Than Fixed costs Selling price per unit-Variable costs per unit Cost-Based Pricing

19. Break-Even Point Haircuts at $20 Each

20. Break-Even Point Haircuts at $30 Each

21. Other Pricing Strategies Price-Based Optimization Skimming Penetration

22. Marketing Intermediaries RetailersWholesalers

23. How Intermediaries Simplify Commerce

24. Distribution Channel Length Consumer Business User Business User Consumer Goods and Services Business Goods and Services Producer Agent/Broker Wholesaler Retailer ProducerWholesaler

25. Market Coverage Distribution Convenience Goods and Organizational Supplies Expensive Technical or Specialty Products IntensiveSelectiveExclusive

26. Elements of Promotion Personal selling Personal selling Advertising Advertising Direct marketing Direct marketing Sales promotion Sales promotion Public relations Public relations

27. The Promotional Mix ActivityReachTimingFlexibility Cost/ Exposure Personal Selling Advertising Direct Marketing Sales Promotion Public Relations Direct Interaction Limited Reach Indirect Interaction Large Reach Direct Interaction Large Reach Indirect Interaction Large Reach Indirect Interaction Large Reach Regular Contact Intermittent Tailored Message Standard Message Customized Message Standard Message Standard Message Relatively High Low to Moderate Relatively High Varies No Direct Cost

28. Personal Selling Customer-Oriented Marketing Customer-Oriented Marketing Partnerships with Customers Partnerships with Customers

29. Product Awareness Product Image Consumer Demand Advertising and Direct Marketing

30. Major Advertising Media Newspapers E-mail Television Direct Mail Internet Magazines Radio Outdoor

31. Consumer Sales Promotions Coupons Rebates Point-of-Purchase Special-Event Advertising Samples Premiums Cross-Promotions Specialty Advertising

32. Public Relations News Conferences News Releases Community Relations Press Relations Investor Relations Government Affairs Product Publicity

33. Integrated Marketing Communications IMCIMCPublicRelationsPersonalSelling ProductAdvertisingDirectMarketing SalesPromotion Effectiveness Consistency Impact Clarity