1. Marketing 10 10-1 Marketing Basics
CHAPTER 10
4/22/2017 10
Marketing
10-1 Marketing Basics
10-2 Develop Effective Products and Services
10-3 Price and Distribute Products
10-4 Plan Promotion
ITB

2. LESSON 10-1 Marketing Basics
Goals
Define important marketing concepts.
Identify the steps in a marketing strategy.
Describe the consumer decision-making process.
Chapter 10

3. Key Terms marketing marketing strategy target market marketing mix
marketing orientation
final consumers
business consumers
consumer decision-making process
buying motives
Chapter 10

4. UNDERSTAND MARKETING Marketing activities Marketing businesses
Marketing functions
Chapter 10

5. MARKETING FUNCTIONS
Chapter 10

6. >> C H E C K P O I N T
Define marketing and the seven marketing functions.
Chapter 10

7. MARKETING STRATEGY Marketing planning
Develop a successful marketing strategy
Identify a target market
Create a marketing mix
Chapter 10

8. >> C H E C K P O I N T
What are the two steps in developing a marketing strategy?
Chapter 10

9. UNDERSTAND CUSTOMERS Consumer decision-making Buying motives
Chapter 10

10. STEPS IN THE CONSUMER DECISION-MAKING PROCESS
1. Recognize a need.
2. Gather information.
3. Select and evaluate alternatives.
4. Make a purchase decision.
5. Determine the effectiveness of the decision.
Chapter 10

11. >> C H E C K P O I N T
What are the steps in the consumer decision-making process?
Chapter 10

12. LESSON 10-2 Develop Effective Products and Services
Goals
Justify the importance of marketing research.
Identify the components of a product.
Describe how services differ from products.
Chapter 10

13. Key Terms marketing research product services intangible inseparable
perishable
heterogeneous
Chapter 10

14. CREATE AND IMPROVE PRODUCTS
Totally new products
Major improvements in existing products
Minor improvements in existing products
Chapter 10

15. PLAN MARKETING RESEARCH
Steps in marketing research
1. Define the marketing problem.
2. Study the situation.
3. Develop a data collection procedure.
4. Gather and analyze information.
5. Propose a solution.
Chapter 10

16. TYPES OF RESEARCH STUDIES
Surveys
Focus groups
Observations
Experiments
Chapter 10

17. >> C H E C K P O I N T
List the steps in a marketing research study.
Chapter 10

18. PRODUCT PLANNING Parts of a product Basic product Product features
Options
Brand name
Packaging
Guarantee or warranty
Chapter 10

19. PRODUCT PLANNING Product planning procedures Idea development
Idea screening
Strategy development
Production and financial planning
Limited production and test marketing
Full-scale production
Chapter 10

20. >> C H E C K P O I N T What are the components of a product?
Chapter 10

21. SERVICES
Intangible
Inseparable
Perishable
Heterogeneous
Chapter 10

22. >> C H E C K P O I N T
In what ways are services different from products?
Chapter 10

23. LESSON 10-3 Price and Distribute Products
Goals
Discuss how the selling price of a product is calculated.
Differentiate between a direct and an indirect channel of distribution.
Chapter 10

24. Key Terms price distribution channel of distribution channel members
Chapter 10

25. VALUE AND PRICE Buyers usually want to pay the lowest price possible.
Sellers want to charge the highest price possible.
Chapter 10

26. PRICING FACTORS Supply and demand Uniqueness Age Season Complexity
Convenience
Chapter 10

27. PRICE A PRODUCT Selling price Product costs Operating expenses Profit
Gross margin
Gross Margin =
Selling price -
Product costs
Selling price =
Product costs +
Operating expenses
Profit
Chapter 10

28. PRICE A PRODUCT
Markup
Markdown
Chapter 10

29. >> C H E C K P O I N T
What is the formula for calculating the selling price of a product?
Chapter 10

30. CHANNELS OF DISTRIBUTION
Need for distribution channels
Differences in quantity
Differences in assortment
Differences in location
Differences in timing
Channels and channel members
Direct channel of distribution
Indirect channel of distribution
Retailers
Chapter 10

31. >> C H E C K P O I N T
What is the difference between a direct and an indirect channel of distribution?
Chapter 10

32. LESSON 10-4 Plan Promotion
Goals
Justify the importance of communication in marketing.
Identify and describe the common types of promotion.
Chapter 10

33. Key Terms promotion effective communication personal selling
advertising
Chapter 10

34. COMMUNICATION The communication process
Sender and receiver
Communication channel
Encoding and decoding
Feedback
Communicating through promotion
Chapter 10

35. COMPONENTS OF EFFECTIVE COMMUNICATION
Chapter 10

36. >> C H E C K P O I N T
How does identifying a target market improve promotion communications?
Chapter 10

37. PROMOTION Personalized promotion Mass promotion Mass personalization
Advertising
Publicity
Public relations
Sales promotion
Mass personalization
Chapter 10

38. >> C H E C K P O I N T
Describe the advantages and disadvantages of the major types of promotion.
Chapter 10