1. Chapter 11: Marketing

2. Marketing  Process for creating, communicating, delivering offerings that have value for customer.

3. Utility  Form utility  Time utility  Place utility  Ownership utility

4. People Marketing

5. Place Marketing

6. Event Marketing 

7. Idea Marketing  Click it or Ticket  Don’t drink and drive  Don’t Smoke

8. Marketing Era’s  Production Era  Selling Era  Marketing Era  Marketing Concept  Relationship Era

9. Role of Customer  Customer relationship management  Personalization  Limited Relationships  Full Partnerships  Value+customer satisfaction= customer loyalty

10. Marketing Strategy  Marketing plan  Target Market  Size  Profitability  Accessibility  Limited competition

11. Consumer Marketers vs. Business Marketers  Consumer  Direct efforts toward people who are buying products for personal use.  Business  Direct efforts to customers who buy products to produce other products.

12. Consumer Market Segmentation  Demographic

13. Consumer Market Segmentation  Geographic

14. Consumer Market Segmentation  Psychographic

15. Consumer Market Segmentation  Behavioral

16. Business Market Segmentation  Geographic- Concentration of Customers  Customer-Based- characteristics of customers  Product-Use-Based- How customers will use product

17. Marketing Mix  Product Strategy: brand name, product image, package design  Pricing Strategy: fair prices, add value, relative to the benefits of your product.  Distribution Strategy: shipping, warehousing, and selling outlets  Promotion Strategy: ways that marketers communicate about their products.

18. Marketing Environment  Environmental Scanning- collecting information from external marketing environment. Key elements include  Competitive: understanding the market share  Economic: Identify and respond to change  Social/Cultural: lifestyle, customs, interests, rapidly changing trends.  Technological: Change in technology  Political/Legal: Laws, regulations

19. Understanding the Customer  Customer Behavior: How customers act, when buying or using a product.  Consumer Decision Process  Need Recognition  Information search  Evaluation of Alternatives  Purchase Decision  Post purchase Behavior  Business buyer behavior- how people act when buying products to produce other products.

20. Marketing Research  Goal: better marketing decisions  Identify external opportunities  Monitor and predict customer behavior  Secondary data: existing data  Primary: new data  Observational research: no interaction  Survey Research: What people are thinking and feeling

21. Social Responsibility  Fair labor  Environmentalist  Involvement in local community