1. © 2009 South-Western, Cengage LearningMARKETING 1 Chapter 4 THE BASICS OF MARKETING 4-1Changes in Today’s Marketing 4-2Planning a Marketing Strategy 4-3Deciphering Consumers and Competitors 4-4The Varied Role of Marketing CHAPTER 4

2. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 2 Focus Questions: What do you think is meant by the ad’s headline? What role does Visa play in helping businesses market products and services to customers? How do credit and financial services such as the ones described in this ad make it easier for businesses to participate in international commerce? ©VISA

3. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 3 CHANGES IN TODAY’S MARKETING GOALS Explain how marketing today differs from marketing in the past. Show why understanding customers is crucial to applying the marketing concept. 4-1

4. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 4 Marketing Has Changed Marketing Experiences Understanding the Differences From few to many From independence to integration From problems to opportunities From expense to investment

5. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 5 What Does Marketing Marketing Mean to a Business? Reliable Auto Service Dee’s Designs Focus on customer needs

6. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 6 PLANNING A MARKETING STRATEGY GOALS Understand how the marketing concept transforms business planning. Explain the importance of market seg- ments and market opportunity analysis. Discuss how businesses develop the right marketing mix. 4-2

7. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 7 Putting Marketing Up Front Planning that identifies how a company expects to achieve its goals is known as a strategy.

8. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 8 How Does the Marketing Concept Affect Planning? Without the marketing concept 1. Develop a product. 2. Decide on marketing activities. 3. Identify potential customers. With the marketing concept 1. Conduct research to identify potential customers and their needs. 2. Develop a marketing mix (product, distribution, price, promotion) that meets specific customer needs.

9. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 9 Understanding the Customer Identifying customer needs Satisfying customer needs

10. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 10 Two Views of Consumers Customers are all alike and can be influenced to buy what a business offers. Customers are quite different and they select products and services to meet their unique needs.

11. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 11 Planning the Offering The marketing mix Creating the right mix Developing products Making distribution decisions Pricing products and services Planning promotion

12. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 12 Combining Parts of the Marketing Mix Product that offers choices Distribution that provides convenience Price that gives value Promotion that aids decision-making Satisfied customers

13. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 13 UNDERSTANDING CONSUMERS AND COMPETITORS GOALS Detail the stages of consumer decision making. Understand how business can use the marketing concept in various types of competition. 4-3

14. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 14 Consumer Decision Making The stages of a decision 1.Recognize 2.Identify 3.Evaluate 4.Decide 5.Assess

15. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 15 Consumer Decision-Making Stages Consumers make a series of decisions when deciding on a purchase. Recognize a need Identify alternatives Evaluate choices Make a decision Assess satisfaction

16. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 16 Responding to Competition Intense competition Limited competition Monopolistic competition

17. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 17 THE VARIED ROLE MARKETING GOALS Explain how the role of marketing differs in various types of businesses. Identify ways marketing is used by non- business organizations. 4-4

18. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 18 The Varied Uses of Marketing Producers and manufacturers Channel members Service businesses

19. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 19 Non-Business Organizations Primary focus is on something other than providing products and service for a profit Examples Government agencies Churches Schools Museums Professional organizations

20. © 2009 South-Western, Cengage LearningMARKETING Chapter 4 20 Marketing By Non-Business Organizations Government agencies Nonprofit organizations Supporting non-business organizations