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The Nature of Marketing

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Presentation on theme: "The Nature of Marketing"— Presentation transcript:

1 The Nature of Marketing
Chapter One The Nature of Marketing

2 Objectives Define & discuss marketing in its broadened sense
ID elements of the marketing mix Examine external environmental forces Introduce the marketing concept Recognize marketing's societal & economic contribution The social marketing concept Understand why it is important to study marketing

3 Bringing Buyers and Sellers Together
CONSUMER PRODUCER MARKETING

4 A Definition of Marketing
“Marketing is the process of influencing voluntary exchange transactions in which one party to the transaction can be envisioned as a customer of the other, the marketer. The marketing process involves communication and requires a mechanism or system to carry out the exchange of the marketer’s product for something of value.”

5 Marketing: 5 Aspects Exchange mechanism Two or more parties Communication Each gives something up Each receives something

6 Relationship Marketing

7 What is a Market? Resources Potential Customers Willingness Ability

8 The Marketing Mix: An Overview
Product Promotion Place Price

9 Product Tangible goods Service Intangible idea Total Product Concept

10 Place How do goods get to the customer? How quickly do they get there?
In what condition will they arrive?

11 Promotion Advertising: Direct or Mass Media Personal Selling Publicity
Sales Promotion

12 Promotion Inform Remind Persuade

13 Price

14 Marketing Mix: A Creative Activity
Product Promotion Place Consumer Price

15 The Marketing Environment
Uncontrollable External Marketing Environment Controllable Marketing Environment The Consumer

16 The Uncontrollable External Environment
Economic and competitive forces Natural resources and physical factors Science and technology Political and legal forces Demographic forces Sociocultural forces

17 Business Philosophies
Market Orientation Sales Orientation Production Orientation

18 The Marketing Concept 1st Consumer orientation
2nd Stress long-run success 3rd Adopt a cross-functional perspective

19 Marketing and Society Macromarketing
“the delivery of a standard of living to society.”

20 Marketing and Society Micromarketing
“having the right goods or services at the right time and the right place in the right assortment.”

21 Why Study Marketing? Career opportunities
Emerging cross-functional nature of business Entrepreneurial opportunities More informed citizen and consumer Part of being an educated person For more information: 6

22 Summary The function of marketing is to bring buyers and sellers together. The primary emphasis of marketing is an exchange process that involves two or more parties trading things of value.

23 Review Define & discuss marketing in its broadened sense
ID elements of the marketing mix Examine external environmental forces Introduce the marketing concept Recognize marketing's societal & economic contribution The social marketing concept Understand why it is important to study marketing

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