MarketingMarketingLAP 4LAP 4

Have ItHave ItYour WayYour Way

Nature of MarketingNature of Marketing

ObjectivesObjectives

Explain the nature of marketing.Explain the nature of marketing.

Explain the nature of the marketing concept.Explain the nature of the marketing concept.

Explain how marketing affects our society.Explain how marketing affects our society.

Explain the nature of marketing.Explain the nature of marketing.

ObjectiveObjective

Marketing is allMarketing is allaround you.around you.

YouYou’’ve been involved in ve been involved in marketing.marketing.

The Role of MarketingThe Role of Marketing

Matches producers with customers whoMatches producers with customers whowant their productswant their products

Marketing/ mahr-ki-ting/ n. The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Marketing Activities

Planning How to Carry Out the Marketing Process

• Plans guide marketers’ activities.

• Planning and coordination of marketing activities is essential.

Marketing Activities

Finding Out About Finding Out About CustomersCustomers

Who are they?Who are they?

What do they need?What do they need?

Marketing Activities• Offering the Products Customers WantOffering the Products Customers Want

Marketers: Marketers: Share customer info with the companyShare customer info with the company ““Test driveTest drive”” new products new products

People in operations: Create productsPeople in operations: Create products People in finance: Determine financial feasibilityPeople in finance: Determine financial feasibility

Marketing Activities

Determining How Much toCharge for the Products

What price would satisfybuyers and sellers?

Marketing ActivitiesMarketing Activities

Communicating With CustomersCommunicating With Customers

Capturing customersCapturing customers’’ attention attention

Generating demand for their productsGenerating demand for their products

Marketing ActivitiesMarketing Activities

Putting Products Where They Need to BePutting Products Where They Need to Be

Where are customers likely to purchase products?Where are customers likely to purchase products?

WebsitesWebsites Retail storesRetail stores CatalogsCatalogs

WhereWhereDoes Does Marketing Marketing Occur?Occur?

• In everyday places

• Wherever customers are present

• In all kinds of businesses

Who Takes Part in Marketing?

Everyday people

Almost everyone, including you

What Can Be Marketed?What Can Be Marketed?

Goods (Durable and Goods (Durable and Nondurable)Nondurable)

ServicesServices

OrganizationsOrganizations

What Can Be Marketed?What Can Be Marketed?

EventsEventsPlacesPlaces

IdeasIdeas PeoplePeople

Explain the nature ofExplain the nature ofthe marketing concept.the marketing concept.

ObjectiveObjective

marketing conceptmarketing concept/ mahr-ki-ting kon-sept/ / mahr-ki-ting kon-sept/ n.n. A philosophy of A philosophy of conducting business that is based on the belief that all business conducting business that is based on the belief that all business activities should be aimed toward satisfying customer wants and activities should be aimed toward satisfying customer wants and needs while achieving company goalsneeds while achieving company goals

Three ElementsThree Elementsof the Marketing Conceptof the Marketing Concept

• Customer OrientationCustomer Orientation

Do it the customerDo it the customer’’s way.s way.

• Company CommitmentCompany Commitment

Do it better.Do it better.

• Company GoalsCompany Goals

Do it with success in mind.Do it with success in mind.

Explain how marketing affectsExplain how marketing affectsour society.our society.

ObjectiveObjective

Marketing’s Impact on Society

Makes theworld go round

Influences yourdecisions every day

Marketing’s Benefits

Makes our lives betterMakes our lives better

New and improved products at lower pricesNew and improved products at lower prices

Marketing’s Benefits

Provides us with a variety of goods and servicesProvides us with a variety of goods and services

Many styles, models, colors, and sizesMany styles, models, colors, and sizes

Marketing’s Benefits

Encourages trade between nationsEncourages trade between nations

What If Marketing DidnWhat If Marketing Didn’’t Exist?t Exist?

• It would be difficult for producers to:It would be difficult for producers to:

Connect with customersConnect with customers

Improve existing productsImprove existing products

Develop new productsDevelop new products

• Your own life would be difficult and different.Your own life would be difficult and different.

ProducerProducer CustomerCustomer

• What local event did you attend?

• What part did marketing play?

• Was the marketing effective?

• What should be changed?

• Young women promoted a new product.

• The target market was young men.

• Was it the right choice? Why?

MBAResearchAcknowledgments

Original DevelopersChristopher C. Burke,

April J. Miller, MBAResearch

Version 2.0

Copyright © 2011MBA Research and Curriculum Center®

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