Professional Documents
Culture Documents
PART 4 . . . . . . . . . . . . . . . . . . . . . . . .
Chapter 10
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Key Topics
Definition of marketing The external marketing environment Segmentation and target marketing The consumer buying process Organizational markets and buying behavior Consumer and industrial products Branding and packaging
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What Is Marketing?
Planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives
Services
Ideas
Relationship marketing emphasizes lasting relationships with customers and suppliers
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Competitive Environment
The Firm & It's Marketing Plan Plans Strategies Social & Economic Cultural Decisions Environment
Environment
Technological Environment
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International competition
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Marketing Mix
The Four Ps
roduct ricing
lace
(Distribution)
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romotion
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Advertising
Sales Promotions
Public Relations
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Target Marketing
Selecting a category of customers with similar wants and needs who are likely to respond to the same products
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Psychographic Variables
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Consumer Behavior
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Problem Recognition
Information Seeking
Evaluation of Alternatives
Purchase Decision
Postpurchase Evaluation
Pricing
Promotion
Place
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Organizational Markets
Industrial Market
Reseller Market Government & Institutional Market
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Benefits
The results of using those products
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Classifying Products
Consumer
Convenience Goods
Industrial
Expense Items
Shopping Goods
Specialty Goods
Capital Items
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Product Offerings
Product Line
A group of similar products, intended for similar buyers, who will use them in similar ways.
Product Mix
The total group of products that a company offers for sale.
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Types of Brands:
National Brands Licensed Brands Private Brands
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6. Intel
7. Disney
3. IBM
4. GE
8. Ford
9. McDonalds
5. Nokia
10.AT&T
Losing Value
Xerox -38%
Samsung
+22%
Amazon.com -31%
Yahoo! Duracell Ford -31% -30% -17%
Product Packaging
Attracts consumers Displays brand name Protects contents
Supplies information
Communicates features and benefits Provides features and benefits (e.g. easy pour spout)
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PROMOTION DISTRIBUTION
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Products
Pricing
Promotion Distribution
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Chapter Review
Define marketing Describe the forces of the external marketing environment Explain market segmentation and target marketing
Chapter Review
Define product and distinguish between consumer and industrial products Explain the importance of branding and packaging
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