Professional Documents
Culture Documents
What is Marketing?
Marketing
- an organizational function and a set of
processes for creating, communicating, and
delivering value to customers and for
managing customer relationships in ways
that benefit the organization and its
stakeholders
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Product development
- the set of technical, scientific, and
engineering processes involved in creating
new or improved products to better satisfy
customer needs
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Figure 10.1
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Figure 10.2
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Marketing Research
Marketing research
- the systematic search for information that
uncovers met and unmet customer needs,
the different needs of different customer
groups, and whether or not a products
marketing mix appeals to customers
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Figure 10.3
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Adopt a Customer-Oriented
Approach
Focus on why existing products failed to
meet customer needs as well as how
future products should be designed
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Figure 10.4
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Multiple-segment marketing
- different models of a product are made and
sold to different customer groups
Focused marketing
- developing products for customers in one
or two targeted market segments
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Figure 10.6
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Figure 10.7
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Figure 10.8
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Brand name
- the specific name, sign, or symbol a
company uses to distinguish and legally
protect the identity of its products
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Product positioning
- the process of customizing or tailoring a
product to a specific market segment
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Products
Creating real product differences
Creating perceived product differences
Packaging
Price
Target price
- the price a typical customer will be willing to
pay for a product with a particular set of
qualities and features
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Promotion
Advertising
Sales promotions
Public relations
Personal selling
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Promotion
Promotion
- the way in which a company advertises,
announces, publicizes, and pushes its
products
Promotional mix
- the combination of advertising, sales
promotions, public relations, and personal
selling used to reach and persuade
customers to buy a product
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Promotion
Advertising
- the paid, nonpersonal promotion of a
companys goods and services using mass
media to influence consumers
Sales promotion
- nonpersonal, persuasive efforts designed
to boost a companys sales immediately
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Promotion
Public relations
- the practice of conveying messages to the
public through the media to influence
peoples opinions about the company and
its products
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Promotion
Personal selling
- direct, face-to-face communication by
salespeople with existing and potential
customers to promote a companys
products
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Place
Place
- the distribution and sales channels used to
get both a product and its marketing
message to the customer
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Figure 10.9
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