Marketing In Today

1
Marketing In Todays World

• Freshman Seminar - Introduction to Business
• Dr. Hays

2
Marketing Essentials

• The Basics
• Different products require different strategies
• Why?
• Items appeal to different ages, genders, and
  income ranges.
• You must know your market!
• What is a market?
• A group of customers who share common wants and
  needs

3
Marketing

• Definition
• The process of creating, promoting, and
  presenting a product or service to meet the wants
  and needs of consumers
• Functions
• Several
• Define all aspects that are part of marketing a
  product

4
Distribution

• Definition
• Process of getting goods and services to
  customers
• Includes purchasing, stock handling, inventory
  control, physical distribution
• Transported by trucks, trains, airplanes, ships
• Also involves systems that track products so they
  can be located at any time
• http//www.pressroom.ups.com/global/frontpage

5
Financing

• Definition
• Getting money necessary for setting up and
  running business
• Also includes protecting investments through risk
  management

6
Information Management

• Definition
• Gathering and analyzing information about
  consumers
• What type of information?
• Making informed decisions requires good research
  and development

7
Selling

• Provides customers with goods and services they
  choose to buy
• Relationship marketing
• Building and maintaining relationships with their
  customers
• How might businesses build relationships with the
  teen consumer market?

8
Marketing Mix and the Four Ps

• Marketing mix consists of four basic marketing
  strategies
• Product
• Place
• Price
• Promotion

9
Product

• Marketing used to determine demand of a product
• Predicts how to make the product appealing
• Packaging is a major part of product
• Design, color, size, brand name

10
Place

• Marketer decide how and where customers will buy
  goods and services
• What kind of location
• Department store, boutique, mail order?
• Channel of distribution
• A pathway to direct products to consumers
• Direct or Indirect??
• Direct sold directly to customer from producer
• Indirect involves one or more intermediaries

11
Price

• Marketers consider 3 questions
• 1. How much are customers willing to pay?
• 2. Is the price competitive with other products?
• 3. Can the company make a profit?
• Break Even Point the point at which total
  revenues, or sales, equal total costs and
  expenses of developing and offering a product or
  service

12
Promotion

• Involves making customers aware of products
• Most familiar form is advertising
• http//www.adforum.com/