Marketing: What’s it all about?
Mrs. Styers
Yesterday, we talked about
Marketing and the Basic
Marketing Concept. All
Marketing Begins and Ends
with what?
What is it Really?
 Companies management of profitable
relationships
 Satisfying customer needs****
 A process whereby individuals and groups
obtain what they need and want through
creating and exchanging products and value
with others.
Marketing helps connect
businesses to their
customers.
Marketing also provides
the means for the
exchange process to
occur.
Basic Marketing Concept
What is a Market?
 A set of actual or
potential buyers of a
product.
 The people within a
certain market share
the same needs or
wants.
 Example: Clothing
Market
Types of Markets
 Industrial
 Consumer
Needs, Wants, and Demands
Starts Here
 Needs:
 Felt deprivation
 Wants:
 Form of needs shaped
by culture and
personality
 Demands:
 Wants backed by
buying power
What does the customers
need?
 Products- anything that
will satisfy a need or
want. (Both Tangible and
Intangible)
 Services- essentially
intangible and do not
result in ownership.
 Experiences- Six Flags,
Disneyland
”A manufacturer of drill bits may think a
customer needs a drill bit, but what the
customer really needs is a hole.”
Companies who don’t realize the actual
needs/wants of customers run the risk of
losing customers.
Focus on the Need not the Selling
Value and Satisfaction
 Value:
 Benefits gained versus
costs of obtaining
product
 Satisfaction:
 Degree of meeting
consumer’s
expectations
Exchange, Transaction,
Relationships
 Exchange:
 Getting something for
something
 Transaction:
 Two things of value
 Agreed-upon
conditions
 Time/place of
agreement
Relationship (cont.)
 Long-term relationship with customer
 Build Loyalty and Trust
 Offering continuous Quality products
 Repeat customers are Key!!!
Marketing Functions
 All marketing activities can
be classified into one of
the seven functions of
marketing.
Providing customers with
Goods and Services they
want. Selling can take place
in the retail market to you the
customer and business to
business to industrial users.
Corn
Flakes
Deciding how much to
charge for goods and
services in order to
maximize profits.
Obtaining, developing, maintaining, or
improving a product or a product mix in
response to market opportunities.
Decisions are often made on the basis of
marketing research which highlights
customer wants and needs.
The process of getting the
marketing information needed to
make sound business decisions.
The basis for this process is
marketing research.
Any form of communication
used to inform, persuade, or remind
customers about a business’s products
or services. Promotion is also used to
improve a firm’s public image.
Getting the money needed to finance the
operation of the business.
Financing also involves helping
customers to purchase items.
Where products are sold and how the
products get from the producer to the
consumer.
Goods can be shipped by:
Truck, Rail, Boat, Airplane,
Pipeline
Understanding Business - you must
understand how a business works in order to
apply marketing practices in our free
enterprise society.
Learning Interpersonal Skills – you
must learn the techniques and principles of
human relations in order to deal with
supervisors,
co-workers, customers,
and friends.
Perfecting Communications Skills –
Good written and spoken communications
are necessary in the job market.
Ticket out of Class
 On a blank sheet of paper
 Draw a picture of what marketing mean
 YOU MAY NOT USE ANY WORDS!!!