Marketing Essentials Ms. Roberts EWHS

Marketing Essentials
Ms. Roberts EWHS
Unit 2
The Marketing Concept and
Benefits of Marketing
The Marketing Concept
 A philosophy about the way in which
business should be conducted.
 The philosophy is that the CUSTOMER
is the central focus of everything that is
done in marketing.
The Primary Goal?
 In other words, satisfy the needs and wants of
the customer-give consumers what they want.
 The marketing concept states that businesses
must satisfy customers needs and wants in
order to make a PROFIT.
The THREE C’s- Elements of
the Marketing Concept
Customer Orientation
Company Commitment
Company Goals
Remember the two main
objectives of Businesses…
 1) To satisfy the customer’s needs and wants.
 2) To make a profit.
 Why does a person “market” his
 To increase profits and
 To remain competitive
Focusing on Customer
 Think of Toyota 2009-2010
 What examples can you think of?
Benefits of Marketing-Part 2
1) Raises the Standard of
Living –what does SoL mean?
2) Adds Utility to Goods and
3) Makes buying convenient
More Benefits…
 4) Maintains Reasonable Prices
 5) Improves the quality of life
 Examples? Childproof caps, seatbelts, airbags,
flame-resistant infantwear and pajamas.
 6) Provides a variety of goods and
 7) Increases production.
Without Marketing-Part 3
 Less Competition
 Increased Personal Contact with
Businesses (Producers & Sellers)
 Less Variety in Products
 Fewer Product Improvements
 Fewer Products Developed
 Increased Stock Shortages or Overages
 Inconvenience- Customers wouldn’t
know anything about the products
Why is Marketing Important?
 Increased production capacity (Economies of
Increased buying power of consumers
Need for coordinating production and
Majority of businesses in the USA are
marketing type businesses
1/3 -1/2 of all workers are in marketing jobs*.
$.01.-.30 of every sales dollar goes to cover the
cost of Marketing
* Occupational Handbook
2010-2011 Outlook
 Numbers vary and depends on the
definition of “Marketing type jobs”.