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Marketing

Marketing

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Published by Sarath Kumar

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Published by: Sarath Kumar on Nov 28, 2010
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11/28/2010

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What is Marketing ?

Selling ? Advertising ?

What is Marketing ?
We use the word Marketing to describe such things as ‡ analyzing the needs of the people ‡ trying to guess what types of products they want ‡ estimate how much they will buy ‡ predict when they will want to buy ‡ determine where they go to buy the stuff

What is Marketing ?
«. And, ‡ figure out the best price to sell it at - and can you still make a profit selling it at that price ‡ decide on promotional things to create awareness about the product ‡ look at the competition to see what they are doing with pricing, features etc.

needs) .Introduction ‡ ³Marketing is concerned with anticipating customer demand and directing the flow of goods from producers to consumers´ ‡ Marketing has to do with matching producer¶s outputs to consumer¶s activities (wants.

Serving the needs of customers is what business should be all about « Marketing is the business function that interprets customer needs to the rest of the organization. . Mktg should anticipate needs.NOT with the production process. Marketing should begin with the customer needs .

Marketing .the formal definition Process of planning and executing the conception. . and services to create exchanges that satisfy individuals and organizational objectives. promotion. goods. and distribution of ideas. pricing.

mfg.Process of . = (creation of the idea) pricing. . gets the $$ that satisfy people people = individuals and organizational objectives.the formal definition Planning and executing = carrying out actions the conception. Marketing . and distribution of STUFF stuff = ideas. goods. promotion. and services to create exchanges = customer gets the product.

... it effects a lot of what you do ‡ In some cases.Why should we know about Mktg ‡ Cause. the COST of marketing a product makes it very expensive......... Wholesale) you can save a lot of money .. soooooo.... if you know where to buy it without the marketing costs included (ie...

so they get paid a lot....so their jobs are important.. marketing people in a company bring in the money .. Cause... you are being involved in the INCOME side of the company and your job is very critical (ie... ‡ If you get involved in the marketing side..... hard to ever fire you or lay you off) ....Why should we know about Mktg ‡ Also..

µcause you can get a JOB in Marketing !! ‡ Canada is a very multi-cultural country ‡ We can buy products from all over the world ‡ Selling new products to Canadians requires new marketing approaches .The Importance of Marketing ‡ Why study Marketing .THEREFORE there will be many new job opportunities .

The Importance of Marketing ‡ Marketing is a core business discipline ‡ The study of marketing is important to the basics of running a business.) . market research. development etc. $35 of that 70 has been spent on marketing (including advertising.the cost of marketing amounts to 40 ~ 60% of the total eg. big or small ‡ When you buy a product . If we buy shoes for $70.

The Importance of Marketing Getting a JOB in Marketing !! ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Personal selling Advertising Package Design Transportation Storage Marketing Research Product Development Wholesaling Retailing .

not revenue spending .The Importance of Marketing Importance to Companies ‡ When you work in the marketing department of a company you are part of LINE personnel ‡ LINE personnel are always more critical than STAFF personnel because LINE personnel ³bring in the money´ therefore your job is revenue earning.

and Chairman of the Board ‡ ³Marketing is often the route to the top´ ‡ Almost always the C.P.P. Marketing. comes from the V. Government Relations .O.E.Why should we know about Mktg ‡ You can get to be C. Human Resources or V.P.O.E. not V.

Shriners ‡ Charitable organizations eg. Kiwanas. Red Cross.The Importance of Marketing Getting a JOB in Marketing !! In addition. Salvation Army . many people working with NPO¶s also do marketing ‡ Promoting political parties ‡ Cultural groups ‡ Religious organizations ‡ Civic organizations eg.

Marketing ‡ Marketing is something companies do. and a social process´ . and it is also a characteristic of our society ‡ ³It is both a set of activities performed by organizations.

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Micro .marketing for a company Macro .the whole economy .

the whole economy and its flow of goods and services from producers to consumers . things you do to accomplish the organizations objectives (companies and NPO s) Macro .Micro .marketing for a company.

but also looking at what the customers want Macro . .Looking at how everybody in the country can have access to things they need.Its not just selling stuff.Micro . Government has to make sure everybody has fair access.

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but gov¶t insists they must .Micro-Macro Dilemma ‡ Government has to step in cause not everything would be produced fairly by companies . It would be cheaper to make cars without airbags and seatbelts .so regulation needed ‡ eg.so it has to be don .

so regulation needed ‡ eg #2.Micro-Macro Dilemma ‡ Government has to step in cause not everything would be produced fairly by companies . It would be cheaper to make beer cans from raw material cause the price of mineral ore is low .but the gov¶t insists a certain % must be recycled to reduce waste and pollution .

The 8 Marketing Functions Buying Selling Transporting Storing Grading Financing Risk Taking Market Information .

The 8 Marketing Functions These 8 functions are the same in several textbooks. and important for you to learn .

The Marketing Functions Beckman. McHugh & Berman Understanding Canadian Business 2nd Edition as used in GNED 119 Buying Selling Transportation Storage Standardization Finance (Credit) Risk Bearing . Kurtz & Boone Foundations of Marketing 6th Edition as used in MKTG 116 Buying Selling Transporting Storing Grading Financing Risk Taking Information Collection Research Nickels.

its done by various companies. .its done mostly by the government ‡ Market-direct economy (capitalism) . brokers etc.WHO does the marketing functions ? From a Macro-point of view ‡ Centrally planned economy (communism) . middlemen.

and.Innovation is encouraged by a market-directed economy (capitalism) because people who come up with new ideas are free to try and market them and make a fortune. government has strict controls on the means of production so there is a limit to what people can manufacture. people are always trying think of new ways to satisfy un-met needs. In a communist country. this encourage new thinking . In a capitalist economy.

you are trying to get people to believe in something. . or behave in a certain way eg.Don¶t drink and drive . save gas .Advocacy Advertising ‡ You are not trying to sell a product.Canadian Cancer Society .use the TTC.recycle .

but unacceptable in USA and Canada .One of the big complaints about marketing is that ppl act unethical in order to make a sale. people have different opinions about what is ethical. Bribery is perfectly acceptable in some parts of Asia and Latin America. Sometimes it is easy to forget that morals are based on your own cultural standards and in different cultures. Eg.

³improve positive effects on Society and reduce negative effects«´ .social responsibility conflicts with profit objective (raises ?.Marketing Concept .Social Responsibility .environmental problems . is mktg concept desirable) .

some companies have been very successful at dealing with this eg.Marketing Concept . BODY SHOP .they realize it is a way to endear themselves to trendy customers .Social Responsibility -? Of social responsibility cutting into profits .

increasing quality may cost more in production. but you may make this money back in increased sales which come about as the customers realize you have a very good quality product .this will reduce the advertising costs and customer service/warranty costs and ensure customer satisfaction re: brand loyalty .Social Responsibility -? What if it cuts into profits Answer .Marketing Concept .

Social Responsibility Written Codes of Ethics AMA .Marketing Concept .

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