Professional Documents
Culture Documents
What is Marketing?
Type of Organizations that use Marketing.
Origins of Marketing.
Exchange and Utility.
Marketing Management Philosophies.
Importance of the Marketing Concept.
Test your knowledge
Please Email alex@udel.edu any comments
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What is marketing?
Definition of marketing
Marketing is the process of planning and executing the conception, pricing,
promotion, and distribution (4 Ps) of ideas, goods and services to create exchanges
(with customers) that satisfy individual and organizational objectives.
Satisfying customer needs (creating utility) through the exchange process.
Create a Marketing Mix (4ps):
Product. Chapter 11, Chapter 12
Price. Chapt 13 & 14
Promotion. Chapter 18, Chapter 19, Chapter 20
Distribution (Place). Chapter 17
To satisfy Target Market(s) (customers)Chapter 9
Handout...Taco Bell
Taco Bell was used as an example...
Marketing Mix:
Product...Border Lights, a new menu of "light foods"
Price.....Value Pricing as with their other menu items
Promotion...Various media and methods, a commercial that appeared during the
1995 Superbowl to announce the arrival.
Distribution...Taco Bell has increased its points of access (where you can by its
products) by a factor of 4 over the last couple of years...including gas stations
etc.
Target Market(s):
Current fast food customers (typically male, 14 -34 year olds) and/or
Health conscious who do not currently purchase fast food??
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Origins of Marketing.
When did marketing first evolve?
Division of labor.
Specialization. Led to the Exchange of goods etc.
Exchange is key to marketing, without an exchange; there is no need to market.
An
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Marketing performs the exchange functions that makes the total utility of the product a reality to consumers.