Chapter One

The Nature of Marketing

Objectives
Define & discuss marketing in its broadened
sense
ID elements of the marketing mix
Examine external environmental forces
Introduce the marketing concept
Recognize marketing's societal & economic
contribution
The social marketing concept
Understand why it is important to study
marketing

Bringing Buyers and Sellers

Together
CONSUMER
PRODUCER

MARKETING

A Definition of
Marketing
Marketing is the process of influencing
voluntary exchange transactions in which
one party to the transaction can be
envisioned as a customer of the other,
the marketer. The marketing process
involves communication and requires a
mechanism or system to carry out the
exchange of the marketers product for
something of value.

Marketing
Marketing -55
Aspects
Two
or
Aspects
Two
or
Exchange
Exchange
more
more
mechanism
mechanism
parties
parties
Each
Each gives
gives
Communication
something
Communication
something
up
up
Each
Each receives
receives
something
something

Relationship Marketing

What is a Market?

Potential
Customer
s

Resource
s
Willingnes
s
Ability

The Marketing Mix:

An Overview
Product

Promotion

Place

Price

Product

Tangible goods
Service
Intangible idea
Total Product Concept

Place
How do goods get to the customer?
How quickly do they get there?
In what condition will they arrive?

Promotion
Advertising:

Direct or Mass Media

Personal Selling
Publicity
Sales Promotion

Promotion
Inform
Remind
Persuade

Price

Marketing Mix: A
Creative Activity
Product

Promotion Consumer

Price

Place

The Marketing
Environment

The
Consumer

The Uncontrollable
External Environment

Economic and competitive forces

Natural resources and physical factors
Science and technology
Political and legal forces
Demographic forces
Sociocultural forces

Business Philosophies

Market Orientation
Sales Orientation
Production Orientation

The Marketing Concept

1st Consumer orientation
2nd Stress long-run success
3rd Adopt a cross-functional perspective

Marketing and Society

Macromarketing
the delivery of a

standard of living
to society.

Marketing and Society

Micromarketing
having the right goods
or services at the
right time and the
right place in the right
assortment.

Why Study Marketing?

Career opportunities
Emerging cross-functional nature of
business
Entrepreneurial opportunities
More informed citizen and consumer
Part of being an educated person
For more information:
www.zikmund.swcollege.com

Summary
The function of marketing is to bring buyers and
sellers together. The primary emphasis of
marketing is an exchange process that involves
two or more parties trading things of value.

Review
Define & discuss marketing in its broadened
sense
ID elements of the marketing mix
Examine external environmental forces
Introduce the marketing concept
Recognize marketing's societal & economic
contribution
The social marketing concept
Understand why it is important to study
marketing