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
Aspects Two or
Exchange Two or
Exchange more
mechanism
mechanism more
parties
parties

Each
Each gives
gives
Communication
Communication something
something
up
up
Each
Each receives
receives
something
something
Relationship Marketing
 What is a Market?

Resource
s
Potential Willingnes
Customer s
Ability
s
 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 Place

Price
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