Marketing Chapter 1 Notes
Chapter One Notes: Overview of Marketing
Chapter 1 Objectives
• Define marketing and explain its core concepts • Discuss how marketers create value for a product or service • Explain the four orientations of marketing • Discuss the role of customer relationship management in creating value • Discuss the importance of marketing both within and outside the firm
Chapter Road
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What is Marketing? • The marketing Umbrella: o Product o Price o Distribution o Advertising o Target Market o Enviroment o Research o Selling • Definitions of Marketing: o Marketing is the performance of business activities that direct the flow of goods and services from the producer to the consumer. o Marketing is getting the right goods and services to the right people at the right place with the right communication and promotion. o Marketing is a social and managerial process by which individuals/groups get what they need and want through creating and exchanging products and values with others. o Marketing is the process of buying and selling. o Marketing is those activities performed by individuals or organizations that enable, facilitate and encourage exchange to the satisfaction of both parties. o A set of business practices designed to plan for and present an organization’s products or services in ways that build effective customer relationships • Marketing is not: o Simply about buyers and sellers exchanging money for goods and services o Simply about making a profit • Marketing IS: o Marketing is an organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders • Marketing plan: a written document composed of an analysis of the
Chapter 1 Objectives
• Define marketing and explain its core concepts • Discuss how marketers create value for a product or service • Explain the four orientations of marketing • Discuss the role of customer relationship management in creating value • Discuss the importance of marketing both within and outside the firm
Chapter Road
[pic]
What is Marketing? • The marketing Umbrella: o Product o Price o Distribution o Advertising o Target Market o Enviroment o Research o Selling • Definitions of Marketing: o Marketing is the performance of business activities that direct the flow of goods and services from the producer to the consumer. o Marketing is getting the right goods and services to the right people at the right place with the right communication and promotion. o Marketing is a social and managerial process by which individuals/groups get what they need and want through creating and exchanging products and values with others. o Marketing is the process of buying and selling. o Marketing is those activities performed by individuals or organizations that enable, facilitate and encourage exchange to the satisfaction of both parties. o A set of business practices designed to plan for and present an organization’s products or services in ways that build effective customer relationships • Marketing is not: o Simply about buyers and sellers exchanging money for goods and services o Simply about making a profit • Marketing IS: o Marketing is an organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders • Marketing plan: a written document composed of an analysis of the