MARKETING BASICS Chapter 1.1. What is Marketing? Creation and maintenance of satisfying exchange...
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Transcript of MARKETING BASICS Chapter 1.1. What is Marketing? Creation and maintenance of satisfying exchange...
MARKETING BASICS
Chapter 1.1
What is Marketing?
Creation and maintenance of satisfying exchange relationships.
AKA: creating and modifying a product to meet customer needs and make the business money.
The Marketing Mix
The Marketing Mix: 3 P’s & a D Product
satisfy need Price
$ cust. pays Promotion
Making cust. aware & encouraging to buy
Distribution Making prod
available
S&E Marketing Mix
The Super Bowl The Big E
6 Core Standards of Marketing
Basis for all marketing activities:1. Distribution2. Marketing-Info Management3. Pricing4. Product/Service Management5. Promotion6. Selling Financing
Distribution
The best way to get the prod/srvc to cust.
Market-Information Management Researching cust. to meet their
needs/wants.
Pricing
Establishing price AND telling the cust.
Product/Service Management Designing, developing, maintaining,
improving, acquiring to … MEET CUST NEEDS
Promotion
Sharing prod/srvc info to cust. through ads, images, and ideas
Commercial
Selling
Cash exchange through direct, personal communication to satisfy cust. needs/wants
Financing
Budgeting for marketing to help pay for prod/srvc.
Assignment
List and describe how the 6 core standards of marketing were involved in a recent purchase you made.