REWARDS OF MARKETING

presented by robert casciodoctoral candidate, department of marketing, university of central florida

what is marketing?

American Marketing Association definition:

“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

what do people in marketing do?

•segment

•target

•position

segment

identifying deliberate, specific groups of individuals with one or more common characteristics.

target

prepare and deliver specific messages aimed at these deliberate, specific groups of individuals.

position

strategically determine how the product or service is perceived in the minds of the customers.

segment, target, position

how do we do this?

4P’s of marketing

product price

promotion place

product

the tangible good or the intangible service we want consumers to purchase

a collection or bundle of benefits being offered

can include an actual item and the customer service or guarantee that comes with it

what the consumer perceives is most important – this means how it is positioned

price

cost of the item payment terms – immediate or

delayed method of payment – cash, bank

card, paypal, personal check, invoice, online payment what is most important is the value

perceived by the customer – price can influence this value.

place

how can the product be acquired exclusive distribution or non-exclusive

distribution retail store internet only in certain countries or cities

what is most important is the consumer’s perception from the choices that marketers make with regard to place.

promotion

how do we tell consumers about our product or service

what specifically do we tell them? where do we tell them this? who or what tells them this

information? how often do we tell them? why do we tell them?.

promotion mix

advertising publicity public relations personal selling direct marketing.

summary: 4P’s of marketing

product price

promotion place

why people choose marketing? – 4F’s

financial

freedom

flexibility fun

financial

anyone interested in a good income?

paid according to performance, particularly in sales

many top corporate executives are from marketing backgrounds.

freedom

limited desk and office time

excellent career opportunities positions are self-

funded marketers are

revenue creators

sales is recession proof.

flexibility

• marketing encompasses many functions:– product development– pricing strategies– distribution methods– promotion• personal selling,

advertising, public relations

– non-profit sector– services sector– e-business.

fun

creative consumer behavior advertising design learn about

multiple business types

fun marketing examples

product advertising international advertising consumer promotion consumer usage public responsibility

summary: why choose marketing?

financial

freedom

flexibility fun

summary: 4P’s of marketing

product price

promotion place

thank you

is a marketing career best for you?

www.robertcascio.com – more information about research and opportunities in marketing

robertcascio@knights.ucf.edu – my email for comments or questions