marketing basics chapter 1.1. what is marketing? creation and maintenance of satisfying exchange...
TRANSCRIPT
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MARKETING BASICS
Chapter 1.1
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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.
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The Marketing Mix
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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
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S&E Marketing Mix
The Super Bowl The Big E
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6 Core Standards of Marketing
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Basis for all marketing activities:1. Distribution2. Marketing-Info Management3. Pricing4. Product/Service Management5. Promotion6. Selling Financing
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Distribution
The best way to get the prod/srvc to cust.
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Market-Information Management Researching cust. to meet their
needs/wants.
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Pricing
Establishing price AND telling the cust.
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Product/Service Management Designing, developing, maintaining,
improving, acquiring to … MEET CUST NEEDS
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Promotion
Sharing prod/srvc info to cust. through ads, images, and ideas
Commercial
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Selling
Cash exchange through direct, personal communication to satisfy cust. needs/wants
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Financing
Budgeting for marketing to help pay for prod/srvc.
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Assignment
List and describe how the 6 core standards of marketing were involved in a recent purchase you made.