Marketing Defined
Marketing is: All the activities involved in getting a product or service from the producer to the consumer.
All the activities are called the Marketing Functions.
The 10 Marketing Functions are: Buying, Selling, Servicing, Financing, Pricing, Packaging, Warehousing, Transportation, Market Research and Promotion.
All the activities are called the Marketing Functions.
The 10 Marketing Functions are: Buying, Selling, Servicing, Financing, Pricing, Packaging, Warehousing, Transportation, Market Research and Promotion.
What is Marketed?
Durable Goods, Non-Durable Goods, Services, People, Ideas, Places and Organizations are all marketed.
Marketing Concept
The Marketing Concept states: if you give people what they want, you will make money. Put the love and attention on the people and the money will follow. Put your attention on the money and you will miss the mark.
Production Orientation versus Marketing Orientation
Production Orientated firms focus on short-term goals, product and sale-volume focused.
Marketing Orientated firms focus on long-term goals, profit and customers.
Marketing Orientated firms focus on long-term goals, profit and customers.
Marketing Mix
The marketing mix is made up of five elements, otherwise known as the 5P's of marketing.
Product
Place
Price
Promotion
People
Product
Place
Price
Promotion
People
Channels of Distribution
The "route" a product takes from the producer to the consumer.
The Direct Channel: from producer to the consumer
Indirect Channels uses middlemen/intermediaries
1. from producer to retailer to consumer
2. from producer to wholesaler to retailer to consumer
3. from producer to agent to wholesaler to retailer to consumer
The Direct Channel: from producer to the consumer
Indirect Channels uses middlemen/intermediaries
1. from producer to retailer to consumer
2. from producer to wholesaler to retailer to consumer
3. from producer to agent to wholesaler to retailer to consumer
Distribution Intensity/Channel Strategy
1. Selective: the image of the product must meet the image of the retailer
2. Intensive: the product is highly competitive and it must be available everywhere. If it is not, the customer will buy their competitor.
3. Integrated: the producer acts as the retailer. Fanny Farmer Candy makes Fanny Farmer Candy and sells Fanny Farmer Candy in the Fanny Farmer store.
2. Intensive: the product is highly competitive and it must be available everywhere. If it is not, the customer will buy their competitor.
3. Integrated: the producer acts as the retailer. Fanny Farmer Candy makes Fanny Farmer Candy and sells Fanny Farmer Candy in the Fanny Farmer store.
CLICK on the document below for a really good review sheet.
introduction_to_marketing_review.docx | |
File Size: | 27 kb |
File Type: | docx |
CLICK on the document below for the lesson plans and vocabulary found in this unit.
intro_to_mkt_lesson_plans.docx | |
File Size: | 22 kb |
File Type: | docx |