Chapter-1.-Understanding-Marketing-Management.pdf

Understanding Marketing Management Key Terms: Needs and Wants Demands Product and Service Market Marketplace and Marketspace Marketplace is the physical, as when one goes shopping in a store. Marketspace is digital, as when someone shopping on the internet....

Understanding Marketing Management Key Terms: Needs and Wants Demands Product and Service Market Marketplace and Marketspace Marketplace is the physical, as when one goes shopping in a store. Marketspace is digital, as when someone shopping on the internet. TREY Chapter 1. Understanding Marketing research Management  What is marketing? Marketing is the the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals. Marketing is an exchange between firm and its customers. It indicates, the customer wants something from the firm and the firm wants something from the customer. Marketers try to figure out what customers want, and then they try to figure out how to provide it and make money in doing so. y. Customer Company TREY Chapter 1. Understanding Marketing research Management The Scope of Marketing TREY Chapter 1. Understanding Marketing research Management  What is Marketing Management? The analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organization objectives. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. TREY Chapter 1. Understanding Marketing research Management Marketing Core Concepts Needs, wants & demands Product and Relationship Service Exchange & Value and Transaction Satisfaction TREY Chapter 1. Understanding Marketing research Management  Market Market was a physical place where buyers and sellers gathered to buy and sell goods. Types of Market Consumer Market- The aim of buying is to consume for their own or somebody who has something to do with in consumer market. Business Market- Business buyers buy goods for their utility in enabling them to make or resell a product to others for the purpose of making profits. Global Market- Companies selling their goods and services in the global marketplace face additional decisions and challenges Non-profit and Government Market- Companies selling their goods to nonprofit organizations such as churches, universities, charitable organizations, or government agencies. Add a footer 8 TREY research Marketing Framework TREY Chapter 1. Understanding Marketing research Management Add a footer 10 TREY research Add a footer 11 TREY research Marketing Philosophies 1. The production concept- holds that consumers will prefers products that are widely available and inexpensive. 2. The product concept- holds that consumers will favor those products that offer the most quality, performance or innovative features. 3. The selling concept- holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization’s products. The organization must, therefore, undertake an aggressive selling and promotion effort 4. The marketing concept- holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization’s products. The organization must, therefore, undertake an aggressive selling and promotion effort. 5. The Holistic Marketing Concept- is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breath and interdependencies. TREY Chapter 1. Understanding Marketing research Management Holistic Marketing 1. Relationship Marketing 3. Integrated Marketing Customers Communications Channel Products and services Partners Channels 2. Internal Marketing 4. Performance Marketing Marketing department Sales revenue Senior management Brand and customer equity Other departments Ethics Environment Legal Community TREY Chapter 1. Understanding Marketing research Management  End of the presentation Thank you! Add a footer 14 TREY Chapter 1. Understanding Marketing research Management