Slide 1Slide 2Slide 3MARKETINGMS = TM + MMTARGET MARKETSlide 7MARKETING MIX- The 4 P’s!THE MARKETING CONCEPTRELATIONSHIP MARKETINGVALUE-DRIVEN MARKETINGMARKETING GOLDEN Chapter #1MARKETING GOLDEN Chapter #1MARKETING GOLDEN Chapter #1MARKETING GOLDEN Chapter #1MARKETING►The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.MARKETING GOLDEN Chapter #1MS = TM + MMMarketing StrategyMARKETING GOLDEN Chapter #1TARGET MARKETA specific group of customers on whom an organization focuses its marketing effortsMARKETING GOLDEN Chapter #1MARKETING GOLDEN Chapter #1MARKETING MIX- The 4 P’s!Product: Good, service, or idea.Place/Distribution: Products must be available at the right time, in the right quantities, and in convenient locations.Promotion: Communication- inform and persuade individuals about an organization and its products.Price: Establish pricing objectives, policies, and prices.MARKETING GOLDEN Chapter #1THE MARKETING CONCEPT•A philosophy or a way to conduct business•Satisfy customer needs•Affects all aspects of an organization•Allows organization to achieve its own goals•Marketing OrientationMARKETING GOLDEN Chapter #1RELATIONSHIP MARKETING•Establishing long-term, mutually satisfying buyer-seller relationshipsMARKETING GOLDEN Chapter #1VALUE-DRIVEN MARKETING•Value: Customers subjective assessment of benefits relative to costs in determining the worth of a product•Value = Customer Benefits – Customer