HIGHLINE COMMUNITY COLLEGEBrief Chapter OutlinesHIGHLINE COMMUNITY COLLEGEPrinciples of MarketingExam 1 ReviewNote: Read the “Reviewing the Concepts” section at the end of each chapter.Brief Chapter Outlines1. Marketing: Managing Profitable Customer Relationships What is marketing? Satisfying customer needs profitably. What is the Marketing Process? See Figure 1.1 Understanding the marketplace and consumer customer needs.- Needs, Wants, Demands- Marketing offers – Products, Services, Experiences- Customer Value and Satisfaction- Exchanges- Markets Customer Driven Marketing Strategy- Production Concept- Product Concept- Selling Concept- Marketing Concept- Societal Marketing Concept The changing nature of customer relationships Capturing value from customers- Customer equity2. Company and Marketing Strategy Companywide Strategic Planning: Defining Marketing’s Role- Defining a Market-oriented Mission- What is strategic planning?- Developing the Marketing Mix3. The Marketing Environment What is the microenvironment? Company, suppliers, employees, intermediaries, customers, competitors, publics (p. 67) What is the macroenvironment?- Demographic environment- Economic environment- Natural environment (raw materials)- Technological environment- Political environment- Cultural environment4. Managing Marketing Information Why gather? How to gather.- Internal data- Marketing intelligence- Marketing research- Primary data- Secondary5. Consumer Markets and Consumer Buyer Behavior What affects consumer behavior?- Cultural factors- Social factors- Personal factors- Psychological factors The Buyer Decision Process- Need recognition- Information search- Evaluation of alternatives- Purchase decision- Post-purchase behavior Stages in the Adoption Process- Awareness- Interest- Evaluation- Trial- Adoption6. Markets and Business Buyer Behavior Characteristics of Business Markets- Marketing Structure and Demand- Nature of the Buying Unit- Types of Decisions and the Decision Process Major Influences on Business Buyers- Environmental- Organizational- Interpersonal- Individual Stages in the Business Buying Process- Problem Recognition- General Need Description- Product Specifications- Proposal Solicitation- Order- Post-order Performance Review7. Segmentation, Targeting, and Positioning: Building the RightRelationships with the Right Customers Why segment markets? Segmenting Consumer Markets- Geographic segmentation- Demographic segmentation- Psychographic segmentation- Behavioral