marketing the activity set of institutions and processes for creating communicating delivering and exchanging offerings that have value for customers clients I What is Marketing partners and society at large helping the buyer buy helps the seller sell production capacity often exceeded immediate market demand turned from producing to selling a The Evolution of Marketing 1 The Production Era 2 The Selling Era producers produce all they can b c there is a never ending demand 3 The Marketing Concept Era marketing concept a three part business philosophy a customer orientation find what customers want a service orientation everyone in organization has the same objective a profit orientation focus on most profitable goods services 4 The Customer Relationship Era customer relationship management CRM the process of learning as much as possible about customers and doing everything you can to satisfy them or even exceed their expectations with goods and services marketing mix the ingredients that go into a marketing program product price place and promotion b Nonprofit Organizations and Marketing II The Marketing Mix 1 Product 2 Price 3 Place 4 Promotion a Applying the Marketing Process find opportunities conduct research identify target market do product testing select a distribution system design a promotional program build a relationship with customers design a product to meet the need based on research determine a brand name design a package and set a price b Designing a Product to Meet Consumer Needs product any physical good service or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers such as the concept testing develop accurate description ask people if the idea appeals to them test marketing the process of testing products among potential users brand name a word letter or group of words or letters that differentiates one seller s goods and services from those of competitors brand c Setting an Appropriate Price d Getting the Product to the Right Place intermediaries middle links in a series of organizations that distribute goods from producers to consumers e Developing an Effective Promotional Strategy promotion all the techniques sellers use to inform people about and motivate them to buy their products or services III Providing Marketers with Information marketing research the analysis of markets to determine opportunities and challenges and to find the information needed to make good decisions a The Marketing Research Process 1 Defining the question and determining the present situation 2 Collecting research data secondary data information that has already been compiled by others and published in journals and books or made available online marketers gather this first to avoid unnecessary expenses primary data data that you gather yourself not from secondary sources such as books and magazines focus group a small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization its products or other given issues 3 Analyzing the research data 4 Choosing the best solution and implementing it continuous process IV The Marketing Environment environmental scanning the process of identifying the factors that can affect marketing success a Global Factors b Technological Factors c Sociocultural Factors d Competitive Factors e Economic Factors rent or supply goods to others V The Consumer Market Two Different Markets Consumers and Business To Business B2B consumer market all the individuals or households that want goods and services for personal consumption or use business to business B2B market all the individuals and organizations that want goods and services to use in producing other goods and services or to sell market segmentation the process of dividing the total market into groups whose members have similar characteristics target marketing marketing directed toward those groups market segments an organization decides it can serve profitably a Segmenting the Consumer Market geographic segmentation dividing a market by cites counties states or regions demographic segmentation dividing the market by age income and education level psychographic segmentation dividing the market using groups values attitudes and interests benefit segmentation dividing the market by determining which benefits of the product to talk about volume or usage segmentation dividing the market by usage volume of use b Reaching Smaller Market Segments niche marketing the process of finding small but profitable market segments and designing or finding products for them one to one marketing developing a unique mix of goods and services for each individual customer c Moving Toward Relationship Marketing mass marketing developing products and promotions to please large groups of people relationship marketing marketing strategy with the goal of keeping individual customers over time by offering them products that exactly meet their requirements d The Consumer Decision Making Process 1 problem recognition 2 information search 3 evaluate alternatives 4 make a purchase decision 5 consumer behavior Others learning reference group culture subculture cognitive dissonance VI The Business to Business Market 1 Relatively few customers 2 Customers are relatively large 3 Geographically concentrated 4 Business buyers are more rational and less emotional than ultimate consumers 5 tend to be direct 6 based on personal selling instead of advertising