2. What is Marketing?
Marketing - Process of planning & executing the
conception, pricing, promotion and distribution of
ideas, goods, and services to create exchanges that
satisfy individual and organizational objectives.
Marketplace – the commercial environment where
we make exchanges (Buyers & Sellers)
$ exchanged for goods & services
Labor exchanged for wages
Goods exchanged for other goods

3. Marketing begins with PEOPLE
With the development & marketing of any product,
both the consumer & customer are in CONTROL
Examples:
 1. Breakfast Cereals
 2. Ice Cream
 3. Specialty Goods & Services
 4. Others
WHY????

4. The Market – all potential customers & consumers for
a product
Great market diversity is based on product
specialization & market competition
Behind these products are market researchers,
product planners, warehouse and trucking
companies, professional buyers & sellers, and
advertising specialists

5. Product
• Marketers ask…
– What product to make?
– When to make it?
– What level of quality to produce?
– How many to offer for sale?
– How to package and label it?
In order to do this…
• Marketers must anticipate their customers’ present
and future needs

6. PRICE
Definition:
the price a customer is willing to pay and the price at
which a marketer is willing to offer a product
determines the exchange
What influences the PRICE?
a # of suppliers
b # of customers
c the availability of product

7. PLACE
Marketers look for the “ULTIMATE CONSUMERS”
a. DECISION based on how product will get from
producers/manufacturers to people who use them
b. DECISION can be to market products directly to
consumers
c. DECISION can be to market through
intermediaries (Wholesalers and Retailers)
d. Getting product conveniently to customer
(essential to the marketing mix)

8. PROMOTION
Includes ALL the activities designed to bring goods
and services of company to the attention of the
customer
Marketers educate potential customers through
newspapers, radio, TV, magazines, internet
advertisements, billboards, direct mail, etc….

9. Marketing Mix
Set of marketing tools Marketing Mix Enhanced
firm uses to implement
it’s marketing (PEOPLE) – Most important
strategy!! element of any service/exp.
THE 4 P’s (PHYSICAL EVIDENCE) –
(PRODUCT) uniforms, facilities, livery
(PRICE) -The material part of service
(PLACE)
(PROCESS) – the whole
(PROMOTION) customer experience
- A visit to Disney World

10. Are any of
the 4 P’s
more
important
than
another?

11. What else is INCLUDED in the
Marketing Mix?
1. Research & Development (R&D)
 the essence of product & service quality
1. Market Research
 the key to understanding the marketing mix
1. Packaging
 the presentation of products to enhance visibility and to
highlight quality
1. Pricing
 A key to distribution positioning
1. Advertising Copy
 the message you want to say

12. 6. Advertising Media
 The vehicle to present the message
7. Selecting the Channels of Distribution
 Placing the product in the right venue
8. Public Relations
 Enhancing positive awareness
9. Trade Promotions
 Task of obtaining in-store product visibility
10. Consumer Sales Promotions
 The addition of “borrowed value” to goods and services
 Examples: coupons, rebates, etc……

13. What is the KEY to
SUCCESS?
RESEARCH & REVIEW the
Marketing Mix of the
Competition in order to
determine marketing choices
of goods & services