This document discusses key concepts in marketing from a global managerial perspective. It defines marketing as anticipating customer needs and directing the flow of goods and services to meet those needs. It also discusses how marketing has evolved from a sales focus to a customer satisfaction focus. Finally, it notes that customer value is determined by comparing the benefits and costs of a product or service from the customer's perspective, and that non-profits also need effective marketing approaches.

1. Basic Marketing A Global-Managerial Approach Stanley J. Shapiro Kenneth Wong William D. Perreault, Jr. E. Jerome McCarthy

2. Chapter 1: Marketing’s Role within Organizations

3. Marketing Defined 1-3 Micro-marketing The performance of activities that seek to accomplish an organization’s objectives by anticipating customer needs and directing the flow of need-satisfying goods and services. Macro-marketing A social process that directs an economy’s flow of goods and services to effectively match supply and demand and to meet society’s objectives.

4. Utility and Marketing From Production From Marketing 1-4 Exhibit 1-1 Form Task Time Place Possession Utility Value that comes from satisfying human needs

5. Marketing’s Changing Role 1-5 Simple Trade Era Production Era Sales Era Marketing Department Era Marketing Company Era Sell Surplus Increase Supply Beat Competition Coordinate and Control Long-Run Customer Satisfaction Focus: Focus: Focus: Focus : Focus :

6. The Marketing Concept Profit Customer Satisfaction Total Company Effort The Marketing Concept 1-6 Exhibit 1-2

7. Customer Value Reflects Benefits and Costs Costs Benefits Customer value concerns the difference between the benefits a customer sees from a firm’s market offering and the costs of obtaining those benefits The customer’s view of costs and benefits is not just limited to economic (or even rational) considerations--and a low price may NOT result in superior value. 1-7

8. Nonprofits Need Marketing, Too 1-8 Poorly Organized for Marketing Non- Customer Support Non- Economic Measures Characteristics of Nonprofit Organizations