Presentation on theme: "Presented by robert cascio doctoral candidate, department of marketing, university of central florida."— Presentation transcript:
presented by robert cascio doctoral candidate, department of marketing, university of central florida
what is marketing? American Marketing Association definition: “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
what do people in marketing do? segmenttarget position
segment identifying deliberate, specific groups of individuals with one or more common characteristics.
target prepare and deliver specific messages aimed at these deliberate, specific groups of individuals.
position strategically determine how the product or service is perceived in the minds of the customers.
segment, target, position how do we do this?
4P’s of marketing productpricepromotionplace
product the tangible good or the intangible service we want consumers to purchase a collection or bundle of benefits being offered can include an actual item and the customer service or guarantee that comes with it what the consumer perceives is most important – this means how it is positioned
price cost of the item payment terms – immediate or delayed method of payment – cash, bank card, paypal, personal check, invoice, online payment what is most important is the value perceived by the customer – price can influence this value.
place how can the product be acquired exclusive distribution or non-exclusive distribution retail store internet only in certain countries or cities what is most important is the consumer’s perception from the choices that marketers make with regard to place.
promotion how do we tell consumers about our product or service what specifically do we tell them? where do we tell them this? who or what tells them this information? how often do we tell them? why do we tell them?.
promotion mix advertising publicity public relations personal selling direct marketing.
summary: 4P’s of marketing productpricepromotionplace
why people choose marketing? – 4F’s financialfreedom flexibilityfun
financial anyone interested in a good income? paid according to performance, particularly in sales many top corporate executives are from marketing backgrounds.
freedom limited desk and office time excellent career opportunities positions are self-funded marketers are revenue creators sales is recession proof.
flexibility marketing encompasses many functions: – product development – pricing strategies – distribution methods – promotion personal selling, advertising, public relations – non-profit sector – services sector – e-business.
fun creative consumer behavior advertising design learn about multiple business types
fun marketing examples product advertising product advertising international advertising international advertising consumer promotion consumer promotion consumer usage consumer usage public responsibility public responsibility