Presentation on theme: " Marketing-- creation and maintenance of satisfying an exchange relationship Concept– › 1:something conceived in the mind : thought, notionconceivedthought."— Presentation transcript:
Marketing-- creation and maintenance of satisfying an exchange relationship Concept– › 1:something conceived in the mind : thought, notionconceivedthought notion › 2 : an abstract or generic idea generalized from particular instances What do you think the marketing concept is???
IDENTIFY NEEDS OF CUSTOMERS OPERATE A BUSINESS PROFITABLY DEVELOP AND MARKET PRODUCTS OR SERVICES
What do customers want/need (how do we find out???) Satisfying needs= happy customers Happy customers = return business Return business = increased business
Don’t make products that no one will purchase How do people find out about new or improved products How do we make our products BETTER than others?
Profit: a valuable return; the excess of selling the price of goods over their cost Remember…happy customers will talk to other people!!!
Using needs of customers as the primary focus during the planning, production, distribution and promotion of a product or service.
Id market Develop marketing mix › Product › Price › Place › Promotion
What is a market? › The description of the prospective customers a business wants to serve › The location of those customers Basically…WHO DO WE WANT TO MARKET OUR PRODUCT TO??
Blending of four marketing elements by the business The “4 Ps” › Product anything offered to market › Price amount that customer pays › Place locations and methods to make product available to customer › Promotion Methods and information to encourage purchase