© South-Western Publishing MARKETING TODAY What Is Marketing? 1.2 Businesses Need Marketing 1.3 Understanding the Marketing Concept 1.4 Marketing’s Role Today and Tomorrow

© South-Western Publishing WHAT IS MARKETING? GOALS GOALS for Lesson 1.1 Understand the importance of studying marketing. Explain what marketing is and describe the marketing functions. Define marketing.

© South-Western Publishing Why Study Marketing? Where does marketing take place? All types of businesses use marketing

© South-Western Publishing Businesses Directly Involved in Marketing Advertising agencies Marketing research firms Sales representatives Trucking companies Credit card companies Telemarketing businesses Travel agencies

© South-Western Publishing Businesses with Major Marketing Activities Retailers Manufacturers Banks Real estate agencies Insurance companies Automobile dealers Farmers and ranchers

© South-Western Publishing Businesses with Limited Marketing Role Law offices Physicians Accounting firms Government agencies Universities Construction businesses Public utilities

© South-Western Publishing What Is Marketing? Marketing functions Product/service management Distribution Selling Marketing-information management Financing Pricing Promotion Companies use the marketing functions

© South-Western Publishing Defining Marketing Marketing Marketing is the creation and maintenance of satisfying exchange relationships.

© South-Western Publishing BUSINESSES NEED MARKETING GOALS GOALS for Lesson 1.2 Explain why businesses need marketing. Understand how marketing has developed in the business world. Describe the functions of business.

© South-Western Publishing The Need for Marketing Marketing must be carefully planned. Marketing must be coordinated with other business activities.

© South-Western Publishing Marketing and the Development of Business Bartering Specialization of labor Money systems Central markets Other marketing activities

© South-Western Publishing The Functions of Business Production Raw materials Processing Services Operations Accounting and finance Management and administration Marketing Coordination of business functions

© South-Western Publishing UNDERSTANDING THE MARKETING CONCEPT GOALS GOALS for Lesson 1.3 Define the marketing concept. Determine how businesses implement the marketing concept.

© South-Western Publishing The Marketing Concept Satisfying customer needs The consequences of not satisfying customer needs

© South-Western Publishing Elements of the Marketing Concept Identify needs of customers Develop and market products or services Operate a business profitably

© South-Western Publishing Implementing the Marketing Concept Identify the market Develop a marketing mix Product Distribution or place Price Promotion

© South-Western Publishing Marketing’s Role Today and Tomorrow GOALS GOALS for Lesson 1.4 Describe the changing role of marketing. Summarize how marketing is changing and why marketing is important.

© South-Western Publishing The Changing Role of Marketing Production emphasis Sales emphasis Marketing department emphasis Marketing concept emphasis

© South-Western Publishing Philosophy of Marketing Production Era: 1900s-1920s Emphasis on production and distributing new products Sales Era: 1930s-1940s Emphasis on using advertising and salespeople to convince customers to buy a company’s products Marketing Department Era: 1950s-1960s Emphasis on developing many new marketing activities to sell products Marketing Concept Era: 1970s-Today Emphasis on satisfying customers’ needs with a carefully developed marketing mix

© South-Western Publishing The Changing Definition of Marketing Marketing in other organizations Marketing is important

© South-Western Publishing The Progress of Marketing Marketing as a variety of activities Marketing as promotion Marketing as selling Marketing as distribution The Progress of Marketing