Marketing and Consumer Behavior Better Business 1st Edition Poatsy · Martin © 2010 Pearson Education, Inc.1 chapter 12 Slide presentation prepared by Pam Janson Stark State College of Technology

Marketing Fundamentals Marketing oAn organizational function oA set of processes for creating, communicating, and delivering value to customers oManagement of customer relationships in ways that benefit the organization and its stakeholders Product oAny tangible good, service, or idea available for purchase in a market oPlus any intangible benefits derived from its consumption © 2010 Pearson Education, Inc. Publishing as Prentice Hall 2

Marketing Benefits Stakeholders Customers oValue = benefits/costs oUtility Form Ownership Time Place Sellers Investors Employees Society © 2010 Pearson Education, Inc. Publishing as Prentice Hall 3

Marketing Strategy © 2010 Pearson Education, Inc. Publishing as Prentice Hall 4

The 4 Ps © 2010 Pearson Education, Inc. Publishing as Prentice Hall 5 Product differentiation Brand Product Cover costs Competitively priced Price Inform and persuade customers to buy Build positive customer relationships Promotion Distribution channel Distributors and wholesalers Place

The Marketing Process © 2010 Pearson Education, Inc. Publishing as Prentice Hall 6

The Marketing Plan A written document with: A clearly written marketing objective Performance of situational SWOT analysis Selection of a target market Implementation, evaluation, and control of the marketing mix (the 4 Ps) © 2010 Pearson Education, Inc.7