 Marketing-- creation and maintenance of satisfying an exchange relationship  Concept– › 1:something conceived in the mind : thought, notionconceivedthought.

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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