© Prentice Hall, 2007Excellence in Business, 3eChapter The Art and Science of Marketing

© Prentice Hall, 2007Excellence in Business, 3eChapter Marketing in a Changing World Planning New ProductExecution PricingDistributionAdvertising

© Prentice Hall, 2007Excellence in Business, 3eChapter What is Marketing? IndividualObjectivesOrganizationalObjectives ConceptionPricingPromotionDistribution IdeasServicesGoods

© Prentice Hall, 2007Excellence in Business, 3eChapter Core Marketing Concepts Goods and Services Value, Quality and Satisfaction Exchange, Transaction and Relationships Needs, Wants, and Demands Markets

© Prentice Hall, 2007Excellence in Business, 3eChapter Types of Marketing Product Marketing Place Marketing Cause-Related Marketing Exchanges Transactions NeedsWants

© Prentice Hall, 2007Excellence in Business, 3eChapter The Role of Marketing Needs and Wants Exchange Process Transactions

© Prentice Hall, 2007Excellence in Business, 3eChapter TimeForm PlacePossession The Four Utilities

© Prentice Hall, 2007Excellence in Business, 3eChapter Selling Concept vs. Marketing Concept Starting Point FocusMeansEnds Existing Products Factory Selling and Promoting Profits Through Sales Volume Customer Needs Market Integrated Marketing Profits Through Customer Satisfaction The Selling Concept The Marketing Concept

© Prentice Hall, 2007Excellence in Business, 3eChapter Customer Satisfaction Positive Customer Experiences Negative Customer Experiences Greater customer loyalty Positive “word of mouth” More sales opportunities Less price sensitivity Damaged business reputation Negative “word of mouth” Fewer sales opportunities Reduced business prospects

© Prentice Hall, 2007Excellence in Business, 3eChapter Marketing on the Leading Edge Increased Accountability Technology and the Human Touch Business Ethics and Etiquette Permission-Based Marketing Permission-Based Marketing Stealth Marketing Electronic Commerce Electronic Commerce Choices, Beliefs, and Emotions Choices, Beliefs, and Emotions Tracking Investments Measuring Sales

© Prentice Hall, 2007Excellence in Business, 3eChapter Understanding Today’s Customers Sophisticated Price Sensitive Demanding Informed

© Prentice Hall, 2007Excellence in Business, 3eChapter Understanding Today’s Customers Organizational Market Consumer Market Industry/CommerceIndustry/CommerceResellersResellers GovernmentGovernmentIndividualsIndividualsFamiliesFamilies HouseholdsHouseholds

© Prentice Hall, 2007Excellence in Business, 3eChapter The Consumer Decision Process Need Recognition Need Recognition Information Search Information Search Evaluation of Alternatives Evaluation of Alternatives Purchase Postpurchase Evaluation Postpurchase Evaluation

© Prentice Hall, 2007Excellence in Business, 3eChapter Factors That Influence the Buyer’s Decision Culture Social Class Reference Groups Self-Image Situational Factors

© Prentice Hall, 2007Excellence in Business, 3eChapter Purchasing in Organizations Decision-Making Factors Economics and Logic Formal Buying Procedures Multi-PartyParticipationBuyer-SellerRelationship

© Prentice Hall, 2007Excellence in Business, 3eChapter Marketing Research ObservationsObservationsSurveysSurveysInterviewsInterviews Focus Groups Process Data Collection CollectionExperimentsExperiments

© Prentice Hall, 2007Excellence in Business, 3eChapter Database Marketing Recording Analyzing Transacting Contacting Customers BehaviorsPreferencesInteractions

© Prentice Hall, 2007Excellence in Business, 3eChapter Planning Marketing Strategies Examine Current Marketing Situation 1 1 Assess Opportunities and Set Objectives 2 2 Develop Marketing Strategies 3 3

© Prentice Hall, 2007Excellence in Business, 3eChapter Examine the Current Marketing Situation ReviewPerformance Examine Strengths and Weaknesses EvaluateCompetition Analyze External Environment

© Prentice Hall, 2007Excellence in Business, 3eChapter Assess Opportunities and Set Objectives Market Penetration GeographicExpansion New-ProductDevelopment Diversification

© Prentice Hall, 2007Excellence in Business, 3eChapter Develop the Marketing Strategy Segments and Niches Market Position Target Markets Marketing Mix

© Prentice Hall, 2007Excellence in Business, 3eChapter Segmenting Markets Behavior Geodemographics Loyalty Usage Geographics Demographics Psychographics

© Prentice Hall, 2007Excellence in Business, 3eChapter Target Market Strategies Marketing Mix 1 Marketing Mix 2 Marketing Mix 3 Segment 1 Segment 2 Segment 3 Company Marketing Mix Company Company Company Segment 1 Segment 2 Segment 3 MarketMarket UndifferentiatedDifferentiatedConcentrated

© Prentice Hall, 2007Excellence in Business, 3eChapter Positioning the Product FeaturesFeaturesImageImageServicesServicesCategoryLeadershipCategoryLeadership

© Prentice Hall, 2007Excellence in Business, 3eChapter Developing the Marketing Mix Social Responsibility Business Ethics PromotionPlace PriceProductCompetitionEconomicsNature PoliticsRegulationTechnology Society Target Market