MARKETING 1. ACTIVITIES DIRECTED TOWARD IDENTIFYING AND SATISFYING CUSTOMER NEEDS AND WANTS THROUGH A PROCESS OF EXCHANGE 2. THE PROCESS OF PLANNING AND EXECUTING THE CONCEPTION, PRICING,PROMOTION AND DISTRIBUTION OF IDEAS, GOODS AND SERVICES TO CREATE EXCHANGES THAT SATISFY INDIVIDUAL AND ORGANIZATIONAL EXCHANGE MARKETING IS MORE THAN SELLING SELLING CONCEPT STARTS WITH EXISTING PRODUCT IN THE FACTORY AND CALLS PROMOTIONAL EFFORTS TO ACCOMPLISH PROFITABLE SALES MARKETING CONCEPT STARTS WITH CLEARLY DEFINED MARKET, FOCUSES ON CUSTOMER NEEDS AND WANTS, AND COORDINATE ALL MARKETING ACTIVITIES(PRODUCT CREATION, DISTRIBUTION, PROMOTION ETC) TO OBTAIN PROFITS.

MARKETING RESEARCH INVOLVES COLLECTING AND USING INFORMATION FOR MAKING MARKETING DECISIONS TYPES OF RESEARCH DESIGN EXPLORATORY RESEARCH (INVESTIGATING THE MAIN PURPOSE) CAUSAL RESEARCH (INVESTIGATING THE RELATIONSHIP, CAUSE AND EFFECT OF EVENTS) DESCRIPTIVE RESEARCH (IDENTIFYING THE CUSTOMER OR PRODUCT PROFILE)

MARKETS SELLER’S MARKET MANY BUYERS, FEW PRODUCTS BUYER’S MARKET FEW BUYERS, MANY PRODUCTS SEGMENTED MARKET CUSTOMERS WITH SIMILAR CHARACTERISTICS MASS MARKET CUSTOMERS WITH DIFFERENT CHARACTERISTICS CONSUMER MARKETS BUSINESS MARKETS

SEGMENTING THE MARKETS CONSUMER MARKET SEGMENTATION GEOGRAPHIC SEGMENTATION DEMOGRAPHIC SEGMENTATION PSYCHOGRAPHICS SEGMENTATION GEO-DEMOGRAPHIC SEGMENTATION USAGE RATE SEGMENTATION BENEFIT SEGMENTATION BUSINESS MARKET SEGMENTATION SEGMENTING BY ORGANIZATIONAL CHARACTERISTICS BENEFIT SEGMENTATION

CONSUMER BEHAVIOR RELATES TO THE ACTIONS AN INDIVIDUAL TAKES IN PURCHASING AND USING PRODUCTS FACTORS AFFECTING CONSUMER BEHAVIOR PSYCHOLOGICAL FACTORS MOTIVATION, PERSONALITY, PERCEPTION, LEARNING, VALUES, BELIEFS, ATTITUDES, LIFESTYLE ETC. SOCIO-CULTURAL FACTORS WORD-OF-MOUTH, OPINION LEADERS, FAMILY INFLUENCES, SOCIAL CLASS, CULTURES AND SUB-CULTURES

MARKETING MIX ( 4 P OR P3D ) PRODUCTPRICINGPROMOTION DISTRIBUTION (PLACE)

PRODUCT ANYTHING THAT CAN BE OFFERED TO MARKET BY THE COMPANIES THAT MIGHT SATISFY CUSTOMERS’ NEEDS AND WANTS SERVICE A FORM OF PRODUCT THAT CONSISTS OF ACTIVITIES, BENEFITS OFFERED FOR SALE THAT ARE ESSENTIALLY INTANGIBLE TYPES OF PRODUCTS (BY THE DEGREE OF PRODUCT TANGIBILITY) DURABLE PRODUCTS NON-DURABLE PRODUCTS ** PACKAGED ** PACKAGED **UNPACKAGED **UNPACKAGED (BY THE TYPE OF ITS USER) (BY THE TYPE OF ITS USER) CONSUMER PRODUCTS **CONVENIENCE PRODUCTS **CONVENIENCE PRODUCTS **SHOPPING PRODUCTS **SHOPPING PRODUCTS **SPECIALITY PRODUCTS **SPECIALITY PRODUCTS INDUSTRIAL PRODUCTS **PRODUCTION PRODUCTS **PRODUCTION PRODUCTS **SUPPORT PRODUCTS **SUPPORT PRODUCTS

PRODUCT LIFE CYCLE INTRODUCTION STAGE GROWTH STAGE MATURITY STAGE DECLINE STAGE PRODUCT LIFE CYCLE CAN BE EXTENDED THROUGH PRODUCT MODIFICATIONS MARKET MODIFICATIONS PRODUCT REPOSITIONING

STAGES OF THE NEW PRODUCT DEVELOPMENT IDEA GENERATION SCREENING PRODUCT DEVELOPMENT PRODUCT MARKET TESTING BUSINESS ANALYSIS COMMERCIALIZATION

PRODUCT MIX AND PRODUCT LINES PRODUCT LINES (GROUP OF CLOSELY RELATED PRODUCT ITEMS THAT A COMPANY OFFERS TO THE MARKET) PRODUCT MIX (INCLUDES ALL DIFFERENT PRODUCT LINES THAT A COMPANY OFFERS TO THE MARKET)

BRANDINGBRAND (NAME, SIGN, SYMBOL ETC.) (NAME, SIGN, SYMBOL ETC.) BRAND EQUITY (REFERS TO VALUE OF BRAND) (REFERS TO VALUE OF BRAND) BRAND LOYALTY (CONSUMERS’ PREFERING PARTICULAR BRAND) (CONSUMERS’ PREFERING PARTICULAR BRAND) BRAND RECOGNITION BRAND RECOGNITION BRAND PREFERENCE BRAND PREFERENCE BRAND INSISTENCE BRAND INSISTENCETRADEMARKS (BRANDS UNDER LEGAL PROTECTION) (BRANDS UNDER LEGAL PROTECTION)

BRANDING MANUFACTURER’S BRAND (BRANDS OWNED BY MANUFACTURER) (BRANDS OWNED BY MANUFACTURER) PRIVATE BRAND (BRANDS OWNED BY WHOLESALER OR RETAILER) (BRANDS OWNED BY WHOLESALER OR RETAILER) GENERIC PRODUCTS (UNBRANDED PRODUCTS) (UNBRANDED PRODUCTS)PACKAGE (HOLDS THE CONTENTS AND PROTECTS PRODUCTS) (HOLDS THE CONTENTS AND PROTECTS PRODUCTS)LABELING (PROMOTIONAL OR INFORMATIONAL LOGO OR THEME) (PROMOTIONAL OR INFORMATIONAL LOGO OR THEME) PERSUASIVE LABELLING (FOCUSES ON PROMOTIONAL LOGO OR THEME ) (FOCUSES ON PROMOTIONAL LOGO OR THEME ) INFORMATIONAL LABELING (PROVIDES INFORMATION ) (PROVIDES INFORMATION )

SERVICE PROCESSING PEOPLE PROCESSING (SERVICE DIRECTED AT CUSTOMER) (SERVICE DIRECTED AT CUSTOMER) POSSESION PROCESSING (SERVICE DIRECTED AT SOMETHING THAT CUSTOMER OWNS) (SERVICE DIRECTED AT SOMETHING THAT CUSTOMER OWNS) INFORMATION PROCESSING (SERVICE THAT INVOLVES THE USE OF BRAINPOWER OR TECHNOLOGY) (SERVICE THAT INVOLVES THE USE OF BRAINPOWER OR TECHNOLOGY)

MARKETING CHANNELS (DISTRIBUTION CHANNELS) DIRECT MARKETING CHANNEL * MAIL ORDERS * MAIL ORDERS * INTERNET SALES * INTERNET SALES * DOOR-TO-DOOR SELLING * DOOR-TO-DOOR SELLING INDIRECT MARKETING CHANNEL * WHOLESALERS * WHOLESALERS MANUFACTURER-OWNED WHOLESALERS MANUFACTURER-OWNED WHOLESALERS MERCHANT WHOLESALERS MERCHANT WHOLESALERS * RETAILERS * RETAILERS STORE RETAILING STORE RETAILING NON-STORE RETAILING NON-STORE RETAILING * AGENTS * AGENTS * BROKERS * BROKERS

FUNCTIONS OF MARKETING INTERMEDIARIES PROVIDES ECONOMIES BY REDUCING CONTACTS CONDUCTING PROMOTIONS AND NEGOTIATIONS FINANCING THE MANUFACTURERS AND CUSTOMERS TAKING THE RISKS OF STOLEN AND LOST INFORMATION GATHERING

DISTRIBUTION INTENSITY INTENSIVE DISTRIBUTION AS MANY OUTLETS AS POSSIBLE SELECTIVE DISTRIBUTION LIMITED NUMBER OF INTERMEDIARIES EXCLUSIVE DISTRIBUTION EXCLUSIVE RIGHT TO SELL IN SPECIFIC TERRITORY

FACTORS AFFECTING DISTRIBUTION CHANNEL SELECTION MARKET FACTORS PRODUCT FACTORS PRODUCER FACTORS

PHYSICAL DISTRIBUTION CUSTOMER SERVICES *ORDER PROCESSING *ORDER PROCESSING WAREHOUSING SERVICES *INVENTORY CONTROL *INVENTORY CONTROL *MATERIALS HANDLING *MATERIALS HANDLINGTRANSPORTATION

SOME OBJECTIVES OF PROMOTION (MARKETING COMMUNICATION) PROVIDING INFORMATION INCREASING DEMAND DIFFERENTIATING THE PRODUCT OR SERVICE ENHANCING THE PRODUCT VALUE STABILIZING THE SALES

PROMOTION MIX (MARKETING COMMUNICATION MIX) PERSONAL SELLING SOURCES SALES FORCE RETAILERSWHOLESALERS NON-PERSONAL SELLING SOURCES ADVERTISING SALES PROMOTION PUBLIC RELATIONS

PROMOTIONAL STRATEGIES PULLING STRATEGY (COMMUNICATION DIRECTED TO ENDUSERS) PUSHING STRATEGY (COMMUNICATION IS DIRECTED TO INTERMEDIARIES)

PERSONAL SELLING ORDER PROCESSING CREATIVE SELLING MISSIONARY SELLING

PERSONAL SELLING PROCESS GENERATING SALES QUALIFYING SALES LEADS MAKING THE SALES APPROACH MAKING THE SALES PRESENTATION HANDLING THE OBJECTIVES CLOSING THE SALES FOLLOWING UP AFTER SALES

NON-PERSONAL SELLING ADVERTISING INFORMATIVE ADVERTISING REMINDER- ORIENTED ADVERTISING PERSUASIVE ADVERTISING SALES PROMOTIONS CONSUMER PROMOTION TRADE PROMOTION PUBLIC RELATIONS

FACTORS AFFECTING PRICES INTERNAL FACTORS MARKETING OBJECTIVES AND STRATEGY COST OF RAW MATERIALS AND SUPPLIES ORGANIZATIONAL CONSIDERATIONS EXTERNAL FACTORS DEMAND IN THE MARKET COMPETITORS’ PRICES ECONOMICAL CONDITIONS GOVERNMENTS

PRICING METHODS COST-BASED PRICING VALUE-BASED PRICING COMPETITION- BASED PRICING

PRICING STRATEGIES NEW PRODUCT / NEW MARKET PRICING STRATEGIES MARKET-SKIMMING PRICING MARKET-PENETRATION PRICING PARITY PRICING PRICE ADJUSTMENT STRATEGIES DISCOUNT AND ALLOWANCE PRICING SEGMENTED PRICING PROMOTIONAL PRICING GEOGRAPHICAL PRICING