1 st Chapter Marketing Marketing is all around us!

Process of developing, promoting & distributing products----MARKETING Marketing products are goods or services ( x- box, geek squad) A company must satisfy a consumer wants & needs, while earning a profit marketing concept

CHAPTER 1 A strong long term relationship exists when the customer relationship management identifies & understands consumers.

Exchange- every time legal ownership of a product changes hands Product, Place, Price, Promotion– 4 P’s of marketing mix. Time utility---store open 24/7 Instructions, directions--- information utility

UTILITY Store accepts credit cards to increase sales- possession utility Place utility- a service/ gas station located on the highway Form utility- assembling parts to build an engine by adding value--- increase gas mileage.

All people with similar wants & needs that can purchase your product------MARKET Target Market- the group for which marketing program is designed. A retail sales employee puts shoes on a consumer & asks how they feel---selling.

UTILITY Wal-Mart marks down swimsuits in august—selling. A consumer is asked in a store to answer questions about the next political election- marketing information management.

A T.V. commercial says AT&T phone is better than Verizon--- PROMOTION A company does away with a product that does not sell well– product service management..

UTILITY A company applies for a bank loan– financing A company hires FedEx- to distribute all products to consumers- distribution

Add aloe to hand soap—form utility.. Including a link on a web-page to download or upgrade products– information utility. Offering 24/7 consumer service—time utility. A company web site offering sale of products directly to consumers- PLACE UTILITY

UTILITY offering a 10% discount for credit card applications- possession utility