1. Chapter 2: Basic Marketing Concepts
Section 2.1
The Marketing Concept
Chapter 2: Basic Marketing Concepts

2. What You’ll Learn The marketing concept
The difference between customers and consumers
What a market is and how it can be described
What target marketing is
The Four P’s of the marketing mix

3. Exercise
Name 5 products targeted to people your age, children, and people over 50.

4. The Basic Concept Customers vs. Consumers
How so businesses become successful?
The plan for it by following an idea called the marketing concept.
Which states businesses must satisfy customers’ needs and wants in order to make a profit.
Customers vs. Consumers
Customers – buy the product
Consumers – people who actually use the product

5. Basic Concepts Continue…
What is a Market?
All potential customers who share common needs and wants, and who have the ability and willingness to buy the product.
Target Marketing – focusing all marketing decisions on a very specific group of people who you want to reach.
Customer Profile – information about the target market with regard to the age, income, level, ethnic background, occupation, attitudes, lifestyles, or geographic residence of the targeted customer
Marketing Mix
Comprises four basic marketing strategies, collectively known as the Four Ps—product, place, price, and promotion