1. Marketing In the true sense of the word, Marketing includes economic trends, forecasting, marketing research, product/service creation, market development, pricing, sales promotion, sales, advertising, product/service, public relations, distribution, order handling customer service strategic planning, etc.

2. Marketing, cont. Marketing, including sales, must be an essential part of the basic organizational structure, supported by finance, controlled by administration, and working closely with production for the income- development activities that produce stability.

3. “The goal of marketing is to create customer satisfaction profitably by building value- laden relationships with important customers. The marketing department cannot accomplish this goal by itself. It must team up closely with other departments in the company and partner with organizations throughout its entire value-delivery system to provide superior value to customers. Thus, marketing calls upon everyone in the organization to ‘think customer’ and to do all they can to help create and deliver superior value and satisfaction.” Philip Kotler and Gary Armstrong, 1999

4. Reasons to Study Marketing

5. Costs equal $0.50 on the dollar

6. Between 1/4 and 1/3 of civilian labor force engaged in marketing

7. Marketing activities support entire industries

8. All people are customers

9. Due to scarce resources marketing systems must operate at their peaks

10. Marketing has a strong impact on peoples beliefs and lifestyles

11. Marketing can improve the quality of life

12. Can be used in business and non- business applications

13. Marketing is Controversial

14. What leads companies to discover marketing?

15. Sales Decline

16. Slow Growth

17. Changing Buying Patterns

18. Increasing Competition

19. What is marketing’s higher purpose?

20. Maximize the market’s consumption Ex: 6 items for $10

21. Maximize Consumer Satisfaction

22. Maximize the Quality of Life

23. Maximize the Consumers Choice

24. Marketing Management Philosophies

25. Production Concept

26. Product Concept

27. Selling Concept

28. Marketing Concept

29. Societal Marketing Concept

30. Production and Product era 1860 1900 19201960 1980 2000 Four Different Orientations in the History of American Business Sales Era Market Concept Era Market Orientation Era

31. Utility – The Capacity of a Product to Satisfy

32. Form

33. Possession

34. Time Utility

35. Place Utility

36. Marketing Functions

37. Environmental Function

38. Consumer Analysis

39. Product Planning

40. Distribution Planning

41. Promotion Planning

42. Price Planning

43. Social Responsibility Ecological Concerns Pollution Pollution Planned Obsolescence Planned Obsolescence Health Concerns Preservation of Natural Resources DemarketingRecycling

44. Marketing Management

45. These functions can be shifted but not eliminated