1. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 1 The Art and Science of Marketing

2. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 2 Marketing in a Changing World Planning New ProductExecution PricingDistributionAdvertising

3. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 3 What is Marketing? IndividualObjectivesOrganizationalObjectives ConceptionPricingPromotionDistribution IdeasServicesGoods

4. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 4 Core Marketing Concepts Goods and Services Value, Quality and Satisfaction Exchange, Transaction and Relationships Needs, Wants, and Demands Markets

5. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 5 Types of Marketing Product Marketing Place Marketing Cause-Related Marketing Exchanges Transactions NeedsWants

6. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 6 The Role of Marketing Needs and Wants Exchange Process Transactions

7. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 7 TimeForm PlacePossession The Four Utilities

8. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 8 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

9. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 9 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

10. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 10 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

11. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 11 Understanding Today’s Customers Sophisticated Price Sensitive Demanding Informed

12. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 12 Understanding Today’s Customers Organizational Market Consumer Market Industry/CommerceIndustry/CommerceResellersResellers GovernmentGovernmentIndividualsIndividualsFamiliesFamilies HouseholdsHouseholds

13. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 13 The Consumer Decision Process Need Recognition Need Recognition Information Search Information Search Evaluation of Alternatives Evaluation of Alternatives Purchase Postpurchase Evaluation Postpurchase Evaluation

14. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 14 Factors That Influence the Buyer’s Decision Culture Social Class Reference Groups Self-Image Situational Factors

15. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 15 Purchasing in Organizations Decision-Making Factors Economics and Logic Formal Buying Procedures Multi-PartyParticipationBuyer-SellerRelationship

16. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 16 Marketing Research ObservationsObservationsSurveysSurveysInterviewsInterviews Focus Groups Process Data Collection CollectionExperimentsExperiments

17. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 17 Database Marketing Recording Analyzing Transacting Contacting Customers BehaviorsPreferencesInteractions

18. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 18 Planning Marketing Strategies Examine Current Marketing Situation 1 1 Assess Opportunities and Set Objectives 2 2 Develop Marketing Strategies 3 3

19. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 19 Examine the Current Marketing Situation ReviewPerformance Examine Strengths and Weaknesses EvaluateCompetition Analyze External Environment

20. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 20 Assess Opportunities and Set Objectives Market Penetration GeographicExpansion New-ProductDevelopment Diversification

21. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 21 Develop the Marketing Strategy Segments and Niches Market Position Target Markets Marketing Mix

22. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 22 Segmenting Markets Behavior Geodemographics Loyalty Usage Geographics Demographics Psychographics

23. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 23 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

24. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 24 Positioning the Product FeaturesFeaturesImageImageServicesServicesCategoryLeadershipCategoryLeadership

25. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 25 Developing the Marketing Mix Social Responsibility Business Ethics PromotionPlace PriceProductCompetitionEconomicsNature PoliticsRegulationTechnology Society Target Market