1. MARKETINGGOLDENChapter #1

4. MARKETING ►The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.

5. MARKETINGGOLDENChapter #1 MS = TM + MM Marketing Strategy

6. MARKETINGGOLDENChapter #1 TARGET MARKET  A specific group of customers on whom an organization focuses its marketing efforts

7. MARKETINGGOLDENChapter #1

8. MARKETING MIX- The 4 P’s!  Product: Good, service, or idea.  Place/Distribution: Products must be available at the right time, in the right quantities, and in convenient locations.  Promotion: Communication- inform and persuade individuals about an organization and its products.  Price: Establish pricing objectives, policies, and prices.

9. MARKETINGGOLDENChapter #1 THE MARKETING CONCEPT A philosophy or a way to conduct business Satisfy customer needs Affects all aspects of an organization Allows organization to achieve its own goals Marketing Orientation

10. MARKETINGGOLDENChapter #1 RELATIONSHIP MARKETING Establishing long-term, mutually satisfying buyer-seller relationships

11. MARKETINGGOLDENChapter #1 VALUE-DRIVEN MARKETING Value: Customers subjective assessment of benefits relative to costs in determining the worth of a product Value = Customer Benefits – Customer Costs