Chapter Objectives.ppt

CHAPTER 1 Marketing: The Art Science of Satisfying Customers Chapter Objectives Marketing: The Art and Science  of Satisfying Customers CHAPTER 1 1 2 3 4 5 6 7 8 9 Define marketing, explain how it creates utility, and describe its role in the marketplace. Contrast marketing activities during the four eras in the history of marketing. Explain the importance of avoiding marketing myopia. Describe the characteristics of not-for-profit marketing. Identify and briefly explain each of the three types of nontraditional marketing. Outline the importance of creativity, critical thinking, and the technology revolution in marketing. Explain the shift from transaction-based marketing to relationship marketing. Identify the universal functions of marketing. Demonstrate the relationship between ethical business practices, social responsibility, and marketplace success. WHAT IS MARKETING? ??Production and marketing together create utility. ??Utility The want-satisfying power of a good or service. A DEFINITION OF MARKETING ??Marketing Companywide consumer orientation with the objective of achieving long-run success. ??Analyzing customer needs. ??Obtaining the information necessary for design and production that match buyer expectations. ??Satisfying customer preferences. ??Creating and maintaining relationships with customers and suppliers. TODAY’S GLOBAL MARKETPLACE ? Growing importance because of international agreements, growth of electronic business, and economic interdependence. ??United States’ size and affluence make it an attractive market for foreign companies. FOUR ERAS IN THE HISTORY OF MARKETING ??Exchange process Activity in which two or more parties give something of value to each other to satisfy perceived need. Production Era Sales Era Marketing Era Relationship Era Emergence of the Marketing Concept ??Consumer orientation Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system