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Chapter 1 Objectives 1. Know what marketing is and why you should learn about it. 2. Understand the difference between micro-marketing and macro-marketing. 3. Know why and how macro- marketing systems develop. 4. Understand why marketing is crucial to economic development and our global economy. 5. Know why marketing specialists—including middlemen and facilitators— develop. 6. Know the marketing functions and who performs them. 7. Understand the important new terms. Marketing Defined Implications of the Definition of Micro-Marketing Applies to profit and nonprofit organizations. NOT just persuading customers to buy. Begins with customer needs and focuses on customer satisfaction. Marketing activities --but it is a philosophy that guides the whole business. Seeks to builds a relationship with the customer. Marketing Is Important! Marketing impacts all of us in our lives as consumers Gives us choices Stimulates innovation and economic growth There are many good job opportunities in marketing Regardless of what career path you take, no firm (or non-profit organization) survives for long if it can’t satisfy some group of customers. Utility and Marketing Exchange and Marketing Exchange and Marketing Exchange and Marketing Marketing in Economic Development Marketing Facilitates Production and Consumption Model of Market-DirectedMacro-Marketing System Key Terms For use only with Perreault and McCarthy texts. ? The McGraw-Hill Companies, Inc., 1999 Irwin/McGraw-Hill For use only with Perreault and McCarthy texts. ? The McGraw-Hill Companies, Inc., 1999 Irwin/McGraw-Hill * Basic Marketing A Global-Managerial Approach William D. Perreault, Jr. E. Jerome McCarthy Basic Marketing A Global-Managerial Approach William D. Perreault, Jr. E. Jerome McCarthy Chapter 1: Marketing’s Role in the Global Economy When you finish this chapter, you should 1-2 Micro-marketing The performance of activities that seek to accomplish an organization’s objectives by anticipating cu
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