MARKETIN

G /TOPI

C

4

IBBM Unit 4.1

What is Marketing?

The 7 P’s

MARKETING:The connecting link, or bridge,

between the producer and the consumer.

Producer Consumer

The process of planning the product, executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy consumer wants and needs.

Planning PricingPlace

(Distribution)

Promotion

Process Physical Evidence

People

MARKETING IS:

THE 7 P’S:MARKETING is a

PROCESS and involves the 7 P’s:

PLANNING the Product

PRICING

PLACE (Distribution)

PROMOTION

Plus PHYSICAL EVIDENCE

PROCESS

PEOPLE (The Target Market)

Planning Product Pricing Place Promoti

onPhysical Evidenc

ePeopleProcess

MARKETING IS ALL AROUND US~S A L E S R E P R E S E N T A T I V E S

T E L E M A R K E T E R S

D I R E C T / J U N K M A I L

V I D E O S , B R O C H U R E S

P R O D U C T P L A C E M E N T

N E T W O R K I N G

S O C I A L M E D I A

S I G N S

D I S P L A Y S

I N T E R N E T B A N N E R S

>Decisions a business must make.

>Depends on Target Market being clearly defined.___________________________

1)Product Planning- 1)Make a decision about the product.

2)Produce the Product.

2)Pricing- 1) To Sell (value)

2) To Make a Profit.

3) To be Competitive

3)Place (Distribution)- 1) Packaging

Also called Channel Mgmt. 2) Storage

3) Shipping

4) Receiving (Inventory)

(Con’t)

THE 7 P’S =THE MARKETING MIX

7 P’S/THE MARKETING MIX (CON’T)4)Promotion- 1) Advertising

2) Publicity

3) Public Relations

4) Displays

5) Physical Evidence- 1) Demonstrations

2) Reviews 3) Endorsements

6) Process- How services are consumed and paid for.

7)People- 1) Consumers

2) Customers_______________________________________________

What is the difference between a Consumer and a Customer?

WHAT IS MARKETED?

Durable Goods>Desks>Computers>4G phones

Places“Get Out There” (RCCL)

“Ski Washington.com”

“Go Hawaiian”

Organizations>WEA>NCAA>NFL

>The Red Cross

Ideas>”Litter and It Will Hurt”> “Buzzed Driving Is Drunk Driving

Nondurable Goods>Yogurt>Gasoline>Cosmetics

Services>Airline Travel>Banking>Wedding Planners

People>Athletes>Musicians>Ourselves

Goods:

The kinds of things that you can touch or hold in your hand;

TANGIBLES

Services:

The kinds of things that you can’t physically touch;

INTANGIBLES

PRODUCTS~INCLUDES IDEAS, GOODS, AND SERVICES, WHICH HAVE MONETARY VALUE AND SATISFY CUSTOMERS’ NEEDS AND WANTS.

EXCHANGES=VOLUNTARY PURCHASES(EXCHANGES TAKE PLACE EVERY DAY!)

THE E

ND