REWARDS OF MARKETING
presented by robert casciodoctoral candidate, department of marketing, university of central florida
what is marketing?
American Marketing Association definition:
“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
what do people in marketing do?
•segment
•target
•position
segment
identifying deliberate, specific groups of individuals with one or more common characteristics.
target
prepare and deliver specific messages aimed at these deliberate, specific groups of individuals.
position
strategically determine how the product or service is perceived in the minds of the customers.
segment, target, position
how do we do this?
4P’s of marketing
product price
promotion place
product
the tangible good or the intangible service we want consumers to purchase
a collection or bundle of benefits being offered
can include an actual item and the customer service or guarantee that comes with it
what the consumer perceives is most important – this means how it is positioned
price
cost of the item payment terms – immediate or
delayed method of payment – cash, bank
card, paypal, personal check, invoice, online payment what is most important is the value
perceived by the customer – price can influence this value.
place
how can the product be acquired exclusive distribution or non-exclusive
distribution retail store internet only in certain countries or cities
what is most important is the consumer’s perception from the choices that marketers make with regard to place.
promotion
how do we tell consumers about our product or service
what specifically do we tell them? where do we tell them this? who or what tells them this
information? how often do we tell them? why do we tell them?.
promotion mix
advertising publicity public relations personal selling direct marketing.
summary: 4P’s of marketing
product price
promotion place
why people choose marketing? – 4F’s
financial
freedom
flexibility fun
financial
anyone interested in a good income?
paid according to performance, particularly in sales
many top corporate executives are from marketing backgrounds.
freedom
limited desk and office time
excellent career opportunities positions are self-
funded marketers are
revenue creators
sales is recession proof.
flexibility
• marketing encompasses many functions:– product development– pricing strategies– distribution methods– promotion• personal selling,
advertising, public relations
– non-profit sector– services sector– e-business.
fun
creative consumer behavior advertising design learn about
multiple business types
fun marketing examples
product advertising international advertising consumer promotion consumer usage public responsibility
summary: why choose marketing?
financial
freedom
flexibility fun
summary: 4P’s of marketing
product price
promotion place
thank you
is a marketing career best for you?
www.robertcascio.com – more information about research and opportunities in marketing
[email protected] – my email for comments or questions