Marketing BasicsWhat is Marketing?

The process of developing, promoting, and distributing products and services, to satisfy customers needs and wants.

What is Marketing?

Goods & Services

Goods Services

Tangible products What are some

examples?

Intangible products What are some

examples?

Companies survive and prosper through meeting the needs and wants of customers.

Customer satisfaction is the main focus

The Marketing Concept

Market◦ Potential customers with same needs◦ Customers who have desire & ability to buy

product Target Market

◦ Specific group of consumers that an organization selects as the focus of its marketing plan

◦ Demographics: age, sex, income, education level

Who are Your Customers?

Marketing Mix

The Four Ps

Product

Price

Place

Promotion

What will we sell?Designing Naming Packaging

Product

How much should we charge?CostsCompetitionDemand

Price

Where should we sell our product?Distribution Logistics

Place

How do we communicate our product to our target market?AdvertisingPersonal SellingSales PromotionsPublicity

Promotion

The marketing mix must all focus around meeting the

customers needs

Lets practice…