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McGraw-Hill/Irwin
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Decide Promotion
Estimate Competition Provide Service
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Marketing
Makes sure right goods & services are produced
Production
Making Goods Performing Services
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Courtesy of The Procter & Gamble Company.
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What Is Marketing?
Micro View
Set of activities Performed by individual organizations
Macro View
and
Social process Matches supply with demand
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Marketing
Profit and Nonprofit More than Persuasion
Builds Relationships
Key Characteristics
Involves Exchanges
Doesnt Go It Alone
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Macro-Marketing
Emphasis is on Whole System Every Economy Needs It Key Characteristics
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Discrepancies of Quantity
Discrepancies of Assortment
Separation of Information
Separation in Values
Separation of Ownership
Consumption Sector
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Selling
Transporting
Marketing Functions
Storing Standardization & Grading
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Financing
Producers
Wholesalers
Other Specialists
Retailers
Ad Agencies
Research Firms
Consumers
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Government officials decide May work well if: Simple economy Little Variety Adverse Conditions
Adjusts itself
OR
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Intermediaries
Collaborators
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Production Era
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B.
C. D.
E.
Product orientation
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Costs
Benefits
Where Does Competition Fit? Customer Value Builds Relationships
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Low
High
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Attract Customers
Retain Customers
Satisfy Customers
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Government Marketing
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Social Responsibility
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Social Responsibility
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Key Terms
Production Customer satisfaction Buying function Selling function
Innovation
Marketing Pure subsistence economy
Transporting function
Storing function Standardization and grading
Macro-marketing
Economies of scale Universal functions of marketing
Financing
Risk-taking Market information function
Intermediary
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Key Terms
Collaborators E-commerce Economic system Command economy Market-directed economy Simple trade era Production era Sales era Marketing department era Marketing company era Marketing concept Production orientation Marketing orientation Customer value Micro-macro dilemma Social responsibility Marketing ethics
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