Marketing is a group of Exchange is the act of

activities designed to
expedite transactions by
Definition giving up one thing (money,
credit, labor, goods) in om e
r’s
cu st
creating, distributing, & Exchange return for something else Valu
e is a
e a s s e s sm e
o
nt of
sts in
ctiv
pricing, and promoting Process (goods, services, or ideas). subje relative
ben
efits
g th e
to c
w o rt
h of
a

goods, services, and ideas in in o m er

rm t
d e te Cus efits
-
u c t. r ben
Functions includes many p ro d om e
u s t t s
e=c r cos
varied & interrelated valu om e
Marketing research is a systematic, objective cu st
activities: buying, selling,
process of getting information about potential
transporting, storing,
customers to guide marketing decisions. Buying
grading, financing,
behavior is the decision processes and actions
marketing research, and
of people who purchase and use products Marketing concept is
risk taking
the idea that an
organization should try
Concept,
Research,
Behavior &
Environment
Marketing Function &
Evolution
to satisfy customers’
needs through
coordinated activities

Relationship
that also allow it to
Buying Behavior: achieve its
Psychological Variables: Perception, Evolution goals.
Motivation, Learning, Attitude & Personality Production Orientation
Social Variables: Reference group, Social Sales Orientation
Classes & Culture Market orientation
Environmental Froces: an approach requiring organizations to gather info
political, legal, regulatory, social, competitive, about customer needs, share that information
economic & throughout the firm, and use that information to
technological help build long-term relationships with customers

Marketing Mix the four marketing activities—product,

price, promotion, and distribution— that the firm can
control to achieve specific goals within a dynamic
marketing environment
Strategy & Marketing strategy is a plan of action for creating a
marketing mix for a specific target market (a specific group
Marketing of consumers on whose needs and wants a company
Mix focuses its marketing efforts)

Target Market Strategies

Total-market approach an approach whereby a firm tries to appeal to everyone and assumes that all buyers have similar needs.
Market segmentation a strategy whereby a firm divides the total market into groups of people who have relatively similar product needs.
Concentration approach a market segmentation approach whereby a company develops one marketing strategy for a single market segment
Multisegment approach a market segmentation approach whereby the marketer aims its efforts at two or more segments, developing a
marketing strategy for each.

CHAPTER 11 - CUSTOMER-DRIVEN MARKETING (FHF)

Diva Tertia Almira - Batch 78 Class A (470320)
 Developing New Products Steps
Idea development
Screening
Business analysis
Product development
Test marketing
commercialization
Promotion Mix
Advertising (Paid communication
transmitted via mass medium)
Personal selling (direct
communication with buyers)
Publicity (communication
transmitted through the mass
media but not paid)
Sales promotion (direct offering
added value for buyers to
exchange)
CHAPTER 12 - MARKETING STRATEGY DIMENSION (FHF)
Product Life Cycle Identifying products Calculate the value of a Product Pricing objectives: survival, maximization of
includes branding (process 1. Identify target customer profits & sales, & maintaining the status quo
of naming & identifying 2. Identify best alternatives
products), packaging 3. Determine product's Pricing Strategies
(product’s container), & difference Pricing New Products
labeling (of info, such as 4. Calculate value based on its Price Skimming
content & warnings) differentiation Price Penetration
Psychological Pricing
Reference Pricing
Discounting
PRODUCT PRICE
MARKETING
MIX
PROMOTION DISTRIBUTION
Push strategy: motivate Objectives: stimulate Physical distribution is all Coverage Marketing Channels
intermediaries to push the demand; stabilize sales; the activities necessary to 1. Intensive
product down to their and inform, remind, & move products from 2. Selective
customers reinforce customers. producers to consumers, 3. Exclusive
Pull strategy: create including inventory
consumer demand for a planning and control,
product so that consumers transportation,
exert pressure on warehousing, and materials
marketing channel handling
members to make the
product available
Diva Tertia Almira - Batch 78 Class A (470320)