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Marketing's Value To Consumers, Firms, and Society
Marketing's Value To Consumers, Firms, and Society
CHAPTER ONE
For use only with Perreault/Cannon/McCarthy or Perreault/McCarthy texts. 2008 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin
www.mhhe.com/fourps
1.
2.
3.
4.
Know what marketing is and why you should learn about it. Understand the difference between marketing and macro-marketing. Know the marketing functions and why marketing specialistsincluding middlemen intermediaries and marketing collaborators develop to perform them. Understand what a market-driven economy is and how it adjusts the macro-marketing system.
5. 6. 7.
Know what the marketing concept isand how it should guide a firm or nonprofit organization. Understand what customer value is and why it is important to customer satisfaction. Know how social responsibility and marketing ethics relate to the marketing concept.
Predict Wants
Estimate Demand Predict When Determine Where Estimate Price
Decide Promotion
Estimate Competition Provide Service
Production
Making Goods
Performing Services
What Is Marketing?
Micro View
Set of activities
Performed by individual organizations and
Macro View
Social process
Matches supply with demand
Marketing
Key Characteristics
Builds Relationships
Involves Exchanges
Doesnt Go It Alone
Macro-Marketing
Key Characteristics
Cost $ Output Marketing Bridges the Gap! Producers Marketing Functions Consumers
Selling
Transporting
Marketing Functions
Storing Standardization & Grading
Financing
Producers
Wholesalers
Other Specialists
Retailers Ad Agencies
Research Firms
Consumers
Government officials decide May work well if: Simple economy Little Variety Adverse Conditions
Adjusts itself
OR
Production Era
Customer Satisfaction
Profit
Costs
Benefits
Offer Superior Customer Value Total Company Effort to Satisfy Customers Attract New Customers
Satisfy Customers
The Marketing Concept Applies in Nonprofit Organizations Support and Satisfied Customers Characteristics of Nonprofit Organizations
Newcomers to Marketing
Government Marketing
Group Needs
Individual Needs
Social Responsibility
You now
1.
2.
3.
4.
Know what marketing is and why you should learn about it. Understand the difference between marketing and macro-marketing. Know the marketing functions and why marketing specialistsincluding middlemen intermediaries and marketing collaborators develop to perform them. Understand what a market-driven economy is and how it adjusts the macro-marketing system.
You now
5. 6. 7.
Know what the marketing concept isand how it should guide a firm or nonprofit organization. Understand what customer value is and why it is important to customer satisfaction. Know how social responsibility and marketing ethics relate to the marketing concept.
Key Terms
Production Customer satisfaction Innovation Marketing Pure subsistence economy Macro-marketing Economies of scale Universal functions of marketing
Key Terms
Marketing company era Marketing concept Production orientation Marketing orientation Customer value Micro-macro dilemma Social responsibility Marketing ethics