Professional Documents
Culture Documents
Chapter 1
Chapter 1
overview of marketing
LEARNING OBJECTIVES
LO 1-1 Define the role of marketing in
organizations.
LO 1-2 Describe how marketers create
value for a product or service.
LO 1-3 Understand why marketing is
important, both within and
outside the firm.
1-2
What is Marketing?
Marketing
Marketingisisan
anorganizational
organizationalfunction
functionand
andaa
set
setof
ofprocesses
processesfor
forcreating,
creating,capturing,
capturing,
communicating,
communicating,and
anddelivering
delivering value
valueto
to
customers
customersand
andfor
formanaging
managingcustomer
customer
relationships
relationshipsin
inways
waysthat
thatbenefit
benefitthe
the
organization
organizationand
andits
itsstakeholders.
stakeholders.
1-3
What is Marketing?
Marketing helps create
value.
Marketing is about
satisfying customer
needs and wants.
Marketing occurs in
many settings.
Marketin
g
Marketing can be
performed by both
individuals and
organizations.
Marketing entails an
exchange.
Marketing requires
product, price, place,
and promotion decisions.
1-4
PRNewsFoto/PepsiCo; AP Photo.
1-5
Marketing Entails an
Exchange
1-6
Price
Creating value
Capturing value
Digital Vision Ltd.
PRNewsFoto/PepsiCo;
AP Photo.
Communication
value
Promotion
Stockbyte/PunchStock.
Delivering value
Place
BrandX/JupiterImages/Getty Images.
1-7
Goods
Royalty-Free/Corbis
Servic
es
Flying Colours Ltd./Getty Images
Ideas
Roz Wodward/Getty Images
1-8
1-9
1-10
1-11
Promotion:
Communicating Value
Promotion is
communication by a
marketer that
informs,
persuades, and
reminds potential
buyers about a
product or service to
influence their
opinions or elicit a
response.
1-12
Retailer
(Sells PCs &
monitors)
Consumer B
B2C
B2B
Manufacturer
(Makes monitors)
C2C
Consumer A
ETSY Website
1-13
Society
Customers
Employees
Supply
Chain
1-14
1.
Sales
2.
3.
Marketing
4.
5.
Value-Based Marketing
1-16
1.What is the definition of marketing?
2.Marketing is about satisfying _________
and _________ .
3.What are the four components of the
marketing mix?
4.Who can perform marketing?
5.What are the various eras of
marketing?
1-17
1-18
1-19
1-20
1.Does providing a good value
mean selling at a low price?
2.What are the benefits of longterm relationships with
customers?
3.How are marketers connecting
with customers using social and
mobile media?
1-21
Roy McMahon/Corbis
Edward Rozzo/Corbis
BananaStock/JupiterImages
Why Is Marketing
Important?
1-22
1.List five functions that illustrate
the importance of marketing.
2.A firm doing the right thing
emphasizes the importance of
marketing to _________.
1-23