cpas review 2013-2014 marketing chapter 1--marketing is all around us
TRANSCRIPT
CPAS REVIEW2013-2014
MARKETING
CHAPTER 1--MARKETING IS ALL AROUND US
Section 1.1Marketing and theMarketing Concept
Chapter 1marketing is all around us
Section 1.2The Importance ofMarketing
Section 1.3Fundamentals ofMarketing
Marketing and the Marketing Concept
Marketing Core FunctionsSe
ction
1.1
Marketing and the Marketing ConceptThe Scope of Marketing
Secti
on 1
.1Seven Marketing Core Functions
Marketing and the Marketing ConceptThe Marketing Concept
Secti
on 1
.1The Marketing Concept
Desires Needs
Determine Anticipate Satisfy
marketing concept
The idea that a business should strive to satisfy customers’ needs and wants while generating a profit for the business.
The Importance of MarketingSecti
on 1
.2
Economic Benefits of Marketing
utilityAn added value in economic terms; an attribute of goods or services that makes them capable of satisfying consumers’ wants and needs.
FormUtility
PlaceUtility
TimeUtility
PossessionUtility
InformationUtility
Changing raw materials into usable goods or putting parts together to make them more useful
Having a product where customers can buy it
Having a product or service available at a certain time of year or a convenient time of day
The exchange of a product for money
Communication with consumer
Fundamentals of MarketingSecti
on 1
.3
The term market refers to all the people who might buy a product. The marketing mix is a combination of elements used to sell a product to a specific target market.
Fundamentals of MarketingMarket and Market Identification
Secti
on 1
.3
consumer marketConsumers who purchase goods and services for personal use.
versusConsumer
MarketOrganizational
Market
organizational marketAlso known as business-to-business (B2B), this includes all businesses that buy products for use in their operations.
Fundamentals of MarketingMarketing Mix
Secti
on 1
.3
Four Ps of the
Marketing Mix
Product
Price
Place
Promotionmarketing mixThe four basic marketing strategiescalled the four P’s: product, place, price, and promotion.
Fundamentals of MarketingMarketing Mix
Secti
on 1
.3Forms of Promotion