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Chapter 14 Marketing.doc

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COMM 100
David Crawford

Chapter 14 Marketing: Building Customer and Stakeholder Relationships What Is Marketing? “Marketing is the process of planning and executing the conception, pricing, promotion and distribution of goods and services to facilitate exchanges that satisfy individual and organizational objectives.” Evolution of Marketing  Production Era: Up to early 1900s  Selling Era: 1920s-1950s  Marketing Concept Era: 1950s-1990s  Customer Relationship Management Era: 1990s+ Elements in the Marketing Mix: The 4 Ps 1. Product: any physical good, service, or idea that satisfies a want or need. plus anything that would enhance the product in the eyes of consumers, such as the brand. 2. Price: The money or other consideration exchanged for the ownership or use of a good or service. 3. Place: Channel type, Intermediaries, Market coverage, Transport mode 4. Promotion:All of the techniques sellers use to motivate customers to buy their products. What are the three parts of the marketing concept? 1. a customer orientation 2. a service orientation 3. a profit orientation Applying the Marketing Process  Find a need  Conduct research  Identify a target market  Design a pro
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