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
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
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
Identify a target market
Design a pro