Chapter 14 Notes (on marketing)
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MGM Chapter 14 Outline
What is Marketing?
● Marketing is the process of planning, conceptualizing, pricing, promoting, and
distributing goods and services to meet organizational objectives.
● Green Marketing is marketing to promote eco-friendly products
The Evolution of Marketing:
The Production Era
● During early times up to 1900, production capabilities were limited relative to demand for
products. Therefore, the world focused on producing as much as possible.
The Sales Era
● 1920: Production capabilities began to overtake demand, so companies began to focus
their efforts on selling their products.
The Marketing Concept Era
● After WWII, there was a boom in population and consumer spending. Competition for
the consumer’s dollar was fierce. Marketing concept was born.
● Marketing concept consisted of 3 mindsets: customer orientation (satisfying
consumers), service orientation (ensuring individuals in organization had same
objective), and profit orientation (focus on making profit)
The Customer Relationship Era
● 1990’s: Companies focused on customer relationship management (CRM), which is the
process of learning about customers and finding ways to satisfy them.
Non-Profit Organizations Prosper from Marketing
● Self explanatory. Examples include red cross and churches.
The Marketing Mix
● 4P’s of Marketing: Product, Price, Place, and Promotion
Applying the Marketing Process
● Process: Find --> Conduct Research --> Identify Target Market --> Design Product
based on Research --> Product Testing --> Determine Brand Name --> Package Design
--> Set Price --> Select Distribution System --> Set Promotional Program --> Build
Designing a Product to Meet Needs
● A Product is a good or service that satisfies a customer’s wants and needs
● Process of testing products among potential users is called test marketing.
● A brand name and logo has to be designed
Setting an Appropriate Price
● Self Explanatory
Getting the Product to the Right Place
● Getting the product to consumers when and where they want it is critical to market
Developing an Effective Promotional Strategy
● Promotion consists of techniques sellers use to get people to buy their products
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