Marketing Concept
Marketing is a
strategic approach to supply a good or service
Marketing generates
competition
One of the fundamental of marketing is
Market Identification
Before we make a marketing plan we need to conduct a situational analysis or a ________________.
SWOT Analysis
A further broken down group of target individuals
Marketing Segmentation.
More specifically, marketing is the process of planning and executing
price, product, place, promotion
Marketing is important because of
innovation
A consumer market consists of
consumers who purchase good and services
SWOT stands for
Strengthen
Weakness
Opportunities
Threat
Catering to income levels is a type of
market segmentation
Marketing Plan
4 P's
Marketing increases consumer awareness and this word
demand
Consumer Market consist is synonymous with
Market Share
SWOT is divided into two sub divisions:
internal and external
catering to a certain type of gender
marketing segmentation
what are the seven marketing core functions
Channel Management: To deliver good or services to customers.
Marketing Information management: Researching consumers tendencies, wants, and needs. Researching competitors.
Market Planning: Finding involves understanding how to target specific consumers. Taking research and creating a method on how to target certain type of consumers.
Pricing: Selecting the perfect price to sell a good or service.
Product service management: Updating the product or service through customer feedback.
Promotion: Letting customers know of your good or service through advertisements.
Selling: Selling good and services consumers want!
Marketing is important because of
lower prices
In marketing a pie is similar to
Market Share
Marketing Mix is a ____________________
marketing plan
1960s to the early 1980
Generation X
What is the marketing concept, you must?
-You must identify consumer’s needs and wants
-You must seek to satisfy consumers needs and wants.
-You must still make a profit
Marketing is important because of these five economic utility.
Form Utility: Taking raw material and transforming it into useful goods or services.
Place Utility: Having a product where customers can buy it.
Time Utility: Having s product or service available at a certain time of year.
Possession Utility: The exchange of a product for money is possession utility.
Information Utility: Involves communication with the consumer.
A group that is identified for specific marketing program
Targeted Market
Marketing mix is synonymous with
4 p's of marketing.
the generation after generation Y
Generation X