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Marketing BasicsWhat is Marketing?
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The process of developing, promoting, and distributing products and services, to satisfy customers needs and wants.
What is Marketing?
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Goods & Services
Goods Services
Tangible products What are some
examples?
Intangible products What are some
examples?
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Companies survive and prosper through meeting the needs and wants of customers.
Customer satisfaction is the main focus
The Marketing Concept
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Market◦ Potential customers with same needs◦ Customers who have desire & ability to buy
product Target Market
◦ Specific group of consumers that an organization selects as the focus of its marketing plan
◦ Demographics: age, sex, income, education level
Who are Your Customers?
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Marketing Mix
The Four Ps
Product
Price
Place
Promotion
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What will we sell?Designing Naming Packaging
Product
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How much should we charge?CostsCompetitionDemand
Price
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Where should we sell our product?Distribution Logistics
Place
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How do we communicate our product to our target market?AdvertisingPersonal SellingSales PromotionsPublicity
Promotion
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The marketing mix must all focus around meeting the
customers needs
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Lets practice…