what is marketing? part 1. what is the first thing that comes to your mind when you hear the...
TRANSCRIPT
What is Marketing?
Part 1
What is the first thing that comes to your mind when you hear the word.......?
“MARKETING”
Do you know the major difference between a GOOD and a SERVICE?
Goods can be touched and held....tangible Services can not be touched.....intangible
INDUSTRIAL GOODS – Products used in business to make other products or to assist in business operations
3 types:1. Raw materials – are usually marketed
to businesses that process them or use them in manufacturing Ex. Farming – the farmer markets his tomatoes to a ketchup maker
2. Processed Goods – alters the nature of the good (pressing apples into juice), but may need to go through other steps to become a finished good-are sold as finished goods or semi-finished goods
3. Finished Goods – are products that no longer require processing but may be used to make another product. Ex To make a car an automaker needs fan belts, windshields, etc
CONSUMER GOODS
Intended for personal use by the general public
-retail stores sell consumer goods
INDUSTRIAL/CONSUMER SERVICES-services are activities performed for others Industrial service would be the piano tuner who tunes the piano
for the symphony Consumer service would be the piano tuner who tunes the
piano in someone’s home Major difference between them: Who is paying for the
service?