marketing concept

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Marketing concept

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Slide 1:

Marketing Concept

Slide 2:

Marketing Concept In order to participate in the world of marketing, you'll want to understand how businesses focus on the needs and wants of their customers in order to improve their products, remain competitive, and increase sales.

Slide 3:

Marketing Concept The marketing concept states that businesses must satisfy customers' needs and wants in order to make a profit.

Slide 4:

Marketing Concept Customers buy a product. Consumers use the product. Example: Parents who buy video games from retailers are customers. The kids who play the video games are the consumers.

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Marketing Concept A market is all potential customers who share common needs and wants and who have the ability and willingness to buy the product.

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Marketing Concept The marketing mix comprises four basic marketing strategies known as the four Ps: Product Place Price Promotion

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Marketing Concept Product strategies include what product to make, how to package it, what brand name to use, and what image to project.

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Marketing Concept Place strategies deal with how and where a product will be distributed.

Slide 9:

Marketing Concept Price strategies should reflect what customers are willing and able to pay.

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Marketing Concept Promotion strategies deal with how potential customers will be told about the new product, what the message will be, when and where it will be delivered, and with what inducements to buy.

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Marketing Concept Target marketing is focusing all marketing mix decisions on the specific group of people you want to reach.

Slide 12:

Marketing Concept The Marketing Concept Consumers Marketing Research Marketing Segmentation Product Price Place Promotion