This website uses cookies to ensure you have the best experience. Learn more

Introduction To Market Essay

2179 words - 9 pages

CHAPTER OBJECTIVES

1. Define what marketing is and discuss its core concepts.
2. Explain the relationships between customer value, satisfaction, and quality.
3. Define marketing management and understand how marketers manage demand and
build profitable customer relationships.
4. Compare the five marketing management philosophies.
5. Analyze the major challenges facing marketers headings into the next century.

CHAPTER OVERVIEW

Marketing is part of all of our lives and touches us in some way every day. To be successful each company that deals with customers on a daily basis must not only be customer-driven, but customer-obsessed. The best way to achieve this ...view middle of the document...

2. What is Marketing?
a. Creating customer value and satisfaction are at the very heart of modern
marketing thinking and practice.
b. A very simple definition of marketing is that it is the delivery of customer
satisfaction at a profit.
c. You already know a lot about marketing--it’s all around you.

Marketing Defined
d. Many people think of marketing only as selling and advertising.
1). Marketing is no longer “telling and selling.”
2). Marketing’s new sense is concerned with satisfying customer needs.
e. Marketing is defined as a social and managerial process by which individuals and
groups obtain what they need and want through creating and exchanging products
and value with others.

*****Use Key Term marketing Here; Use Chapter Objective #1 Here; Use Discussing
the Issues #1 Here; Use Figure 1-1 Here; Use Power Point 1-2, 1-3 Here*****

Needs, Wants, and Demands
c. Human needs are the most basic concept underlying marketing. A human need is
a state of felt deprivation.
1). Humans have many complex needs.
a). Basic, physical needs for food, clothing, warmth, and safety.
b). Social needs for belonging and affection.
c). Individual needs for knowledge and self-expression.
2). These needs are part of the basic human makeup.
d. Another concept in marketing is human wants. A human want is the form that a
human need takes as shaped by culture and individual personality.
e. Demands are human wants that are backed by buying power.
1). Consumers view products as bundles of benefits and choose products that give
them the best bundle for their money.
2). People demand products with the benefits that add up to the most satisfaction.
f. Outstanding marketing companies go to great lengths to learn about and
understand their customer’s needs, wants, and demands.
g. The outstanding company strives to stay close to the customer.

*****Use Key Terms needs, wants, and demands Here; Use Power Point 1-3, 1-4
Here*****

Products and Services
h. A product is anything that can be offered to a market to satisfy a need or want.
A service is an activity or benefit offered for sale that is essentially intangible and
does not result in the ownership of anything.
1). The concept of product is not limited to physical objects and can include
persons, places, organizations, activities, and ideas.
2). Be careful of paying attention to the product and not the benefit being satisfied.
3). “Marketing myopia” is caused by shortsightedness or losing sight of underlying
customer needs by only focusing on existing...

Other Papers Like Introduction to Market

Soy Protein Market in North America: Jsbmarketresearch

2698 words - 11 pages North America Soy Protein Market By Type, by Application, by Geography- Trends and Forecast up to 2019 Released On 16th December 2015 The North American soy protein market is estimated to grow at a Compound Annual Growth Rate (CAGR) of 4.9% from 2014 to 2019. Globally, North America is one of the most technically advanced regions. The market for soy protein is growing continuously in terms of revenues due to the increasing population and

Document Essay

332 words - 2 pages that your chosen business does to collect information about its marketplace. Introduction * Define market research (ref.) * Define Primary and secondary research with examples. * Qualitative and Quantitative - Market research methods can be qualitative or quantitative – explain this. Why is market research information important to Tesco in understanding the customers, competitors and the market environment in achieving the business

Global Dc Drives Market Share, Key Trends, Strategies, Technology, Analysis 2015-2019

590 words - 3 pages This report covers the present scenario and the growth prospects of the global DC drives market for the period 2015-2019. To calculate the market size, the report considers revenue generated from products and end-user industries. Technavio's report, Global DC Drives Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the

Digital X-ray Market by Application

707 words - 3 pages “The digital x-ray market is expected to reach USD 10.46 billion by 2020 from USD 6.15 billion in 2015, at a CAGR of 11.2%. The global digital x-ray market is segmented based on application, technology, portability, type of system, end-users, price, and regions. The general radiography segment is expected to register the highest growth rate in the digital x-ray market, by application, during the forecast period. The high growth in this segment

Global Architectural Led Products Market - Size, Trends, Share, Analysis to 2021

5792 words - 24 pages Global Architectural LED Products Market - Asia-Pacific market is expected to register the highest CAGR during the forecast period (2021) Persistence Market Research Global Architectural LED Products Market is Expected to Progress US$ 10,751.1 Mn by 2021 - Persistence Market Research Persistence Market Research 1 Global Architectural LED Products Market - Asia-Pacific market is expected to register the highest CAGR during the forecast

Global Architectural Led Products Market - Size, Trends, Share, Analysis to 2021

5792 words - 24 pages Global Architectural LED Products Market - Asia-Pacific market is expected to register the highest CAGR during the forecast period (2021) Persistence Market Research Global Architectural LED Products Market is Expected to Progress US$ 10,751.1 Mn by 2021 - Persistence Market Research Persistence Market Research 1 Global Architectural LED Products Market - Asia-Pacific market is expected to register the highest CAGR during the forecast

Polyvinyl Chloride Resin Market; By Grade

669 words - 3 pages “The global market for polyvinyl chloride resins is one of the markets with growing demand in the plastic and polymer industrial sector. It is currently on the rise and is valued at $XXm as of 2014. The global PVC resins market is estimated to grow at a CAGR of X% through the forecast period of 2015-2020 owing to the numerous advantages it offers over other polymer resins such as high durability, versatility, economic viability, chemical

Next Generation Sequencing Market 2012 - 2016

1192 words - 5 pages Global Next Generation Sequencing Market 2012 - 2016 TechNavio's analysts forecast the Global Next Generation Sequencing market to grow at a CAGR of 20.78 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased adoption of next generation sequencing by new customers. The Global Next Generation Sequencing market has also been witnessing an introduction of new DNA sequencing products and

Aarkstore.Com - Digital Pathology Market by Slide Scanners , Analytics , Delivery Modes & by Whole Slide Image Storage- Global Forecasts & Trends to 2018

2853 words - 12 pages 6.2.3 TRAINING AND EDUCATION 83 6.3 ANIMAL PATHOLOGY 84 6.3.1 PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES 86 6.3.2 ACADEMIC & GOVERNMENT RESEARCH INSTITUTES 87 6.3.3 CONTRACT RESEARCH ORGANIZATIONS 89 7 GLOBAL DIGITAL PATHOLOGY MARKET, BY GEOGRAPHY 91 7.1 INTRODUCTION 92 7.2 NORTH AMERICA 94 7.2.1 U.S. 97 7.2.1.1 Favorable reimbursement scenario for digital pathology in the U.S. to boost the market 97 7.2.2 CANADA 99 7.2.2.1 Embracing

Aarkstore - Prepacked Column Market by Type - Global Forecast to 2019

1666 words - 7 pages  Aarkstore - Prepacked Column Market by Type (1-100 mL, 100-1000 mL, >1L) - Global Forecast to 2019 Summary The global prepacked chromatography columns market is estimated to grow at a CAGR of 8.2% from 2014 to 2019. Rising demand of purification of antibodies, recombinant proteins, vaccines; and virus titer reduction are some of

Biosurgery Market by Type

1063 words - 5 pages : DEVELOPED VS. DEVELOPING MARKETS 33 5 MARKET OVERVIEW 34 5.1 INTRODUCTION 35 5.2 MARKET SEGMENTATION 35 5.2.1 BY PRODUCT 35 5.2.2 BY APPLICATION 36 5.2.3 BY REGION 36 5.3 MARKET DYNAMICS 37 5.3.1 MARKET DRIVERS 38 5.3.1.1 Rising number of surgeries 38 5.3.1.2 Increasing incidence of sports-related injuries and spinal problems 38 5.3.1.3 Rapid rise in aging population 39 5.3.2 MARKET RESTRAINTS 40 5.3.2.1 Little-to-no reimbursements

Related Essays

P1 Introduction To Market Research Unit 10

1005 words - 5 pages INTROUDCTION TO MARKET RESEARCH Market research can be referred to as the process of gathering information about a market, product or services or customers. Market research is a specific area of marketing that informs businesses like Kellogg’s about the things consumers need, how best to design products to answer those needs and how to advertise those products to consumers. Market research helps Kellogg’s to plan ahead, for example looking at

Introduction To Market Research: First Direct Case Study

2583 words - 11 pages Understand the main types of market research used to make marketing decisions In this report I will be discussing the different forms of market research and how these methods have been used to make marketing decisions for first direct. Carrying on from this I will be suggesting how different methods are appropriate to enable first direct to revitalise its brand relaunch and evaluating the businesses market research. Marketing is a management

Europe Oilfield Services Market By Type

932 words - 4 pages “In this report, the European oilfield services market has been segmented on the basis of type, application, and geography. Based on geography, the market has been segmented into major countries in the region, such as Russia, Norway, the U.K., and others. The market has been further segmented on the basis of type of oilfield services and application. The oilfield services market is estimated to grow at a CAGR of 5.7% from 2014 to 2019

Power Generation: Global Industry Guide Essay

691 words - 3 pages Power Generation: Global Industry Guide Introduction Global Power Generation industry guide provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The guide also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Features and benefits Save time carrying out entry-level research by