. THE WORLD OF MARKETING IMPORTANCE OF MARKETING THE SCOPE OF MARKETING COMPONY ORIENTATION TOWARDS THE MARKET PLACE FUNDAMENTAL MARKETING CONCEPTS, TRENDS AND TASKS.
Defining Marketing An organizational function and a set of processes for creating ,communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. Defining Marketing An organizational function and a set of processes for creating ,communicating, and ...view middle of the document...
Production Concept Product Concept Selling Concept Marketing Concept Consumers prefer products that are widely available and inexpensive Consumers favor products that offer the most .
Marketing Myopia Sellers pay more attention to the specific products they offer than to the benefits and experiences produced by the products. They focus on the “wants” and lose sight of the “needs”quality, performance, or innovative features Consumers will buy products only if the company aggressively promotes/sells these products Focuses on needs/ wants of target markets & delivering value better than competitors Company Orientations Towards the Marketplace.
Strategic Decision Areas Product Place Promotion Price Objectives Physical Chars. Prod. Class Service Features Benefits Quality Accessories Installation Instructions Warranty Product Line(s) Packaging Branding NPD? &/or Elimination? PLC Implics. Objectives Channel type Market Exposure Kinds of Intermediaries Kinds and locations of Outlets How to handle transporting and storing Service levels Recruiting Intermediaries Managing Channels Channel Co-op (Not Conflict) is Goal – Who Has Power? Objectives Initial Pricing -Penentration -Skimming -Combo P Flexibility P Sensitivity P Level over PLC Geographic terms Discounts Allowances Legal Implics. Factors Infl. Basic P Det. Objectives Promotion Mix Salespeople Kind Number Selection Training Motivation Evaluation Advertising Targets Kinds of ads Media type Copy thrust Prepared by whom Sales promotion PR Publicity.
Examples of Basic Channels of Distribution for Consumer Products Manufacturer or producer AOL Nissan Del Monte Procter & Gamble Retailer Consumer Wholesaler Retailer Retailer Wholesaler Wholesaler.
Controllable Promo. Elements of the Marketing Mix Personal Selling Advertising Public Relations Advertising Publicity Personal Selling Promotion Sales Promotion.
Price Elements of the Marketing Mix Price Flexibility Price Changes Over the Life Cycle Pricing Objectives Price Setting Price of Other Products In the Line Pricing Objectives Discounts and Allowances Geographic Pricing Terms Legal Environment Cost and Demand Competition and Substitutes Price Sensitivity Price Flexibility Price Changes Over the Life Cycle Discounts and Allowances Geog. Pricing Terms Legal Environ’t Cost and Demand Competition and Substitutes Price Sensitivity.
Customer Loyalty & Retention Customer Lifetime Value The entire stream of purchases that the customer would make over a lifetime of patronage. Share of Customer The share a company gets of the customers purchasing in their product categories. Customer Equity Customer equity is the total combined customer lifetime values of all the company’s customers.
Our mission is to provide safe, affordable access to high quality pharmaceutical products and services. As we do so, The Canadian Pharmacy endeavors to deliver exceptional customer service. We hope to form long...