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Chapter 0. Introduction to Marketing Management. Market & Product. A market is the set of actual and potential buyers of a product. These buyers share a particular need or want that can be satisfied through exchange relationships.

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market product
Market & Product
  • A market is the set of actual and potential buyers of a product. These buyers share a particular need or want that can be satisfied through exchange relationships.
  • Product (Marketing Offer): physical product, service, information, experience, person, place, organization, and ideas.
definition of marketing
Definition of Marketing
  • Marketing is the process of planning and executing the conceptions, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. (AMA)
  • Marketing is meeting needs profitably.
focus of marketing
Focus of Marketing
  • Consumer behavior
    • External
    • Internal
  • Marketing strategies
    • Product, price, place, and promotion
external consumer behavior
External Consumer Behavior
  • Shoppers often zip through the snack aisle, spending only 42.7 seconds there, whereas they spend more than twice that in the coffee aisle.
  • Only 34% of shoppers who don’t have baskets actually purchase something, while 75% of shoppers with baskets buy some items.
  • A woman who shops with another woman spends twice as much time in the store than if she shops with a man.
internal consumer behavior
Internal Consumer Behavior
  • Cognition and Affect
  • Examples: Country-of-origin effect, framing effect, and prospect theory.
question 1
Question 1


  • 方案a:200人確定可以獲救。
  • 方案b:1/3機率600人可獲救,2/3的機率無人可獲救。
question 2
Question 2


  • 方案1:400人確定會死亡。
  • 方案2:1/3的機率無人死亡,2/3的機率600人均死亡。
prospect theory
展望理論(Prospect Theory)
  • 人在面對「利得」時,常是風險趨避的。
  • 人在面對「損失」時,常是風險愛好的。
  • Example: 散戶的心態。
s tp concept
STP concept
  • Market segmentation: dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mix.
  • Steps for market segmentation
    • Identify bases (ex. geographic, demographic, psychographic, and behavior) of segmenting
    • Develop profiles of resulting segments
  • Market segment: a group of consumers who respond in a similar way to a given set of marketing efforts.
s t p concept
STP concept
  • Target marketing: the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.
  • Steps for target marketing
    • Evaluate the attractiveness of each segment
    • Select the target segments
  • A company with limited resources might decide to serve only one or a few special segments or “market niches”.
    • E.g. Arm & Hammer, Oshkosh Truck, and Veterinary Pet Insurance.
case veterinary pet insurance
Case: Veterinary Pet Insurance
  • Facts
    • More than 60% of all U.S. households own one dog or one cat or both.
    • There are more than 60 million dogs, 68million cats, and 2 million rabbits in U.S..
    • Spend $28.5 billion a year on the pets.
    • Nearly 75% of pet owners are willing to go into debt to pay for veterinary care.
  • Sales have grown 40% in each of the past year, reaching nearly $72million last year.
st p concept
STP Concept
  • Market positioning: arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
  • Steps for market positioning
    • Identify possible positioning concepts for each target segment
    • Develop marketing mix for each target segment
  • Examples: HITACHI, KOLIN, and SAMPO.
  • Pricing Approach
  • Product-Bundling Pricing
  • Segmented Pricing, e.g. a theater has only 4 seats.