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Nature and Scope of Marketing

CHAPTER 20. Nature and Scope of Marketing. 20.1 Nature of Marketing 20.2 Elements of Marketing 20.3 Marketing Plan. 20.1 Nature of Marketing. GOALS Discuss the importance of marketing and its role in the economy. Describe the factors that are part of the nature of marketing.

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Nature and Scope of Marketing

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  1. CHAPTER20 Nature and Scope of Marketing 20.1 Nature of Marketing 20.2 Elements of Marketing 20.3 Marketing Plan

  2. 20.1 Nature of Marketing GOALS • Discuss the importance of marketing and its role in the economy. • Describe the factors that are part of the nature of marketing. CHAPTER 20

  3. Importance of Marketing • Marketing—a set of activities that gets products from producers to consumers • The role of the marketing manager CHAPTER 20

  4. Nature of Marketing • Marketing activities • Buying • Selling • Transporting • Storing • Financing • Researching • Risk taking • Grading and valuing • Cost of marketing • Role of marketing CHAPTER 20

  5. Marketing’s Role in Top Management CHAPTER 20

  6. 20.2 Elements of Marketing GOALS • Describe the role that market determination plays in marketing. • Define basic marketing concepts and the four elements of the marketing mix. CHAPTER 20

  7. Market Identification • Whom to serve • Where to serve • Identifying target markets CHAPTER 20

  8. Positioning Chart for Target Markets for Bicycles CHAPTER 20

  9. The Marketing Mix • Product • Price • Distribution (place) • Promotion CHAPTER 20

  10. 20.3 Marketing Plan GOALS • Describe the role of a marketing plan. • Explain the four stages of the product life cycle. • Identify the consumer goods classifications. CHAPTER 20

  11. Developing a Marketing Plan • Marketing plan—detailed written description of all marketing activities that a business must accomplish in order to sell its products; written for a specific time period, often one year CHAPTER 20

  12. The Product Life Cycle • Introduction stage • Growth stage • Maturity stage • Decline stage CHAPTER 20

  13. Product Life Cycle CHAPTER 20

  14. Product Categories • Industrial goods • Consumer goods • Types of consumer products • Convenience goods • Shopping goods • Specialty goods • Unsought goods CHAPTER 20

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