chapter 8 intro to business n.
Skip this Video
Loading SlideShow in 5 Seconds..
Chapter 8 Intro to Business PowerPoint Presentation
Download Presentation
Chapter 8 Intro to Business

Loading in 2 Seconds...

play fullscreen
1 / 13

Chapter 8 Intro to Business - PowerPoint PPT Presentation

  • Uploaded on

Chapter 8 Intro to Business. Producing and Marketing goods and Services. Role of Marketing. Idea for development of a new product. Select product name Where products sold and how to get them there. (Channels of Distribution) Set price and how people can pay for it. (cash and carry/credit)

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
Download Presentation

PowerPoint Slideshow about 'Chapter 8 Intro to Business' - fabiana

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
chapter 8 intro to business

Chapter 8Intro to Business

Producing and Marketing goods and Services

role of marketing
Role of Marketing
  • Idea for development of a new product.
  • Select product name
  • Where products sold and how to get them there. (Channels of Distribution)
  • Set price and how people can pay for it.
    • (cash and carry/credit)
  • Customer service and product improvement after product is sold.:)

Marketing Functions

  • Product/Service Planning-assists in design and development by gathering information and testing ideas.
  • Purchasing-identify and obtain the products needed for marketing activities.
  • Financing-make sure financing and credit are available for purchase and sale of products.
  • Distribution-getting products to customers.
  • Pricing-set prices and payment method.
  • Risk Management-provides security and safety for products and people and reduces business risk.
  • Marketing Information Management-obtains and organizes information needed to make marketing decisions.
  • Promotion-communicating with consumers to encourage purchase.:)

A Marketing Philosophy

The philosophy of business is known as the marketing concept , which considers the needs of customers when planning, pricing, distributing, and promoting a product or service.

  • To be successful, the business must be able to:
    • Identify customers they want to serve and understand their needs.
    • Develop a product that will satisfy the customer and complete the necessary marketing activities.
    • Complete these activities at a profit.:)

A Marketing Strategy

Is a two step process that involves:

  • Target Market-A clearly identified group of consumers with needs that the business want to satisfy.
  • Marketing Mix-a combination of marketing elements designed to meet the needs of a target market.
    • The 4 P’s of Marketing:
      • Product-anything offered to the target market to satisfy their needs (products or services).
      • Place-locations where product sold convenient to customers.
      • Price-what customers are able to pay and method of payment.
      • Promotion-methods used to communicate information to customers in order to encourage purchase.:)

Six Steps of Product Development

Buying Motives-the reasons for making a purchase. (sometimes rational and logical, sometimes not):)


Getting Products and Services to Consumers

  • Channel of Distribution-is the path that a product travels from producer to consumer.
    • Direct Channel of Distribution-from producer to consumer.
    • Indirect Channel of Distribution-goods move through one or more middle firms between producer to consumer.
    • Wholesaler-a middle firm that assists with distribution activities between businesses.
    • Retailer-sells directly to consumer (may obtain goods from wholesaler or producer) collect products of many manufacturers and resells them. (Wal-Mart, Target, Meijers):)

Characteristics of Effective Distribution

  • 4 important differences to consider in developing an effective channel of distribution.
    • Differences in Quantity-adjusts the large quantity produced to the small quantity purchased.
    • Differences in Assortment-accumulate many varieties of products in one place.
    • Differences in Location-brings products from all over the world to convenient locations.
    • Differences in Time-having the right products at the right time.:)

The Role of Pricing

  • Objectives of Pricing-one of three goals
    • Maximize Profits-“how?”
    • Increase Sales-”how?”
    • Maintain Image-”how?” (Kobe!)
  • Factors that will influence Price
    • Quantity-Walmart????
    • Customer Service Offered
    • Fragile and requires special handling.
    • Businesses in the channel of distribution-direct vs. indirect.
    • Amount of advertising and Communications necessary to inform consumers.:)

The Role of Pricing

  • Promotional methods (3)
    • Who are prospective customers being targeted?
      • How many and where?
    • What is the Message?
    • What is the budget for promotion?