NATURE AND SCOPE OF MARKETING. 21. Discuss the importance of marketing and its role in the economy. List the activities that are a part of marketing. Define basic marketing concepts and the four elements of the marketing mix. Explain the four stages of the product life cycle.
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NATURE AND SCOPEOF MARKETING 21 Discuss the importance of marketing and its role in the economy. List the activities that are a part of marketing. Define basic marketing concepts and the four elements of the marketing mix. Explain the four stages of the product life cycle. Identify the consumer goods classifications. © SOUTH-WESTERN EDUCATIONAL PUBLISHING
NATURE OF MARKETING • Marketing Activities • Buying • Selling • Transporting • Storing • Financing • Researching • Risk taking • Grading and valuing © SOUTH-WESTERN EDUCATIONAL PUBLISHING
NATURE OF MARKETING • Cost of Marketing • Role of Marketing • Market Determination • Whom to serve • Where to serve • Identifying target markets © SOUTH-WESTERN EDUCATIONAL PUBLISHING
ELEMENTS OFMARKETING • Product • Price • Distribution • Promotion © SOUTH-WESTERN EDUCATIONAL PUBLISHING
MARKETINGPLAN Marketing Plan — detailed written description of all marketing activities that a business must accomplish in order to sell its products © SOUTH-WESTERN EDUCATIONAL PUBLISHING
PRODUCT LIFE CYCLE • Introduction • Growth • Maturity • Decline © SOUTH-WESTERN EDUCATIONAL PUBLISHING
$ Sales Introduction Growth Maturity Decline Profits PRODUCT LIFE CYCLE © SOUTH-WESTERN EDUCATIONAL PUBLISHING
TYPES OF CONSUMER PRODUCTS • Convenience goods • Shopping goods • Specialty goods • Unsought goods © SOUTH-WESTERN EDUCATIONAL PUBLISHING