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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 scope of marketing

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
NATURE OF MARKETING
  • Marketing Activities
    • Buying
    • Selling
    • Transporting
    • Storing
    • Financing
    • Researching
    • Risk taking
    • Grading and valuing

© SOUTH-WESTERN EDUCATIONAL PUBLISHING

nature of marketing3
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 of marketing
ELEMENTS OFMARKETING
  • Product
  • Price
  • Distribution
  • Promotion

© SOUTH-WESTERN EDUCATIONAL PUBLISHING

marketing plan
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
PRODUCT LIFE CYCLE
  • Introduction
  • Growth
  • Maturity
  • Decline

© SOUTH-WESTERN EDUCATIONAL PUBLISHING

product life cycle7

$

Sales

Introduction

Growth

Maturity

Decline

Profits

PRODUCT LIFE CYCLE

© SOUTH-WESTERN EDUCATIONAL PUBLISHING

types of consumer products
TYPES OF CONSUMER PRODUCTS
  • Convenience goods
  • Shopping goods
  • Specialty goods
  • Unsought goods

© SOUTH-WESTERN EDUCATIONAL PUBLISHING