13:  Marketing:  creating exchanges through the use of products, promotion, price and distribution (place).

 

Harley Davidson

 

Major marketing functions (Table 13.1)

 

A.  Utility

                1.  Form

                2.  Place

                3.  Time

                4.  Possession

 

                *  How did marketing evolve and what is the marketing concept?

 

 

                *  Lying to Customers (373)

 

B.  Market:  a group of potential buyers

                1.  Consumer market

 

                2.  Industrial market

 

 

C.  Marketing Strategies

                *  Target Market:  group for which a specific marketing mix is designed

                *  Marketing Mix:  combination of product, promotion, price, and place

 

                1.  Undifferentiated Approach

 

 

                2.  Market Segmentation Approach

 

 

 

D.  The four ‘P’s of Marketing

                1.  Product

 

                2.  Promotion

 

                3.  Price

 

                4. Place (Distribution)

 

E.  Marketing Plan (Table13.4)

 

 

F.  Determining Markets and Estimating Sales – how do companies do it?

 

 

 

G.  Buying Behavior:  decisions and actions of people involved in buying and using products

1.  Consumer

 

2.  Organizational

 

H.  The American Consumer

                1.  Income

 

                2.  Why do consumers buy?

 

                3.  What do consumers buy?

 

                4.  Where do consumers buy?

 

5.  When do consumers buy?