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Lecture Basic Marketing: A global-managerial approach: Chapter 2 - William D. Perreault, E. Jerome McCarthy

When you finish this chapter, you should: Know what the marketing concept is and how it should affect strategy planning in a firm or nonprofit organization, understand what customer value is and why it is important to customer satisfaction, understand what a marketing manager does,. | Chapter 2: Marketing’s Role within the Firm or Nonprofit Organization When you finish this chapter, you should 2-2 Chapter 2 Objectives 1. Know what the marketing concept is—and how it should affect strategy planning in a firm or nonprofit organization. 2. Understand what customer value is and why it is important to customer satisfaction. 3. Understand what a marketing manager does. 4. Know what marketing strategy planning is—and why it is the focus of the book. 5. Understand target marketing. 6. Be familiar with the four Ps in a marketing mix. 7. Know the difference between a marketing strategy, a marketing plan, and a marketing program. 8. Understand the important new terms. Simple Trade Era Production Era Sales Era Marketing Department Era Marketing Company Era Sell Surplus Increase Supply Beat Competition Coordinate and Control Long-Run Customer Satisfaction Focus: Focus: Focus: Focus : Focus : Marketing’s Changing Role 2-3 Summary Overview This slide illustrates five stages of marketing evolution. In general, the idea of marketing has moved from a focus on products to a focus on customer needs. An important point to remember is that some managers have not made it all the way to the final stages. The Changing Role of Marketing Simple Trade Era. As specialization developed, families traded or sold their output to local middlemen. Local middlemen, in turn, resold these goods to other consumers or more distant middlemen. This early role of marketing is still the focus of much of the marketing activity in the less-developed areas of the world. Production Era. During the production era, the company focuses on production of a few specific products. A production focus is more common when few products are available in a given market. Discussion Note: A production era focus helps economies increase capacity where demand exceeds supply. Sales Era. As production rises, competition increases. As more companies move to meet demand, the focus shifts to selling activities | Chapter 2: Marketing’s Role within the Firm or Nonprofit Organization When you finish this chapter, you should 2-2 Chapter 2 Objectives 1. Know what the marketing concept is—and how it should affect strategy planning in a firm or nonprofit organization. 2. Understand what customer value is and why it is important to customer satisfaction. 3. Understand what a marketing manager does. 4. Know what marketing strategy planning is—and why it is the focus of the book. 5. Understand target marketing. 6. Be familiar with the four Ps in a marketing mix. 7. Know the difference between a marketing strategy, a marketing plan, and a marketing program. 8. Understand the important new terms. Simple Trade Era Production Era Sales Era Marketing Department Era Marketing Company Era Sell Surplus Increase Supply Beat Competition Coordinate and Control Long-Run Customer Satisfaction Focus: Focus: Focus: Focus : Focus : Marketing’s Changing Role 2-3 Summary Overview This slide illustrates five stages of