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Marketing: Helping Buyers Buy Chapter 13 Marketing: Helping Buyers Buy Chapter 13

Marketing • Activities buyers and sellers perform to facilitate mutually satisfying exchanges Marketing • Activities buyers and sellers perform to facilitate mutually satisfying exchanges

The Marketing Mix • The 4 Ps of Marketing –Price –Product –Promotion –Place • The Marketing Mix • The 4 Ps of Marketing –Price –Product –Promotion –Place • Distribution

Consumer Market • All the individuals that want goods and services for personal consumption Consumer Market • All the individuals that want goods and services for personal consumption or use

Business Market (B 2 B) • All individuals and organizations that want goods/services to Business Market (B 2 B) • All individuals and organizations that want goods/services to use in producing other goods and services or to sell, rent, or supply to others

B 2 B or Consumer? • Factor that determines whether product is classified as B 2 B or Consumer? • Factor that determines whether product is classified as consumer product or B 2 B product is the end use of the product

Target Marketing • Marketing directed toward those groups an organization decides it can serve Target Marketing • Marketing directed toward those groups an organization decides it can serve profitably

Segmentation • Geographic Segmentation – Dividing market by areas, such as cities or regions Segmentation • Geographic Segmentation – Dividing market by areas, such as cities or regions • Psychographic Segmentation – Dividing market by values, attitudes and interests

Segmentation • Demographic Segmentation – Segmentation by age, income, education level • Volume Segmentation Segmentation • Demographic Segmentation – Segmentation by age, income, education level • Volume Segmentation – Segmenting the market by usage (volume of use)

One-to-One Marketing • Involves developing a unique mix of goods and services for each One-to-One Marketing • Involves developing a unique mix of goods and services for each individual customer

Niche Marketing • Process of finding small but profitable market segments and designing or Niche Marketing • Process of finding small but profitable market segments and designing or finding products for them

Mass Marketing • Developing products and promotions designed to please large groups of people Mass Marketing • Developing products and promotions designed to please large groups of people