1 / 13

The Importance of Marketing

The Importance of Marketing. Chapter 1, Section 2. Economic Benefits of Marketing. Marketing bridges the gap between you and the maker or seller of an item. Economic Benefits of Marketing. New and Improved Products --businesses look for opportunities to please the customer.

gene
Télécharger la présentation

The Importance of Marketing

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Importance of Marketing Chapter 1, Section 2

  2. Economic Benefits of Marketing Marketing bridges the gap between you and the maker or seller of an item

  3. Economic Benefits of Marketing New and Improved Products --businesses look for opportunities to please the customer

  4. Economic Benefits of Marketing Lower Prices–add value and increase demand. • High Demand = Lower Production Price • Sell at a lower price but increase the quantity sold • Higher profits even with low prices • Adds value

  5. 5 types of Utility Added Value = Utility Utilities are attributesof a product or service that make it capable of satisfying consumers’ wants and needs.

  6. Form Utility Changing raw materials or putting parts together to make them more useful – making and producing things. • Sand into glass • Wood into paper • Silk into fabric

  7. Place Utility Having a product where customers can buy it.

  8. It Involves • Location – may be through a catalog, at a retailer (actual store) or Internet. • Transporting the product to the location.

  9. Time Utility Having a product available at a certain time of year or a convenient time of day. • Planning and ordering • Time of day and week • Time of year: holidays and seasons

  10. Possession Utility The exchange of a product for some monetary value.

  11. Payment may be made by • Cash • Personal checks • Credit cards • Installments (layaway)

  12. Information Utility Involves communication with the consumer. • ads • packaging • signs • displays • owner’s manuals

  13. These utilities AREdirectly related to marketing: • Place • Time • Possession • Information

More Related