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Marketing

Marketing. A Market Is A Place Where Buyers And Sellers/Consumers Meet. Shop The internet A farmers market. 2 Types of markets Consumers markets Industrial markets. Marketing. “The management process involved in identifying, anticipating and satisfying consumer requirements profitably”.

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Marketing

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  1. Marketing

  2. A Market Is A Place Where Buyers And Sellers/Consumers Meet • Shop • The internet • A farmers market

  3. 2Types of markets • Consumers markets • Industrial markets

  4. Marketing “The management process involved in identifying, anticipating and satisfying consumer requirements profitably”

  5. Marketing is not just: Advertising and Selling • It is a process which requires the organisation to give full considerations to satisfying consumer wants. • Marketing activities include decisions on research, pricing, distribution, the product itself and any promotional activities to support the sale

  6. A Tale of 2 Industries • US car industry • The Swiss watch manufacturer, Swatch

  7. Product Oriented • A product oriented business is one that produces goods (services) without researching the demand or viability of these goods • It is more concerned with production than sales • Puts its effort inestablishing consumer wants rather than actually identifying what they want

  8. Market oriented • This is a business that produces goods (services) in line with the findings of extensive research. • They are continually analysing and reviewing consumer wants • Done by carrying out market research • Product development is costly and time consuming • It is used to minimise the risk of a product failing

  9. Sony – Walkman The Walkman was developed after market research highlighted the fact that people wanted to be able to listen to music as they travelled

  10. Higher Read pages 78-80 Answer questions 1-6 Intermediate 2 Read pages 6-8 Answer question E2 Today ….

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