Nature and Scope of Marketing

1. CHAPTER20 Nature and Scope of Marketing 20.1 Nature of Marketing 20.2 Elements of Marketing 20.3 Marketing Plan

2. 20.1 Nature of Marketing GOALS • Discuss the importance of marketing and its role in the economy. • Describe the factors that are part of the nature of marketing. CHAPTER 20

3. Importance of Marketing • Marketing—a set of activities that gets products from producers to consumers • The role of the marketing manager CHAPTER 20

4. Nature of Marketing • Marketing activities • Buying • Selling • Transporting • Storing • Financing • Researching • Risk taking • Grading and valuing • Cost of marketing • Role of marketing CHAPTER 20

5. Marketing’s Role in Top Management CHAPTER 20

6. 20.2 Elements of Marketing GOALS • Describe the role that market determination plays in marketing. • Define basic marketing concepts and the four elements of the marketing mix. CHAPTER 20

7. Market Identification • Whom to serve • Where to serve • Identifying target markets CHAPTER 20

8. Positioning Chart for Target Markets for Bicycles CHAPTER 20

9. The Marketing Mix • Product • Price • Distribution (place) • Promotion CHAPTER 20

10. 20.3 Marketing Plan GOALS • Describe the role of a marketing plan. • Explain the four stages of the product life cycle. • Identify the consumer goods classifications. CHAPTER 20

11. Developing a Marketing Plan • Marketing plan—detailed written description of all marketing activities that a business must accomplish in order to sell its products; written for a specific time period, often one year CHAPTER 20

12. The Product Life Cycle • Introduction stage • Growth stage • Maturity stage • Decline stage CHAPTER 20

13. Product Life Cycle CHAPTER 20

14. Product Categories • Industrial goods • Consumer goods • Types of consumer products • Convenience goods • Shopping goods • Specialty goods • Unsought goods CHAPTER 20