BADMOO1 Marketing Fundamentals
BADM001 Marketing Fundamentals
Overview Definition What is a market Steps in a marketing system Researching consumer buying behavior Product life cycle Distribution
Overview • Definition • What is a market • Steps in a marketing system • Researching consumer buying behavior • Product life cycle • Distribution
Definition Formal Marketing is a total system of business activities designed to plan, price, promote and distribute"want-satisfying?"goods and services to present and potential customers Informal Marketing involves finding out what people want then planning and developing a product or service which will satisfy those wants and then determine the best way to price, promote and distribute that product or service Stanton: Fundamentals of Marketing
Definition • Formal: – Marketing is a total system of business activities designed to plan, price, promote and distribute “want-satisfying” goods and services to present and potential customers • Informal: – Marketing involves: • finding out what people want • then planning and developing a product or service which will satisfy those wants • and then determine the best way to price, promote and distribute that product or service Stanton: Fundamentals of Marketing
Steps in Marketing Determine the wants Develop the Product/Service Price promote
Steps in Marketing Determine the wants Develop the Product/Service Price & Promote
Marketing is a System product services communication with market feedback Company arget Market payments
Marketing is a System Target Market Company product & services communication with market feedback payments