Introduction to Marketing Chapter One (1) Inas A.Hamid 1.

Introduction

to Marketing

Chapter One(1)

Inas A.Hamid

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Marketing has been a part of our life since we had our first pound to spend.

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Organizations should seek to make a profit. So they have many options: High quality High price Good quality Good price Low quality High price Low quality Low price

It depends on the consumer

The marketing concept

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Marketing: means that an organization should seek to make a profit by serving the needs of customer groups.

Effective marketing

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Ops!!!!! We have a problem

Customers, needs may change in the future!!!

So, organization should focus on building long-term relationships in which initial sale is viewed as a beginning step in the process, not as end goal.

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The importance of long-term relationship with customers:

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Take care……

It cost a great deal more to acquire a new customer than to keep an old one.

Loyal customers buy more from your firm over time, so they become more profitable over time.

Loyal customers can be representatives of the products and provide positive WOM.

Loyal customers are often willing to pay more for the quality and value they desire.

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What is marketing?

An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationship in ways that benefit the organization and its stakeholders.

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Major types of marketingService

Marketing designed to create exchanges for intangible products.

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Person

Marketing designed to create favorable actions toward persons.

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Place

Marketing designed to attract people to places

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Cause

Marketing designed to create support for ideas, causes, or issues or to get people to change undesirable behavior.

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product

Marketing designed to create exchanges for tangible products.

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Organization

Marketing designed to attract donors, members, participants, or volunteers.

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Marketing planning

• Situation analysis• Marketing objectives• Target market selection• Marketing mix• Implementation and control

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1- Situation analysis

Analyzing and monitoring the position of the firm in terms of its past and present for predicting the future situation. The situation analysis can be divided into six major areas of concern:

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Dimensions of the Marketing environment

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Each of these areas should be analyzedanalyzed & the resulting information can help in :

identifyingidentifying opportunities, threats to organization's, strengths, and weakness.ServeServe the target market

The cooperative environment.All firms and individuals who have interests in achieving the objectives of the organization such as; suppliers, resellers, distributers, employees, departments ………..

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The competitive environment.What other firms in the industry that rival the organization for both sales and resources.

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The Economic Environment: The overall economy, including business cycles, consumer income and spending patterns.

Inflation, unemployment levels can limit the size of the market.

Rental services less expensive products

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The social environment.Marketers describe this environment in

terms of who the people are???General culture, traditions, norms,

attitudes of people in the society. Also age, education, marital status

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The Political and legal environment.

The laws, regulations, and political pressures affecting marketers.

Laws and regulations can limit marketing activities or be a source of opportunity for organizations that provide goods and services.

assignment

1- Imagine that you want to open an Italian restaurant in Egypt that will sell a variety of pasta dishes. Analyze the Egyptian market according to the six dimensions of marketing environment.If you were a marketer with a travel agency that focused on international adventure travel, what demographic trends would you research before introducing new trips or tours?

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