01b. basic marketing background, Study Guides, Projects, Research of Abnormal Psychology

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An Overview

Of Marketing

Mukhtar Halliru

Business Administration &

Entrepreneurship Department

Bayero University Kano

Marketing Defined...  (^) Marketing is the process of planning and executing the conception , pricing , promotion , and distribution of ideas , goods and services to create exchanges that satisfy individual and organizational objectives.  (^) What functions does marketing involve? “planning and executing”  (^) What areas does marketing cover? “ conception, pricing, promotion, and distribution ”  (^) What types of endeavors use marketing? “ ideas, goods and services ”  (^) Why do we do marketing? “to satisfy individual and organizational objectives”

Two Types of Marketing

 Macromarketing : marketing activities within the

context of an entire economic or social system

(e.g., the effects of advertising on kids)

 Micromarketing : marketing activities within the

context of an individual organization (e.g., the

effect of a price increase on sales of CSD by

NBC)

o Micromarketing decisions are very common as

a part of daily business decisions.

Exchange and Marketing Marketing is based around the concept of creating exchanges to satisfy wants and needs.

The premise is that someone wants something

you have (e.g., a product or service), and you

want something this person has (e.g., money).

Utility

 Exchanges occur to create satisfaction on the part

of both parties. In economic terms, this

satisfaction is referred to as utility.

Form Utility: when the product is provided in a useable form ( how I want it). Time Utility: when the product is provided at the time it is desired ( when I want it) Place Utility: when the product is delivered at the location desired ( where I want it) Possession Utility: when the product delivers the intended benefits ( what I want/need)

Utility  Specific Examples of Utility Form Utility: Minced meat for meat pie ( how I want it). Time Utility: Air line company that keeps to advertised schedule ( when I want it) Place Utility: DHL delivered the parcel at my house yesterday morning ( where I want it) Possession Utility: My hair is very soft and easy to style after my last re-touching with Soft & Beautiful ( what I want/need)

Why Do We Study Marketing?

 Marketing plays an important role in society.

 Marketing is important to businesses.

 (^) “Marketing is too important to be left to the marketing department.” –David Packard

 Marketing offers sound career opportunities.

 Marketing affects your life every day

 (^) Understanding marketing helps you be a better citizen.

 Nations with developed marketing systems

usually have higher standards of living.