Marketing: Real People, Real Choices 9th Global Edition by Greg W. Marshall Solution manual
Chapter 1
Welcome to the World of Marketing:
Create and Deliver Value
I. Chapter Overview
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Therefore, marketing is all about delivering value to stakeholders, that is, to everyone who is affected by a transaction. Organizations that seek to ensure their long-term profitability by identifying and satisfying customers’ needs and wants adopt the marketing concept.
In Chapter 1, these concepts are explored. In addition, students learn the definition of product and benefit. Students are introduced to the four Ps and their interdependent relationship. Students quickly learn that marketing is a part of our everyday life.
II. Chapter OBJECTIVES
Explain what marketing is, the marketing mix, what can be marketed, and the value of marketing.
Explain the evolution of the marketing concept.
Understand value from the perspectives of customers, producers, and society.
Explain the basics of market planning.
III. Chapter Outline
►Marketing Moment Introduction
Use a top of mind awareness exercise to introduce the different facets of marketing. Instruct students to write down the first word that pops into their head when you say these words: your school name, soup, jeans, marketing, and salesperson. Explain that school name, soup and jeans were just “warm ups.” (Although Campbell’s is likely to be the most popular answer for soup—this is great time to illustrate dominant market share). Most students will respond “advertising” or “sales” in response to marketing—this gives the instructor a chance to introduce the marketing mix and make that point that marketing covers more than just communication.
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Real People, Real Choices—HERE’S MY PROBLEM at TWITTER
Chapter 1 begins with a discussion of Twitter, a social media platform that democratizes the world by providing a forum for users to share their experiences and views. The question becomes: how do we harness the innovation within Twitter’s walls and leverage it to solve challenges the team faces with employees, consumers, and marketers? And subsequently, how can we track it?
1. Make a case for the management team to hold weekly meetings to
discuss ideas and innovations within Twitter.
2. Build an internal online tool to allow employees to share, build,
and measure ideas (i.e., a Twitter within Twitter).
3. Share ideas on Twitter to galvanize support and subsequently share
findings with the Twitter team.
Go to MyMarketingLab for the option Michael chose.
Visit the Twitter website here—
https://twitter.com
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mARKETING: what is it?
Marketing is first and foremost about satisfying consumer needs. We like to say that the consumer is king (or queen), but it’s important not to lose sight of the fact that the seller also has needs—to make a profit, to remain in business, and even to take pride in selling the highest-quality products possible. Products are sold to satisfy both consumers’ and marketers’ needs—it’s a two-way street. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Welcome to the World of Marketing:
Create and Deliver Value
I. Chapter Overview
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Therefore, marketing is all about delivering value to stakeholders, that is, to everyone who is affected by a transaction. Organizations that seek to ensure their long-term profitability by identifying and satisfying customers’ needs and wants adopt the marketing concept.
In Chapter 1, these concepts are explored. In addition, students learn the definition of product and benefit. Students are introduced to the four Ps and their interdependent relationship. Students quickly learn that marketing is a part of our everyday life.
II. Chapter OBJECTIVES
Explain what marketing is, the marketing mix, what can be marketed, and the value of marketing.
Explain the evolution of the marketing concept.
Understand value from the perspectives of customers, producers, and society.
Explain the basics of market planning.
III. Chapter Outline
►Marketing Moment Introduction
Use a top of mind awareness exercise to introduce the different facets of marketing. Instruct students to write down the first word that pops into their head when you say these words: your school name, soup, jeans, marketing, and salesperson. Explain that school name, soup and jeans were just “warm ups.” (Although Campbell’s is likely to be the most popular answer for soup—this is great time to illustrate dominant market share). Most students will respond “advertising” or “sales” in response to marketing—this gives the instructor a chance to introduce the marketing mix and make that point that marketing covers more than just communication.
p. 27
Real People, Real Choices—HERE’S MY PROBLEM at TWITTER
Chapter 1 begins with a discussion of Twitter, a social media platform that democratizes the world by providing a forum for users to share their experiences and views. The question becomes: how do we harness the innovation within Twitter’s walls and leverage it to solve challenges the team faces with employees, consumers, and marketers? And subsequently, how can we track it?
1. Make a case for the management team to hold weekly meetings to
discuss ideas and innovations within Twitter.
2. Build an internal online tool to allow employees to share, build,
and measure ideas (i.e., a Twitter within Twitter).
3. Share ideas on Twitter to galvanize support and subsequently share
findings with the Twitter team.
Go to MyMarketingLab for the option Michael chose.
Visit the Twitter website here—
https://twitter.com
p. 28
p. 28
p. 29
p. 30
p. 30
p. 30
p. 30
p. 31
p. 31
p. 32
p. 32
p. 32
mARKETING: what is it?
Marketing is first and foremost about satisfying consumer needs. We like to say that the consumer is king (or queen), but it’s important not to lose sight of the fact that the seller also has needs—to make a profit, to remain in business, and even to take pride in selling the highest-quality products possible. Products are sold to satisfy both consumers’ and marketers’ needs—it’s a two-way street. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.