Marketing: Real People, Real Choices 9th Global Edition by Greg W. Marshall Solution manual

 
1.1  Marketing Is the Activity, Institutions, and Processes
The importance organizations assign to marketing activities varies a lot. Sometimes a company uses the term marketing when what it really means is sales or advertising. No matter what size the firm, a marketer’s decisions affect—and are affected by—the firm’s other operations.
 
1.2  Creating, Communicating, Delivering, and Exchanging: The Marketing Mix
To satisfy needs, marketers need many tools. The marketing mix consists of the tools the organization uses to create a desired response among a set of predefined consumers. These tools include the product, the price, the promotional activities and the places. We refer to the marketing mix as the four Ps: product, price, promotion, and place.
 
Although we talk about the four Ps as separate parts of a firm’s marketing strategy, in reality, product, price, promotion, and place decisions are interdependent. Decisions about any one of the four are affected; and affect every other marketing mix decision. Let’s look at each of the four Ps to gain some more insight into their role in the marketing mix.
 
1.2.1      Product
The product is a good, a service, an idea, a place, and a person—whatever is offered for sale in the exchange. This aspect of the marketing mix includes the design and packaging of a good, as well as its physical features and any associated services, such as free delivery.
 
1.2.2   Promotion
Promotion, often referred to as marketing communications, includes all the activities marketers undertake to inform consumers about their products and to encourage potential customers to buy these products.
 
1.2.3   Place
Place refers to the availability of the product to the customer at the desired time and location. This P relates to a channel of distribution, which is the set of firms that work together to get a product from a producer to a consumer.
1.2.4   Price
Price is the assignment of value, or the amount the consumer must exchange to receive the offering. Marketers often turn to price to increase consumers’ interest in a product.
 
At the heart of every marketing act—big or small—is an “exchange relationship.” An exchange occurs when a person gives something and gets something else in return.
 
1.3 Offerings . . . : What Can We Market?
We’ll refer to any good, service, or idea that we can market as a product, even though what you buy may not take a physical form.
 
1.3.1  Consumer Goods and Services
Consumer goods are the tangible products that individual consumers purchase for personal or family use. Services are intangible products that we pay for and use but don’t own. In both cases, though, keep in mind that the consumer looks to obtain some underlying value, such as convenience, security, or status, from a marketing exchange.
 
1.3.2 Business-to-Business Goods and Services
Business-to-business marketing is the marketing of goods and services from one organization to another. Although we usually relate marketing to the thousands of consumer goods begging for our dollars every day, the reality is that businesses and other organizations buy a lot more goods than consumers do. They purchase these industrial goods for further processing or to use in their own business operations.
 
E-commerce is the buying and selling of products on the Internet.
 
1.3.2.1 Not-for-Profit Marketing
You don’t have to be a businessperson to use marketing principles. Many not-for-profit organizations also known as nongovernmental organizations or NGOs, including museums, zoos, and even churches, practice the marketing concept.
The intense competition for support of civic and charitable activities means that only the not-for-profits that meet the needs of their constituents and donors will survive.
 
1.3.3 Idea, Place, and People Marketing
Marketing principles are also used to market ideas, places, and people. Examples include:
 
Tourism marketing
Promoting rock and sports stars
Temporarily famous people promoted on YouTube
 
Some of the same principles that go into “creating” a celebrity apply to you. An entertainer must “package” his/her talents, identify a market that is likely to be interested, and work hard to gain exposure to these potential customers by appearing in the right venues.