Marketing © Wikibooks This work is licensed under a Creative Commons-ShareAlike 4.0 International License Original source: WikiBooks http://en.wikibooks.org/wiki/Marketing Contents Chapter 1 Introduction ..................................................................................................1 1.1 Definition .............................................................................................................................1 1.2 Marketing Models ..............................................................................................................2 1.3 Aspects of Marketing .........................................................................................................2 1.4 The Market .........................................................................................................................3 1.5 The Product ........................................................................................................................3 1.5.1 Goods .......................................................................................................................4 1.5.2 Services ....................................................................................................................4 1.5.3 Ideas (Intellectual Property) ..................................................................................4 1.6 Product Pricing ...................................................................................................................4 1.7 Product Promotion ............................................................................................................5 1.8 Product Distribution ..........................................................................................................5 Chapter 2 Marketing Strategy.......................................................................................6 2.1 The Organization's Marketing Strategy & Six Duties .....................................................6 2.2 Evaluating Market Opportunities ....................................................................................6 2.2.1 Broad Techniques ..................................................................................................7 2.2.2 Specific Techniques ................................................................................................7 Chapter 3 Marketing Plan..............................................................................................8 3.1 The Marketing Plan ...........................................................................................................8 3.2 Executive Summary............................................................................................................8 3.3 Situation Analysis (SWOT) ...............................................................................................11 3.4 Goals .................................................................................................................................11 3.5 Action Plan ........................................................................................................................12 3.6 Marketing Mix ..................................................................................................................12 3.6.1 Product ..................................................................................................................12 3.6.2 Promotion .............................................................................................................12 3.6.3 Price .......................................................................................................................13 3.6.4 Placement ..............................................................................................................13 3.7 Budget ...............................................................................................................................13 3.8 Marketing Research ........................................................................................................13 Chapter 4 Targeting & Segmentation .........................................................................14 4.1 Segmentation ...................................................................................................................14 4.1.1 Generic Markets (Large Segments) ....................................................................14 4.1.2 Product Markets (Small Segments) ....................................................................14 4.1.3 Segmentation Variables........................................................................................15 4.2 Targeting ...........................................................................................................................15 4.2.1 Segment Dimensions ...........................................................................................16 4.3 Positioning ........................................................................................................................16 4.4 Segmentation in the Digital Economy ...........................................................................16 Chapter 5 Consumer Behavior ....................................................................................18 5.1 Consumer Market ............................................................................................................18 5.2 Industrial Market .............................................................................................................18 5.3 The Purchase Decision Process for Consumer Markets .............................................19 5.3.1 Psychological Variables ........................................................................................19 5.3.2 Social Influences ...................................................................................................19 5.3.3 Purchase Situation ...............................................................................................19 5.3.4 Needs Motivation .................................................................................................19 5.3.4.1 Needs ..........................................................................................................19 5.3.4.2 Wants ..........................................................................................................20 5.3.5 Economic Needs ...................................................................................................20 5.3.6 Search for Information ........................................................................................20 5.3.7 Problem Solving ....................................................................................................20 5.3.8 Purchase Product .................................................................................................20 5.3.9 Post Purchase Evaluation ....................................................................................21 5.4 Adoption Process for New Products .............................................................................21 5.5 Consumer Behavior for Industrial Markets ..................................................................21 Chapter 6 Product Development ................................................................................22 6.1 Introduction ......................................................................................................................22 6.2 Types of New Products ...................................................................................................22 6.3 The Process .......................................................................................................................23 6.4 Recap .................................................................................................................................25 Chapter 7 Market Research.........................................................................................26 7.1 Introduction ......................................................................................................................26 7.2 Define the problem ..........................................................................................................27 7.3 Analyze the situation........................................................................................................27 7.4 Get problem specific data ...............................................................................................27 7.5 Analyze and interpret the data .......................................................................................27 Chapter 8 Marketing Ethics .........................................................................................29 8.1 Introduction ......................................................................................................................29 8.2 General Guidelines ..........................................................................................................29 8.3 Social Responsibility ........................................................................................................30 1 Chapter 1 Introduction 1.1 Definition Available under Creative Commons-ShareAlike 4.0 International License (http://creativecommon s.org/licenses/by-sa/4.0/). Marketing is the science of meeting the needs of a customer by providing valuable products to customers by utilizing the expertise of the organization, at same time, to achieve organizational goals. According to The American Marketing