MARKETING MATTERS The need for businesses to use marketing dramatically increased when it became possible to manufacture products in large quantities
Once you have completed this lesson, you should be able to: Define the marketing concept
KEY TERMS Competitors
Think of a product you purchase that many dierent businesses produce. Why do you choose this particular product? How satised are you with this product? Why is tha
Define the Marketing Concept
Satisfy Customer Needs
This philosophy is now known as the marketing concept and it, therefore
MARKETING SCENARIO Supplying a special service for pilgrims
What specific need that prospective customers have is mentioned in the text, and how does the company respond to it
What differentiates the services that this tour operator provides from the services that some other travel companies provide
In order to apply the marketing concept successfully, businesses must do these three things
When Customer Needs Are Not Satisfied
Explain the reasons why marketing activities have developed in the way that they have since the start of the twentieth century
Why do you think a business would choose to use chatbots to provide customer service? What are the disadvantages of chatbots for consumers and the business
Think of a time when you were dissatisfied with a product? What was your response and what effect did it have on your perception of the company that produced it
Implementing the Marketing Concept
Identify the Market
Develop a Marketing Mix
Place (distribution) includes the locations and methods used to make the product or service available to customers
What is the difference between companies that use the marketing concept and those that don't
What should a business have as its primary focus during the planning, production, pricing, distribution, and promotion of a product or service? Why
What do businesses do when they develop a pricing strategy for their products or services, and why is this important
Which four elements make up the marketing mix
Connect to the Real World You are a consultant working with the owner of a new restaurant in Riyadh
Make Academic Connections Math
Name the 4 Ps of the marketing mix
What is the first step in implementing the marketing concept
Why do businesses decide to use chatbots for customer service and simple marketing interactions
Successful marketers consider customer needs and work to satisfy those needs as they produce and market their products and services. What is the term for this approach