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Distribution Channels Lecture #1-2 Notes Chapter 1

by: ashley guzman

Distribution Channels Lecture #1-2 Notes Chapter 1 SCLT 2380

Marketplace > University of Houston > SCLT 2380 > Distribution Channels Lecture 1 2 Notes Chapter 1
ashley guzman
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These are my notes for SCLT 2380, Chapter 1 of the first 2 lectures and the book. It covers characteristics of marketing, universal function of marketing, command and market-directed economy, and c...
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This 4 page Class Notes was uploaded by ashley guzman on Wednesday September 9, 2015. The Class Notes belongs to SCLT 2380 at University of Houston taught by STEPHEN DWIGHT ELLIOT in Summer 2015. Since its upload, it has received 30 views.

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Date Created: 09/09/15
SCLT 2380 Distribution Channels Lecture 12 Chapter 1 Marketing39s Value to Customers Firms and Societv Marketing consists of more than just sales and advertisements The following factors are needed in production Analyze the needs of customers models variety style Predict the needs of target market Estimate demand Estimate price Choose where is the best place to sell Choose ways to promote Estimate competition Provide the service Marketing making sure the right goods are produced l Production making quality goods and performing services D This results in Customer Satisfaction Why is Marketing Valuable Marketing effects Consumer needs provides choices convenience and focus on what is available for customers on a day to day basis Marketing provides quality products price ranges demand Current jobs Selling your ideas Important to every organization39s success basic principles are similar in selling products as well as ideas Future jobs taking a marketing approach while looking forjobs will help you determine how to satisfy employer s needs interests and desires Innovation and standards of living economic growth and development comes from marketing research and innovation in companies Better ways to satisfy consumers provide more choices and quality in products raising standards of living Micro Vs Macro Two alternative views Micro Marketing set of activities performed by organizations anticipate customer needs and has direct flow of goods to customers Macro Marketing view as a social process satisfying varying needs of all citizens every economy needs it supplied by demand Products are given at the right place time and price Marketing strives to bridge the gap between producers D consumers The characteristics of marketing are 0 Pro t and nonpro t organizations nonpro t seek more members or accepting an idea 0 More than persuasion products are made after customer needs are identi ed and the goal is to meet those needs to where product practically quotsells itselfquot Begins with the customer39s needs produce anticipated needs use should be considered in quality design and packaging Does not work alone provide direction to production accounting nancial and all other activities involved for best product Exchanges needsatisfying offer to customers Builds relationships meet needs before and after the purchase contact discounts lead to repurchase keeps offeringgiving service What are the Universal Functions of Marketing Buying evaluating quality goods Selling promoting products Transporting moving goods Storing hold until ordered Standardization and Grading sorting products to make buyingselling easier and reduces need for inspection Financing necessary funds to store produce promote sell and buy the product Risk Taking products can have low demand be damaged stolen or outdated Market Information marketing specialist may control parts of it the collection of data data analysis and distribution details needed for planning and control of the need satisfying process Examples of things to consider How will items be shipped What is the best way Where will items be stored Will they be stored in regional warehouse Will you own warehouses to store items People who perform marketing functions include Producers Intermediates wholesalers retailers other specialists l rms that specialize in trade work in exchange process can be cheaper than if company did it themselves Collaborators transport rms research rms ad agencies product testing rms ISP39s l rms that help facilitate one or multiple marketing functions not including buying or selling Consumers Economic Systems Economic systems are the way an economy organizes use of scarce resources in the production and consumption process Here are characteristics of both types Command Economy 0 Government decides production and distribution quotplannedquot economy 0 Works if there is a simple economy minimal variety in goods is under adverse conditions MarketDirected Economy Government role is limited adjusts itself Price is value measure what the product is worth to consumer Freedom of choice Public interest groups inform The Marketing Concept A triple bottom line measuring the organization39s economic social and environmental outcome for longterm success is used in some organizations Triple bottom lines are sometimes known as the measures of people planet and pro t This is an attempt to incorporate and motivate the marketing concept composed of 1 Customer satisfaction 2 Total company efforts 3 And pro t Customer Value is crucial in the marketing concept The costs and bene ts must be equal taking the customer s POV into consideration The customer might not dwell on the value so much and competition ts into this concept because a company can look for giving bene ts that have not been addressed Giving new satisfaction to needs that have not yet been considered by companies or consumers can help beat competition Lastly customer value builds relationships The marketing concept is not adopted by industrial commodities such as steel coal and chemicals They choose to be productionoriented because of the minimal difference or limited amount of competitors Here are differences between marketing orientation and production orientation Marketing Orientation Makes what can be sold Plan is made to t customer s needs Market research determines needs of customer customerbased Innovates by searching for new opportunities Build relationships and give satisfaction so customers will come again The advertising must promote a needsatisfying bene t of goods Longrun before and after pro table customer relationship followup Eliminate costs that don39t bene t customer Production Orientation Sells what can be made Plans made their way at what they think is a fairconsiderable price as is innovation focuses on low pricing for example Their attitude for customers is quotthey should be glad we exist bringing better product and pricequot Marketing research can be used for reaction to products made Innovates by focusing on technology and cutting cost Customer service is just needed to prevent complaints Advertising focuses on the features and how products are made Customer relationships end after sale Keep costs as low as possible to make product Critique of Marketing Advertising can be overused annoying wasteful misleading Unsafe poor quality products are advertised Unnecessary expensive products not needed for customer bene t Serve rich exploit poor with high prices minimal customer bene t Overpromise service does not help when asked Products pollute environment Private information is used to sell them things they do not want or need People become materialistic want to collect material instead of focusing on social needs Easy consumer credit buying things they cannot afford


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