Chapter 1 Mc Grew Hill

Part 1

When You Finish

This Chapter, You

Should

1. Know what marketing is and why you

should learn about it.

2. Understand how

marketing creates

satisfied customers.

3. Understand how

marketing serves customer differences.

4. Know what the

marketing concept

is—and how it affects

how we manage a

firm or nonprofit

organization.

5. Understand what

customer value is and

why it is important to

customer satisfaction.

MARKETING FUNDAMENTALS

Chapter One

The Nature of

Marketing

Marketing—What’s In It

for You?

Welcome to the world of marketing and to a book that will serve as

your travel guide to that world. Your

guidebook will describe marketing,

highlight ideas and practices worthy of additional focus, identify

some potentially dangerous situa-

tions, and present a range of skills

and organizational processes that

we believe every manager must

know in order to prosper.

Every manager? This might

seem to be a very bold statement.

Certainly, it is not hard to accept

this claim if you are planning a

career in marketing, advertising, or

sales. But what about everyone

else? What’s in it for them?

We believe there are both professional and personal rewards

that everyone can gain from

knowing more about marketing. Let’s take a moment to

review these so that you can

better focus your energies in

this course.

Marketing can help you

get the job you want. In this sense,

2

price

place

produc

promotion

4

Part 1 • Marketing Fundamentals

better leader. Your marketing

affect the price you pay for

with others. You’ll learn why

edge can go beyond the link-

whatever you buy. Indeed,

companies structure adver-

ages with different functions. It

you’ll position yourself to get

tisements and promotions as

can help you lead and influ-

better deals.

they do (e.g., why do compa-

ence others in your

Marketing can raise your

nies run ads in a certain way);

role in your community.

why...