Page 299 - Introduction to Business

Marketing

t has been said in the business world that CHAPTER 8
I“nothing happens until a sale is made.” With Marketing Basics REE
this occurrence, companies generate revenues
that they expect will exceed the cost of the
product or service sold, so that a profit is CHAPTER 9
produced. Developing the Product
It is the responsibility of a company’s and Pricing Mixes
marketing department to develop the means
whereby companies sell their products and PART TH
services at a profit. While other departments— CHAPTER 10
finance, production, research and development, Developing the Promotion
accounting, human resources, and so on— and Distribution Mixes
contribute significantly to the sale of a
company’s products and services, marketing
has the direct responsibility for contacting the
market and convincing people or organizations
in that market to purchase them.
Part Three of this text is concerned with
companies’ marketing efforts. Chapter 8
introduces the reader to some basic marketing
concepts. These include the four types of
markets, the marketing environment, what
information is needed about markets and the
environment and how it can be obtained,
marketing objectives and strategies, and how
companies’ customers need to be managed.
Chapter 9 provides general guidelines for
developing a marketing mix, then deals
specifically with two aspects of the marketing
mix: the product mix and the pricing mix.
Chapter 10 is concerned with the remaining two
elements of the marketing mix: promotion and
distribution.
As with the other chapters making up this
text, Chapters 8, 9, and 10 reveal how compa-
nies’ operations, in this case marketing opera-
tions, are affected by globalization, technology,
and ethics.

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