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D. A. MCLAREN, Food Processing Center, Univ. of Nebraska, Lincoln, Marketing, 60 Food Industry Complex, Lincoln, NE 68583-0928 Marketing used to be easy. “Whatever color you want as long as it is black,” said Henry Ford about his Model “T.” Today the term "marketing" is often misused, overused, and misunderstood. How many times have you heard the comment, “I don't understand marketing”? Marketing involves establishment of a company's philosophy that emphasizes determining customers' needs first and then coordinating all activities to satisfy those needs. This presentation will give you greater insight into marketing—the business activity of presenting products or services to potential customers in such a way as to create perceptions of value and thereby make them eager to buy. As consumers' lives have changed over the past century, so to has the marketing function. Today companies must be focused on consumers' "perceptions of value"—those attributes, real or imagined, anointed as being important—which drive consumer demand for their products. Who determines the "value" of products and services? Who identifies consumer wants and needs? Who communicates, in some observable way, how a product or service satisfies those wants and needs? This presentation will provide the answers. It will demonstrate how marketing involves the interactions between product, pricing, promotion, and distribution (place) to create consumers' perception of value. The research and planning for each marketing component is critical to the success of every new product. These efforts culminate into a consumer-focused marketing strategy that ultimately drives the sales of every new product in the marketplace.
Session 48, The marketing function: Why should I care?
2005 IFT Annual Meeting, July 15-20 - New Orleans, Louisiana |