187
Section 10.1 Introduction to Marketing
Copyright Goodheart-Willcox Co., Inc.
as the means of achieving profit goals. The three
elements of the marketing concept are customer
satisfaction, total company approach, and profit,
as shown in Figure 10-2.
• Customer satisfaction is the degree to which
customers are pleased with a company’s
goods or services.
Many companies find that being good
stewards of the environment can help increase
sales and profits. This is because consumers
often hold companies in higher regard when they
act responsibly and have environmentally friendly
policies.
When making presentations to customers
and other audiences, many companies request
that presenters make green presentations. Green
presentations avoid waste of paper, supplies, and
energy.
Presentations typically consist of slideshows,
website demonstrations, and handouts of important
points for the audience. Green presenters take
advantage of technology to post presentations
on YouTube, Facebook, or company websites.
Interested audience members can visit the sites to
review presentation information, download or view
the presentation itself, and download electronic
handouts. This practice saves resources, such
as paper for handouts and energy to run the
presentation with lights and audio equipment.
Green Business
Green Presentations
• Total company approach is all functions of a
company working together to achieve goals.
• Profit is the difference between the income
earned and expenses incurred by a business
during a specific period of time.
Successful businesses focus on the customers and
listen to their needs and wants. In turn, customer
satisfaction can be achieved and repeated
business can be earned.
Four Ps of Marketing
Many people think of advertising when they
hear the term marketing. However, marketing is
much more than just advertising. It includes the
four Ps of marketing, which are product, price,
place, and promotion.
• Product is anything that can be bought or
sold.
• Price is an amount of money requested or
exchanged for a product.
• Place includes the activities involved in
getting goods and services to customers.
• Promotion is the process of
communicating with potential customers
in an effort to influence their buying
behavior.
Successful businesses consider each of the four
Ps to provide customer satisfaction.
Elements of the Marketing Concept
Customer
satisfaction
Total
company
approach
Profit
Goodheart-Willcox Publisher
Figure 10-2 The marketing concept focuses on every
aspect of the business to keep the customer satisfied,
because that is the key to long-term profit.