The Marketing Process - 7575 Words

Basic Quantitative Analysis for Marketing Break-even Analysis Fixed Cost – costs that remain constant over a range of activity irrespective of the quantity produced †¢ ex: rent, insurance, depreciation, office overheads Variable Cost – costs that vary directly with the quantity produced †¢ ex: direct labor, direct materials, sales commissions Break-Even Point – the point of production at which Total Revenue = Total Cost Total Revenues = P X Q Total Cost = TFC + TVC Total Variable Cost (TVC) = VC/unit X Q Contribution Margin (CM) = P – VC/unit Total Contribution = (P – VC/unit) X Q BEP: BEQ = TFC/CM Break-Even Sales: BE$ = BEQ X P BEP w/ profit goal = TFC + Profit Goal/CM Bross Cord calculations Given: Price gives†¦show more content†¦There are five alternative concepts under which organizations design and carry out their marketing strategies (in chronological order): Production Concept – the idea that consumers will favor products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency †¢ Profit maximization through economies of scale †¢ Can sometimes lead to marketing myopia †¢ Philosophy during the Industrial revolution Product Concept – the idea that consumers will favor products that offer the most in quality, performance, and innovative features and that the organization should therefore devote its energy to making continuous product improvements †¢ Profit maximization through superior product performance †¢ Can also sometimes lead to marketing myopia Selling Concept – the idea that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort †¢ Profit maximization through the generation of demand for products (through sales volume) †¢ â€Å"Inside-out† perspective—â€Å"†¦any color he wants, so long as it’s black.† †¢ Typically practiced with unsought goods – goods that buyers do notShow MoreRelatedThe Marketing Process Of Marketing1341 Words   |  6 Pages The marketing world where we live in is changing daily, but the main, basic function on marketing is remains the same. 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Sound marketing ethics are usually those that result in consumer satisfaction, with no negative effect, with the goods and services being recognizedRead MoreMarketing Ethics Into The Marketing Process1471 Words   |  6 PagesEthical Marketing Ethical marketing refers to the application of marketing ethics into the marketing process. Ethical marketing is about making marketing decisions that are morally right. The ethics of the marketing decision can incorporate any part of marketing including sourcing of raw materials, staff employment and product advertising and pricing. 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Task-1Read MoreOrganization Marketing Process1209 Words   |  5 PagesManagement | SUBJECT CODE amp; TITLE | : | MCG 202 / Marketing | ASSIGNMENT TITLE | : | Applying marketing concepts and theories for organizations | Summary of the Learning Outcomes covered: 1. Investigate the concept and process of marketing 2. Explore the concepts of segmentation, targeting and positioning 3. Identify and analyze the individual elements of the extended marketing mix 4. Apply the extended marketing mix to different marketing segments and contexts ASSIGNMENT TYPE | : | IndividualRead MoreOrganization Marketing Process1196 Words   |  5 Pages SUBJECT CODE amp; TITLE | : | MCG 202 / Marketing | ASSIGNMENT TITLE | : | Applying marketing concepts and theories for organizations | Summary of the Learning Outcomes covered: 1. Investigate the concept and process of marketing 2. Explore the concepts of segmentation, targeting and positioning 3. 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