1. intro to mkng

8/6/2019 1. Intro to Mkng

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Introduction to Marketing


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Marketing? Meeting Needs Profitably.

Marketing is an organizational function and a

set of processes for creating, communicating

and delivering value to customer and for

managing customer relationships in ways that

benefit the organizations and its stakeholders.

-American Marketing Association


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"Marketing

"is not

"Sales

".

Broadly, Marketing creates the

atmosphere to make it easy for sales to

happen.


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Selling Marketing

1. Emphasis is on the product

2. Company Manufactures the

product first

3. Management is sales volume

oriented

4. Planning is short-run-

oriented in terms of todaysproducts and markets

5. Stresses needs of seller

1. Emphasis on consumer

needs wants2. Company first determines

customers needs and wants

and then decides out how to

deliver a product to satisfy thesewants

3. Management is profit

oriented

4. Planning is long-run-

oriented in todays products andterms of new products,

tomorrows markets and future

growth

5. Stresses needs and wants ofbuyers


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Selling Marketing

6. Views business as a good producing process

7. Emphasis on staying with existing

technology and reducing costs

8. Different departments work as in a highly

separate water tight compartments

9. Cost determines Price

10. Selling views customer as a last link in

business

6. Views business as consumer producing

process / satisfying process

7. Emphasis on innovation on every existing

technology and reducing every sphere, on

providing better costs value to the customer by

adopting a superior technology

8. All departments of the business integrated

manner, the sole purpose being generation of

consumer satisfaction

9. Consumer determine price, price

determines cost

10. Marketing views the customer last link in

business as the very purpose of the business


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Marketing Management Marketing Management is defined as the

art and science of choosing target markets

and getting, keeping and growing

customer through creating, delivering and

communicating superior customer value.


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What is Marketed?

Goods

Services

Events

Experiences

Persons

Places

Properties

Organizations

Information

Ideas


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Evolution Of Marketing The Production Concept

"if we make it, they will come."

The Product Concept

Companies that build the

"bettermousetrap" will gain favor


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The Selling Concept hard sell

belief that consumers wouldn't purchase unless they weresold.

The Marketing Concept

communicates that "the customer is king." Everything thatthe company does focuses on the customer.

The Holistic Marketing Concept

This includes how their marketing affects society, as awhole.


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Core Marketing

Concepts

1.Customer Vs. Consumer

Customer: the person who buys the product

Your mom buys you a cd

Consumer: the person who uses the product

You are the one who listens to it


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2. Market

All potential customers who:

Share common needs and wants

Have the ability to pay

Are willing to pay


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3. Need, Wants and Demands

Needs are the basic human requirements.

Wants is the form taken up by human needs asshaped by culture and individual personality.

Demands are wants for specific products backedby an ability to pay.


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4.Target Market, Positioning and

Segmentation

Narrowing a market to a very specific group

of people


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5. Offerings and Brands

Offerings can be combination of product,

services, information and experiences.

A brandis an offering from know source.


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6. Value & Satisfaction

7. Marketing Channel

Communication Distribution Service

Channel

Channel

Channel


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1. intro to mkng

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