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LECTURE ETIQUETTEMOBILE MANNERSSWITCH OFF MOBILE PHONES IN LECTURESINC. NO TEXTING!
LECTURES ARE NOT A TAKE-AWAY OUTLET
LECTURES ARE NOT FRIENDS REUNITED
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The future is not ahead The future is not ahead of us. It has already of us. It has already happened. happened. Unfortunately, it is Unfortunately, it is unequally distributed unequally distributed among companies, among companies, industries and nations.industries and nations.
Kotler on Marketing
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Eras of Marketing
Production Era (1860s -1930s)Production Era (1860s -1930s)
Sales Era (1930s-1950s)Sales Era (1930s-1950s)
Marketing Era (1950s - 1990s)Marketing Era (1950s - 1990s)
Internet Era (1990s- 20??)Internet Era (1990s- 20??)
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Selling Is Different From Marketing (or Figure 1.7)
FOCUS MEANS ENDS
Products Through Selling & Promoting
Sales Volume & Profits
Customer Through Integrated MarketingCustomer Satisfaction & Profits
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Marketing Involves Products, Services, Ideas
PRODUCTSPRODUCTS Consumer goods, Consumer goods,
durablesdurables Capital equipment (eg Capital equipment (eg
Military)Military) SERVICESSERVICES
PersonalPersonal BusinessBusiness
IDEASIDEAS EducationEducation The ChurchThe Church
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Marketing as an ExchangeRelationship
Buyer Seller
Something of Value I.e. money, labour, goods
EX: money electricity
money healthcare
vote political party
Something of Value I.e. goods, services, ideas
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What is Marketing?
“is a societal process by which individuals and groups obtain what
they need and want through creating, offering and freely exchanging
products and services of value with others”
Source: Kotler (2003) p.9
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The Scope of Marketing
Marketing: typically seen as the Marketing: typically seen as the task of creating, promoting, and task of creating, promoting, and delivering goods and services to delivering goods and services to consumers and businesses.consumers and businesses.
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The Scope of Marketing
PlacesPlaces PropertiesProperties OrganizationsOrganizations InformationInformation IdeasIdeas
GoodsGoods ServicesServices ExperiencesExperiences EventsEvents PersonsPersons
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The DecisionsMarketers Make Consumer MarketsConsumer Markets Business MarketsBusiness Markets Global MarketsGlobal Markets Nonprofit and Nonprofit and
Governmental MarketsGovernmental Markets
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Figure 1-5: The Four P Components of the Marketing Mix
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Figure 1-6: Marketing-Mix Strategy
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The Marketing Mix
4 P’s4 P’s 4 C’s4 C’s
ProductProduct Customer needs and Customer needs and wantswants
PricePrice Cost to the customerCost to the customer
PromotionPromotion CommunicationCommunication
PlacePlace ConvenienceConvenience
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Marketing Management from Transactions...
“the management process responsible for identifying, anticipating and
satisfying consumers’ requirements profitability”
Source: Chartered Institute of Marketing 1991
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…to Relationship Marketing
“...is to establish, maintain and enhance relationships with customers and other
partners, at a profit so that the objectives of both parties are met. This is achieved by mutual exchange and the keeping of
promises. Such relationships are usually but not necessarily always long-term.”
Source: Grönroos (1994) JMM p.355
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Peter Drucker (1973)
““Marketing is so basic Marketing is so basic that it cannot be that it cannot be considered as a considered as a
separate function ... it is separate function ... it is the whole business seen the whole business seen from the point of view from the point of view of its final result, from of its final result, from the the customer’s point of customer’s point of
view.”view.”