Defining Marketing

1
Defining Marketing

• 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.
• - Philip Kotler (p. 7)

2
Core Concepts of Marketing
Target Markets Segmentation
Needs, Wants, and Demands
Product or Offering
Value and Satisfaction
Exchange and Transactions
Relationships and Networks
Marketing Channels
Supply Chain
Competition
Marketing Environment
3
Demand management

• Negative
• No demand
• Latent
• Declining
• Irregular
• Full
• Overfull
• Unwholesome

4
Simple Marketing System
Goods/services
Money
5
Task environment

• Competitors
• Intermediaries
• Buyer consumers
• Suppliers
• Complimentors (metamediaries)

6
The Four Ps
The Four Cs
Marketing Mix
Conven- ience
Customer Solution
Customer Cost
Communication
7
The product?

• Tangible
• Intangible

8
Company Orientations Towards the Marketplace
Consumers prefer products that are widely
available and inexpensive
Production Concept

• Consumers favor products that
• offer the most quality, performance,
• or innovative features

Product Concept
Consumers will buy products only if the company
aggressively promotes/sells these products
Selling Concept
Focuses on needs/ wants of target markets
delivering value better than competitors
Marketing Concept
9

• Societal or issue/cause-related marketing

10
Customer needs

• Stated need
• Real or Unstated needs
• Delight or Secret needs

11
Evolving Views of Marketings Role
12
Evolving Views of Marketings Role