Chapter 1: Introduction to Strategic Marketing Management

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Chapter 1 Introduction to Strategic Marketing
Management
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What is 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

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Simple Marketing System
Goods/services
Money
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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
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Marketing Concept

• Need to Focus on Marketing Concept
• Focuses on needs/ wants of target markets
  delivering value better than competitors

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Evolving Views of Marketings Role
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Evolving Views of Marketings Role
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Overlap Between Strategic Planning Marketing

• There is some overlap between the two, in terms
  what you are going to learn
• We will emphasise marketing concepts and approach
  here rather than strategic concepts
• However, there will be some inevitable overlap
  here and there