MARKETING I

1
MARKETING I

• Introduction to Marketing

2
LEARNING OBJECTIVES

• to understand the general meaningof Marketing
• to recognise the importance of Marketing

3
DEFINITIONS OF MARKETING

• Marketing is the human activity directed at
  satisfying human needs and wants through an
  exchange process.
• Kotler
• Marketing is the management process that
  identifies, anticipates and satisfies customer
  requirements profitably.
• The chartered Institute of Marketing
• The right product, in the right place, at the
  right time, and at the right price.
• Adcock et al

4
MARKETING CRITERION

• There must be two parties, each with unsatisfied
  needs or wants.
• Each party must have something to offer
• The parties must beable to communicate

5
THE MARKETING CONCEPT

• Choosing and targeting appropriate customers
• Positioning your offering
• Interacting with those customers
• Controlling the market effort
• Continuity of performance

6
CHANNEL AND DISTRIBUTION TACTICS

• A channel of distribution comprises a set of
  institutions which perform all of the activities
  utilised to move a product and its title from
  production to consumption.
• Bucklin

7
A SYSTEM OF EXCHANGE
Promotion
Contact
Negotiation
Customers
Suppliers
Transport and Storing
Financing
Packaging
Money
Goods
8
INDIRECT CHANNEL INTERMEDIARIES

• WHOLESALERS
• Breaks down bulk
• Provides storage facilities
• Reduces contact cost
• Takes marketing responsibility

• AGENTS
• International markets
• Commission or stockist
• Difficult to control

9
DIRECT CHANNEL INTERMEDIARIES

• RETAILERS
• Strong customer relationship
• Hold variety of products
• Promotion
• Merchandising
• Final price
• Branding

• INTERNET
• Global market
• Segment specific
• Low set-up cost
• Use of e-commerce technology
• Growing market

10
CHANNEL CONSIDERATIONS

• Direct or indirect channels
• Single or multiple channels
• Length of channel
• Types of intermediates
• Number of intermediates at each level
• Producer-Distributor fit
• Changes in PLC
• Market segment

11
CRITERIA FOREFFECTIVE MARKETING

• The plan must be specific enough so that it can
  be implemented and communicated to people in the
  firm
• The plan must be measurable so that one can see
  if it has been achieved
• The goal must be achievable or realistic
• The goals must be consistent

12
THE CONSUMER BUYING PROCESS
InputTHE MARKETING MIX

• Product
• Price
• Promotion
• Place
• People
• Process
• Physical Evidence

• Purchase Decisions
• Product Choice
• Location Choice
• Brand Choice
• Other Choices

CONSUMER
4 Ps

• Psychological Inputs
• Culture
• Attitude
• Learning
• Perception

Cohen, 1991