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delivering, and exchanging offerings that have value for customers, clients, partners, and society
at large. (AMAs definition)
Marketing is communicating the value of a product, service or brand to customers, for the
purpose of promoting or selling that product, service, or brand.
Today, marketing must be understood not in the old sense of making a saletelling and
sellingbut in the new sense of satisfying customer needs. (Philips Kotler)
Marketing is The process by which companies create value for customers and build strong
customer relationships in order to capture value from customers in return. (Philips Kotler).
Marketing is managing profitable customer relationships. The twofold goal of marketing is to
attract new customers by promising superior value and keep and grow current customers by
delivering satisfaction. (Philips Kotler) E.g service shoes, parwaz fans, Telenor.
The four ps concept in marketing
Product
Price
Place
Promotion
Importance
Marketing myopia
The mistake of paying more attention to the specific products a company offers than to the
benefits and experiences produced by these products. E.g WAPDA, Railways
Pitfall: Disloyalty
2. Design a customer-driven marketing strategy
A marketing management is the mechanism to devise a customer driven marketing
strategy whereas Marketing management is the art and science of choosing target markets
and building profitable relationships with them. Marketing management involve answers
to the following questions.
What customers will we serve (whats our target market)? and How can we serve these customers
best (whats our value proposition)?