UNIT 1: INTRODUCTION OF MARKETING.

Meaning of Marketing. (A) Scope and Importance. (B) Core Marketing Concepts. (C) Marketing as a Function. (D) Marketing Orientations or Concepts (E) Difference between Marketing and Selling

(F) Marketing Process (G) Marketing Mix -Developing the Marketing Mix -The role of Marketing Mix in Marketing planning and Marketing Strategy -Choosing the Optimum Marketing Mix.

Marketing
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals American Marketing Association

Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

(A) Scope of Marketing What do we market

Goods Services Events Experiences Personalities Place Organizations Properties Information Ideas and concepts

(B) Core marketing concept:

1. Needs, Wants and Demands 2. Product or Offering and Value Proposition 3. Value and satisfaction 4. Exchanges and Transactions 5. Relationships and Networks 6. Market 7. Marketing Channels 8. Segmentation, Target market and Positioning 9. Supply Chain 10. Competition

MARKETING AS A FUNCTION THE NINE FUNCTIONS OF MARKETING In order for the marketing bridge to work correctly -- providing consumers with opportunities to purchase the products and services they need -- the marketing process must accomplish nine important functions.

The functions are: (1) Buying. (2) Selling (3) Financing (4) Storage

(5) Transportation (6) Processing (7) Risk-Taking (8) Market Information (9) Grading and Standardizing

(D) MARKETING ORIENTATIONS OR CONCEPTS 1. Production Concept 2. Product Concept 3. Selling Concept 4. Marketing Concept 5. Societal Marketing Concept 6. Holistic Concept (a) Internal Marketing Concept (b) Integrated Marketing Concept (c) Relationship Marketing Concept (d) Performance marketing

DIFFERENCE BETWEEN SELLING AND MARKETING

MARKETING PROCESS
The marketing process involves five steps Understand the market place and customer needs and wants Design a customer-driven marketing strategy Construct a marketing program that delivers superior value Build profitable relationships and create customer delight Capture Value from customers in return

MARKETING MIX The Product The Price The Place