Introduction to Marketing

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Marketing?
 “Meeting Needs Profitably.”

 “Marketing is an organizational function and a

set of processes for creating, communicating
and delivering value to customer and for
managing customer relationships in ways that
benefit the organizations and its stakeholders.”
-American Marketing Association

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"Marketing" is not "Sales".

 Broadly, Marketing creates the

atmosphere to make it easy for sales to
happen. Marketing consists things like:

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Selling
1. Emphasis is on the product
2. Company Manufactures the
product first
3. Management is sales volume
oriented
4. Planning is short-run-oriented 4. Planning is long-run-oriented
in terms of today’s products
and markets
5. Stresses needs of seller
Marketing
1. Emphasis on consumer needs
wants
2. Company first determines
customers needs and wants and
then decides out how to deliver a
product to satisfy these wants
3. Management is profit oriented
in today’s products and terms of
new products, tomorrow’s
markets and future growth
5. Stresses needs and wants of
buyers
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Selling Marketing

6. Views business as a good producing 6. Views business as consumer producing

process process satisfying process

7. Emphasis on innovation on every existing

7. Emphasis on staying with existing technology and reducing every sphere, on
technology and reducing costs providing better costs value to the customer
by adopting a superior technology

8. All departments of the business integrated

8. Different departments work as in a highly manner, the sole purpose being generation of
separate water tight compartments consumer satisfaction

9. Consumer determine price, price

9. Cost determines Price determines cost

10. Marketing views the customer last link in

10. Selling views customer as a last link in business as the very purpose of the business
business

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Marketing Management
 “Marketing Management is defined as the
art and science of choosing target markets
and getting, keeping and growing
customer through creating, delivering and
communicating superior customer value.”

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What is Marketed?
 Goods  Places
 Services  Properties
 Events  Organizations
 Experiences  Information
 Persons  Ideas

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Evolution Of Marketing
 The Production Concept
"if we make it, they will come."

The Product Concept

Companies that build the "better
mousetrap" will gain favor

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 The Selling Concept – hard sell
belief that consumers wouldn't purchase unless they were
sold.

 The Marketing Concept

communicates that "the customer is king." Everything that
the company does focuses on the customer.

 The Holistic Marketing Concept

This includes how their marketing affects society, as a
whole.

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Core Marketing Concepts
1.Customer Vs. Consumer

Customer: the person who buys the product

 Your mom buys you a cd
Consumer: the person who uses the product
 You are the one who listens to it

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2. Market
 All potential customers who:
 Share common needs and wants
 Have the ability to pay
 Are willing to pay

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3. Need, Wants and Demands

Needs are the basic human requirements.

Wants is the form taken up by human needs as

shaped by culture and individual personality.

Demands are wants for specific products backed

by an ability to pay.

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4.Target Market, Positioning and
Segmentation
Narrowing a market to a very specific group
of people

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5. Offerings and Brands
Offerings can be combination of product,
services, information and experiences.

A brand is an offering from know source.

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6. Value & Satisfaction
7. Marketing Channel

Communication Distribution Service

Channel Channel Channel

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