Marketing & its Principles

Chapter 1
Lesson 1
Objectives

 Discuss the history of marketing

 Define marketing
 Explain marketing as a process
 Demonstrate understanding of the
marketplace and customer needs;
 Marketing Acrostic
Write words or phrases or ideas that you think
describes the meaning of Marketing?

M-
A-
R-
K-
E-
T–
I–
N–
G–
 The Four Key Management Functions

 Production
 Finance
 Human Resource
 Marketing
When was the term “marketing”
used?
History
between 1900 and 1910
Marketing started in the early part of the
twentieth century out of questions and issues
neglected by science and economics.

In the early years of study and teaching of

trade practices, the word “marketing” was not
used.
Instead, “trade,” “commerce,” and
“distribution” were the common operations
of the area.
Who first used the term “marketing”
in a book?

Paul W. Ivey
the first to use as a book title Principle of
Marketing, although others and previously
used “principles” in connection with
advertising, retailing and credit granting.
 Which of the following “view”
best describes Marketing?

Telling about the productSatisfying customer needs

& making a Sale
The Marketing Process
 MARKETING

a process by which companies

create value for customers and
build strong customer
relationships to capture value
from customers in return

Delta University
What motivates customers to
take action?
Key Concepts in understanding
the Marketplace and the Customers
 Need
 Want
 Demand
 Offerings
 Expectations
 Exchanges and Relationships
 Need

 State of self-deprivation including

physical, social and individual
necessities
 Physical needs
 Social needs
 Individual needs
 Wants

 Form that a human need takes, as

shaped by culture and individual
personality.
 Demand

 The consumer's desire to purchase

goods and services and willingness
to pay a price for a specific good or
service.
 an increase in the price of a good or
service will decrease the demand
(quantity demanded)
Market Offerings

 are some combination of products,

services, information, or
experiences offered to a market to
satisfy a need or want
Expectations

 Customers
 They expect value and satisfaction

 Marketers
 set the right level of expectations (not
too high, not too low)
Exchanges and Relationships

 Exchange
 the act of obtaining a desired object from
someone by offering something in return

 Relationships
 Marketers aim is to build and maintain strong
relationships by consistently delivering superior
value to customers
Recap
Post Lesson Activity A. Demand
1. A form taken by a need which is shaped by B. Need
culture or personality
C. Want
2. combination of products, services,
D.Market offering
information, or experiences offered to a
market to satisfy a need or want E. Marketing
3. consumer's desire to purchase goods and F. New view of
services and willingness to pay a price Marketing
4. Satisfying customer’s needs and wants G.Ivan W. Pauley
5. State of self-deprivation including physical, H.Paul W. Ivey
social and individual necessities
I. Food
6. the act of obtaining a desired object from
someone by offering something in return J. Entertainment
7. Another term for trade, commerce and K. Exchange
distribution
L. 1920-1930
8. The first author of a book “Principles of
Marketing”
M.1900-1910
References

1. Principles of Marketing:
http://deltauniv.edu.eg/new/Businessadministration/wp-
content/uploads/pom12_media01-2.pdf
2. Marketing and Its Approaches https://
www.slideshare.net/johnpadua/principles-of-marketing-chapter-1-49586
357?from_action=save
3. Marketing Defined by the American Marketing Association
4. Marketing Defined
https://www.slideshare.net/guestcc4c0/unit-1-defining-marketing-and-the
-marketing-process-to-post-presentation