MARKETING
MARKETING
Learning objectives Syllabus Definition of Marketing Marketing Management Philosophies Principles of Value Driven Marketing
Learning Objectives Syllabus Definition of Marketing Marketing Management Philosophies Principles of Value Driven Marketing
Marketing defined Marketing is the process of planning and executing the conception, pricing promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives(AMA 1985)
Marketing defined: Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives (AMA 1985)
Definition emphasizes exchange: A process in which people give up something in order to receive something that they would rather have Food Mc Donald's Consumers Education University Students Charity Donors Donations
Definition emphasizes exchange: A process in which people give up something in order to receive something that they would rather have Food Education Donations McDonald’s Consumers University Students Charity Donors ?
Definition implicitly recognizes two types of Customers Organizational buyers--people who purchase goods/services for businesses, government agencies and other institutions Consumers--people who purchase goods services for their own use or for gifts to others
Definition implicitly recognizes two types of Customers Organizational buyers--people who purchase goods/services for businesses, government agencies and other institutions Consumers--people who purchase goods & services for their own use or for gifts to others
Definition should distinguish Needs Wants and demand Need state of deprivation of some satisfaction Want desire for specific satisfier of need Demand: wants backed by ability and Willingness to buy
Definition should distinguish: Needs, Wants and Demand Need: state of deprivation of some satisfaction Want: desire for specific satisfier of need Demand: wants backed by ability and willingness to buy
Marketing Management Philosophies Production orientation
Marketing Management Philosophies: Production Orientation
Marketing Management Philosophies Sales orientation Assumes if left alone consumers will ordinarily not buy enough of the organization's product Characterizes firms when there is a surplus of goods Tries to stimulate demand through promotional efforts
Assumes if left alone consumers will ordinarily not buy enough of the organization’s product Characterizes firms when there is a surplus of goods Tries to stimulate demand through promotional efforts Marketing Management Philosophies: Sales Orientation
Marketing management philosophies Marketing Concept 4 key pillars customer needs target market integrated marketing profitability
* 4 key pillars * customer needs * target market * integrated marketing * profitability Marketing Management Philosophies: Marketing Concept
Marketing sales Orientations Contrasted Starting Point Focus Means Ends Selling Profits Factory Existing and throug h Products Promoting Volume The Selling concept Customer Integrated Profits Market through Needs Marketing Satisfaction The Marketing Concept
Marketing & Sales Orientations Contrasted Factory Existing Products Selling and Promoting Profits through Volume Market Customer Needs Integrated Marketing Profits through Satisfaction The Selling Concept The Marketing Concept Starting Point Focus Means Ends
