Marketing Dynamics

Week 2
Marketing Defined
Its a management Process
Its about giving customers what they want.
It anticipates customer requirements
It fulfils customer requirements profitably
It offers and exchanges ideas, goods and services
Pricing, promotion and distribution of ideas, goods and
services
What Is Marketing?
American Marketing Association Definition

Marketing is the activity, set of institutions, and
processes for creating, communicating, delivering
and exchanging offerings that have value for
customers, clients, partners and society at large.
(Lib,2007)

A Simple Marketing System
Key Customer Markets
Consumer markets
Business markets
Global markets
Nonprofit/Government markets
Core Concepts
Needs, wants, and
demands
Target markets,
positioning,
segmentation
Offerings and
brands

Value and
satisfaction
Marketing
channels
Supply chain
Competition
Marketing
environment

Value and Satisfaction
Quality
Service
Price
Marketing Channels
Communication
Distribution
Service
Holistic Marketing
Marketing Management Tasks
Develop market strategies and plans
Assess market opportunities and customer
value
Choose value
Design value
Deliver value
Communicate value
Sustain growth and value
Marketings task: satisfying consumer needs
Business orientations
Production.
Product.
Selling.
Marketing
Production and Product orientation
Table 1.1 Brassington and Pettitt.
Selling and Marketing orientation
Table 1.1 Cont. Brassington and Pettitt.
The external organisational environment
Marketing as an interface
The basic marketing mix (4Ps)
The extended marketing mix (7Ps)
Price.
Product.
Place.
Promotion.

People.
Processes.
Physical evidence.