Fundamental of

Marketing
MKT243
Chapter 1
Introduction

Topic Outline
What Is Marketing?
What is Marketing Management?
Marketing Management Orientation/
Philosophies
Differences between sales and market
orientation

What is Marketing?
Marketing is a process by which
companies create value for customers and
build strong customer relationships to
capture value from customers in return
(Kotler. P & Armstong. G, 2008).
Marketing is an organization function and
a set of processes for creating,
communicating, and delivering value to
customers and for managing customer
relationships in ways that benefit the
organization and the stakeholder.
(McDaniel, Lamb, Hair, 2008)
3

What is the Marketing

Management?
Marketing management is the art
and science of choosing target
markets and building profitable
relationships with them
What customers will we serve?
How can we best serve these
customers?
4

Marketing Management
Orientations/ Philosophies

Marketing Management Orientations/

Philosophies

Differences between Sales

and Market Orientation
Organizati Firms
ons
business
focus?

Product
directed

firms
primary
goals

Tools to
achieve
goals

Sales
orientati
on

Inward, on
the
organization
s needs

Selling
goods and
services

Everybody

Profit
through
maximum
sales volume

Primarily
through
intensive
promotion

Market
orientati
on

Outward, on
the wants
and
preferences
of customers

Satisfying
customer
wants and
needs and
delivering
superior
value

Specific
groups of
people

Profit
through
customer
satisfaction

Through
coordinated
marketing
and
interfunction
al activities

Marketing Process