Marketing: An Introduction

INTRODUCTION TO MARKETING
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Marketing: An Introduction

What is a market?

A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want (Philip Kotler).

Marketing: An Introduction

Marketing Defined

Marketing is a process that is

Managerial Social Individual Wants, Desires Demands Products and/or Services

Marketing Management
Marketing: An Introduction

Marketing management 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 goals (Philip Kotler)

What is marketing management?

Marketing management has the task of influencing the level, timing, and composition of demand in a way that will help the organization achieve its objectives.

Marketing: An Introduction

Marketing an organizational 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 its stakeholders

Marketing: An Introduction

Orientations towards marketing

Production concept (before 1930): demand > supply Selling concept (1930-1950): supply > demand

Marketing concept (post-1960s): analyze consumer needs before producing and selling, market orientation, competition

Marketing: An Introduction

Marketing Concept versus Selling Concept

Starting Point Focus Means Ends

The Marketing Concept

Market

Customer needs

Integrated marketing

Profits from satisfied customers

The Selling Concept

Factory

Product

Sell and Promote it

Profits through sales volume

Figure 1.3

Marketing: An Introduction

Common marketing problems

How can we identify and choose profitable market segments? How can differentiate our offer from our competition? How should we react to competitors? How can we satisfy our customers and build brand loyalty? How can we measure the effectiveness of an add campaign, of Public Relations, of a promotion, etc?

Marketing: An Introduction

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