UNIT 1 INTRODUCTION TO MARKETING

Marketing

Marketing is the process whereby society, to supply its consumption needs, evolves distributive systems
composed of participants, who, interacting under constraints – technical (economic) and ethical (social)
– create the transaction or flows which resolve market separations and result in exchange and
consumption. ~Bartles

Marketing is essentially about marshalling the resource of an organization so that they meet the
changing needs of the customers on whom the organization depends. ~Palmer

Marketing is not only much better than selling, it is not a specialized activity at all, it encompasses the
entire business. It is the whole business seen from the point of view of the final result, that is, from the
customers’ point of view. Concern and responsibility for marketing must therefore permeate all areas of
the enterprise. ~Drucker

A social and managerial process by which individuals and groups obtain what they need and want
through creating and exchanging products and value with others. ~Kotler

FUNCTIONS OF MARKETING

CORE CONCEPTS

Need

Want

Demand

PRINCIPLES OF MARKETING: Introduction to Marketing

Product

Customer Value

Customer Satisfaction

Exchange

Transactions

Marketing Concept Philosophies

 The Production Concept

 The Product Concept

 The Selling Concept

 The marketing Concept

 The Societal Marketing Concept

PRINCIPLES OF MARKETING: Introduction to Marketing

STRATEGIC 3C’s

CUSTOMER

COMPANY COMPETITION

3 LEVELS OF MARKETING STRATEGIES

 Strategic Marketing Management

 Marketing Strategy
 Marketing Tactics

STRATEGIC MARKETING MANAGEMENT

VISION MISSION

INDUSTRY ANALYSIS

 Threat of new entrants

 Threat of substitute
 Bargaining power of suppliers
 Bargaining power of customers
 Rivalry

KFS

PRINCIPLES OF MARKETING: Introduction to Marketing

  Controllable
 Uncontrollable

STRENGTH OPPORTUNITY

WEAKNESS THREAT

MARKETING STRATEGY

 Target Market

 Marketing Mix

PRINCIPLES OF MARKETING: Introduction to Marketing