BAHRIA UNIVERSITY

ISLAMABAD CAMPUS

DEPARTMENT OF
MANEGMENT
SCIENCES
(Undergraduate
Studies)

Submitted By:
Abdul Manan
01-111111-002
Submitted To:
Ms. Tallat
Subject:
Principles of Marketing

Date:
24-02-2011

What is marketing?
*> Marketing is a process by which companies create values for customers and built strong
relationship with them by fulfilling their demands and needs.
*> Marketing is the social process by which individuals and groups obtain what they need
and want through creating and exchanging products and value with others. It is the
management process that identifies, anticipates and satisfies customer requirements
profitably.

1
 February 24, 2011

*> Shortly we could say that the right product, in the right place, at the right time, at the
right price is known as marketing. It is totally customer focused or externally focused
process.
*>This customer focused philosophy is known as the 'marketing concept'. The marketing
doesn’t means, a system of marketing or an organizational structure. It is a belief that
profitable sales and satisfactory returns on investment can only be achieved by satisfying
the customer needs and desires

What are the primary goals of marketing?

*> Marketing doesn’t mean to sale any product or to increase in sale of any product but it
is to determine customer wants and to develop a product to satisfy their needs and desires.
*> The primary goal of marketing is to create customer, who decide that it’s in their best
interest to buy the product from you. The successful marketing program differentiates a
company from the competition.
*> To expand the concept further, the mission of marketing is to establish as environment
in which the customer appreciates the benefits of doing business with your firm, and your
company discover how it can contribute to the customer’s success. As strange as it may
seem, marketing has nothing to do with selling. Instead, it has everything to do with
creating the circumstances that make the sale the next logical, appropriate step.

What is the difference between marketing & selling?

MARKETING
Marketing is a process of determining
customer’s wants, desires and develop
* a product to satisfy their needs.
* It is externally focused.
* The management is profit oriented.
* Long term planning.
Seeks to convert customer’s needs into
* products and earn profit.
Consumers determine the price; price
* determines the coast of the product.
Customer satisfaction is the primary
* motive.
SELLING
Selling is to sale product or producing
product first and then trying to persuade
the customers to purchase it.
It is internally focused.
The management is sales-volume
oriented.
Short term planning.
Seeks to convert product into cash.
Cost determines the price.
Sale is the primary motive.