CHAPTER 1

MARKETING
OVERVIEW

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ngocvth@uel.edu.vn
 CONTENTS

01 02 03
What is Key Marketing
Marketing? terms mix
 01
What is Marketing?
1. WHAT IS MARKETING?

Marketing is a process by which

companies create value for customers
and build strong customer relationships in
order to capture value from customers in
return.
1. WHAT IS MARKETING?

Marketing is all around you, in

good old traditional forms and
in a host of new forms, from
websites and mobile phone
apps to videos and online
social media.
MOBILE PHONES OVER YEARS

mid-2000s

1990s

Early
2010s

1980s
1. WHAT IS MARKETING?
 02
Key terms
2. KEY TERMS

PRODUCTS
DEMAND VALUES, COSTS,
SATISFACTION

WANTS
EXCHANGE

NEEDS MARKET
2.1 NEEDS

• Needs are states of felt deprivation.

Includes:
 physical needs for food, clothing, warmth, and
safety;
 social needs for belonging and affection;
 individual needs for knowledge and self-
• Needs are natural and vital for human’s survival
• expression.
Marketing only discovers human needs, not
creating them.
2.2 WANTS
Wants are the form human needs take as they
are shaped by culture and individual personality.

Wants are the form human needs take as they

are shaped by one’s society and are described in
terms of objects that will satisfy those needs.

e.g for food, Viet Pho/ American hamburger/

British fish n chip
2.3 DEMAND

Demands are human wants that are backed by buying

power.

Given their wants and resources, people demand

products with benefits that add up to the most value and
 DISCUSSION QUESTIONS

Are the following 1. Give an example of a

needs, wants or product (good or service)
demand? they purchased recently.
Traffic, luxury goods, a
material art course, Gucci
handbags, transportation, 2. Tell how that
protection, eat, social product satisfied a
status, self-defense need, want or demand.
abilities, a Mercedes-Benz
car
 2.4 PRODUCTS

In marketing, Product Products can be:

is anything offered to
satisfy a need or want.
● A physical product
What customers need
from a physical product
is the service it provides, ● A service: banking,
not its tangible part airline, hotel, tax
preparation, home
repair services
2.4 PRODUCTS

PREMIUM

PRO

BASIC
2.5 VALUES, COSTS & SATISFACTION

• A product’s values are

consumers’ evaluation about
its overall ability to satisfy their
needs.
VALUES, COSTS • A product’s costs are all of the
& SATISFACTION expense (money, time, efforts,
etc.) that consumers pay to
obtain its value
• Consumers’ satisfaction is their
feelings when they compare the
result of their product
consumption of their expectation
before buying
2.5 VALUES, COSTS & SATISFACTION

15k 59k 110k

 2.6 EXCHANGE
• Ways to obtain an
object:

Self-
Begging making Robbing Trading/ Buying

MARKETING
2.6 EXCHANGE
Conditions for exchange to happen:

Each party has the right to

At least
67%
2 parties 33% accept or decline each
other’s proposal

Must be s.t valuable to the other party Each party believes that they
should or wish to trade with
Must be able to carry out the one another
transaction & delivery goods

Marketing actions try to create, maintain, and grow desirable exchange

2.7 MARKET

A market is set of actual and potential buyers.

Consumers market when they:

• search for products

• interact with companies to obtain

information

• make purchases
 03
Marketing Mix
3. MARKETING MIX
The marketing mix is comprised of a set of tools
known a the four Ps:
● Product

● Price

● Promotion

● Place
3. MARKETING MIX