Marketing Management Notes

The Scope of Marketing

Marketing is about identifying and meeting human and social needs. It is defined as the
activities, institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers and society. Marketing involves
understanding consumer needs and facilitating value exchange, not just selling. Examples
like Nintendo's Wii and Apple's iPad illustrate marketing success through careful
consideration of consumer needs, competition, and external factors.

What is Marketed?
Marketing spans various domains, including goods, services, events, experiences, persons,
places, properties, organizations, information, and ideas. It includes marketing physical
goods, services in advanced economies, events like trade shows, creating memorable
experiences, personal branding, attracting people to places, property exchanges,
organizational image building, disseminating information, and promoting social causes.

The Marketing Exchange

The Marketing Exchange involves stimulating and responding to demand in various
markets, such as resource, manufacturer, intermediary, consumer, and government
markets, facilitating the exchange of goods, services, and resources.