Professional Documents
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1 MKT243
1 MKT243
An Overview of Marketing
LO 1 : Overview of marketing
Definition of Marketing
The American Marketing Association’s definition of marketing focuses
on the second facet. Marketing is the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and society
at large.
Marketing involves more than just activities performed by a group of
people in a defined area or department.
LO 2 :Elements of marketing mix (4P’s)
2. Price
3. Place
4. Promotion
Pr
ice tion
m o
o
Pr
LO 3 :Marketing management philosophies
Orientation Focus is on…
The Cohorts
• Tweens : Ages 9–14
• Teens : Ages 13–19 Gen Z ???
• Gen Y : Born between 1979–1994
• Gen X : Born between 1965–1978
• Baby Boomers : Born between 1946–1964
Economic Factors
• Marketing managers must understand and react to the
economic environment.