2/8/2023

LOGO Content
LOGO
What is Marketing?
Chapter 1
MARKETING
OVERVIEW Key terms

Marketing mix

www.themegallery.com

1. What is Marketing?

“...we define marketing as the process by which

companies create value for customers and build
strong customer relationships in order to capture
value from customers in return.”

(Principles of Marketing, Philip Kotler & Gary

Armstrong, 14th edition)

1. What is Marketing? 1. What is Marketing?

Vietnamese toothpaste market in 2014
Which toothpaste brand do you use?

1
 2/8/2023

VN toothpaste market before 1995

2. Key terms 2.1. Needs

Values,costs, • Human needs are states of felt deprivation.

Needs
satisfaction
• Includes:
- physical needs for food, clothing, warmth and safety
Wants Exchange - social needs for belonging and affection
- individual needs for knowledge
• Needs are natural and vital for human's survival
Demand Market • Marketing only discovers human needs, not
creating them.

Products

2.1. Needs 2.2. Wants

• Wants are the form human needs take as they are

shaped by culture and individual personality
• Example: needs: food , American -> hamburger,
Vietnamese -> pho
• Wants are shaped by one’s society and are
described in terms of objects that will satisfy those
needs.

2
 2/8/2023

2.3. Demand Excercise

 When backed by buying power, wants become
demands
 Given their wants and resources, people demand
products with benefits that add up to the most value
and satisfaction
 Are the following needs, wants or demand?
 traffic, luxury goods, a martial art course, Gucci
handbags, transportation, protection, eat, social
status, self-defense abilities, a Mercedes Benz
car

2.4. Products 2.4. Products

• In Marketing, a product is anything offered to

satisfy a need or a want.
• A product can be:
– a physical product
– a service: banking, airline, hotel, tax preparation,
and home repair services
• What customers need from a physical product
is the service it provides, not its tangible part.

2.5. Values, costs & satisfaction 2.6. Exchange

• A product's values are consumers' evaluation about • Ways to obtain an object:

its overall ability to satisfy their needs
• A product's costs are all of the expenses (money,
time, efforts,etc.) that consumers pay to obtain its
values
• Consumers' satisfaction is their feelings when they
compare the result of their product consumption of
self- beg rob trade
to their expectation before buying buy
make

Marketing

3
 2/8/2023

2.6. Exchange 2.7. Market

Conditions for exchange to happen:
• At least 2 parties • In Marketing, a market is the collection of the
• There must be something valuable to the current or potential customers of a product or
other party. service.
• Must be able to carry out the transaction and • Customers → buying decision
delivery of goods • Consumers → use the product/service
• Each party has the right to accept or decline
each other's proposal
• Each party believes that they should or wish
to trade with one another

3. Marketing mix

LOGO

LOGO