What is Marketing??

Selling? Advertising? Promotions? Making products available in stores? Maintaining inventories?

All of the above, plus much more!

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March 12, 2000

Marketing = ?
Marketing

is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals

American Marketing Association

March 12, 2000

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Marketing = ?
Marketing

management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

March 12, 2000

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GREAT WORDS OF MARKETING

1.

2.

3.

The purpose of a company is to create a customerThe only profit center is the customer. A business has twoand only two basic functions: marketing and innovation. Marketing and innovation produce results: all the rest are costs. The aim of marketing is to make selling unnecessary.
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GREAT WORDS OF MARKETING

4. While great devices are invented in the Laboratory, great products are invented in the Marketing department. 5. Marketing is too important to be left to the marketing department.

March 12, 2000

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Marketing = ?
Marketing Marketing

is the sum of all activities that take you to a sales outlet. After that sales takes over. is all about creating a pull, sales is all about push.

Marketing
product price place

is all about managing the four Ps

promotion

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Marketing Mix Tools

Marketers use numerous tools for desired responses from their target markets. These tools constitute a marketing mix: Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. Further it can be classified into 4 Ps Ps of marketing: product, price, place, and promotion.
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March 12, 2000

The 4 Ps & 4Cs

Marketing Mix Product Customer Solution Convenience Place

Price Customer Cost

Promotion Communication
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Difference Between - Sales & Marketing ?

Sales
trying to get the customer to want(to purchase) what the company produces

Marketing
trying to get the company produce what the customer wants

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Selling focuses on the needs of the seller

Marketing on the needs of the buyer

Selling is preoccupied with the sellers need to convert his product into cash. Marketing with the idea of satisfying the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering and finally consuming it.

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The marketing concept rests on four pillars: target market, customer needs, integrated marketing, and profitability.

The selling concept takes an inside-out perspective. It starts with the factory, focuses on existing products, and calls for heavy selling and promoting to produce profitable sales.
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March 12, 2000

The marketing concept takes an outside-in perspective. It starts with a well-defined market, focuses on customer needs, coordinates activities that affect customers, and produces profits by satisfying customers.
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Scope What do we market

Goods Services Events Experiences Personalities Place Organizations Properties Information Ideas and concepts

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Core Concepts of Marketing

Based on : Needs, Wants, Desires / demand

Products, Utility, Value & Satisfaction Exchange, Transactions & Relationships Markets, Marketing & Marketers.

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In order to understand Marketing let us begin with the Marketing Triangle

Customers

Company

Competition

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Who is a Customer ??
CUSTOMER IS . . . . .
Anyone who is in the market looking at a product / service for attention, acquisition, use or consumption that satisfies a want or a need

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