MARKETING IS VERY EASY TO TEACH AND

UNDERSTAND, BUT VERY DIFFICULT TO

PRACTICE

Philop Kotler
DEFINITIONS
“Marketing is engaging customers and managing profitable customer
relationships.” —Philip Kotler 16 Ed

“Marketing is managing profitable customer relationships.” —Philip Kotler

15 Ed

“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.” — American Association
of Marketing

“Marketing is everything.” — Regis McKenna

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
TODAY’S MARKETING?
Today, marketing must be understood not in
the old sense of making a sale

According to management guru Peter

Drucker, “The aim of marketing is to make
selling unnecessary.”
 MARKETING MANAGEMENT

“The art and science of choosing target

markets and getting, keeping, and
growing customers through creating,
delivering, and communicating superior
customer value”
MARKETING PROCESS

The process by which companies create value for

customers and build strong customer relationships
in order to capture value from customers in return.

Core Concepts
 (1) needs, wants, and demands
 (2) market offerings (products, services, and experiences)
 (3) value and satisfaction
 (4) exchanges and relationships
 (5) markets
WHAT MOTIVATES A CONSUMER
TO TAKE ACTION?
Needs - state of felt deprivation for basic items such as food,
clothing, shelter etc. i.e. I need a phone to get connected

Wants - form that a human need takes as shaped by culture

and individual personality. i.e. I want an IPhone 7

“if we always manage to satisfy our wants, it transforms into

a need.”

Demands - human wants backed by buying power. i.e. I have

money to buy a QMobile .
“People demand products & services
with benefits that add up to the most
value & satisfaction” – Kotler &
Armstrong
Evolution of Marketing
 Marketing Concepts

Create, deliver,
and
Quality communicate
Innovation value

Production Product Selling Marketing Social Holistic

Mass Unsought
production goods
Mass Overcapacity
distribution
MARKETING CONCEPT
A philosophy in which achieving organizational goals depends on
knowing the needs and wants of target markets and delivering the
desired satisfactions better than competitors do.
TARGET MARKETS, POSITIONING &
SEGMENTATIONS
“Not everyone likes same cereal, restaurant, collage or movie”

Market Segmentation
Target Markets
Brand`s Positioning
 OFFERINGS & BRANDS

Marketing offerings is a combination of products, services, information,

or experiences offered to a market to satisfy a need or want.

Brand: “A name, term, design, symbol, or any other feature that

identifies one seller’s good or service as distinct from those of
other sellers. The legal term for brand is trademark. A brand
may identify one item, a family of items, or all items of that
seller. If used for the firm as a whole, the preferred term is trade
name.” - AMA
MARKETING OFFERINGS
• Products - • Services - • Experiences Smart
anything that can activities or marketers look
be offered to a benefits offered beyond the attributes
market for for sale that are of the products and
attention, essentially services they sell.
acquisition, use or intangible and By combing several
consumption and don’t result in the services and
that might satisfy a ownership of products, they create
need or want. anything. brand experiences
for consumers.
• Examples: • Examples:
Beverages, banking, airlines, • Example: Hotels,
telephones, hair salon etc. Theme Parks
Clothes
Places – Properties – Organizations – Information – Ideas –
Events – Persons
MARKETING OFFERINGS
“Promoting powerful ideas that encourage
socially desirable behavior and action is
part of social marketing”
MARKETING OFFERINGS
CUSTOMER VALUE & SATISFACTION
Customer Value - benefit that the customer gains from owning and
using a product or service compared to the cost of obtaining the
product.

Customer Satisfaction - depends on the product’s or service’s

perceived performance in delivering value relative to a buyer’s
expectations
SOCIAL MARKETING CONCEPT
The idea that a company’s marketing decisions should consider
consumers’ wants, the company’s requirements, consumers long run
interest and societies long run interest
HOLISTIC MARKETING CONCEPT
The Holistic Marketing Concept is based on the development, design &
implementation of marketing programs, processes and activities that
recognize their breadth & interdependencies.
Holistic Marketing recognizes that “everything matters” in marketing
and that a broad, integrated perspective is often necessary.
Holistic Marketing has four kinds of marketing under its
umbrella;

Relationship Marketing
Integrated Marketing
Internal Marketing
Performance Marketing
MARKETING MIX 4 PS
MODERN P’s OF MARKETING
MANAGEMENT
People
Processes
Physical Evidence
MARKETING MANAGEMENT TASKS

Developing market strategies and plans

Capturing marketing insights
Connecting with customers
Building strong brands
Shaping market offerings
Delivering value
Communicating value
Creating long-term growth