Introduction to Marketing

Evolution of Marketing Thought

Dani Román
"After the amazing feeling of my first jump I just wanted more and
more"
Why there is need to study marketing
Why there is need to study marketing
• Marketing is a humanistic subject
• The marketing process holds a central place in human lives which covers
a number of typical human activities
• buying groceries
• window shopping
• selecting a restaurant
• using services
• comparing brands
• seeking for advice about selection and consumption of product
• sharing purchase experience to others
• deciding where and when to shop
• and so on
Why there is need to study marketing
• Marketing is a humanistic subject
• affected life styles
• created life styles

• Marketing is a force that shapes our need, wants and life styles
What is marketing?
• Marketing is a process by which companies create value for
customers and build strong customer relationships in order to
capture value from customers in return.

• The twofold goal of marketing is to:

• attract new customers by promising superior value

• grow current customers by delivering satisfaction
Definition of marketing

The process by which companies engage customers, build strong

customer relationships, and create customer value in order to capture
value from customers in return.
Familiarity with marketing
• Products at your nearby shopping mall
• Ads that fill your TV screen and
magazines, or stuff your mailbox
• Imaginative web sites and mobile phone
apps
• blogs, online videos, and social media
The Marketing Process
Understanding the marketplace and customer
Needs

Needs • States of deprivation

Wants • Form that needs take

Demands • Wants backed by buying power

Understanding the marketplace and customer
Needs
Market offerings - combination of products,
services, information, or experiences
offered to a market to satisfy a need or
want.
Examples: clothes, cars, home appliances,
banking, airline, hotel, retailing, and home
repair services
Marketing myopia -the mistake of paying
more attention to the specific products a
company offers than to the benefits and
experiences produced by these products.
Sapphire, launched its concept Two destination stores Stoneage flagship store by
store at the Emporium Mall in located at picturesque sites Fatima Babar, Lahore
Lahore in Jhelum and Khanewal
Understanding the marketplace and customer
Needs
Customer Value and Satisfaction - Customers form expectations about
the value and satisfaction that various market offerings will deliver and
buy accordingly. Customers

**customer-perceived value • Value and

satisfaction

Marketers
• Set the right level of
Exchange and relationships expectations

Exchange - the act of obtaining a desired object from someone by

offering something in return.
** Conditions of exchange
1. There must be at least two parties.
2. Each must have something that might be of value to the other.
3. Each can communicate and deliver what they are offering.
4. Each is free to accept or reject what is on offer
Understanding the marketplace and customer
Needs
• Market The set of all actual and potential buyers of a product or
service
Thank you