BRAC University

BRAC Business School

EMBA Program

Welcome

Marketing Principles and Practices (MKT 701)

Week 1

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Part 1 (15-20 min.)
Lecturer’s intro
Course objectives
Learning resources
Assessment/ Evaluation
Lecturer’s teaching philosophy

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Your Lecturer’s Intro…..
Dr. Md. Faridul Islam
Professor, Dept. of Marketing, RU
Preferred name : Farid
Contact detail :
Email : mfislam2001@yahoo.com
Mobile : 01711-176148

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 Course objectives
On successful completion of this course students can:

Develop an understanding of the roles of marketing in

organisations, economies, and societies

Explain the environmental forces affecting marketing practices

Design marketing research methods and information needs

Appreciate and practise behavioural and strategic positioning

theories and models

Explore and formulate marketing mix and social and digital media
strategies 4
Learning Resources………….

Essential text:

Principles of Marketing
By
Philip Kotler & Gary Armstrong

Other Materials- such as cases, quiz, discussion

topics will be supplied by the lecturer in due course.

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Assessments………..
Modes Weight

Class Attendance 5%
Class Quiz (Individual) 5%
Case Study (Group) 5%
Term Paper (Group) 15%
Midterm examination 30%
Final examination 40%
Total 100%

However, this may be changed. We will have to

comply with the UGC and BU policies regarding
the exams in future.
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Part 2 (15-20 min.)
What is marketing?
Key marketing terminologies.

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What is Marketing?

PPTs to accompany Contemporary Management 2e by Waddell, Jones & George

© 2011 McGraw-Hill Australia Pty Ltd 1-8
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What is Marketing ?

Old sense: making a sale – “telling and selling”

New sense: satisfying customer needs

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Marketing Defined

A social and managerial process whereby individuals

and groups obtain what they need and want through

creating and exchanging products and value with
others.

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Core marketing concepts

Needs, Wants,
and Demands

Markets Core Products and

Marketing Services
Concepts

Exchange, Value,
Transactions, Satisfaction,
and relationships

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Needs, Wants and Demands

Needs States of felt deprivation.

Needs

Wands The form taken by human needs as

Wands
They are shaped by culture and individual
personality.
Demands
Demands
 Human wants that are backed by
buying power .

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Product and Service

Product

 Anything that can be offered to a market for

attention, acquisition, use, or consumption that
might satisfy a want or need.
Service

 Any activity or benefit that one party can

offer to another that is essentially intangible and
does not result in the ownership of anything.

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Value, Satisfaction

Customer value

The difference between the values the customer gains

from owning and using a product and the cost of
obtaining the product.

Customer satisfaction

The extent to which a product’s perceived performance

matches a buyer’s expectations.

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Exchange, Transaction and Relationships

Exchange

The act of obtaining a desired object from someone by offering

something in return.

Transactions

A trade between tow parties that involves at least tow things of

agreement, and a place of agreement.
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Relationship marketing
The process of creating, maintaining, and
enhancing strong, value-laden relationships with
customers and other stakeholders.

Market
The set of all actual and potential buyers of a
product or service.

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Part 3 (15-20 min.)
A simple marketing system
Main actors and forces in a modern
marketing system
Marketing management philosophies

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A simple marketing system

Communication

Industry Products-service
Products-service Market
(a collection (a collection
of sellers) Money
Money of buyers)

Information

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Main actors and forces in a modern
marketing system

Company
(marketer)

Marketing End user

Suppliers
intermediaries market

Competitors

Environment

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Marketing management philosophies

Production concept

Product concept

Selling concept

Marketing concept

Social marketing concept

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1. Production Concept
 The philosophy that:

 Consumers will favour products that are available and

highly affordable

 Management should therefore focus on improving

production and distribution efficiency.

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Product Concept

 The philosophy that:

 Consumers will favour products that offer the most quality,

performance, and innovative features.
 Marketers should emphasize on improving product quality,
performance and features.

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Selling Concept
 The idea that:

 Consumers will not buy enough of the organization’s

products unless the organization undertakes a large – scale
selling and promotion effort.

 Marketing managers’ task are to undertake effective

selling & promotional efforts.

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4. Marketing Concept
 The marketing management philosophy that:

 Achieving organizational goals depends on determining the

needs and wants of target markets.

 Delivering the desired satisfactions more effectively and

efficiently than competitors do.

 Marketing managers’ tasks are to identify the needs and wants

of target customers & satisfy that needs more efficiently.

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5. Societal Marketing Concept

 The idea that:

 The organization should determine the needs, wants, and

interests of target markets and deliver the desired
satisfactions more effectively and efficiently than competitors
in a way that maintains or improves the consumer’s needs
and society’s well – being.

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 Part 4 (15-20 min.)
The selling and Marketing Concepts Contrasted
Considerations Underlying The Societal Marketing
Marketing challenges into the new century
The new marketing landscape

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The selling and Marketing Concepts Contrasted

Starting
Focus Means Ends
point

Selling
Factory Existing and
Profits through
products sales volume
promoting

The selling concept

Profits through
Market Customer Integrated customer
needs marketing
satisfaction

The societal marketing

concept

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Three Considerations Underlying The Societal Marketing

Society
(Human welfare)

Societal
marketing
concept

Consumers Company
(Want satisfaction) (Profits)

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 Marketing challenges into the new century

COVID-19

Growth of non-profit marketing

The information technology boom

Rapid globalization

The changing world economy

The call for more ethics and social responsibility

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 The new marketing landscape

Domestic companies can no longer ignore global

markets and competitors.

Successful firms cannot overlook:
emerging markets, technologies, and management
approaches.
the needs of customers and their environment.

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 Any Question??

Thank you very much!!!!