2. Definitions of marketing
‘Marketing is the management process that
identifies, anticipates and satisfies customer
requirements profitably’
The Chartered Institute of Marketing
3. What is Marketing?
• Social definition
A societal process by which individuals
and groups obtain what they need and want
through creating, offering and freely
exchanging products and services of value
with others
4. What is Marketing?
• Management definition
It is the process of planning and executing
the conception, pricing, promotion and
distribution of ideas, goods and services to
create exchanges that satisfy individual
and organizational goals.
5. ‘Marketing is the human activity
directed at satisfying human needs
and wants through an exchange
process’
Kotler 1980
6. ‘The right product, in the right
place, at the right time, and at the
right price’
Adcock et al
7. ‘Marketing is a social and
managerial process by which
individuals and groups obtain
what they want and need through
creating, offering and exchanging
products of value with others’
Kotler 1991
8. Competition
• Potential and rival substitutes and offerings
a buyer might consider.
• Competition can be viewed in various
perspectives – brand, industry, form,
generic
10. Marketing Mix
• It is the tools that an organization employs
to pursue its marketing objectives in the
target market
• Product, Price, Place, Promotion
• 4 C’s – Customer solution, Cost,
Convenience, Communication
11. Needs and Wants
• Needs are basic human requirements
• Wants are needs directed to specific
objects/services that might satisfy the need
12. Product
• A product is any offering catered to satisfy
needs and wants.
• A brand is when the product is from a
known source.
13. Demand
• This is the wants for specific products
backed by an ability to pay.
14. Implications of marketing
• Who are our existing / potential customers?
• What are their current / future needs?
• How can we satisfy these needs?
• Can we offer a product/ service that the customer
would value?
• Can we communicate with our customers?
• Can we deliver a competitive product of service?
• Why should customers buy from us?
15. The marketing concept
• choosing and targeting appropriate
customers
• positioning your offering
• interacting with those customers
• controlling the marketing effort
• continuity of performance
16. Competition
• Potential and rival substitutes and offerings
a buyer might consider.
• Competition can be viewed in various
perspectives – brand, industry, form,
generic
18. Marketing Mix
• It is the tools that an organization employs
to pursue its marketing objectives in the
target market
• Product, Price, Place, Promotion
• 4 C’s – Customer solution, Cost,
Convenience, Communication
20. Marketing management process
• Analysis/Audit - where are we now?
• Objectives - where do we want to be?
• Strategies - which way is best?
• Tactics - how do we get there?
• (Implementation - Getting there!)
• Control - Ensuring arrival
21. Why is marketing planning
necessary?
• Systematic futuristic thinking by
management
• better co-ordination of a company’s efforts
• development of performance standards for
control
• sharpening of objectives and policies
• better prepare for sudden developments
