Brief explanation of what marketing.

1. MARKETING
By Dominic Seldon

2. WHAT IS MARKETING?
• Marketing is defined as the activity, set of instructions, and processes for creating,
capturing, communicating, delivering, and exchanging offers that have value for
customers, clients, partners, and society at large.

3. CORE ASPECTS OF MARKETING
• Marketing is about satisfying customer needs and wants
• Marketing entails an exchange
• Marketing creates value through product, price, place, and promotion decisions
• Marketing can be performed by individuals and organizations
• Marketing affects various stakeholders

4. MARKETING IS ABOUT SATISFYING
CUSTOMER NEEDS AND WANTS
• Fundamental to marketing SUCCESS
• Understanding the marketplace
• Marketplace refers to the world of trade
• Marketplace can be segmented or divided into group
• Find out what segments are most relevant, and target those in a marketing strategy

5. MARKETING ENTAILS AN EXCHANGE
• Exchange is defined as the trade of things of value between the buyer and the seller
that each is better off as a result.
1. Sellers provide products
2. Sellers communicate and facilitate the delivery to the customers
3. Buyers complete the exchange by giving money and information to seller

6. MARKETING CREATES VALUE THROUGH
PRODUCT, PRICE, PLACE, AND
PROMOTION DECISIONS
• Marketing mix is a set of four interrelated decisions and consequent actions
• It is also known as four P’s: product, price, place, and promotion
• These P’s are decisions a firm uses to respond to the wants of the target market.

7. 1ST P
PRODUCT: CREATING VALUE
• Develop goods, services, and ideas
• Goods- items that you can physically touch
• Value example– convenience of product ( 20oz pop), status (Rolex vs Timex), and performance (
innovative technology)
• Services– intangible customer benefits that are produced by people or machines and cannot
be separated from the producer
• Value example- Hotels, insurance companies, and spas
• Ideas- thoughts, opinions, and philosophies
• Value example- informative safety presentation

8. 2ND P:
PRICE: CAPTURING VALUE
• Price:
• Everything the buyer gives up in exchange for the product
• Determined by potential buyer’s belief of value

9. 3RD P:
PLACE: DELIVERING THE VALUE
PROPOSITION
• Place- all the activities to get the product to the right customer when customer
wants it.
• Examples- expanded store fronts, kiosks, small booths
Supply Chain Management- approaches and techniques that firms employ to
efficiently and effectively all other firms involved in transaction into a value chain
• Lack of strong and efficient supply chain merchandise isn’t available which means
unhappy customers

10. 4TH P:
PROMOTION: COMMUNICATING THE
VALUE PROPSITION
• Communication by a marketer that informs, persuades, and reminds potential
buyers about a product or service to influence their opinions and elicit a response.
• Lack of communication will hurt any product

11. MARKETING CAN BE PERFORMED BY
INDIVIDUALS AND ORGANIZATIONS
• Different market processes to obtain goods:
• Business-to-consumer (B2C)- business sell to consumers
• Business-to-business (B2B)- selling merchandise or services from one business to
another
• Consumer-to-consumer (C2C)- consumers sell to consumers
• Individuals can market themselves
• Example- accountants, lawyers, and physicians

12. MARKETING AFFECTS VARIOUS
STAKEHOLDERS
• The way a product is marketed can have an affect on all parties involved.
• All stakeholders are involved in marketing to one another.
• Stakeholders come to agreements with each other to make the product hold the
most value

13. QUESTIONS?

14. THANK YOU