This is an introduction to marketing, one in the marketing management course slides

1. Meaning of Marketing
By
Oloba
+256-785-552288
jooloba@livingstone.ac.ug
arketingManagement

2. Slide outline
 Definition of marketing
 Basics of marketing
 Marketing as a function

3. Corporate success

4. What is Marketing?
Marketing is everyone’s business. Every person working for an
organisation should understand the importance of marketing.
 Definitions:
“ Marketing is the management process responsible for identifying,
anticipating and satisfying consumer requirements profitably”
– CIM
“Marketing is the process of planning and executing the conception,
pricing, promotion and distribution of ideas, goods and services
to create exchange and satisfy individual and organisational needs.”
 AMA

5. Why It’s Important
Effective marketing puts the
products in the hands of its
targeted customers.

6. A market is a group of customers who
share common wants and needs, and
who have the ability to purchase a
particular product.
Basics of Marketing

7. Basics of Marketing
Marketing is the process of creating,
promoting, and presenting a product to meet
the wants and needs of consumers.

8. One fundamental question:
Is Marketing creating or satisfying needs?

9. Key Words
• market
• marketing
• marketing concept
• target marketing
• relationship marketing
• marketing mix
• break-even point

10. • market research
• demographics
• channel of distribution
• direct distribution
• indirect distribution
• wholesaler
• retailer
Key Words

11. Marketing as an Organisational Function
• The diagram below shows the many functions that can be carried out in
organisations which, dependant on the organisation, can be classified as
operational functions of marketing.
The operational
functions of marketing
Advertising P.R.
Selling
Financing
Buying
Forecasting
Pricing
PublicityMerchandisingMarket ResearchTransporting
Risk Taking
Servicing
Stockholding
Display
CRM Sales Promotion

12. Marketing as A Management Function
• Here the role of marketing is ensuring that the operational
activities of the organisation (not just marketing) are clearly
directed towards the principal objective of meeting the needs of
the customers effectively.
• It involves analysing customers and anticipating their needs,
planning, resource allocations, control and investment in terms of
money, appropriate skilled people and physical resources to
ensure both customer and organisational needs are met to
each’s satisfaction.

13. Marketing as a Business Concept
 Marketing as a Business Concept – in this regard marketing is
the study of exchange processes especially those associated
with the provision of goods and services.
 It takes its lead from the social sciences in that, the basic tenant
of society is that we all need each other.
 The idea here is, if I’ve got something you want and you’ve got
something I want, then we do a deal (which is the exchange
process)

14. CustomerSupplier
Something of value
Goods, services, benefits
Something of value
Money, exchange of goods
The Exchange Process
Marketing as a Business Concept

15. Exchange Transactions
Consumers Costs & Benefits Organisations
Customer
Cash
Quench
thirst
Pepsi
Patient
Insurance
premiums
Medical
treatment
Private Hospital
Student
Fees
Education
University

16. Consumers Costs & Benefits Organisations
Volunteer
Time
Sense of
community
service Non-profit youth group
Voter
Vote
Sense of economic/social
progress continued
employment etc Politic Party
Reader
Lone parent
Taxes Public Library, Benefit agency
Exchange Transactions

17. Marketing as a Business Philosophy
• Simply a way (i.e. orientation) towards how the business will behave.
• As a philosophy it recognises the importance of the customer and that
all business exists to serve customers rather than manufacturing
products.
• To quote Adam Smith C A in his famous text ‘ The wealth of
“Consumption is the sole purpose of production and the interests of the product
ought to be attended o only so far as it may be necessary for promoting those of
the customer”

19. God bless you!