Basics of Marketing; Functions, Orientations & Marketing Management Tasks

1. WHAT IS MARKETING?

2. WHAT IS MARKETING?
Marketing is an organizational function and a set
of processes for creating, communicating, and
delivering value to customers, and for managing
customer relationships in ways that benefit the
organization and its stakeholders.

3. SELLING IS ONLY TIP OF THE ICEBERG
“There will always be a need for
some selling. But the aim of marketing
is to make selling superfluous. The aim
of marketing is to know and understand
the customer so well that the product or
service fits him and sells itself. Ideally,
marketing should result in a customer
who is ready to buy. All that should be
needed is to make the product or
service available.”
Peter Drucker

4. WHAT IS MARKETED?

5. Goods
Services
Countries
People
Organizations
Events

6. MARKETING IS DEMAND
MANAGEMENT

7. SELLING AT A PROFIT

8. IDENTIFYING CONSUMER NEED –
TANGIBLE & INTANGIBLE
FULFILLING THESE NEEDS THROUGH
PRODUCTS/SERVICES,
IN AN EXCHANGE PROCESS

9. WHY MARKETING?
 What were the two of the most important parts of a
successful business??
 Without marketing, not much would get sold.
 Consumers wouldn’t know what goods/services are
available.
 They wouldn’t know about new trends or fashions, or
how products have improved.
 Marketing is important to all business – it often
means the difference between success and failure.
 Marketing ensure that businesses actually sell the
goods and services they offer.

10. SCOPE OF MARKETING
Everything is Marketing & Marketing is
Everything

11. BUT
… to be a little more specific

12. SCOPE OF MARKETING?
 All the activities involved in getting goods and services from the
business that produces them to the consumers who wish to purchase.
 Includes:
1. Marketing Information Management (MIM) [Research]
2. Selling
3. Distribution
4. Product/Service Management
5. Promotion
6. Pricing
7. Financing

13. THE 7 FUNCTIONS OF
MARKETING

14. THE SEVEN FUNCTIONS OF MARKETING
Marketing Information Management (MIM)
Selling
Distribution
Product/Service Management
Promotion
Pricing
Financing

15. MARKETING-INFORMATION
MANAGEMENT (MIM)
Obtaining information needed to
make sound business decisions.
Example: Taste tests and surveys.

16. SELLING
Determining consumer’s wants and
needs through planned, personalized
communication
(face to face, phone, internet)

17. DISTRIBUTION
Transporting (physical distribution),
storing (warehousing .vs. distribution
centers), and handling of goods and
services (inventory control methods,
logistics) for businesses.

18. PRODUCT/SERVICE MANAGEMENT
The process of developing, improving,
obtaining, and maintaining the
products/services of the business to meet
consumer demand.

19. PROMOTION
Informing, persuading, or reminding
potential consumers about a
business’s products/services.

20. PRICING
Establishing and communicating the
values of products/services to
potential consumers and determining
profit for the business.

21. FINANCING
Acquiring the money
for starting and running a business.
Business loans for
upstart money, cash flow issues, or new
business ventures.

22. MARKETING MANAGEMENT ORIENTATIONS
 Production concept
 Product concept
 Selling concept
 Marketing concept
 Societal marketing concept

23. SUMMARY OF MARKETING ORIENTATIONS
Orientation Focus is on…
Production Production and distribution efficiency
Product Most quality product
Sales Product sales
Market Consumers’ needs and wants
Societal In addition to consumers’ needs and wants, also consider
benefits to the society

24. SELLING VS MARKETING ORIENTATION
Production
concept
Product
Concept
Selling
concept
Marketing
Concept
Societal
Marketing
Concept

25. WHAT IS MARKETING MANAGEMENT?
Marketing management is the
art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.

26. MARKETING MANAGEMENT TASKS
 Developing
marketing strategies
 Capturing marketing
insights
 Connecting with
customers
 Building strong
brands
 Shaping market
offerings
 Delivering value
 Communicating
value
 Creating long-term
growth