Chapter 1 introduction to marketing present

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Chapter 1 introduction to marketing present

  1. 1. CHAPTER 1 INTRODUCTION TO MARKETING PREPARED BY: MISS NORLINA M. ALI Faculty of Business Management (Marketing) Universiti Teknologi MARA, Segamat norlin846@johor.uitm.edu.my
  2. 2. (1) Definitions of marketing (5) Trends in marketing (4) Marketing process (3) Differences between sales & market orientation (2) Marketing management philosophies INTRODUCTION TO MARKETING INTRODUCTION TO MARKETING Production Concept Selling Concept Marketing Concept Societal Marketing Concept
  3. 3. What is Marketing?
  4. 4. What Is Marketing?What Is Marketing? A Philosophy An Attitude A Perspective A Management Orientation A Set of Activities, including: Products Pricing Promotion Distribution / Place
  5. 5. Definition Of Marketing AMA : 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. Kotler : A social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with others. American Marketing Association Dr. Philip Kotler
  6. 6. Simply put Marketing is the delivery of customer satisfaction at a profit. Goals Attract new customers by promising superior value and keep and grow current customers by delivering satisfaction.
  7. 7. Other Definitions Of Marketing • Marketing consists of the performance of business activities that direct the flow of goods and services from producer to user. (American Marketing Association) • Marketing is the process of planning and executing the conception, pricing, promotion, & distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. (American Marketing Association) • Marketing is that of an individual and organizational activities aimed at facilitating exchanges within a set of dynamic environmental forces. (Pride & Ferrell)
  8. 8. Core Marketing Concepts
  9. 9. What are Consumers’ Needs, Wants, and Demands? NeedsNeeds - state of felt deprivation including physical, social, and individual needs i.e hunger WantsWants - form that a human need takes as shaped by culture and individual personality i.e. bread DemandsDemands - human wants backed by buying power i.e. money
  10. 10. The Organization’s FocusThe Organization’s Focus Create Customer Value Create Customer Value Build Long-Term Relationships Build Long-Term Relationships Maintain Customer Satisfaction Maintain Customer Satisfaction Key Issues inKey Issues in DevelopingDeveloping Competitive AdvantageCompetitive Advantage Key Issues inKey Issues in DevelopingDeveloping Competitive AdvantageCompetitive Advantage
  11. 11. Customer ValueCustomer Value Customer ValueCustomer Value The ratio of benefits to the sacrifice necessary to obtain those benefits
  12. 12. Customer Value RequirementsCustomer Value Requirements  Offer products that perform  Give consumers more than they expect  Avoid unrealistic pricing  Give the buyer facts  Offer organization-wide commitment in service and after-sales support
  13. 13. Customer SatisfactionCustomer Satisfaction The feeling that a product has met or exceeded the customer’s expectations. Customer SatisfactionCustomer Satisfaction
  14. 14. Maintaining Customer SatisfactionMaintaining Customer Satisfaction  Meet or exceed customer’s expectations  Focus on delighting customers  Provide solutions to customer’s problems  Cultivate relationships, NOT one-time transactions
  15. 15. Relationship MarketingRelationship Marketing Relationship MarketingRelationship Marketing The name of a strategy that entails forging long-term partnerships with customers, both individuals and firms.
  16. 16. Relationship MarketingRelationship Marketing RequirementsRequirements forfor BuildingBuilding RelationshipsRelationships RequirementsRequirements forfor BuildingBuilding RelationshipsRelationships Who are your customers What do customers value How do they prefer to interact What do they want to buy
  17. 17. Building Long-Term RelationshipsBuilding Long-Term Relationships  Customer-oriented personnel  Effective training programs  Empowered employees  Teamwork
  18. 18. The Concept of Exchange • Lamb : The idea that people give up something to receive something they would rather have. • Kotler : The act of obtaining a desired object from someone by offering something in return. Necessary Conditions for Exchange Necessary Conditions for Exchange At Least Two PartiesAt Least Two Parties Something of ValueSomething of Value Communication and DeliveryCommunication and Delivery Freedom to Accept or RejectFreedom to Accept or Reject Desire to Deal With Other PartyDesire to Deal With Other Party
  19. 19. Exchange may not take place even if conditions are met; An agreement must be reached; and Marketing occurs even if exchange does not take place.
  20. 20. Marketing Management Philosophies Production Concept Selling Concept Marketing Concept Societal Marketing Concept Focus on internal capabilities of the firm. Focus on aggressive sales techniques and believe that high sales result in high profits Focus on satisfying customer needs and wants while meeting objectives Focus on satisfying customer needs and wants while enhancing individual and societal well-being
  21. 21. The Marketing Concept / OrientationThe Marketing Concept / Orientation The Marketing ConceptThe Marketing Concept The idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives.
  22. 22. The Marketing ConceptThe Marketing Concept  Focusing on customer wants and needs to distinguish products from competition  Integrating all the organization’s activities to satisfy customer wants and needs  Achieving the organization’s long-term goals by satisfying customer wants and needs
  23. 23. Achieving a Marketing Orientation  Obtain information about customers, copetitor and markets  Examine the information from a total business perspective  Determine how to deliver superior customer value  Implement actions to provide value to customer
  24. 24.  Less toxic products  More durable products  Products with reusable or recyclable materials Societal Marketing OrientationSocietal Marketing Orientation Societal Marketing OrientationSocietal Marketing Orientation Marketing that preserves or enhances an individual’s and society’s long-term best interests
  25. 25. Review: Marketing Management Philosophies Production SalesSales MarketingMarketing SocietalSocietal What can we make or do best? How can we sell more aggressively? What do customers want and need? What do customers want and need, and how can we benefit society? Orientation Focus
  26. 26. Sales vs Market Orientation Sales Orientation Market Orientation (1) Organization Focus Inward –fulfill organization’s needs. Outward – fulfill wants and preferences of customers. (2) What type of business organization is in? Selling goods and services. Satisfying customers needs and wants and delivering superior value. (3) To whom the product is directed? Everybody. Specific groups of people. (4) Firm’s primary goal Achieve profit through maximum sales volume. Achieve profit through customer satisfaction. (5) Ways to achieve the goal Through intensive promotion. Through coordinated marketing and inter- functional activities.
  27. 27. Marketing Process • A marketing process include all the marketing’s role and activities in the organization. • The marketing process include the process of:- 1) Analyzing marketing opportunities and developing the organization’s mission and objectives. 2) Selecting target markets. 3) Developing the marketing strategy by developing marketing mix (4 P’s).  Product , Price, Promotion, and Place. 1) Managing the marketing effort.  Include analysis, planning, implementation, and control.  Can be done by SWOT analysis (strengths, weaknesses, opportunities, threats).
  28. 28. Defining a Firm’s Business • Use “customer benefits” instead of “goods/services” • Ensures a customer focus • Encourages innovation and creativity • Stimulates an awareness of changesin customer preference
  29. 29. Why Study Marketing? • Plays an important role in society • Vital to business survival, profits and growth • Offers career opportunities • Affects your life every day
  30. 30. Why Study Marketing? Vital Marketing Activities for Organizations • Assess the wants and satisfaction of customers • Design and manage product offerings • Determine prices and pricing policies • Develop distribution strategies • Communicate with present and potiential customer
  31. 31. Trends in Marketing
  32. 32. T.H.A.N.K Y.O.U F.O.R L.I.S.T.E.N.I.N.G

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