Marketing Introduction


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Marketing Introduction

  1. 1. Marketing in the Twenty-first Century
  2. 2. Objectives <ul><li>Tasks of Marketing </li></ul><ul><li>Major Concepts & Tools of Marketing </li></ul><ul><li>Marketplace Orientations </li></ul><ul><li>Marketing’s Responses to New Challenges </li></ul>
  3. 3. Management Goals <ul><li>Understand Marketing Management </li></ul><ul><li>Analyze Marketing Opportunities </li></ul><ul><li>Develop Marketing Strategies </li></ul><ul><li>Shape the Market Offer </li></ul><ul><li>Manage& Deliver Marketing Programs </li></ul>
  4. 4. Defining Marketing <ul><li>Marketing is 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. </li></ul>
  5. 5. What is Marketing? Simply put: Marketing is the delivery of customer satisfaction at a profit.
  6. 6. Need, Exchange, Buyers People Who Exhibit Need Resources to Exchange Willingness to Exchange Unexpected Situational Factors Attitudes of Others Ethical Potential Buyers Market – Buyers who share a particular need or want that can be satisfied through exchange or relationships . Actual Buyers
  7. 7. Core Concepts of Marketing Product or Offering Value and Satisfaction Needs, Wants, and Demands Exchange and Transactions Relationships and Networks Target Markets & Segmentation Marketing Channels Supply Chain Competition Marketing Environment
  8. 8. Exchanges Transactions Relationships Building a Marketing Network Consisting of The Company and All Its Supporting Stakeholders How Do Consumers Obtain Products and Services?
  9. 9. Simple Marketing System Goods/services Money Industry (a collection of sellers) Market (a collection of Buyers) Communication Information
  10. 10. Structure of Flows Manufacturer markets Services, money Government markets Services, money Services Services, money Taxes Taxes, goods Taxes, goods Taxes, goods Money Money Consumer markets Intermediary markets Goods, services Goods, services Resources Resources Resource markets Money Money
  11. 11. The Four Ps Marketing Mix The Four Cs Customer Solution Customer Cost Communication Conven- ience Product Price Promotion Place
  12. 12. Company Orientations Towards the Marketplace Production Concept Product Concept Selling Concept Marketing Concept Consumers prefer products that are widely available and inexpensive <ul><li>Consumers favor products that </li></ul><ul><li>offer the most quality, performance, </li></ul><ul><li>or innovative features </li></ul>Consumers will buy products only if the company aggressively promotes/sells these products Focuses on needs/ wants of target markets & delivering value better than competitors
  13. 13. Customer Delivered Value Market Integrated marketing Profits through customer satisfaction Customer needs (b) The marketing concept Factory Existing products Selling and promotion Profits through sales volume Starting point Focus Means Ends (a) The selling concept
  14. 14. <ul><li>Needs - state of felt deprivation for basic items such as food and clothing and complex needs such as for belonging. i.e. I am hungry. </li></ul><ul><li>Wants - form that a human need takes as shaped by culture and individual personality. i.e. I want a hamburger, French fries, and a soft drink. </li></ul><ul><li>Demands - human wants backed by buying power. i.e. I have money to buy this meal. </li></ul>What are Consumer’s Needs, Wants and Demands?
  15. 15. Societal Marketing Concept Societal Marketing Concept Company (Profits) Consumers (Want Satisfaction) Society (Human Welfare)
  16. 16. Traditional Organization Chart Customers Front-line people Middle Management Top Management
  17. 17. Customer-Oriented Organization Chart Customers Front-line people Middle management Top manage- ment Customers Customers
  18. 18. Evolving Views of Marketing’s Role a. Marketing as an equal function Finance Production Marketing Human resources b. Marketing as a more important function Finance Human resources Marketing Production
  19. 19. Evolving Views of Marketing’s Role c. Marketing as the major function Marketing Finance Human resources Production d. The customer as the controlling factor Customer Human resources Finance Production Marketing
  20. 20. Evolving Views of Marketing’s Role The customer as the controlling function and marketing as the integrative function Customer Marketing Production Human resources Finance
  21. 21. Review <ul><li>Tasks of Marketing </li></ul><ul><li>Major Concepts & Tools of Marketing </li></ul><ul><li>Marketplace Orientations </li></ul><ul><li>Marketing’s Responses to New Challenges </li></ul>