This document provides an overview of marketing concepts. It defines marketing as a social process of satisfying needs and wants through voluntary exchange. The key goals of marketing are to understand consumer needs and provide satisfaction while achieving organizational objectives like profit. The document also outlines the main functions of marketing like product development, pricing, distribution and promotion. It discusses different approaches to marketing such as the marketing mix, concepts of traditional marketing and the process of marketing management.

1. Chapter 1
Introduction to Marketing
Prepared & Presented by
Ms. Himani R.

2. Layout of the presentation
• Meaning
• Definition
• Goals
• Concepts of marketing
• Approaches to marketing
• Functions of marketing
2Prepared by: Ms. Himani R.

3. • ‘Marcatus’ meaning merchandise, trade or
the place where business is conducted.
• Markets are people with money to spend
and the desire to spend it.” – Duddy &
Reizan
• A market consist of all the existing and
potential consumers sharing a particular
need or want who might be willing and
able to engage in exchange to satisfy that
need or want.
What is a Market?
3Prepared by: Ms. Himani R.

4. • Goods
• Services
• Places
• Experiences
• Events
• Persons
• Properties
• Information
• Organizations
• Ideas
What is marketed? 4Prepared by: Ms. Himani R.

5. • Marketing deals with identifying and meeting
human and social needs.
• ‘Marketing is a social process by which
individuals and groups obtain what they need
and want through creating and exchanging
products and values with others’.
• 3 elements define marketing:
– 2 or more parties who are potentially interested in
exchange
– Each possess, things of value to the other
– Each capable of communication & delivery
Meaning of Marketing
5Prepared by: Ms. Himani R.

6. • “The set of human activities directed at
facilitating and consuming exchanges”.
– Philip Kotler
• It is a human activity directed at satisfying
needs and wants through exchange
processes.
• “Marketing is concerned with people & the
activities involved in the flow of goods &
services from producers to consumers.
- AMA
Definition of Marketing
6Prepared by: Ms. Himani R.

7. • ‘Marketing is a social process by which
individuals and groups obtain what they need
and want through creating and exchanging
products and values with others’. This
definition rests on the following concepts:
– (i) Needs, wants and demands;
– (ii) Products;
– (iii) Value and satisfaction;
– (iv) Exchange
– (v) Markets.
Concepts of Marketing
7Prepared by: Ms. Himani R.

8. Marketing
Mix
8Prepared by: Ms. Himani R.

9. 1. Marketing process brings goods and services to
satisfy the needs and wants of the people.
2. It helps to bring new varieties & quality goods to
consumers.
3. By making goods available at all places, it brings
equal distribution.
4. Marketing converts latent demand into effective
demand.
5. It gives wide employment opportunities.
6. It creates time, place & possession utilities.
IMPORTANCE OF
MARKETING 9Prepared by: Ms. Himani R.

10. 7. Efficient marketing results in lower cost of
marketing and ultimately lower prices to
consumers.
8. It is vital link between production and
consumption and primarily responsible to
keep the wheel of production and
consumption constantly moving.
9. It creates to keep the standard of living of
the society.
Continued 10Prepared by: Ms. Himani R.

11. • Consumer Orientation: The determination of what is to be
produced should not be in the hands of the firms but in the hands
of the consumers. The firms should produce what consumers
want.
• Integrated Marketing: Marketing can never be an isolated
management function. Every activity on the marketing side will
have some bearing on the other functional areas of management
such as production, personnel or finance.
• Consumer Satisfaction: The marketing concept emphasizes that
it is not enough if a firm ahs consumer orientation; it is essential
that such an orientation leads to consumer satisfaction.
• Realization of Organizational Goals including Profit: If a firm has
succeeded in generating consumer satisfaction, is implies that
the firm has given a quality product, offered competitive price and
prompt service and has succeeded in creating good image.
Goals of Marketing
11Prepared by: Ms. Himani R.

12. • Philip Kotler defines marketing
management as the “analysis, planning,
implementation and control of
programmes designed to create, build and
maintain mutually beneficial exchanges
with target markets to achieve
organizational goals.
Marketing Management
12Prepared by: Ms. Himani R.

13. • There are five distinct concepts under
which business organizations can conduct
their marketing activity.
– Production Concept(widely available/low cost)
– Product Concept (quality & performance)
– Selling Concept (aggressive ads)
– Marketing Concept (satisfying customers)
– Societal Marketing Concept (consumer’s &
society’s well being)
CONCEPTS OF
TRADITIONAL MARKETING
13Prepared by: Ms. Himani R.

14. • Setting of marketing goals & objectives
• Developing marketing plan
• Organizing the marketing function
• Putting the plan into action
• Controlling the programme
Process of MM 14Prepared by: Ms. Himani R.

15. Difference 15Prepared by: Ms. Himani R.

16. Scope of Marketing 16Prepared by: Ms. Himani R.

17. Functions of
Marketing 17Prepared by: Ms. Himani R.

18. • Commodity approach
• Institutional approach
• Functional approach
• Systems approach
• Decision making or management
approach
Approaches to
Marketing 18Prepared by: Ms. Himani R.

19. 19Prepared by: Ms. Himani R.