Marketing involves identifying customer needs and delivering value through products and services. It is not just advertising but rather encompasses all business activities aimed at creating and facilitating exchanges that satisfy customer demand. The goal of marketing is to establish long-term, mutually beneficial relationships between buyers and sellers through understanding demand and supply forces. Modern marketing focuses on building customer loyalty by prioritizing their needs and experiences over the long-term through relationship-oriented strategies rather than just short-term transactions.
2. an opening challenge
You tell friends who are studying sciences
that you are doing a marketing course. One
says, ‘You’re studying advertising, what
fun.’
Is he right – is marketing just another name
for advertising?
3. agenda
• marketing defined
• origins of marketing
• demand and supply theory
• the concept of exchanges
– types of exchange
• strategic orientations
• customers or consumers?
• modern marketing
4. marketing definitions
‘The management process which
identifies, anticipates and satisfies
customer requirements efficiently
and profitably.’ (The Chartered
Institute of Marketing, n.d.)
5. marketing definitions 2
‘Marketing is the activity, set of
institutions, and processes for creating,
communicating, delivering, and
exchanging offerings that have value for
customers, clients, partners, and society
at large.’ (The American Marketing
Association, 2007)
6. what is a market?
a place where buyers and sellers meet
photo courtesy of Dave Pickton
8. market research and analysis
where and who we are now
• market research
• competitive research
– what is our position in the market?
• organisation research
– what are we good at?
– what are we bad at?
• what worked well in the past?
• are we risk takers?
9. marketing objectives
where and who we want to be
• aims
• targets
–e.g. market share, sales, brand image, brand
awareness, number of sales outlets, new
product launches, customer satisfaction
levels, etc.
10. marketing tasks
how we are going to make it
happen
• planning
• staffing
• budgets
• promotion
• sales
• pricing
• distribution
• product management
• branding
• market entry
• customer service
• customer management
11. feedback and control
how we will keep track of things
• objectives
• customer feedback
• checklists and deadlines
• market position
13. market classifications
market typical purchase descriptions
consumer personal purchases
industrial things used to make other products
b2b things used in the course of another business
not for profit
purchases made by charities, trades unions,
associations, etc.
government
purchases by central and local government, health
services, schools, libraries, armed forces, police, etc.
reseller goods to be sold on
overseas all the above categories – but in other countries
internal other divisions, subsidiaries or employees
14. the theory of demand and
supply
price
quantity demanded, i.e. sales volume
supply
of goods
demand
for goods
19. strategic orientations
orientation focuses on typical objectives
production production efficiency
higher profits through reduced
costs
product
product quality and
features
increased sales through
product improvements
sales
sales techniques and
advertising
sales volume – often short term
customer customers’ needs
increased long-term sales
through customer loyalty,
positive image
market
customers’ needs and
competitors’ strategies
long-term profits through good
customer relations and a
sustainable competitive
advantage
20. market orientation
• focus on customers and competitors
• coordination of all business functions
– marketing, HR, finance, operations, R&D
• taking marketing research seriously
• long-term view of markets and products
21. focus on customers
• ‘the customer is king’
• importance of customer service
• employee priorities
• customer or consumer?
– how influential are consumers?
– depends on purchase type and occasion
22. advantages of a market
orientation
• better understanding of customer needs
• better customer relations
• a better reputation in the marketplace
• more new customers
• more repeat purchases
• improved customer loyalty
• more motivated staff
• competitive edge
26. marketing today and tomorrow
• digital technologies
• social change
• social networking media
• communications overload
• marketing metrics
• lifestyle branding
• consumerism
• eco-consumers
27. summary
• what marketing is, and is not
– definitions and scope
• exchanges of value
• importance of long-term relationships
• demand and supply theory
• strategic orientations
– the importance of a customer focus
• the fast-changing world of marketing
28. references
• American Marketing Association (AMA) (2008)
‘AMA releases new definition for marketing’.
Available at:
http://www.marketingpower.com/AboutAMA
(accessed 03/08/13).
• Chartered Institute of Marketing (CIM) (n.d.)
Marketing Glossary. Available at:
http://www.cim.co.uk/cim/ (accessed 11/06/07).
