The document provides an overview of fundamental marketing management concepts. It defines marketing and discusses the marketing mix (product, price, place, promotion). It explains concepts like segmentation, target markets, customer value and satisfaction. Marketing is presented as a process of understanding customer needs and delivering superior value compared to competitors. The document also distinguishes between marketing and selling orientations.

3. “ Financial success often depends on Marketing ability . Finance , operation accounting and other business functions will not really matter if there is not sufficient demand for products and services.” -Philip Kotler

22. Core Marketing Concept

42. Marketing and Selling Orientations Orientation/ Concept Focus Means Ends Selling Product Aggressive selling and sales promotion with emphasis on price variations to close the sale. “ I must somehow hook the customer .” Maximise profits through sales maximization Marketing Customer Integrated marketing plan encompassing product, price, promotion and distribution backed up by adequate environmental scanning, consumer research and opportunity analysis—emphasis on service " what can we do that will make us better than and superior to our competitors, in the customer's eyes "? Maximise profits through increased consumer satisfaction and hence higher market share.

44. Customer needs Potential Market opportunities Marketing product And services Customer Production Capabilities Manufacture Products Customer Aggressive sales efforts Marketing concept Production concept

62. Product vs. Brand A product is something that is made in a factory A brand is something that is bought by a customer. A product can be copied by a competitor. A brand is unique. A product can be quickly outdated. A successful brand is timeless.

72. Thanks