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The Scope of Marketing
What Is Marketing?
 Marketing is about identifying and meeting human and social needs
Two Definitions of Marketing
Social definition:
 Deliver a higher standard of living
Managerial definition:
 The art of selling products
We need to design the right product by doing careful marketing
homework
Canon ELPH digital camera
Toyota Prius hybrid automobile
These manufacturers were swamped with orders
What Is Marketed?
 Goods
 Services
 Events
 Experiences
 Persons
 Places
 Properties
 Information
Most Importantly
 Ideas are being Marketed
The Rolling Stones have done a masterful job of marketing their rebellious form of rock and roll to audiences of all
ages.
Who Markets?
MARKETERS AND PROSPECTS
 Marketer: who seeks a response
 Prospect: attention from another party
Eight demand states are possible:
 Negative demand
 Non-existent demand
 Latent demand
 Declining demand
 Irregular demand
 Full demand
 Overfull demand
 Unwholesome demand
Structure of Flows in a Modern Exchange Economy
A Simple Marketing System
KEY CUSTOMER MARKETS
 Consumer Markets
 Business Markets
 Global Markets
 Non-profit and Governmental Markets
MARKETPLACES, MARKETSPACES, AND
METAMARKETS
 marketplace is physical
 marketspace is digital
 metamarket is cluster of complementary products and services

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The scope of marketing