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Marketing

Marketing

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Published by sidharth212

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Published by: sidharth212 on Dec 20, 2009
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08/25/2010

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1. Definitions of marketing
Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably¶
1.1
 
Th
e C
h
artered Institute of Marketing
o
 
T
he right product, in the right place, at the right time, and at the right price¶
 Adcock et al 
 
o
 
Marketing is the human activity directed at satisfying human needs and wants through anexchange process¶
 K 
otler 1980
 
o
 
Marketing is a social and managerial process by which individuals and groups obtainwhat they want and need through creating, offering and exchanging products of valuewith others¶
 K 
otler 1991
 
o
 
1.2
 
Implications of marketing
W
ho are our existing / potential customers?
W
hat are their current / future needs?How can we satisfy these needs?
 
Can we offer a product/ service that the customer would value?
 
Can we communicate with our customers?
 
Can we deliver a competitive product of service?
W
hy should customers buy from us?
1.3
 
Th
e marketing concept
o
 
Choosing and targeting appropriate customers
o
 
P
ositioning your offering
o
 
I
nteracting with those customers
o
 
Controlling the marketing effort
o
 
Continuity of performance
 

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