Objectives

Scope of Marketing Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Evolution Marketings Responses to New Challenges

2000 Prentice Hall

Scope of Marketing
Market Research Product Planning Branding Pricing Channels of Distribution Promotion : selling, advertising, sales promotion Servicing : customer service, after sales

2000 Prentice Hall

Key Tasks of Marketing

Identify target markets Market Research Product Development Devise a marketing mix Market Monitoring

2000 Prentice Hall

Marketing

Marketing is the management process responsible for : Identifying Anticipating and Satisfying Consumer requirement profitably

2000 Prentice Hall

Defining Marketing
Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. - Philip Kotler (p. 7)

2000 Prentice Hall

Core Concepts of Marketing

Target Markets & Segmentation

Needs, Wants, and Demands

Product or Offering Value and Satisfaction Exchange and Transactions Relationships and Networks Marketing Channels Supply Chain Competition

Marketing Environment
2000 Prentice Hall

Simple Marketing System

Communication

Industry (a collection of sellers)

Goods/services Money

Market (a collection of Buyers)

Information
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Structure of Flows
Resources Money

Resource markets
Taxes, goods

Resources Money

Manufacturer markets

Services, money Services, money

Taxes

Taxes, goods Services, money

Government markets
Services

Consumer markets

Taxes, goods
Money

Money Goods, services

2000 Prentice Hall

Intermediary markets Goods, services

The Four Ps The Four Cs

Marketing Mix Product

Place
ConvenPromotion ience Communication

Customer Solution

Price Customer Cost

2000 Prentice Hall

Company Orientations Towards the Marketplace

Production Concept Product Concept
Consumers prefer products that are widely available and inexpensive
Consumers favor products that offer the most quality, performance, or innovative features Consumers will buy products only if the company aggressively promotes/sells these products Focuses on needs/ wants of target markets & delivering value better than competitors

Selling Concept
Marketing Concept
2000 Prentice Hall

Customer Delivered Value

Starting point
Factory

Focus
Existing products

Means
Selling and promotion

Ends
Profits through sales volume

(a) The selling concept

Market

Customer needs

Integrated marketing

Profits through customer satisfaction

(b) The marketing concept

2000 Prentice Hall

Traditional Organization Chart

Top Management

Middle Management
Front-line people Customers

2000 Prentice Hall

Customer-Oriented Organization Chart

Customers
Front-line people Middle management

Top management
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Evolving Views of Marketings Role

Finance Production Human resources Marketing

Production

Finance
Human resources

Marketing

a. Marketing as an equal function

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b. Marketing as a more important function

Evolving Views of Marketings Role

Production

Marketing

Customer

c. Marketing as the major function

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d. The customer as the controlling factor

Evolving Views of Marketings Role

Production Marketing
Customer

e. The customer as the controlling function and marketing as the integrative function
2000 Prentice Hall