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DEFINITION OF MARKETING
The American Marketing Association:
The process of planning and executing

the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

The Chartered Institute of Marketing:

The management process responsible for identifying, anticipating and satisfying customer requirements profitably."

Philip Kotler says :

Satisfying needs and wants through an exchange process

Importance of Marketing
Marketing Promotes Product Awareness to the Public

Importance of Marketing

Marketing Helps Boost Product Sales

Importance of Marketing

Marketing Builds Company Reputation

Where can marketing be used?

Traditional Businesses Not-For-Profit Companies Institutions Social Organizations Social Causes and Ideas Politics Sports and Entertainment

Types of Marketing

Online Marketing

Offline Marketing

Word of Mouth Marketing

Markets

All actual and potential customers Cant be all things to all people, so break up total market into segments Each segment is comprised of people who are grouped by their similarity along some dimensions

Market Segments and Positioning

Target Segments Market research is critical to identify and understand target segment(s) Position to be most attractive to target segment: Use Marketing Mix

Marketing Mix: The Four Ps

Product

Price
Promotion

Place

Product
Benefits delivered Features Size Options Packaging Warranties Service

to customers

PRICE

PROMOTION

Place/Distribution
Wholesaling Retailing Direct Marketing Logistics