. .

DEFINITION OF MARKETING
The American Marketing Association:
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

TheChartered 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

Marketing

Helps Boost Product Sales

Importance of Marketing

Marketing

Builds Company Reputation

Importance of Marketing

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 segment is comprised of people who are grouped by their similarity along some dimensions

Each

Market Segments and Positioning

Target Market

Segments

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

Position

Marketing Mix: The Four Ps

Product Price Promotion Place

Product
Benefits

delivered to customers
Features Size Options Packaging Warranties Service

PRICE

PROMOTION

Place/Distribution
Wholesaling Retailing Direct

Marketing Logistics