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An Overview of
Marketing
Prepared by
Deborah Baker
Texas Christian University
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Copyright 2006 by South-Western, a division of Thomson Learning. All rights reserved

Learning Objectives

1. Define the term marketing

2. Describe four marketing management
philosophies
3. Discuss the differences between sales
and market orientations
4. Describe several reasons for studying marketing

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Copyright 2006 by South-Western, a division of Thomson Learning. All rights reserved

What Is Marketing?
American Marketing Association Definition
Marketing is an organizational function and a set
of processes for creating, communicating, and
delivering value to customers and for managing
customer relationships in ways that benefit the
organization and its stakeholders.

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Copyright 2006 by South-Western, a division of Thomson Learning. All rights reserved

Marketing
Creating value
Customer value
and beneficial
relationships

ct
u
od
r
P

Pl
ac
e

Exchange
A
B

Delivering
value

Pr
ice

io
ot
om
r
P

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Copyright 2006 by South-Western, a division of Thomson Learning. All rights reserved

Communicating
value

The Concept of Exchange

At
At Least
LeastTwo
TwoParties
Parties
Something
Somethingof
ofValue
Value

Necessary
Necessary
Conditions
Conditions for
for
Exchange
Exchange

Communication
Communicationand
andDelivery
Delivery
Freedom
Freedom to
toAccept
Accept or
or Reject
Reject
Desire
Desireto
toDeal
DealWith
With Other
Other Party
Party

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Copyright 2006 by South-Western, a division of Thomson Learning. All rights reserved

The Concept of Exchange

Exchange may not take place even

if conditions are met

An agreement must be reached

Marketing occurs even if exchange

does not take place

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Marketing Management Philosophies

Production
Production
Sales
Sales

Competing
Competing
Philosophies
Philosophies

Market
Market
Societal
Societal Marketing
Marketing

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The Marketing Concept

Focusing on customer wants and needs to

distinguish products from competition

Integrating all the organizations activities to

satisfy customer wants and needs

Achieving the organizations long-term goals by

satisfying customer wants and needs

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Marketing Management Philosophies

Orientation

Focus

Production
Production

What
Whatcan
canwe
wemake
makeor
ordo
dobest?
best?

Sales
Sales

How
Howcan
canwe
wesell
sellmore
moreaggressively?
aggressively?

Marketing
Marketing

What
Whatdo
docustomers
customers
want
wantand
andneed?
need?

Societal
Societal

What
Whatdo
docustomers
customerswant
wantand
andneed,
need,
and
andhow
howcan
canwe
webenefit
benefitsociety?
society?

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Copyright 2006 by South-Western, a division of Thomson Learning. All rights reserved

Comparing the Sales and Marketing

Orientations
You can compare these orientations
against these four categories:
Organizations focus
Firms business
Those to whom the product is directed
Firms primary goal

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10

The Organizations Focus

Key
KeyIssues
Issuesin
in
Developing
Developing
Competitive
CompetitiveAdvantage
Advantage

Create
Create
Customer
Customer
Value
Value

Build
Build Long-Term
Long-Term
Relationships
Relationships

Maintain
Maintain
Customer
Customer
Satisfaction
Satisfaction

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11

Customer Value Requirements

Offer products that perform
Give consumers more than they expect
Avoid unrealistic pricing
Give the buyer facts
Offer organization-wide commitment in service
and after-sales support
On Line
http://www.iflyswa.com

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12

Relationship Marketing
Who
Who are
are your
your customers
customers
What
What do
do customers
customers value
value

Requirements
Requirements
for
for
Building
Building
Relationships
Relationships
3

What
What do
do they
they want
want to
to buy
buy
How
How do
do they
they prefer
prefer to
to interact
interact

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13

Defining a Firms Business

Benefits instead of goods/services

Ensures a customer focus

Encourages innovation and creativity

Stimulates an awareness of changes

in customer preferences
On Line
http://www.britannica.com

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14

Why Study Marketing?

Why
WhyStudy
StudyMarketing?
Marketing?

Important
Important
to
to
Society
Society

Important
Important
to
to
Business
Business

Good
Good
Career
Career
Opportunities
Opportunities

+
Marketing affects you every day!
4

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