MARKETING MANAGEMENT

Marketing Concepts

THE SCOPE OF MARKETING

What is Marketing
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 - The American Marketing Association

What is Marketed?
1. 2. 3. 4. 5. 6. 7. Goods Services Events Experiences Persons Places Properties 8. Organizations 9. Information 10.Ideas

You can Market them when there is a Demand!

What is Demand?
 Negative demand  No demand  Latent demand  Declining demand  Irregular demand  Full demand  Overfull demand  Unwholesome demand

Who Markets?
Marketers Markets Marketplaces, Marketspaces and Metamarkets

How it works?
Communication

- A Simple Marketing System

Company Orientations Toward the Marketplace

Production concept Product concept Selling concept Marketing concept

The 4 P component of the Marketing Mix