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Marketing Fundamentals

Marketing Fundamentals

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Published by Omar Shawky

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Published by: Omar Shawky on Sep 12, 2011
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Marketing 101: The Fundamentals

Slide 6 of 153

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What is marketing?

Most people mistakenly identify marketing with
selling and promotion.
While selling and promotion are a part of
marketing, they are not most important part.
In Principles of Marketing Philip Kotler stated:

–If the marketer does a good job of identifying consumer
needs, developing appropriate products, and pricing,
distributing, and promoting them effectively, these
goods will sell very easily.

Marketing 101: The Fundamentals

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Defining Marketing…

Marketing can be defined as an activity directed at
satisfying needs and wants through exchange
processes.
The ultimate goal of marketing is to make selling
nonessential,
To know and understand the customer so well that
the product or service fits him or her and sells
itself.

Marketing 101: The Fundamentals

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Goods, Services, & Ideas…

Marketing deals with goods, services, and ideas.
A good is something someone can touch.
A service is providing an intangible benefit to
customers.
An idea can include concepts or images.
For this course, we will use the word product to
refer to goods, services, and ideas.

Marketing 101: The Fundamentals

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Needs, Wants, & Demands…

One of the underlying concepts of marketing is

trying to satisfy a customer’s needs, wants and

demands.
Needs are plentiful. Basic human needs include
food, clothing, warmth, safety and belonging.
Wants are simply needs shaped by culture and the
individual.
Demands are simply the wants of a consumer
when backed by the ability to pay for that want.

Marketing 101: The Fundamentals

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Exchange Processes…

Marketing usually occurs to help facilitate an
exchange between a buyer and seller.

Marketing 101: The Fundamentals

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Dynamic marketing environment…

There are many forces that affect the marketing
environment, including:

–Competition
–Laws and Regulations
–Economic and Social Conditions
–Cultural Factors

These forces can be dramatic and difficult to predict.
Be aware of these forces because they can create
threats and generate opportunities for your business.

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The marketing mix…

The marketing mix is another important concept
when it comes to marketing.
The marketing mix refers to activities that a firm
can control to produce the response it wants from
the target market.
These variables can be categorized into four

groups, also know as the four P’s of marketing.

Marketing 101: The Fundamentals

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The 4 P’s of marketing…

1.Product – This is what you are offering to your
target market, be it a tangible product or a
service.
2.Price – The amount you will charge for your
product.
3.Place – Channels your product will go through to
reach the customer.
4.Promotion – How you raise awareness with
your target market.

Marketing 101: The Fundamentals

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The 5th

P of marketing…

While the previous four P’s are important to the

marketing mix, there is one that is left out.

Positioning
Positioning is not dealing with where you will
place your product in the market, but where you
will place you product in the mind of the
consumer.
Marketing Mix worksheet

Marketing 101: The Fundamentals

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