The field of marketing

Definition

Marketing is a total system of

business activities designed to plan, price,
promote and distribute want satisfying
products to target market in order to achieve
organizational objectives
 Evolution of marketing
1) Product orientation stage

Entire focus on production

People with background in manufacturing
and engineering held major positions
Demand for goods exceeded the supply
Finding the customer was relatively a
minor function
 Evolution of marketing
2) Sale orientation stage

 Economic crisis of 1920 (great

depression).
 Sales departments included in
organizations.
 Advertising consumed large share and
sales executives began to gain respect
and responsibility.
 Evolution of marketing
3) Market-orientation stage.

 Market become more diverse and worldly.

 Difficult to persuade
 Companies identified true needs and
tailored their activities in accordance with
their choices.
 Market-orientation stage evolved.
 A company’s marketing program
Market.
( need,money,willingness)

Large group is made up of many

subgroups
Market segment.
Share similar wants,
buying preferences or product use
behavior
 A company’s marketing program
Target market refers to a market
segment at which a firm directs a
marketing program

Designing a marketing mix

Product
(Branding, packaging and other product features)
Price
(base price, term of sale, discounts
etc)
Distribution
(selection of channels of distribution)
Promotion
(using mass media to create awareness)
 Importance of marketing
Globally

o The growth of economies

o Trade agreements
o Companies are entering in foreign
markets
o Global products in domestic markets
 Importance of marketing
Domestically
 High standard of living
 Mass communication, mass distribution, mass
production made products in reach of
consumers.

 Employment and cost

Creating utility.
Form utility.
Place utility.
Time utility.
 Importance of marketing
Organizationally
 The success of business directly comes from
satisfying the needs and wants of its customers

Personally
 Many companies consider you as part of their
market
 More informed consumer
 Career aspirations.