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Lecture 1 Faheem Azam

What is Marketing Anyways?

A Philosophy
An Attitude

A Set of Activities, including:

Products Pricing

A Perspective
A Management Orientation


And a lot more

The Backdrop- phase I

Product Orientation
Trade Era Produced for consumption excess on sale -till industrial revolution

Product Orientation goods are in short supply and customers are many but with no choice A Sellers market

The Backdrop- Phase II

Sales Orientation Competition emerges demand=supply push strategies required to make sales.
Sellers market [product orientation] Increased Output Demand=supply [sales orientation]

The backdrop- Phase III

Customer Orientation Supply expands further till it exceeds demand Global /local competition Customer needs become important than own resources
Increased Output Increased Output

Sellers market [product orientation]

Demand=supply [sales orientation]

Buyers market [customer orientation]

The Backdrop-Phase IV
Societal Orientation Concerns about the environment Wider needs of society Global interests Aware customers and power of media

Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return.

American Marketing Association Definition

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.

1)Understanding the Marketplace and Customer Needs

Customer Needs, Wants, and Demands Needs are states of deprivation Physicalfood, clothing,
warmth, safety

Socialbelonging and

and self-expression

1)Understanding the Marketplace and Customer Needs

Customer Needs, Wants, and Demands (cont) Wants are the form that needs take as they are shaped by culture and individual personality Demands are wants backed by buying power and choices

Market Offerings Products, Services, and E xperiences

2) Responding to Customer needs

Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want

Start Observing


Any more Questions?