Session 1

§  What is the new economy like and define the fundamental marketing concepts.
§  Discuss the importance, task and scope of marketing.

§  Identify task necessary for successful marketing management.

§  Discuss how marketing affect customer value.
Marketing is the activity, set of institutions, and
processes for creating, communicating,
delivering ,and exchanging offers that have
value for customers, clients, partners and
society at large.
Marketing Management is the art and science
of choosing target markets , getting , keeping
and growing customers through creating ,
delivering , and communicating superior
customer value.
 PEOPLE
GOODS

EVENTS
EXPERIENCES
PLACES
PROPERTIES
ORGANIZATIONS
INFORMATION
IDEAS
Marketers Prospect
Attention

Purchase

Donation

Vote

RESPONSE
 •  Irregular Demand
•  Negative Demand

•  Unwholesome Demand •  Declining Demand

•  Latent Demand
•  Full Demand
•  Overfull Demand
•  Non-existent Demand
 Government Market
Consumer Market

Global Market
Business Market
Market Place Market Space Meta Market
•  Needs, Wants, •  Target Markets,
and Demands Positioning, and
Segmentation

•  Offerings •  Value and

and Brands Satisfaction
 Marketing Channel Marketing Environment

•  Communication Channel •  Task Environment

•  Distribution Channel •  Broad Environment

•  Service Channel

Supply Chain
•  The supply chain is a longer channel
stretching from raw materials to
components to finished products
carried to final buyers.
Competition
•  Competition includes all
the actual and potential
rival offerings and
substitutes a buyer might
consider.