Chapter 1, Lesson 1:

A Framework for Marketing

 Learning Objectives

• To define and understand marketing

• To understand the structure of a
marketing system
• To learn the marketing process
components
 Marketing Defined
According to the definition provided by the American
Marketing Association…

“Marketing is the activity, set of institutions, and

processes for creating, communicating,
delivering, and exchanging offerings that have
value for customers, clients, partners, and society
at large.”
What We Derived from the Definition
That marketing…
➢ Is an organizational function because it is a
core task that is expected of a modern
organization, whether or not it operates for
profit.
➢ Is a set of processes because there are
essential tasks that have to be engaged in order
to produce a viable marketing strategy.

➢ Has the delivering of value to customers.

➢ Has at its heart a give-and-take relationship.

 Some Other Examples of Products

• Amusement parks • Musical bands

• Applications on • Pet care
smartphones • Radio stations
• Banking services • Social media sites
• Coffee shop • Telecommunication
• Hotel accommodations services
• Legal advice • Television programs
The Marketing System
The Marketing Process Components
➢ Strategic Marketing
‒ Customer segmentation
– Target market selection
– Value positioning
➢ Tactical Marketing: Value Deployment
‒ Product design and development
– Product portfolio management
– Service development
– Pricing
– Distribution and logistics
➢ Tactical Marketing: Value Communication
– Sales force strategies
– Sales promotion strategies
– Advertising