Definition of Marketing

Marketing Process

Topic • Understand the Marketplace and Customer Needs

• Designing a Customer-Driven Marketing Strategy

Outline • Preparing an Integrated Marketing Plan and Program

• Building Customer Relationships
• Capturing Value from Customers

Defining Marketing for the 3. The changing Marketing Landscape

New Realities

What is
Marketing?
I. Definition of • Question 1: Is it possible to say marketing is
an effort that make the selling unnecessary?

Marketing
 • The process of planning and executing the
conception, pricing, promotion and distribution of
ideas, goods and services to create exchange and
satisfy individual and organizational objectives.
(AMA, 1985)
• The management process responsible for
identifying, anticipating, and satisfying customer
requirements profitably. (CIM, 2001)
Marketing • The process by which companies create value for
customers and build strong customer relationships
is... in order to capture value from customers in return
(Kotler & Amstrong, 2013)

Question 2:
Do non-profit organizations perform
marketing?

• Examples of which and how organizations create

II. Marketing
Question 3:
value for customers and build strong customer
relationships?
Process
 Understand the Marketplace
and Customer Needs

A Marketing process

Need Want
form needs take as
they are shaped by
deprivation
culture and
individual

Demand
personality
Need Want
 Question:

• How to understand customers’ needs, wants, and

demands?

customers’ needs and wants are fulfilled by

combination of products, services,
MARKET OFFERINGS information, or experiences offered to a
market to satisfy a need or want.

Marketing is also about

Question: Exchange

•Do marketing offerings only GOODS PAYMENT

include products?
→NO. Why?
→Myopia Marketer Customer
 Designing a Customer-Driven
Marketing Strategy

Market

Customer driven marketing Strategy

MARKETING MANAGEMENT

SELECTING CUSTOMERS

CHOOSE VALUE PROPOSITION

Marketing management
 Selecting customers

Segmentation

Targeting

Value
proposition

Management orientations - the Production Concept

development of marketing through time
Consumers will favor products that are available
and affordable
PRODUCTION PRODUCT SELLING MARKETING SOCIETAL
CONCEPT CONCEPT CONCEPT CONCEPT MARKETING
CONCEPT

Problem: Too
much focus on
operation
 Product Concept
Consumers will favor products
that offer the most in quality,
performance, and innovative
features
Selling Concept
Consumers will not buy
enough without a large scale
selling and promotion effort

Problem: Too much focus

Problem: Too much only on transactional
focus on product → relationship
then what would
happen?

Marketing Concept

Focus on
satisfying the
needs and wants Societal
of target markets
Marketing
Concept
 https://www.kantar.com/Inspiration/Coronavirus/C
OVID-19-has-not-changed-consumer-attitudes-to-
advertising?fbclid=IwAR2po2ukXGf3guczNHQSQYO
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A quick question:
Should the company stop all advertising and marketing activities during Covid-19 period?

Lessons learned
from the article Advises for Marketers?
 Preparing an Integrated Marketing Plan
and Program

Preparing an Integrated The marketing mix: set of tools (4Ps or 8Ps) the
firm uses to implement its marketing strategy. It
Marketing Plan and Program includes product, price, promotion, and place.

Integrated marketing program: comprehensive

plan that communicates and delivers the
intended value to chosen customers.

Building
customer relationships
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
 Customer Satisfaction
SATISFACTION

Expected
level
Performance

DISSATISFACTION Partner relationship management

The changing
Marketing
Landscape

Capturing Value from Customers

 Digital age
Globalization

Most
revenues are
outside the
home
country

Ethics demands
 So, What Is Marketing?
Pulling It All Together

Not-for-Profit Marketing