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  • Principal of Marketing Ch#1

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    Sufyan Ullah
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    This document provides an overview of marketing concepts and the marketing process. It defines key terms like market, which is where buyers and sellers meet, and organization, which has a structure. The five steps of the marketing process are outlined as understanding customer needs and wants, designing customer-driven strategies, constructing integrated marketing communications, building customer relationship management, and capturing value from customers. The document also discusses marketing management orientation, marketing myopia, marketing offerings, definitions of marketer and transaction, and factors that lead to customer satisfaction.

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    Principal of Marketing Ch#1

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    This document provides an overview of marketing concepts and the marketing process. It defines key terms like market, which is where buyers and sellers meet, and organization, which has a structure. The five steps of the marketing process are outlined as understanding customer needs and wants, designing customer-driven strategies, constructing integrated marketing communications, building customer relationship management, and capturing value from customers. The document also discusses marketing management orientation, marketing myopia, marketing offerings, definitions of marketer and transaction, and factors that lead to customer satisfaction.

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    © All Rights Reserved
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    12 views3 pages

    Principal of Marketing Ch#1

    Uploaded by

    Sufyan Ullah
    This document provides an overview of marketing concepts and the marketing process. It defines key terms like market, which is where buyers and sellers meet, and organization, which has a structure. The five steps of the marketing process are outlined as understanding customer needs and wants, designing customer-driven strategies, constructing integrated marketing communications, building customer relationship management, and capturing value from customers. The document also discusses marketing management orientation, marketing myopia, marketing offerings, definitions of marketer and transaction, and factors that lead to customer satisfaction.

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    © All Rights Reserved
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    of 3

    Principal of Marketing CH# 1

    Marketing
    By Philip Kotler>
    Marketing is an organization process. Marketing word drive from Market.
    Market
    Market is a place where buyer and seller are meet with each other.
    Organization
    Every organization has a structure. For example USKT

    H.R FINANCE
    MKITING
    Five steps of Marketing Process
    1.Understand Need of customer and wants of customer.
    2.Design customer driven marketing strategies.
    In simple we have to follow STP (Segmentation, Targeting, Positioning) Rule.
    3.Construct/Design IMC (Integrated Marketing and communication channel/modes/method).
    4.Build CRM (customer relationship management) to get keep grow.
    5.Capture Value from Customer. Need: Necessity of Life

    Value Benefit-Cost to customer. Wants: Modification of needs.

    Driven: According to customer.

    Segmentation: Divide the market into small groups.


    Like A=Upper

    B=Middle

    C=Lower

    Targeting: Choose one Segmentation

    Positioning: Create an image in the mind of customer.

    IMC: Mean no matter what kind of promotion you are


    going to promote. Try to communicate single voice
    mean United Market.
    Marketing Management Orientation/Concept.
    Art or Science to manage all Marketing activities is known as MMO/MMC.
    CONCEPTS.
    There are five concepts of MMO/MMC.
    1.Production Concept: Focus on production of goods and not focus on production quality.
    2.Product Concept: Focus on product Quality, feathers, characteristics etc.
    3.Selling Concept: Focus on selling of goods not focus on customer satisfaction.
    4.Marketing Concept: Focus on customer satisfaction.
    5.Social Marketing Concept: Focus on the betterment of society.
    Marketing Myopia:
    We are not focus on customer satisfaction. we just focus on product.
    Marketing Offering:
    Anything that market can be offered. For example: Combination of goods and services.

    Core-Marketing Defination
    1.Marketer: A person who used to do marketing is known as Marketer.
    2.Exchange: Exchange of one good with another when there is no element of money involves.
    3.Transaction: When Money is involved in dealing.
    4.Satisfaction: Performance and Expectation.
    P>E = Delight
    P<E = upset
    P=E = Satisfy
    Q. What can be Marketed?
    Ans. Everything can be Marketed like ideas, events, properties, persons etc.

    CHAPTER #1 IS COMPLETED

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