MARKETING

INTRODUCTION
• What does marketing mean?
• Many people think it as only selling and
advertising.

• But it is Not just selling and advertising.

• Selling and advertising are just the tip of
the marketing iceberg.

– They are only two of many marketing

functions.
• Today in the new sense marketing is
satisfying customer needs.

• Selling occurs only after a product is

produced whereas, marketing starts long
before a company has a product.

• Marketing continues through out the

product’s life.
Definition:
• A social and managerial process whereby
individuals and groups obtain what they
need and want through creating and
exchanging products and value with
others.
– Kotler and Armstrong
 Core marketing concept
• Needs, wants, and demands
• Products and services
• Value, satisfaction and quality
• Exchange. Transactions and relationship
• Markets
• Thus marketing means managing
markets to bring about exchanges and
relationships for the purpose of creating
value and satisfying needs and wants.