COMSATS Institute Of IT, Lahore

Module instructor:
M.Bilal Javed
Sales and Marketing

Advertising and Marketing

Production and Marketing

 Marketing Defined

 Marketing is the process by which companies create

value for customers and build strong customer
relationships to capture value from customers in
return (Kotler and Armstrong)
 Meeting needs profitably (Kottler)
 To build and maintain a profitable relationship with
the customers.
 Marketing is to identify customer needs and to meet
those needs so well that the product almost sells itself.
(Perreault & McCarthy)

1-4
 Customer Needs, Wants, and Demands

• Needs are states of deprivation (Basic

Req)
• Physical—food, clothing, warmth, safety
• Social—belonging and affection
• Individual—knowledge and self-expression

1-6
 Customer Needs, Wants, and Demands

Wants are the form that needs take as they

are shaped by culture and individual
personality

Demands are wants backed by buying

power
(e.g Suit)
1-7
 Describe the need versus the want for the
following Products/Brands.

 Nike Need= ? Want=?

 ipod
 McDonalds
 Residential Plot
 Market Offerings—Products, Services, and
Experiences

Market offerings are some combination of

products, services, information, or
experiences offered to a market to
satisfy a need or want

1-8
 Marketing Concepts

• Production concept
• Product concept
• Selling concept
• Marketing concept
• Societal concept

1-18
 Marketing Concepts

Production concept is the idea that

consumers will favor products that are
available or highly affordable

1-19
 Marketing Concept

Product concept is the idea that consumers

will favor products that offer the most
quality, performance, and features for
which the organization should therefore
devote its energy to making continuous
improvements

1-20
 Marketing Concept

Selling concept is the idea that consumers

will not buy enough of the firm’s
products unless it undertakes a large
scale selling and promotion effort

1-21
 Marketing Concepts

Marketing concept is the idea that

achieving organizational goals depends
on knowing the needs and wants of the
target markets and delivering the
desired satisfactions better than
competitors do.

1-22
 Marketing Concepts

Societal marketing concept is the idea that a

company should make good marketing
decisions by considering consumers’ wants,
the company’s requirements, consumers’
long-term interests, and society’s long-run
interests

1-23
 The effect of Globalization and Technological
advancement on Marketing of products and
services.