Professional Documents
Culture Documents
Eighth Edition
Philip Kotler and Gary Armstrong
Chapter
1
Marketing in a Changing World:
Creating Customer Value and
Satisfaction
What is Marketing?
Products
Needs, wants, and
and demands Services
Core
Marketing
Concepts
Markets
Value, satisfaction,
and quality
Exchange, transactions,
and relationships
What Motivates a Consumer
to Take Action?
• Needs - state of felt deprivation for basic items such
as food and clothing and complex needs such as for
belonging. i.e. I am thirsty
Actual
Market - buyers
Buyers
who share a
particular need
or want that can
be satisfied by a
company’s products Potential
or services. Buyers
Modern Marketing System
Suppliers
Company
Competitors
(Marketer)
Environment
Environment
Marketing
Intermediaries
End User
Market
Marketing Management
Marketing Management
Implementing programs to create exchanges
with target buyers to achieve organizational
goals
Demand Management
Finding and increasing demand, also
changing or reducing demand
Selling Profits
Existing
Factory and through
Products
Promoting Volume
Profits
Customer Integrated
Market through
Needs Marketing
Satisfaction
Societal
Marketing
Concept
Consumers Company
(Wants) (Profits)
New Marketing Challenges
New
Marketing
Landscape &
Information Nonprofit
Technology Marketing
Emerging
Ethical
Concerns
Challenges Globalizatio
n
Changing
World
Economy