Introduction to marketing
Download as PPT, PDF3 likes1,023 views
The document defines marketing as a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging goods and services of value. It describes four philosophies of marketing management and discusses the differences between sales and market orientations. Finally, it provides several reasons for studying marketing, such as understanding customer needs and wants.
Introduction to marketing
- 1. MVS.SRINIVASA RAO, Associate Professor, MRPG College, VZM Marketing : Introduction
- 2. Define the term marketing Describe four marketing management philosophies Discuss the differences between sales and market orientations Describe several reasons for studying marketing 1 2 3 4 An Overview of Marketing MVS. Srinivas Rao, Associate Professor of Strategic Marketing, Member-AIMA,CGPA-UGC.
- 3. What Is Marketing? Define the term marketing 1
- 4. Human Needs Needs are many and Common & They never ends
- 5. Human Wants Wants are few and different & Difficult to satisfy
- 6. Market The place where the needs and wants of the customers are satisfied.
- 7. A societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging goods and services of value with others. - Philip Kotler, 1953. Father of Modern Marketing Marketing - Definition T he definition emphasizes the society and its orientation.
- 8. Marketing is the process of SATISFYING THE NEEDS AND WANTS OF THE CUSTOMERS A Philosophy An Attitude A Perspective A Management Orientation A Set of Activities… Products Distribution Promotion Pricing Aims at Needs & Focuses on Wants
- 9. History of Marketing Thought – The journey Bartering First Marketing is not economics 1800s College Courses (academics) Early 1900s 1930s First marketing theories 1960s Marketing research 1970s Becomes major business function 1980s & 1990s Focus on customer & external environment
- 10. It is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals. - American Marketing Association,1939 . Marketing Management Definition T he definition encompasses both the philosophy and the organization orientation.
- 11. Exchange Chapter PHOTO Here People giving up something to receive something they would rather have. The medium of exchange is money… It is MARKETING.
Editor's Notes
- #2: Chapter 1 An Overview of Marketing Copyright © 2010 by Nelson Education Ltd. Notes: Marketing cannot be accomplished in isolation. Even though the marketing function resides with marketers, the concept of marketing must permeate the entire organization.
- #3: Chapter 1 An Overview of Marketing Copyright © 2010 by Nelson Education Ltd.
- #4: Chapter 1 An Overview of Marketing Copyright © 2010 by Nelson Education Ltd.
- #8: Chapter 1 An Overview of Marketing Copyright © 2010 by Nelson Education Ltd. Notes: The NEW definition of Marketing from the AMA (American Marketing Association) as of October 25, 2007: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
- #9: Chapter 1 An Overview of Marketing Copyright © 2010 by Nelson Education Ltd. Notes: Marketing has two facets. The first is that it’s a philosophy…. An “attitude” that emphasizes customer satisfaction. Second, marketing is the activity, or a set of activities or processes performed by an organization that strive to deliver value to customers. set of institutions, and processes used to implement the philosophy. David Packard, cofounder of Hewlett-Packard, stated that “marketing is too important to be left only to the marketing department.” It’s more than selling products , and Marketing is a process that focuses on delivering value and benefits to customers and creating rewarding relationships. It uses communication, distribution, and pricing strategies to provide customers with the goods and services they want. It includes building long-term, mutually rewarding relationships. It entails an understanding that organizations have many connected stakeholder partners, including employees, suppliers, stockholders, distributors, and others.
- #10: Bartering - Surpluses - Agrarian Societies 1800s - More Than Just Supply and Demand Early 1900s - Focus on Distribution 1930s - Theories Developed - Consumer Behaviorists 1960s - Customer Focus Based on Marketing Research US became cradle of marketing thinking 1970s - Routinized into industry 1980s & 90s - Knowing Everything About Customer is Not Enough. Must know customer in context of which includes competition, government policy and regulation, and the broader economic, social an political macro forces that shape the evolution of markets.
- #11: Chapter 1 An Overview of Marketing Copyright © 2010 by Nelson Education Ltd. Notes: The NEW definition of Marketing from the AMA (American Marketing Association) as of October 25, 2007: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
- #12: Chapter 1 An Overview of Marketing Copyright © 2010 by Nelson Education Ltd.