Marketing in today’s economy (week 1) Dr. Ananda Sabil Hussein.

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Presentation transcript:

Marketing in today’s economy (week 1) Dr. Ananda Sabil Hussein

What is marketing? Activity deals with identifying ad meeting human and social needs Activity deals with identifying ad meeting human and social needs Meeting needs profitably Meeting needs profitably 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. (AMA, 2013) 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. (AMA, 2013)

What is marketed? Goods Goods Services Services Events Events Experiences Experiences Persons Persons Places Places Properties Properties Organizations Organizations Information Information

Market What is market? What is market? Consumer market Consumer market Business market Business market Global market Global market

Change the Market Technology development Technology development Globalization Globalization Deregulation Deregulation Privatization Privatization Customer empowerment Customer empowerment Customization Customization Competition Competition

History of Marketing Production concept Production concept Product concept Product concept Selling concept Selling concept Marketing concept Marketing concept Relationship marketing concept Relationship marketing concept

Holistic Marketing

Market Oriented Needs: basic human requirements Needs: basic human requirements Wants : specific needs Wants : specific needs Demands : wants for specific products back by an ability to pay Demands : wants for specific products back by an ability to pay

Marketing Management Tasks Developing marketing strategies and plans Developing marketing strategies and plans Capturing marketing insights Capturing marketing insights Connecting with customers Connecting with customers Building strong brands Building strong brands Shaping the market offerings Shaping the market offerings Delivering value Delivering value Communicating value Communicating value Creating long-term growth Creating long-term growth

STP Segmentation Segmentation Targeting Targeting Positioning Positioning

CSR and Marketing Mix Ethics Ethics Product Product Price Price Place Place Promotion Promotion