Chapter One The field of marketing. What is marketing? n Societal definition: Any exchange activity intended to satisfy human wants. n Business definition:

Slides:



Advertisements
Similar presentations
What is Marketing. The process of planning and
Advertisements

The 4 P’s of Marketing consumer The Marketing Mix.
Chapter 12 Marketing and Customer Satisfaction Business Today.
Bajaj Coaching Center, Rohtak Visit bcc2000.com for more Information.
What is marketing? Process: plan & execute Marketing Mix: Four P’s “Products”= goods, services, ideas Create exchange that satisfies both parties.
Lecture 07 Marketing. Working Definition of the concept > – The process of determining customer wants and needs and – then providing.
CREATING CUSTOMER RELATIONSHIPS AND VALUE THROUGH MARKETING
Introduction to Marketing
What is Marketing? Everything What is marketed?  Goods Consumer and industrial  Services  Ideas.
Chapter 9: Marketing: Providing Value to Customers
Unit 3 Basic Marketing Concepts
MARKETING Strategies MARKETING Process.
PowerPoint Presentation by Charlie Cook Copyright © 2005 Prentice Hall, Inc. All rights reserved. Chapter 10 Understanding Marketing Processes and Consumer.
Copyright  2003 McGraw-Hill Australia Pty Ltd PPTs t/a Essential Marketing Skills by Rix Slides prepared by Joe Rosagrata This is the prescribed textbook.
CHAPTER 1 THE FIELD OF MARKETING Instructor Ambreen Ali
Marketing Concept Ted Mitchell.
 Marketing-- creation and maintenance of satisfying an exchange relationship  Concept– › 1:something conceived in the mind : thought, notionconceivedthought.
Unit Two Business Management.  Learning Intentions: We will be able to :  Outline the marketing function and its relationship to business objectives.
Chapter1 An Introduction to Marketing Research. The Importance of Information Companies Need Accurate Information About:..The marketing environment..Customer.
DEVELOPING CUSTOMER RELATIONSHIPS AND VALUE THROUGH MARKETING
The Marketing Concept Marketing Principles Chapter 2.1.
Chapter 1 marketing dynamics.
Marketing dynamics.
Marketing. Today…  What is a market?  What is marketing?  Role of Marketing  Marketing Objectives  Marketing Activities.
Chapter One Marketing: Managing Profitable Customer Relationships.
What is Marketing? Chapter 1. Marketing Overview Marketing- “The process of planning and executing the conception, pricing, promotion, and distribution.
MKT 201 Principles of Marketing
Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 1 MKTG Lamb, Hair, McDaniel CHAPTER An Overview of Marketing.
Marketing Basics. Marketing  Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings.
Marketing 1 An Overview of Marketing. WHAT IS…? MARKETING.
Chapter 1: What Marketing’s All About. It’s All About Satisfaction  Marketing today is applied to virtually all aspects of a company’s operation that.
Marketing Essentials The Marketing Concept
Marketing Is All Around Us
Chapter 10 Marketing.
CPAS REVIEW MARKETING CHAPTER 1--MARKETING IS ALL AROUND US.
Chapter 1 An Overview of Marketing. Learning Outcomes – CH 1 Understand the meaning of the term “marketing” Understand the evolution of marketing management.
Chapter 28: Effective Marketing. Purposes of Marketing Anticipating customers’ wants (Market research) Satisfying customers’ wants in a way that delights.
2.02Classify the functions of marketing and the marketing mix.
1 Copyright ©2006 by South-Western, a division of Thomson Learning. All rights reserved Chapter 1 Prepared by Deborah Baker Texas Christian University.
Copyright © 2007 McGraw-Hill Ryerson Limited. Objectives To be able to understand: The focus of marketing on customer satisfaction. Marketing’s emphasis.
The World of Marketing Standard 1 Objective 1. Marketing Marketing is the activity, set of institutions, and processes for creating, communicating, delivering,
Chapter 1.2 & 1.3 Review. Economic Utility Assembling parts to build an engine is adding value through (Not directly related to marketing) Form utility.
The learning objectives: What is Market? What is Marketing and marketing management? Marketing core Concepts Marketing management philosophies 1.
What’s Marketing? Oxford Dictionary: Market : A place at which trade is conducted. Marketing: The action of buying or selling in a market.
Marketing Basics. What is Marketing?  Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas,
Marketing identify, anticipate & satisfy consumer wants and needs - profitably Overall Aim of Marketing:
MARKETINGGOLDENChapter #1. MARKETING ►The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying.
Marketing and the Marketing Concept The process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges.
MARKETING A SOCIAL DEFINITION: Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering,
D. Marketing a Small Business 6.00 Explain the fundamentals of marketing in a small business Explain marketing and its importance.
MARKETING MIX. What is Marketing Mix? The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet.
The Marketing Mix. 4.2 Marketing Applications The Marketing Mix: Consists of variables controlled by marketing professionals in an effort to satisfy the.
THE ROLE OF ADVERTISING IN MARKETING Topic 1 Introduction to Advertising.
SECTION 2.1 THE MARKETING CONCEPT Chapter 2: Basic Marketing Concepts.
Presentation on Marketing Mix
D. Marketing a Small Business
Sports and Entertainment Marketing
INTRODUCTION TO MARKETING
Chapter 2: Basic Marketing Concepts
Chapter 13 Marketing: Helping Buyers Buy
MARKETING A SOCIAL DEFINITION: Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering,
Marketing Foundations
What is Marketing? Everything.
Chapter 1-1.
Marketing Is All Around Us
Marketing and the Marketing Concept
D. Marketing a Small Business
Marketing Is All Around Us
Secondary/Environmental Participants
Marketing Foundations
Presentation transcript:

Chapter One The field of marketing

What is marketing? n Societal definition: Any exchange activity intended to satisfy human wants. n Business definition: A system of business action aimed at achieving organisational goals by developing, pricing, distributing and promoting products and ideas that will satisfy customers’ wants. OHT 1

Stages of marketing management n Production-orientation stage ‘Build a better mousetrap.’ n Sales-orientation stage ‘Sell, sell, sell.’ n Marketing-orientation stage ‘Profitable satisfying of customers’ wants.’ n Societal-orientation stage ‘Satisfying the needs of the consumer and the broader community.’ OHT 2

Marketing vs selling n Selling emphasis is on the product n Marketing emphasis is on customers’ wants ‘Marketers love their customers before their products.’ ‘Marketing is making what you can sell, rather than selling what you make.’ OHT 3

The marketing concept n Satisfying customers’ wants is the economic and social justification of the organisation’s existence. n The marketing concept is practiced by: – being customer-oriented in all decisions and activities – striving to maximise profitable sales volume – systematically coordinating all marketing activities OHT 4

An example of relationship marketing Pic P14

An example of not-for-profit marketing Pic P19

The marketing process n Conduct situation analysis. n Determine marketing objectives. n Segment total market and select target markets. n develop marketing mix (4 Ps): – product – price – distribution (place) – promotion OHT 5

The 4 elements of the marketing mix Pic P27