Documente Academic
Documente Profesional
Documente Cultură
Road Map:
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What is Marketing?
Simple Definition: Marketing is managing
profitable customer relationships.
Goals:
1 Attract new customers by promising
superior value.
2 Keep and grow current customers by
delivering satisfaction.
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Marketing Defined
A social and managerial process by which
individuals and groups obtain what they need and
want through creating and exchanging products
and value with others.- Philip Kotler
Marketing is a total system of Business activities
designed to plan, price, promote and distribute
want satisfying goods, services to present and
potential customers. William J Stanton
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More Definitons
Delivery of standard of living Paul Mazor
Creation & Delivery of standard of living- Malcom
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CORE CONCEPTS
NEEDS, PRODUCTS VALUE EXCHANGE MARKETS MARKETERS,
WANTS, RELATIONS
DEMANDS
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Needs, Wants, & Demands
Need: State of felt deprivation including
physical, social, and individual needs.
Physical:
Food, clothing, shelter, safety
Social:
Belonging, affection
Individual:
Learning, knowledge, self-expression
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Needs, Wants, & Demands
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Need / Want Fulfillment
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Safety &
Security
Physiological
Self
Esteem
Social
Self
actual
isatio
n
Abraham Maslow need hierarchy
Need / Want Satisfiers= Products
Products:
Goods
Services
Persons
Places
Organizations
Information
Ideas
Services
Activity or benefit offered for sale that is
essentially intangible and does not result in
the ownership of anything .
Marketing Myopia
Theodore Levite
Sellers pay more attention to the specific
products they offer than to the benefits and
experiences produced by the products.
They focus on the wants and lose sight of the
needs
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Value & Satisfaction
If performance is lower than expectations,
satisfaction is low
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What is a Market?
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Value Proposition
The set of benefits or values a company promises to
deliver to consumers to satisfy their needs.
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Marketing Management
Philosophies
Production Concept
Product Concept
Selling Concept
Marketing Concept
Societal Marketing Concept
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Chapter 2: Fundamentals of
Marketing
Exchange Concept
Holds that the central idea in Marketing is Exchange: exchange of a Product
between the seller and buyer
This is the most short sighted view of the marketing process
The Production Concept
Maximise output, achieve a lower unit cost; and sell at a lower price
The Product Concept
Holds that Quality and Features of the Product is the main thing
Results in Marketing Myopia
A coloured or crooked perception of marketing and a shortsighted view of
business. - Theodore Levitt.
The right thing is to Focus on the basic human needs the product satisfies
The Sales Concept
Aggressively promote and push products
The Marketing Concept
Customer is central to business
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Difference Between Selling and Marketing
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Selling
vs. marketing
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Levitt and Drucker on Marketing
Customer orientation is the essence of marketing
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Look back
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How does the Marketing Concept Conceive Marketing?
Key Attributes of Marketing Concept
Unflinching consumer orientation
Overwhelming emphasis on the consumer and his needs
The customer, not the corporation, has to be the centre of the business universe.
Integrated management action with marketing as the fulcrum
All the limbs of the business are tightly integrated with each other, keeping
marketing as the pivot.
Emphasis on generating consumer satisfaction
It is essential that consumer orientation leads to/translates into consumer
satisfaction.
Emphasis on profit
Creation of profits or surpluses as an essential requirement.
Attaining all the goals of the corporation through customer satisfaction
All goals must be realised through consumer orientation and generation of
consumer satisfaction.
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Difference in Orientation the Separating Factor Between One
Concept and the Other
Contrast the Sales concept and the Marketing concept. A difference in orientation towards
the market/conduct of business is the real differentiating factor between the two concepts.
Why the Existing Perspectives are Not Sufficient for Interpreting Marketing
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Need for the Value Perspective
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Rest Stop: Reviewing the Concepts
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