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y Defining Marketing

Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others.

y What is Marketing? Simply put: Marketing is the delivery of customer satisfaction at a profit. y Need, Exchange, Buyers People Who Exhibit Need Resources to Exchange Willingness to Exchange Unexpected Situational Factors Attitudes of Others Ethical Potential Buyers Market Buyers who share a particular need or want that can be satisfied through exchange or relationships . Actual Buyers y Core Concepts of Marketing Product or Offering Value and Satisfaction Needs, Wants, and Demands Exchange and Transactions Relationships and Networks Target Markets & Segmentation Marketing Channels Supply Chain Competition Marketing Environment y Exchanges Transactions Relationships Building a Marketing Network Consisting of The Company and All Its Supporting Stakeholders How Do Consumers Obtain Products and Services? y Simple Marketing System Goods/services Money Industry (a collection of sellers) Market (a collection of Buyers) Communication Information y Structure of Flows Manufacturer markets Services, money Government markets Services, money Services Services, money Taxes Taxes, goods Taxes, goods Taxes, goods Money Money Consumer markets Intermediary markets Goods, services Goods, services Resources Resources Resource markets Money Money y The Four Ps Marketing Mix The Four Cs Customer Solution Customer Cost Communication Conven- ience Product Price Promotion Place y Company Orientations Towards the Marketplace Production Concept Product Concept Selling Concept Marketing Concept Consumers prefer products that are widely available and inexpensive
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Consumers favor products that offer the most quality, performance, or innovative features

Consumers will buy products only if the company aggressively promotes/sells these products Focuses on needs/ wants of target markets & delivering value better than competitors y Customer Delivered Value Market Integrated marketing Profits through customer satisfaction Customer needs (b) The marketing concept Factory Existing products Selling and promotion Profits through sales volume Starting point Focus Means Ends (a) The selling concept
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y Needs - state of felt deprivation for basic items such as food and clothing and complex needs such as for belonging. i.e. I am hungry. Wants - form that a human need takes as shaped by culture and individual personality. i.e. I want a hamburger, French fries, and a soft drink.

Demands - human wants backed by buying power. i.e. I have money to buy this meal.

What are Consumers Needs, Wants and Demands? y Societal Marketing Concept Societal Marketing Concept Company (Profits) Consumers (Want Satisfaction) Society (Human Welfare) y Traditional Organization Chart Customers Front-line people Middle Management Top Management y Customer-Oriented Organization Chart Customers Front-line people Middle management Top manage- ment Customers Customers y Evolving Views of Marketings Role a. Marketing as an equal function Finance Production Marketing Human resources b. Marketing as a more important function Finance Human resources Marketing Production y Evolving Views of Marketings Role c. Marketing as the major function Marketing Finance Human resources Production d. The customer as the controlling factor Customer Human resources Finance Production Marketing y Evolving Views of Marketings Role The customer as the controlling function and marketing as the integrative function Customer Marketing Production Human resources Finance y Review
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Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Marketings Responses to New Challenges

Marketing Environment
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What is the marketing environment?


The marketing environment surrounds and impacts upon the organization. There are three key perspectives on the marketing environment, namely the 'macro-environment,' the 'micro-environment' and the 'internal environment'.

The micro-environment
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This environment influences the organization directly. It includes suppliers that deal directly or indirectly, consumers and customers, and other local stakeholders. Micro tends to suggest small, but this can be misleading. In this context, micro describes the relationship between firms and the driving forces that control this relationship. It is a more local relationship, and the firm may exercise a degree of influence.

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The macro-environment
This includes all factors that can influence and organization, but that are out of their direct control. A company does not generally influence any laws (although it is accepted that they could lobby or be part of a trade organization). It is continuously changing, and the company needs to be flexible to adapt. There may be aggressive competition and rivalry in a market. Globalization means that there is always the threat of substitute products and new entrants. The wider environment is also ever changing, and the marketer needs to compensate for changes in culture, politics, economics and technology.

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The internal environment.


All factors that are internal to the organization are known as the 'internal environment'. They are generally audited by applying the 'Five Ms' which are Men, Money, Machinery, Materials and Markets. The internal environment is as important for managing change as the external. As marketers we call the process of managing internal change 'internal marketing.'

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Essentially we use marketing approaches to aid communication and change management. The external environment can be audited in more detail using other approaches such as SWOT Analysis, Michael Porter's Five Forces Analysis or PEST Analysis.

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