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What is Marketing
Selling?
Advertising? Promotions
Marketing=?
Marketing is 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
Goods/services
(a collection of sellers)
Money
Industry
(a collection of Buyers)
Market
Information
4
Products
Markets
Demand Burger ( translation of a want as per our willingness and ability to buy )
Desire Have a Burger in a five star hotel
Consumer market E.g. Soft drinks, Cosmetics Business markets E.g. Heavy equipment, Building
Market Segmentation
Definition: Division of the total market into smaller,
Demographic:
Age Family size Gender Income Occupation Education
Psychographic
Socio-economic classification Lifestyle Personality
Behavioral:
Occasions Loyalty Attitude towards the product
COMPETITION
MACRO-ENVIRONMENT
Social Change
Demographics Economic Conditions
Competition
Target Market
Technology
Product
Place
Customer Solution
Price
Promotion
Customer Cost
Communication
13
4Ps of Marketing
Product
Price
Promotion
Place
Deriving Strategies
Internal Analysis
Externa l Analysi s
Strategic Alternative s
Existing markets
Market Penetration
Product Development
New markets
Market Development
Diversification
Integration
Investment Strategies
Positioning
Act of designing the companys offering and image to occupy a distinctive place in the mind of the target market.
Pepsi Youngistan Ad What position it created