Marketing As A

Transaction Process

Buyer Seller
Refer Lecture discussion
 Marketing Definitions
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

Marketing is a management process responsible foe

identifying , anticipating and satisfying customer
requirements profitably

CIM UK
 Marketing Definitions
The aim of marketing is to know and understand the
customer so well that the product or service fits him
and sells itself.

Peter Drucker
“Marketing Takes The Lead+
The biggest Value General Insurance Market Share

Disruption 50.00%

45.00%
In
Insurance?
40.00%

35.00%

30.00%

25.00%
Market Share

2000 2006
20.00%

45% 25%
15.00%

20% 37%
10.00%

5.00%

0.00%

2000 2001 2002 2003 2004 2005 2006 2007 2008 20

Source; Year

IBSL – Annual Report 1 2 3 4 5 6

Company 1 Company 2 Company 3 Company 4 Company 5 Company 6 Company 7
Value Re- engineering Model
Value – Re-engineering to
Reach Success
Value – Re-engineering to
Reach Success
Corporate Perspective – Disruption
Corporate Perspective – Disruption
Corporate Perspective – Disruption
Corporate Perspective – Disruption

Kodak @ Peak 450,000 direct employs

10 million indirect employees
Corporate Perspective – Disruption

70% of the Fortune 500 companies in 1970 do not

in existence today