FUNDAMENTALS OF

MARKETING
MOHD ZAHIN MOHD YUSOF

Chapter 1 – Overview of Marketing

What is Marketing?

Definition of Marketing
“Marketing is a form of
communication between you
and your customers with the
goal of selling your product or
service to them.
Communicating the value of
your product or service is a
key aspect of marketing.”

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Basic Concept of Marketing
Needs
Physical- food, clothing, shelter,
safety, water

Wants
A want is a product desired by a
customer that is not required for
us to survive.

Demands
If a customer is willing and able to
buy a need or a want, it means
that they have a demand for that
need or a want
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Types of Need

Abraham Maslow Hierarchy

of Needs

Physiological Needs
Safety Needs
Social Needs
Esteem Needs
Self-Actualization Needs

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Types of Need
Physiological needs
Physiological needs (e.g. food,
shelter, clothing, water, air,
sleep etc.) refer to those
needs which are so essential
Safety needs
E.g., security of job, pension
for old age, insurance plan,
compensation for lay off or
retrenchment
Social needs
Social needs include need for
love, affection, friendship,
acceptance by group etc
Esteem needs
These needs are concerned
with one’s self esteem such as
self-respect, self confidence,
status,etc
Self-actualization needs
These needs include need for
self-development, self
actualization, self-
advancement, desire to take
an increased responsibilities
etc 04
Market Offerings

Product
Consumers’ needs and
wants are fulfilled
through market Service
offerings

Tangible goods (Attire,

Vehicles, Gadgets , etc) or
Intangible goods ( Banking, Experience
Home Repair Services,
Hotel, Haircuts etc.)

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Marketing Myopia

The mistake of paying

more attention to the
specific products a
company offers than to
the benefits and
experiences produced
by these products.

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Basic Concept Of Marketing

• VALUE AND SATISFACTION

• EXCHANGE AND RELATIONSHIPS

• MARKET AND TRANSACTION

07
Development Of Marketing Concept

PRODUCTION CONCEPT MARKETING CONCEPT

PRODUCT CONCEPT

SELLING CONCEPT SOCIETAL MARKETING

08
Marketing Vs Sales

09
Holistic Marketing

10
Holistic Marketing
Internal Marketing
Holistic marketing concept is a
part of the series on concepts of
marketing and it can be defined as Relationship Marketing
a marketing strategy which
considers the business as a whole
and not as an entity with various
Performance Marketing
different parts.

Integrated Marketing

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 Holistic Marketing

Internal Marketing Performance Marketing

Marketing between all the Boosting the sales in organization and

departments in an organization reduce the cost of sales

Relationship Marketing Integrated Marketing

Building a better relationship with your All work together as a team in the
customers organization

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 Advantages Of Holistic Marketing
Attract New Business Efficiency

Attract new visitor, turn to lead and No more bartering resources,

become customer, then brand everyone know where does it goes
advocate

Smarter use of Company

Focus
Resources
Help your organization focus and keep
Everyone knows the budget and
moving forward.
expected outcome, it helps to avoid
wasted resources
Alignment

All have common goals

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Marketing Management in Microenvironment

Marketing
Company Intermediaries

. Eg.; Tesco, Giants

Suppliers
Competitors

Publics
Customer Markets
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Marketing Management in Macroenvironment

Demography Culture
. .

Economy
.

Technological Forces
.

Natural Forces Political Forces

. .
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