Introduction to Marketing

Note: For class circulation only

Who Benefits from Marketing

Customers
Company
Stakeholder
Society

Source: Sharma et al.

Is Marketing a departmental activity?

Source: Sharma et al.

 Demand States
• Negative
• Nonexistent
• Latent
• Declining
• Irregular
• Unwholesome
• Full
• Overfull

Source: Kotler and Keller

Marketing…
• Two Facets:
1. A philosophy, an attitude, a
perspective, or a management
orientation that stresses customer
satisfaction.
2. An organizational activity, set of
institutions, and processes.

Source: Grewal
 Marketing Concept
Marketing concept
Achievement of corporate
goals through meeting and
exceeding customer needs
and expectations better
than the competition

Customer orientation Integrated effort Goal achievement

Corporate activities All staff accept the Belief that corporate
are focused upon responsibility for goals can be achieved
providing customer creating customer through customer
satisfaction satisfaction satisfaction

Source: Grewal
 What Is Marketing?
American Marketing Association Definition

Marketing is the activity, set of institutions,

and processes for creating,
communicating, delivering, and
exchanging offerings that have value for
customers, clients, partners, and society
at large.

Source: Sharma et al.

Essence of Marketing

Marketing entails
processes that focus on
delivering value and
benefits to customers, not
just selling goods and
services.

Source: Sharma et al.

 Exchange
At Least Two Parties

Something of Value

Conditions for
Communication and Delivery
Exchange

Freedom to Accept or Reject

Desire to Deal with Other

Party

Source: Sharma et al.

Company Orientation

PRODUCTION

PRODUCT

SELLING

MARKETING

Societal

Holistic Source: Sharma et al.

and Kotler and Keller
 Sales vs. Market
Orientations

Primary
Organization’s Firm’s For Profit Tools to
Focus Business Whom? Goal? Achieve

Sales Inward Selling Everybody Maximum Primarily

Orientation goods and sales promotion
services volume

Market Outward Satisfying Specific Customer Coordinated

Orientation wants and groups of satisfaction use of all
needs people marketing
activities

Source: Sharma et al.

Structure Of Flows In A Modern
Exchange Economy

Discuss the
differences
between sales
and market
orientations

Source: Kotler and Keller

Holistic Marketing
Dimensions

Source: Kotler and Keller

 Marketing Mix Components
(4 PS) and Linkage with 4As

Accessibility

Acceptability Affordability Awareness

Source: Kotler and Keller
MODERN MARKETING
MANAGEMENT Ps

PEOPLE

PROCESSES

PROGRAMS

PERFORMANCE

Source: Kotler and Keller

Source: BCG
Source: BCG
Source: BCG
New Marketing Roles

Source: BCG