Introduction

BA 3365 Principles of Marketing

Fall 2009

Vignesh

2009 2010 Vignesh

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What is Marketing?
Selling Advertising Spamming, Tele Sales, Surveying Making people buy things they really dont want to buy is cheating people! (not really!)

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Defining Marketing
AMERICAN MARKETING ASSOCIATION (AMA) AMA Definition (adopted in 2007)
o 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.

Previous AMA Definition (adopted in 2004)

o Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

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Marketing actually is
about creating customer value about
o Discovering and o Satisfying consumer needs and wants.
(profitably)

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The 4 prerequisites
Four requirements for marketing to occur.

(1) Two or more parties with unsatisfied needs (2) the desire and ability on their part to be satisfied (3) a way for the parties to communicate and (4) something to exchange.

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The Marketing Department

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Factors influencing Marketing Program

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Marketing is the involved process of determining the 3 Cs and 4 Ps of the

Marketing Mix

3 Cs
Customer Company Competition

4 Ps
Product Price Promotion Place
(Distribution)

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A brief history

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Why marketing became so important?

Production era:
o production was scarce, products would sell themselves.

Sales era:
o Production exceeds consumption of regular buyers. o Hire salespersons to sell what we produce.

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The Marketing Concept (1960 80)

we are in the business of satisfying needs and wants of customers. An organization should
o strive to satisfy needs of consumers o While also achieving the organizations goals

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Market Orientation Concept (1980 - )

An huge effort in the marketing concept focus led to the market orientation concept An organization with market orientation focuses on
o continuously collecting information about consumer needs o sharing this information across all departments o Using it to create customer

value

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A typical Marketing Department

Chief Marketing Office (CMO) SVP of Marketing Director of Consumer Insights / Analytics

Director of Innovation

Director of Product management

Director of Sales

Director of Communications

Product Manager

Research Manager

Brand Manager

Sales Manager

Public Relations

Design & Development Teams

Research Analyst

Mark-Com Manager

Field Sales Personnel

Event Planning

Advertising Managers

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Questions / Comments?
See you Monday.

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