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Principles of Marketing
Session 1
Feb 01, 2010
Course Goals
Fundamentals of Marketing
• Places • Goods
• Properties • Services
• Organizations • Experiences
• Information • Events
• Ideas • Persons
EXCHANGE
• 4 Conditions of Exchange
Conceptualizing Marketing
•What is marketing anyway?
What is Marketing?
• Many definitions, but for the purposes of
this class we’ll follow Kotler et al:
• 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
• Marketing is a total system of business activities
designed to plan, price, promote and distribute
want satisfying products to target markets to
achieve organizational objective.
Definition of Marketing
(until last year)
• “Marketing is the process of
planning and executing the
conception, pricing, promotion,
and distribution of ideas, goods,
and services to create exchanges
that satisfy individual and
organizational goals.”
• American Marketing Association Definition of
Marketing, www.marketingpower.com
Marketing starts with needs/wants of
Customer
Product Customer
Consumer
Types of Marketing “Offerings
• Product
• A generic term to describe
what is being marketed –
whether it is a good,
service, person or place.
Requirements for Market Exchange
• A “marketplace”
• A medium of exchange
• Specialization of labor
• Marketing management/coordination
Types of Marketing “Offerings”
• Goods
• are tangible
Types of Marketing “Offerings”
• Services
• an experience provided by the application of
human or mechanical skill
Non-
Non- Non-
Non-
Customer
Customer Economic
Economic
Support
Support Measures
Measures
Characteristics
of Nonprofit
Organizations
Poorly
Poorly
Organized
Organized
for
forMarketing
Marketing
1-8
Selling ideas/Social Marketing
• Health
• Environment
• Education
• Safety
The Marketing of Ideas/ Causes
Marketing
MarketingDepartment
Department Focus : Coordinate all
Era
Era customer contacts
Marketing-oriented
Marketing-oriented Focus :Long-Run
Company
Company Customer Satisfaction
Five stage of marketing evolution
Sale era(1929—
1950)
• A time when a
company emphasizes
selling because of
increased
competition.
Five stage of marketing evolution
Focus:
Production
Production Era
Era Increase
Increase Supply
Supply
Focus:
Sales
Sales Era
Era Beat
Beat Competition
Competition
Marketing Focus :
Marketing Department
Department
Era
Era Coordinate
Coordinate and
and Control
Control
Marketing Focus :
Marketing Company
Company Long-Run
Long-Run
Era
Era Customer
Customer Satisfaction
Satisfaction
1-5
The
TheMarketing
Marketing Concept
Concept
Customer
Customer Total
TotalCompany
Company
Satisfaction
Satisfaction Effort
Effort
The
Marketing
Concept
Profit
Profit
Marketing
MarketingFunctions
Functions
Information
Information Buying
Buying
Risk
RiskTaking
Taking Selling
Selling
Universal
Marketing
Marketing
Functions
Functions
Financing
Financing Transporting
Transporting
Standardizing
Standardizing Storing
Storing
and
andGrading
Grading
A Business Function
Price Promotion
• Seller’s assignment of value to a • Communication efforts by a marketer to
product influence consumers or organiza-tions
about goods, services, or ideas
Utility and Marketing
From Production
Time
Time
Form
Form
Utility
Utility
Value
Value that
that comes
comes Place
Place
from
from satisfying
satisfying
human
human needs
needs
Task
Task
Possession
Possession
Exhibit 1-1
From Marketing
1-3
Utility The power to satisfy human need
Marketing management
Marketing research
Marketing consulting
Product and brand management
Sales
Advertising
How does Marketing fit
into our lives today?
Focus:
Production
Production Era
Era Increase
Increase Supply
Supply
Focus:
Sales
Sales Era
Era Beat
Beat Competition
Competition
Marketing Focus :
Marketing Department
Department
Era
Era Coordinate
Coordinate and
and Control
Control
Marketing Focus :
Marketing Company
Company Long-Run
Long-Run
Era
Era Customer
Customer Satisfaction
Satisfaction
1-5
---- See exhibit 1-5
CODE OF ETHICS BY AMERICAN
MARKEYING ASSOCIATION
Responsibility of the marketer
Honesty and Fairness
Rights and duties of parties in the
marketing exchange process
In the area of the 4P’s
QUIZ FOR CHAPTER 1