MARKETING
Introduction and Overview
WHAT IS MARKETING?
 Delivering
customers
value, benefits & solutions to
 People
not buying products but solving
problems/needs
 Firm

– stakeholders besides customers
employees satisfaction leads to customer
satisfaction
INSIGHTS INTO MARKETING
 Starbucks
 Mgmt
Guru -- Peter Drucker
 Revlon
 Sony
– Howard Schulz
-- Charles Revson
-- Akio Morita
EXCHANGE
2
parties
 each with something of value to others
 each capable of comm. & delivery
 FREEDOM to accept or reject
 appropriate/desirable to deal with other
 both better off after transaction
 key: must reach an AGREEMENT for
exchange to occur
WHY MARKETING?
 Marketing
function imperative for
organizational success
 Hypercompetitive
 Highly
marketplace
discriminating customers
 Changing
consumer needs
MARKETING MANAGEMENT
PHILOSOPHIES
 Production
orientation
 Sales orientation – me first, customer 2nd
 Market orientation – customer is king
(Japan: Customer is god)
 Marketing orientation -- focus on
Consumer needs INTEGRATE all activities
serve C  long term goals
 Societal marketing orientation: preserve
individual & society’s interest  Duracell:
less mercury & toxic level

WHAT’S THE DIFFERENCE BETWEEN
SALES & MARKETING?


SELLING  INWARD focus  on efficiency,
operational issues
MARKETING: focus on customer value 
provide quality they expect at a price they are
willing to pay at all levels of quality and price
range
WHY PRODUCTS SUCCEED?

Products that perform earn trust

Avoid unrealistic pricing

organization wide commitment to post sales
support
CUSTOMER SATISFACTION




The key to any organization’s success is it
delivers satisfaction to its clientele
Organization culture geared towards creating
customer value via customer satisfaction
Build RELATIONSHIPS
Human Resource function & training key –
Customer-oriented employees via empowerment
& teamwork
WHY STUDY MARKETING?

Important role in society – to produce & deliver
needed products and services priced promote

Important to BIZ  survival, profits, growth

Career opportunities

Affects our daily lives – unending exposure
CORE MARKETING CONCEPTS
 Needs,
wants, demands, preferences
 Segmentation, targeting, positioning
 Offerings and brands
 Value and satisfaction
 Marketing channels
 Supply chain
 Competition
 Marketing environment