INTRODUCTION TO MARKETING
Good marketing is not an accident but the
result of careful planning and execution.
A social and managerial process whereby
individuals and groups obtain what they need
and want through creating and exchanging
products and value with others.
INTRODUCTION TO MARKETING
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Management definition: It 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.
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Marketing is an art and science.
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If there is no sufficient demand for the products and services, finance,
accounting, production and other functions will not really matter.
INTRODUCTION TO MARKETING
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Marketing is meeting the needs profitably both of marketers and customers.
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The aim of marketing is to know and understand the customer so well that the
product or service fits him and sells itself. e.g. Waiting lines and customers in
full restaurants, the waiting period for vehicles, etc.
OBJECTIVES OF MARKETING
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Creation of Demand: The objective of marketing is to create demand through
various means. A conscious attempt is made to find out the preferences and
tastes of the consumers.
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Customer Satisfaction: The marketing manager must study the demands of
customers before offering them any goods or services.
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Market Share: Every business aims at increasing its market share, i.e. the
ratio of its sales to the total sales in the economy.
OBJECTIVES OF MARKETING
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Generation of Profits: The marketing department is the only department which
generates revenue for the business. Sufficient profits must be earned as a result of
sale of want satisfying products. If the firm is not earning profits, it will not be able
to survive in the market.
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Creation of Goodwill and Public Image: To build up the public image of a firm
over a period is another objective of marketing.
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Apply effective and intelligent modern marketing policies: Changing growth
rate, rapid technological change and new aggressive rivals all made every
marketing firm to adopt and respond to change for survival and prosperity.
IMPORTANCE OF MARKETING
MARKETING ENVIRONMENT
INTRODUCTION TO MARKETING
NEEDS AND WANTS
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Needs are basic human requirements. So, which are the parts that make up
this human survival needs hierarchy? air; water; food; shelter; safety; sleep;
clothing. Humans also have strong needs for recreation, education, and
entertainment.
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Wants are needs directed to specific objects/services that might satisfy the
need. Wants change with time, place, and the individual. It is determined by
someone’s culture and personality and, therefore, wants are not always the
same.
DEMAND
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This is the wants for specific products backed by an ability to pay.
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Marketers should try to shape the wants. Many customers don't know what they
want when the product is new, concept or service is new.
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So companies help the customers to learn what they want.
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E.g. chips, soft drinks are the party food, chocolates for celebrations, diet food
product, fitness, and weight loss programs etc.
EXCHANGE
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Get something (product /service) by
offering something in return. E.g. kind
(barter) or money (value)
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Exchange is a value-creating process
because it leaves both parties better off
(win-win situation).
TRANSACTİON
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The act of obtaining a desired object from
someone by offering something of value in return.
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Customer (or buyer)
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Product
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The provider (or seller)
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Transaction
WHAT İS MARKETED?
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Goods
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Places
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Services
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Properties
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Events
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Organizations
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Experiences
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Information
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Persons
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Ideas
Conceptions Under Which Firms Conduct Marketing Activities
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Production concept
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Product Concept
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Selling Concept
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Marketing Concept
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Holistic Marketing Concept
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Societal Marketing Concept
PRODUCTION COCEPT
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Consumers will prefer products that are widely available and inexpensive.
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Managers of production-oriented businesses concentrate on achieving high
production efficiency, low costs, and mass distribution.
PRODUCT COCEPT
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Consumers will favor those products that offer the most quality, performance,
and innovative features.
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Managers in these organizations focus on making superior products and
improving them over time.
SELLİNG COCEPT
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Consumers, if left alone, will ordinarily not buy enough of the organization’s
products. The organization must, therefore, undertake an aggressive selling
and promotion effort.
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The aim is to sell what companies make rather than what the market wants.
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Success depends on a good sales team with the right tools and incentives.
HOLİSTİC MARKETİNG COCEPT
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Based on the development, design, and implementation of marketing programs,
processes, and activities.
FOUR THEMES OF HOLİSTİC MARKETİNG COCEPT
1. Relationship Marketing
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Building long-term mutually satisfying relations with customers, suppliers, and
distributors in order to retain their long-term preferences and business.
2. Integrated Marketing
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It is the tools that an organization employs to pursue its marketing objectives in the
target market.
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Product, Price, Place, Promotion
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4 C’s – Customer solution, Cost, Convenience, Communication
FOUR THEMES OF HOLİSTİC MARKETİNG COCEPT
3. Internal Marketing
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Marketing Department
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Senior Management
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Other departments
4. Socially Responsible Marketing
The cause and effect of marketing clearly extend beyond the company and the customers.
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Ethics, Environment, Legal, Community
SOCİETAL MARKETİNG CONCEPT
The organization’s tasks are to determine the
needs, wants, and interests of target markets
and to deliver the desired satisfaction more
effectively and efficiently than competitors in a
way that preserves or enhances the
consumer’s and society’s well-being.
WHY STUDY MARKETİNG
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Plays an important role in society
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Vital to business survival, profits and growth
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Offers career opportunities
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Affects your life every day
WHY STUDY MARKETİNG
Vital Marketing Activities for Organizations
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Assess the wants and satisfaction of customers
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Design and manage product offerings
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Determine prices and pricing policies
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Develop distribution strategies
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Communicate with present and potiential customer
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