Management and Marketing
Principles
Marketing Management Philosophies
Open University of Mauritius
Contents
• Definition of Marketing
• The Marketing Process
• Evolution of Marketing Theories
– Production Concept
– Selling Concept
– Marketing Concept
– Societal Marketing Concept
Open University of Mauritius
What is Marketing?

Personal Selling?

Advertising?

Making products available in stores?

Public Relations?
All of the above, plus much more!
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3
What is Marketing?
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
(American Marketing Association)
Marketing Management is the art and science of
choosing target markets, getting, keeping and
growing customers through creating, delivering
and communicating superior customer value.
(Dr Philip Kotler)
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Marketing is….
 more than selling and advertising
 identifying and satisfying customers needs
 about creating customer value and satisfaction
Companies know if they take care of their customers
(delivering on their promises) , market share and
profits will follow.
The goal of marketing is to attract new customer by
promising superior value, and to keep current
customers by delivering satisfaction.
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The Marketing Process
• Understands the marketplace and customer
needs and wants.
• Designs a customer-driven marketing strategy.
• Constructs a marketing program that delivers
superior value.
• Builds profitable relationships and create
customer delight.
• Captures value from customers to create
profits and customer equity.
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Evolution of the marketing theories
• Production concept
• Selling concept
• Marketing concept
• Societal marketing concept
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Production Concept
The philosophy that consumers will favour
products that are available and highly
affordable and that management should
therefore focus on improving production and
distribution efficiency.
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Selling Concept
The idea that consumers will not buy enough
of the organization’s products unless the
organization undertakes a large – scale selling
and promotion effort.
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Marketing Concept
The marketing management philosophy that
holds that achieving organizational goals
depends on determining the needs and
wants of target markets and delivering the
desired satisfactions more effectively and
efficiently than competitors do.
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Pillars of Marketing Concept
•
•
•
•
Target Market
Customer Needs
Integrated Marketing
Profitability
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Selling & Marketing contrasted
Starting point
Focus
Means
Ends
Selling
Factory Existing products and promoting Profits through sales volume
The selling concept
Market
Customer needs
Integrated marketing
Profits through customer
satisfaction
The marketing concept
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Societal Marketing Concept
The idea that the organization should
determine the needs, wants, and interests of
target markets and deliver the desired
satisfactions more effectively and efficiently
than competitors in a way that maintains or
improves the consumer’s and society’s well –
being.
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Society
(Human welfare)
Societal
marketing
concept
Employees
Customers
(Satisfaction)
(Profits)
Three Considerations Underlying The Societal Marketing
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Summary
• Definition of Marketing
• The Marketing Process
• Evolution of Marketing Theories
Open University of Mauritius