WHAT IS MARKETING? WHAT IS THE CORE OBJECTIVE OF MARKETING?

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Presentation transcript:

WHAT IS MARKETING? WHAT IS THE CORE OBJECTIVE OF MARKETING?

Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others Social Definition 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. AMA Definition

Marketing Management is the Art and Science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value. Kotler Definition

In 1876, Bass Brewery registered its Red Triangle trademark, which is regarded as the first ever registered trademark. Now famous brands Coca Cola was registered in 1887 In its early years, trademarks were used manly as "differentiators". Around 1900, J.W.Thompson, a pioneer of advertising, published a house ad explaining trademark advertising. By 1900, it was being found that demand consisted of more than simple purchasing power. It reflected desire as well as ability to purchase, and new experiences with advertising and salesmanship were proving that desire could be increased and molded by factors other than the mere existence of supply. Later on Relationship Marketing, Service Marketing, CRM, Social Marketing concepts evolved gradually in the discipline after 1950s.

Change in Market space

Why is Marketing becoming so important? Saturated market Healthy market

Why is Marketing becoming so important?.. Product Lifecycle

Price war Why is Marketing becoming so important?..

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But Today?..

… fast suppliers Quick lead time … Why is Marketing becoming so important?..

Necessary flexibility To be competitive: Why is Marketing becoming so important?..

That Means

Better Output But at lower cost Better Economic Value

Globalization Technology Deregulation

GOODS SERVICES EVENTS EXPERIENCES PERSONS PLACES PROPERTIES ORGANIZATIONS INFORMATION IDEAS

Full Demand Overfull Demand Unwholesome Dental Work Vaccination Foreign Language Courses Harmless Cigarettes Fuel-Efficient Cars CD/DVD Hotels Mass-Transit Changing Preference Increasing Competition Apple’s Product Cigarettes Alcohol Negative Demand 1 1 No Demand 2 2 Latent Demand 3 3 Declining Demand 4 4 Irregular Demand

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