Principles of Marketing

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Presentation transcript:

Principles of Marketing Revision (mid-term) By: Ms. Eman Elfar

What is Marketing ? The simple definition of marketing is that : Marketing is managing profitable customer relationships The Marketing is The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return The Main goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction.

Kotler’s social definition “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.”

Customer needs, wants, and demands Customer needs: is the states of felt deprivation. Human Wants :are the form human needs take as they are shaped by culture and individual personality Demands: are human wants that are backed by buying power.

De-marketing: is marketing to reduce demand temporarily or permanently; The aim of de-marketing is not to destroy demand but to reduce or shift it.

Strategic planning Strategic planning focuses on objectives of the organization as a whole. It aims to achieve long-term growth and survival. Strategic planning focuses on matching firm’s resources and capabilities to market opportunities to achieve organization's objectives Top management defines firm’s purpose and objectives

Strategic business unit Strategic business unit is the key business that make up the company. It can be a division, product line, single product or brand. Self-contained divisions.

Boston Consulting Group (BCG) Matrix

Growth Strategies Product-Market Growth Matrix