Marketing Public Relations Chapter 1 Rahma Santhi Zinaida

What is Marketing ? Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.customer relationships

Marketing concept The management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called 4P's:managementprocessgoods servicesmoveconcept practicecoordinationelements (1) identification, selection, and development of a product,selectiondevelopmentproduct (2) determination of its price,price (3) selection of a distribution channel to reach the customer's place, anddistribution channelreach customer's (4) development and implementation of a promotional strategy.implementationpromotional strategy

The Chartered Institute of Marketing define marketing as 'The management process responsible for identifying, anticipating and satisfying customer requirements profitably‘ If we look at this definition in more detail Marketing is a management responsibility and should not be solely left to junior members of staff. Marketing requires co- ordination, planning, implementation of campaigns and a competent manager’s with the appropriate skills to ensure success.

Marketing objectives, goals and targets have to be monitored and met, competitor strategies analysed, anticipated and exceeded. Through effective use of market and marketing research an organisation should be able to identify the needs and wants of the customer and try to delivers benefits that will enhance or add to the customers lifestyle, while at the same time ensuring that the satisfaction of these needs results in a healthy turnover for the organisation. Philip Kotler defines marketing as 'satisfying needs and wants through an exchange process'

Within this exchange transaction customers will only exchange what they value (money) if they feel that their needs are being fully satisfied, clearly the greater the benefit provided the higher transactional value an organisation can charge. P.Tailor of suggests that 'Marketing is not about providing products or services it is essentially about providing changing benefits to the changing needs and demands of the customer (P.Tailor 7/00)'