1. MARKETING A SOCIAL DEFINITION: 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. A MANAGERIAL DEFINITION: Marketing (management) 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 (American Marketing Association) » Philip Kotler

2. CORE MARKETING CONCEPTS Needs, Wants, Demands Marketers Prospects –Consumers –Customers –Clients Segmentation

3. CORE MARKETING CONCEPTS (2) Product or Offering Product differentiation Product positioning Target marketing The Marketing Mix Products –Goods Vs. Services

4. CORE MARKETING CONCEPTS (3) Price Value = Benefits/Costs Satisfaction Exchange Transaction –Monetary –Barter

5. CORE MARKETING CONCEPTS (4) Promotion The Communication Channel The Promotion Mix Relationship Marketing Marketing Networks Distribution Channels Marketing Logistics The Supply Chain

6. CORE MARKETING CONCEPTS (5) Competition The Marketing Environment