1. Objectives Course Organization Tasks of Marketing
Major Concepts & Tools of Marketing
Marketplace Orientations
Marketing’s Responses to New Challenges

2. Defining 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.
- Philip Kotler (p. 7)

3. Simple Marketing System
Communication
Industry
(a collection
of sellers)
Market
of Buyers)
Goods/services
Money
Information

4. Company Orientations Towards the Marketplace
Consumers prefer products that are
widely available and inexpensive
Production Concept
Consumers favor products that
offer the most quality, performance,
or innovative features
Product Concept
Consumers will buy products only if
the company aggressively
promotes/sells these products
Selling Concept
Focuses on needs/ wants of target
markets & delivering value
better than competitors
Marketing Concept