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Published byAndrew Freeman Modified over 6 years ago
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Objectives Course Organization Tasks of Marketing
Major Concepts & Tools of Marketing Marketplace Orientations Marketing’s Responses to New Challenges
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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)
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Simple Marketing System
Communication Industry (a collection of sellers) Market of Buyers) Goods/services Money Information
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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
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