1. MARKETING

2. Definition
The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return
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.

3. Marketing Process
Construct a marketing program that delivers superior value
Build profitable relationships and create customer delight
Understand the market place and customer needs and wants
Design a customer driven marketing strategy
Capture value from customers to create profits and customer quality

4. Company Orientation Towards the Marketplace
The Production Concept
Consumers will prefer products that are widely available and inexpensive
The Product Concept
Consumers will favour those products that offer the most quality, performance or innovative features
The Selling Concept
Consumers will not buy enough of the organization’s products if left alone
The Marketing Concept
Business shifted to customer centered Sense and respond philosophy
The Holistic Marketing Concpet
Based on the development, design and implementation of marketing programs, processes and activities that recogonizes their breadth and interdependencies.
Relationship Marketing – aim of building mutually satisfying long term relationships with key parties – customer, suppliers, distributors andother marketing partners

6. The Societal Marketing Concept
Society
(Human welfare)
A principle of enlightened marketing that holds that a company should make good marketing decisions by considering consumer’s wants, the company’s requirements, consumers long term interests and society’s long run interests
Consumers
(Want satisfaction)
Company
(Welfare)

7. Customer Relationship Management
The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction
Customer Perceived Value - The difference between total customer value and total customer cost
Customer Satisfaction – The extent to which a product’s perceived performance matches a buyer’s expectation.

8. Marketing Network
Consists of company and its supporting stakeholders with whom it has built mutually profitable business relationships.
Integrated Marketing - Traditional depiction of marketing activities is in term of marketing mix

9. Marketing Mix

10. Four P’s
Product
Price
Place
Promotion
Four C’s
Customer solution
Customer cost
Convenience
Communication

11. Marketplace and Customer Needs, Wants and Demands
Human needs are state of felt deprivation
Physical needs – food, clothing, warmth and safety
Social needs - belonging and affection
Individual needs - knowledge and self expression
Wants are the form human needs take as they are shaped by culture and individual personality
When wants are backed by the purchasing power, wants become demand

12. Target Markets, Positioning and Segmentation
Division of market – Segmenting
Identifying and profiling distinct groups of buyers who might prefer or require varying product and services
Target Market – the segment which present the greatest opportunity

13. Marketing Environment
Task Environment
Company
Suppliers Distributors
Dealers
Target customers
Broad Environment
Demographic environment
Economic environment
Physical environment
Technological environment
Political legal environment
Social cultural environment

14. Marketing Research and Information System
Marketing Research is a systematic, objective process of getting information about potential customers to guide marketing decisions.
Primary data and secondary data
Marketing Information System

15. New Marketing Landscape
The pace of change is so rapid that the ability to change has now become a competitive advantage – Richard Love, HP
The digital age
The Internet

16. Ethics and Social Responsibility
The growth of not for profit marketing
Stakeholders of Organizations
Customers
Employees
Local communities
Government
Intermediaries
Suppliers

17. Marketing Environment

18. A company's marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationship with target customers.
Micro environment
Macro environment

19. The Company’s Micro Environment
Marketing Intermediaries
Customers
Competitors
Suppliers
Company
Marketing
Public

20. The Company Suppliers Customers
Form an important link in the company’s overall customer value delivery system.
Provide the resource needed by the company to produce its goods and services
Customers
Consumer market
Business market
Reseller market
Government market
International market

21. Marketing Intermediaries
Firms that help the company to promote, sell and distribute its goods to final buyers,
Physical distribution firms
Marketing services agencies
Competitors
Public
Any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives

22. The Company’s Macro Environment
Natural forces
Technological forces
Political forces
Economic forces
Demographic forces
Marketing
Cultural forces

23. Demographic environment
Study of human population in terms of size, density, location, age, gender, race, occupation and other statistics.
Economic environment
Changes in income
Changing consumer spending patterns
Natural Environment
Growing shortage of raw materials
Increased pollution
Increased government intervention

24. Technological Environment Political environment
Increasing legislation
Increased emphasis on ethics and socially responsible actions
Cultural environment
Persistence of cultural values
Shift in secondary cultural values