Transcript What is marketing?

Marketing Aspects and Principles
Objectives
 History of marketing
 Define marketing
 Discuss the importance of
 Marketing
 Marketing process
 Describe components of a
 Marketing plan
 Provide keys marketing concepts
Historical background
•19th century :
1 market
Limited products
• 20th century
What is marketing?
• “identifying and satisfying consumer needs”
What are Consumers’ Needs,
Wants, and Demands?
This Is a Need
Needs - state of felt
deprivation
including physical,
social, and
individual needs.
Types of Needs
Physical:
Food, clothing, shelter, safety
Social:
Belonging, affection
Spiritual
( ISLAM)
This Is a Want
Wants - form that
a human need
takes, as
shaped by
culture and
individual
personality.
This Is Demand
Wants
Buying Power
“Demand”
MARKETING UR LIFE
Game
Why do it?
􀁺 Approximately 80% of new products and
businesses fail within three years after they
reach the market
Why Businesses Fail (The 3 Ms)
􀁺
Money - sufficient operating capital and
cash flow
􀁺
Management - skills and experience
􀁺
Marketing - knowing and accessing
your customer
Basic definitions
•Advertising
•Promotion
•Publicity
•Public Relation (PR)
•Sales
•Marketing
•Circus example
Overlapping concepts
The selling concept
The marketing concept
•
The selling concept:
 “Consumers will not buy enough of your
product if you leave them alone”
Focus
nokia
•
The marketing concept:
 “Foundation = market = people = needs”
Integrating all the organization’s activities,
including promotion, to satisfy these wants.
 Focus
Marketing conception focuses on needs and goals
rather than products
Product
oriented
7up
“ A bottle containing
a drink “
Market
oriented
“Obey your thirst”
Danon
“ our product is healthy”
“ Fat vs Thin “
Carrier
“ our AC is durable”
A story
What are examples of good [bad] marketing?
GOOD
•McDonald's vs Jollibie
BAD
• Commercials that don’t tell you what the product is
• Boring song (Amazon’s commercial)
• Commercial in the middle of a classic film segment
A Simple Model of the Marketing Process
Needs , wants ,
demands
Products
Value , cost &
satisfaction
Exchange and
transaction
Capture value from
customers in return
Markets
Marketers and
prospects
A Simple Model of the Marketing Process
Needs , wants ,
demands
Products
Value , cost &
satisfaction
Exchange and
transaction
Capture value from
customers in return
Markets
Marketers and
prospects
Product as an Idea
Products do not
have to be physical
objects. Here the
“product” is an
idea—protecting
animals.
Marketing Myopia
 Sellers pay more
attention to the specific
products they offer than
to the benefits and
experiences produced
by the products.
 They focus on the
“wants” and lose sight
of the “needs.”
A Simple Model of the Marketing Process
Needs , wants ,
demands
Products
Value , cost &
satisfaction
Exchange and
transaction
Capture value from
customers in return
Markets
Marketers and
prospects
Value and Satisfaction
Expectation
8
Performance
10
Expectation
Performance
10
8
Overall value = Benefits / costs
A Simple Model of the Marketing Process
Needs , wants ,
demands
Products
Value , cost &
satisfaction
Exchange and
transaction
Capture value from
customers in return
Markets
Marketers and
prospects
Exchange & Transaction
Act of obtaining a desired object from
someone by offering something in return.
A trade of values between two parties.
One party gives X to another party and gets
Y in return. Can include cash, credit, check,
or barter.
A Simple Model of the Marketing Process
Needs , wants ,
demands
Products
Value , cost &
satisfaction
Exchange and
transaction
Capture value from
customers in return
Markets
Marketers and
prospects
What is a Market?
 The set of actual
and potential buyers
of a product.
 These people share
a need or want that
can be satisfied
through exchange
relationships.
A Simple Model of the Marketing Process
Needs , wants ,
demands
Products
Value , cost &
satisfaction
Exchange and
transaction
Capture value from
customers in return
Markets
Marketers and
prospects
Marketers and Customers
Marketer types:
- Creative marketer
- Responsive marketer
Customer types:
-Potential customer
-Actual customer
GAME
Components of a Marketing
Plan