chapter 1 what is marketing? the delivery of customer satisfaction at a profit 1-1

Chapter 1What is Marketing?

The delivery of customer satisfaction at a profit

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Who Uses Marketing?

• Large and small organizations

• Businesses

• Non-profit agencies

• Government

• Domestic or global scale operations

• Individuals…you

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Marketing Defined:core marketing concepts

• Needs• Wants• Demands

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Marketing Defined:core marketing concepts

• Products• Services

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Marketing Defined:core marketing concepts

• Value• Satisfaction• Quality

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Marketing Defined:core marketing concepts

• Exchange• Transactions• Relationships

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Marketing Defined:core marketing concepts

• Markets• Buyers• potential• actual

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Marketing Defined:core marketing concepts

Market:a collection of

buyers

Market:a collection of

buyers

Industry:a collection of

sellers

Industry:a collection of

sellers

Communication

Products/Services

Money

Information

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Marketing Defined:core marketing concepts

SuppliersSuppliers

CompetitorsCompetitors

Marketingintermediaries

Marketingintermediaries

End usermarket

End usermarket

Environment

Company(marketer)

Company(marketer)

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Marketing Management Defined

• Marketing Program

• analysis

• planning

• implementation

• control

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Marketing Management Defined

• Beneficial Relationships with Target Buyers

• create

• build

• maintain

• Purpose

• achieving organizational objectives

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Marketing Management

• Demand Management• level of demand• timing of demand• nature of demand

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Marketing Management

• Building Profitable Customer Relationships

• understanding• working with them• retaining them• building lasting

relationships

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Marketing Management Philosophies

FactoryExistingproducts

Selling and promoting

Profits throughsales volume

Market

Customerneeds

Integratedmarketing

Profits throughsatisfaction

Startingpoint

Focus Means Ends

The selling concept

The marketing concept 1-21

Marketing Management Philosophies

• The Marketing Concept

• Focus on customer wants and needs

• Delivering satisfaction

• more effectively than competition

• more efficiently than competition

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Marketing Management Philosophies

• The Societal Marketing Concept

• Maintain or improve well-being of consumers and society

• Focus on customer wants and needs

• Delivering satisfaction

• more effectively than competition

• more efficiently than competition1-22

Future Marketing Challenges

• Growth of non-profit marketing

• Boom in information technology use

• Rapid globalization

• Changing world economy

• Call for ethics and social responsibility

• New landscape for marketing

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