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CHAPTER 1:
OVERVIEW OF
MARKETING
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LEARNING OUTCOMES
1.0 Explain marketing
1.1.1 Define marketing1.1. O!tline t"e fi#e $tep$ in marketing pr%&e$$
1. I'entif( t"e marketpla&e an' &!$t%mer nee'$
1..1 I'entif( t"e fi#e &%re &!$t%mer an' marketpla&e &%n&ept$
C!$t%mer nee'$) *ant$ an' 'eman'$
Market %ffering$ + pr%'!&t$) $er#i&e$ an' experien&e$
C!$t%mer #al!e an' $ati$fa&ti%n
Ex&"ange$ an' relati%n$"ip$
Market$
1., I'entif( a &!$t%mer+'ri#en marketing $trateg(
1.,.1 Di$&!$$ marketing &%n&ept$
-r%'!&ti%n &%n&ept
-r%'!&t &%n&ept
Selling &%n&eptMarketing &%n&ept
S%&ietal marketing &%n&ept
1. Explain t"e ma/%r tren'$ an' f%r&e$ t"at are &"anging t"e marketing lan'$&ape
1..1Explain t"e 'igital age
1.. De$&rie rapi' gl%aliati%n
1.., Di$&!$$ t"e &all f%r m%re et"i&$ an' $%&ial re$p%n$iilit(
1.. I'entif( t"e gr%*t" %f n%t+f%r+pr%fit marketing
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1-3
What Is Marketing?According to Kotler and Armstrong
(2010)
Marketing is the process by
which companies createvalue for customers andbuild strong customerrelationships to capture
value from customers inreturn
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1-!
What Is Marketing Process?
1 "dentify needs of mar#et
2 $evelop mar#et-oriented mar#etingstrategy
3 $evelop mar#eting mi% (!&'s) strategy! $evelop relationships with customers
and partners
ain value from customers
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De#el%p market+%riente'
marketing $trateg(
De#el%p marketing mix
2-3$4 $trateg(
De#el%p relati%n$"ip$ *it"
&!$t%mer$ an' partner$
Gain #al!e fr%m &!$t%mer$
I'entif( nee'$ %f market
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us omer an ar e p aceConcepts
Customer
and
Marketpa!e
Con!epts
Customer Needs" Wants" #emands
Market O$$er%n&'
Produ!ts" (er)%!es and E*per%en!e
Customer Vaue
and (at%s$a!t%on
E*!+an&es and Reat%ons+%p
Markets
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Customer and Marketpa!e
Con!epts
Needs Definiti%n
Example
Wants
#emands
Definiti%n
Definiti%n
A re5!irement f%r $%met"ingne&e$$ar( in a per$%n3$ life
6 -"($i&al 7 f%%') &l%t"ing) *armt")6$afet(
6 S%&ial 7 el%nging) affe&ti%n6 In'i#i'!al 7 kn%*le'ge an' $elf+expre$$i%n
T"e f%rm %f "!man nee'$ take a$
$"ape$ ( &!lt!re an' in'i#i'!al per$%nalit(
8!man *ant$ t"at are a&ke'
( !(ing p%*er
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Customer and Marketpa!e
Con!epts
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Customer and Marketpa!e
Con!epts
Market O$$er%n&
S%me &%minati%n %f ) )
inf%rmati%n) %r experien&e$ %ffere' t% a market
t% $ati$f( nee'$ an' *ant$
produ!ts ser)%!es
An(t"ing t"at &an e %ffere' t% a market f%r attenti%n) a&5!i$iti%n) !$e %r &%n$!mpti%n t"at
mig"t $ati$f( a *ant %r nee'.
9enefit$ %f t"e pr%'!&t %ffering t%
t"e &%n$!mer$ rat"er t"an /!$t t"e
pr%'!&t it$elf
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Customer and Marketpa!e
Con!epts
Vaue Definiti%n
Example
(at%s$a!t%on
,ua%t-
Definiti%n
Definiti%n
T"e 'ifferen&e et*een t"e enefit %negain$ fr%m a pr%'!&t an' t"e &%$t$
in&!rre' in
In term$ %f le#el %f $ati$fa&ti%n)
pr%'!&t 5!alit() *%rt" %f m%ne(
A feeling *"en enefit$ %f t"e pr%'!&t %r
$er#i&e meet t"e &!$t%mer3$ expe&tati%n
:ree'%m fr%m 'efe&t
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Customer and Marketpa!e
Con!epts
E*!+an&e Definiti%n
Transa!t%on
Reat%ons+%p
Definiti%n
Example
Definiti%n
T"e a&t %f %taining a 'e$ire' %/e&t fr%m $%me%ne ( %ffering $%met"ing
in ret!rn
A tra'e #al!e$ et*een partie$
m%ne() arter $($tem
A&ti%n$ taken t% !il' an' maintain 'e$irale&%nne&ti%n *it" target a!'ien&e$ in#%l#ing
a pr%'!&t) $er#i&e) i'ea %r %t"er %/e&t.
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Customer and Marketpa!e
Con!epts
E*!+an&e
Transa!t%on
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Customer and Marketpa!e
Con!epts
Market Definiti%n T"e $et %fa pr%'!&t %r $er#i&e
a!tua and potent%a.u-ers
C%n$!mer
G%#ernment
Re$eller
9!$ine$$
Internati%nal
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Customer and Marketpa!e
Con!epts
Market%n& Definiti%n Managing market$ t% ring pr%fitaleex&"ange relati%n$"ip ( &reating #al!e
an' $ati$f(ing nee'$ an' *ant$
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Market%n& Con!epts
Marketing &%n&ept$ des!r%.e market%n& mana&ement or%entat%ons %f a
&%mpan(. It i$ a p"il%$%p"( !$e' ( a &%mpan( %n "%* t% &%n'!&t it$
marketing a&ti#itie$. 9e$i'e$ t"at) t"e$e p"il%$%p"ie$ are elie#e' (
marketer$ t% e ale t% &reate a pr%fitale !$ine$$.
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Market%n& Con!epts
Produ!t%on Con!ept
Definiti%n
T"e i'ea t"at &%n$!mer$ *ill fa#%r
produ!ts t+at are a)a%a.e or
+%&+- a$$orda.e
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/0 Market%n& Con!epts
Produ!t Con!ept
Definiti%n
T"e i'ea t"at &%n$!mer$ *ill
fa#%r produ!ts t+at o$$er t+e most
ua%t-" per$orman!e" and $eatures0
Organiati%n $"%!l' t"eref%re
'e#%te it$ energ( t% making
&%ntin!%!$ pr%'!&t impr%#ement$.
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Market%n& Con!epts
(e%n& Con!ept
Definiti%n
T"e i'ea t"at !onsumers 2% not
.u- enou&+ o$ t+e $%rm3s produ!ts
uness %t undertakes a ar&e
s!ae se%n& and promot%on
e$$ort
:a&t%r(
Starting p%int :%&!$ Mean$ En'$
Exi$ting
pr%'!&t
Selling ;
-r%m%ti%n
-r%fit$ t"r%!g"
$ale$ #%l!me
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Market%n& Con!epts
Market%n& Con!ept
Definiti%n
t"e marketing managementp"il%$%p"( t+at +ods t+at a!+%e)%n&
or&an%4at%ona &oas depends on
kno2%n& t+e needs and 2ants o$
tar&et markets and de%)er%n& t+e
des%red sat%s$a!t%on .ettert+an !ompet%tors do
Market
Starting p%int :%&!$ Mean$ En'$
C!$t%mer nee'$
Integrate'marketing
-r%fit$ t"r%!g"&!$t%mer
$ati$fa&ti%n
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Marketing C%n&ept$
(o!%eta Market%n& Con!ept
Definiti%n
t"e i'ea t"at a !ompan- s+oud
make &ood market%n& de!%s%ons
.- !ons%der%n& !onsumers3
2ants" t+e !ompan-3sreu%rements" !onsumers3
on&'term %nterests" and
so!%et-3s on&'run %nterests
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Marketing C%n&ept$
(o!%eta Market%n& Con!ept
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1-22
* +he ,ew $igital Age
* lobaliation
* .thics and /ocial esponsibility
* +he rowth for ,ot-for-prot mar#eting
Challenges in Marketing / The New Marketing Landscape
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1-23
The New Digital Age* ecent technolog! has had a maor impact
on the ways mar#eters connect with and bringvalue to their customers
* ar#et research* 4earning about and trac#ing customers
* 5reate new customied products
* $istribution
* 5ommunication* 6ideo conferencing
* 7nline data services
Challenges in Marketing / The New Marketing Landscape
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1-2!
The New Digital Age
Internet8creates mar#etplaces
and ar#etspaces* "nformation
* .ntertainment
* 5ommunication
Challenges in Marketing / The New Marketing Landscape
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1-2
apid "lo#ali$ation
* +he world is smaller
* +hin# globally9 act locally
Challenges in Marketing / The New Marketing Landscape
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1-2:
The Call %or More &thics and 'ocialesponsi#ilit!
ar#eters are being called upon to ta#egreater
responsibility for the social and
environmentalimpact of their actions in a global
economy
Challenges in Marketing / The New Marketing Landscape
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1-2;
The Call %or More &thics and 'ocialesponsi#ilit!
'ocial marketing campaigns encourageenergy
conservation and concern for the
environment ordiscourage smo#ing9 e%cessive drin#ing9
and drug
use
Challenges in Marketing / The New Marketing Landscape
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1 2<
The "rowth %or Not(%or(Pro)tMarketing
* 5olleges
* =ospitals* useums
* >oos
* 7rchestras* eligious groups
Challenges in Marketing / The New Marketing Landscape