lect2 12.9.14 (marketing concepts)
TRANSCRIPT
What does marketing Means to you?
‘Marketing’ means different things to different people
The Marketing Function is the Process of bringing Buyers and Sellers together
PRODUCERS
MARKETING
Marketing is Performed by All Organizations
CONSUMERS
Simple Marketing System
Industry(a collection
of sellers)
Market(a collection
of Buyers)
Goods/services
Money
Communication
Information
Marketing is not just about advertisement and Sales promotion
Marketing is a Philosophy
Way of doing a business
• The Industrial Revolution gave rise to large scale manufacturing, so this personal contact ended.
• With mass production came mass markets and mass distribution.
• Manufacturers were no longer able to offer a personalised service, and techniques of marketing were developed to fill this gap.
Evolution of Business Models and the role of Marketing
Societal
Mktg
MarketingSellingProductProduction
As business philosophy has evolved, so has the role of marketing…customer satisfaction is now
at the core of most successful corporations
Marketing Philosophies
Production Concept:
•The whole focus of the company is the production
•Give them better and cheaper products
•we can do this by :
•company improving
• production
•distribution
•Good method if:
•demand is higher than supply
•cost of producing is too high
Consumers wanted just basic transportation at an
affordable price
Ford Model T car
Marketing Philosophies
Product Concept:
•The whole focus is to improve the product features
make the product better
•The idea is that if we make it better they will keep buying it
•problem with this:
•May be the customers want something different
•other products may replace this product
Marketing Philosophies
Selling Concept:
•The company pushes promotion and advertising
•The idea is that the more we promote, the more they will buy
•we use this method to educate and tell the customers about
the product or service
•This is not a complete process. starts with the product then
they sell....unlike the marketing process
Marketing Philosophies
Marketing Concept: (this is the one we will use)
•this is a complete approach
•process:
•first find out the needs and wants of customers
•then develop and deliver the goods that will satisfy these
needs and want
•this process starts with the needs and wants and then builds
the product...unlike the selling concept
•most major successful companies use this concept
Marketing Philosophies
Societal Marketing Concept:
•This is the newest marketing philosophy
•It is the marketing concept with a conscience
•they think of what is good for society
•they think about environmental items
•they think about a better life for people
•they think about the world and social impact
Designing a Customer-Driven Marketing Strategy
Production Concept
Product Concept
Selling Concept
Marketing Concept
Consumers prefer products that are widely available and inexpensive
Consumers favor products that offer the most quality, performance, or innovative
features
Consumers will buy products only ifthe company aggressively
promotes/sells these products
Focuses on needs/ wants of target markets & delivering value better than
competitors
Company (Orientations, Philosophies, Concepts) Towards the Marketplace
Societal Marketing Concept
Focuses on needs/ wants of target markets & delivering value better than
competitors that preserves the consumer’s and society’s well-being
Thank you