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themarketingcamp.info

Introduction

Fall 2009

BA 3365 Principles of Marketing

Vignesh

1© 2009 – 2010 Vignesh


What is Marketing? Selling Advertising Spamming, Tele Sales, Surveying Making people buy things they really don’t want to

buy is cheating people! (not really!)

2© 2009 – 2010 Vignesh


Defining Marketing AMERICAN MARKETING ASSOCIATION (AMA) AMA Definition (adopted in 2007)

o Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Previous AMA Definition (adopted in 2004)o Marketing is an organizational function and a set of processes

for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

3© 2009 – 2010 Vignesh


Marketing actually is about creating customer value about

o Discovering ando Satisfying consumer needs and wants.

• (profitably)

4© 2009 – 2010 Vignesh


The 4 prerequisites Four requirements for marketing to occur.

(1) Two or more parties with unsatisfied needs

(2) the desire and ability on their part to be satisfied

(3) a way for the parties to communicate and (4) something to exchange.

5© 2009 – 2010 Vignesh


The Marketing Department

6© 2009 – 2010 Vignesh


Factors influencing Marketing Program

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Marketing is the involved process of determining the 3 C’s and 4 P’s of the Marketing

Mix3 C’s

Customer CompanyCompetition

4 P’sProduct PricePromotionPlace

(Distribution)

8© 2009 – 2010 Vignesh


A brief history

9© 2009 – 2010 Vignesh


Why marketing became so important?

Production era:o production was scarce, products would sell themselves.

Sales era:o Production exceeds consumption of regular buyers.o Hire salespersons to sell what we produce.

10© 2009 – 2010 Vignesh


The Marketing Concept (1960 – 80)“ we are in the business of satisfying needs and wants

of customers.”

An organization shouldo strive to satisfy needs of consumerso While also achieving the organizations’ goals

11© 2009 – 2010 Vignesh


Market Orientation Concept (1980 - )

An huge effort in the “marketing concept” focus led to the “market orientation” concept

An organization with market orientation focuses ono continuously collecting information about

consumer needso sharing this information across all departments

o Using it to create “customer value”

12© 2009 – 2010 Vignesh

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