• • • • • • • What is marketing Evolution of Marketing Marketing philosophies Scope of marketing The concept of exchange The concept of value The need to study Marketing
Marketing at its very core is the Process through which VALUE is exchanged
The official definition
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
American Marketing Association Definition
Marketing is not a function It is a way of doing business
Modern Focus on Customer
any and all activities
that directly or ...view middle of the document...
Wants - form that a human need takes, as shaped by culture and individual personality.
This Is Demand
Wants Buying Power
– Do not offer me things – Do not offer me clothes, offer me attractive looks – Do not offer me shoes, Offer me comfort for my feet and the pleasure of walking – Do not offer me a house, offer me security, comfort, and a place that is clean and happy – Do not offer me books, Offer me hours of pleasure and the benefit of knowledge – Do not offer me things, Offer me ideas, emotions, ambience, feelings, benefits and experience – Please, do not offer me things
Why study Marketing Although a number of advantages come from functions other than marketing But these advantages can only be exploited through marketing...