Marketing

What is Marketing…??
Selling?
Advertising?
Promotions?
Making products available in stores?
Maintaining inventories?

 All of  the above, plus much more!
Marketing = ?
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals
 American Marketing Association
Marketing = ?
Marketing management is the art and science  of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
Simple Marketing System
Marketing = ?
Marketing is the sum of all activities that take you to a sales outlet. After that sales takes over.
Marketing is all about creating a pull, sales is all about push.
Marketing is all about managing the four P’s –
product
price
place
promotion
The 4 Ps & 4Cs

Scope – What do we market
Goods
Services
Events
Experiences
Personalities
Place
Organizations
Properties
Information
Ideas and concepts
Core Concepts of Marketing
Based on :
Needs, Wants, Desires / demand
Products, Utility, Value & Satisfaction
Exchange, Transactions & Relationships
Markets, Marketing & Marketers.

Core Concepts of Marketing
Core Concepts of Marketing
Need – food ( is a must )
Want – Pizza, Burger, French fry's ( translation of a need as per our experience )
Demand – Burger ( translation of a want as per our willingness and ability to buy )
Desire – Have a Burger in a five star hotel
In order to understand Marketing let us begin with  the  Marketing Triangle
Who is a Customer ??
Customer –
CUSTOMER has needs, wants, demands and desires
Understanding these needs is starting point of the entire marketing
These needs, wants …… arise within a framework or an ecosystem
Understanding both the needs and the ecosystem is the starting point of a long term relationship

How Do Consumers Choose Among Products & Services?
Value - the value or benefits the customers gain from using the product versus the cost of obtaining the product.
Satisfaction - Based on a comparison of performance and expectations.
Performance > Expectations  =>  Satisfaction
Performance < Expectations  =>  Dissatisfaction