1. Chapter 1
1
INTRODUCTION
TO MARKETING
MKT243 - Fundamentals of Marketing
2. What is Marketing
2
Definition of marketing
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.
For business to consumer marketing, it is "the process by
which companies create value for customers and build
strong customer relationships, in order to capture value
from customers in return"
MKT243 - Fundamentals of Marketing
4. Marketing Management Philosophy
4
Production concept
The firm’s focused on production only, this means, the
emphasis of this concept is to produce goods that are
greatly demand.
Selling concept
The firm’s focused on selling, simply means that
marketing need to aggressively promote their product by
either advertising, doing sales promotion and personal
selling in order to get more people to buy their product.
MKT243 - Fundamentals of Marketing
5. Marketing Management Philosophies
5
Marketing concept
In order to be successful in marketing, marketing
managers must work hard to determine and fulfill
customer needs and wants.
Societal concept
Determine the needs, wants and interest of target market
and to deliver the desired satisfaction more effectively
and efficiently than competitors in a way that preserves
or enhances the customer’s and society’s well-being.
MKT243 - Fundamentals of Marketing
6. Differences between Market and Sales Orientation
6
Sales Orientation Market Orientation
Inward – fulfill organizations Outward – fulfill wants and
needs preferences of customer
Selling goods and services Satisfying customers needs and
wants and delivering superior
value
Everybody Specific groups of people
Achieve profit through Achieve profit through
maximum sales volume customers satisfaction
Through intensive promotion Through coordinated marketing
and inter-functional activities
MKT243 - Fundamentals of Marketing
7. Marketing Process
7
Analyzing marketing opportunities
Selecting target market
Developing the marketing strategy by developing marketing mix
Managing the marketing effort
MKT243 - Fundamentals of Marketing
8. Marketing Process
8
Analyzing marketing opportunities
Marketers need to measure demand of their product and
do forecasting. Marketers need to consider the previous
sales and consider the current environmental factors that
may have impact on current demand.
Selecting target market
It requires marketing managers to do market
segmentation, market targeting and market positioning.
MKT243 - Fundamentals of Marketing
9. Marketing Process
9
Developing the market strategy by developing market
mix
Product - include all goods and services an organization
offers
Price - the amount of money buyers have to pay to obtain
goods
Place – place that customers easy to get products and
services
Promotion –communication that organization use to
influence customers to use and buy their products.
MKT243 - Fundamentals of Marketing
10. Marketing Process
10
Managing the marketing effort
this require marketing managers to do important
function which is analysis, planning, implementation,
and control
This can be done by analyzing the company’s market and
marketing environment to determine the
strengths/weaknesses and opportunity available
MKT243 - Fundamentals of Marketing
