Post on 11-May-2017
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Introduction
Fall 2009
BA 3365 Principles of Marketing
Vignesh
1© 2009 – 2010 Vignesh
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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!)
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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
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Marketing actually is about creating customer value about
o Discovering ando Satisfying consumer needs and wants.
• (profitably)
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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.
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The Marketing Department
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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)
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A brief history
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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.
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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
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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”
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A typical Marketing Department
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Questions / Comments?See you Monday.
14© 2009 – 2010 Vignesh