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OVERVIEW OF
MARKETING
LEARNING OUTCOMES
1.0 Explain marketing
1.1.1 Define marketing
1.1.2 Outline the five steps in marketing process
1.2 Identify the marketplace and customer needs
1.2.1 Identify the five core customer and marketplace concepts
Customer needs, wants and demands
Market offerings - products, services and experiences
Customer value and satisfaction
Exchanges and relationships
Markets
1.3 Identify a customer-driven marketing strategy
1.3.1 Discuss marketing concepts
Production concept
Product concept
Selling concept
Marketing concept
Societal marketing concept
1.4 Explain the major trends and forces that are changing the marketing landscape
1.4.1Explain the digital age
1.4.2 Describe rapid globalization
1.4.3 Discuss the call for more ethics and social responsibility
1.4.4 Identify the growth of not-for-profit marketing
What Is Marketing?
According to Kotler and Armstrong
(2010)
1-3
strategy
3. Develop marketing mix (4Ps) strategy
4. Develop relationships with customers
and partners
5. Gain value from customers
1-4
Develop market-oriented
marketing strategy
1-5
Customer
and
Marketplace
Concepts
Markets
Definition
Example
Wants
Definition
Demands
Definition
Definition
Example
Satisfaction
Definition
Quality
Definition
Definition
Transaction
Definition
Example
Relationship
Definition
Transaction
Definition
Consumer
International
Reseller
Government
Business
Definition
Marketing Concepts
Marketing concepts describe marketing management orientations of a
company. It is a philosophy used by a company on how to conduct its
marketing activities. Besides that, these philosophies are believed by
marketers to be able to create a profitable business.
Marketing Concepts
Production Concept
Definition
4. Marketing Concepts
Product Concept
Definition
Marketing Concepts
The idea that consumers will not
buy enough of the firms products
unless it undertakes a large
scale selling and promotion
effort
Selling Concept
Definition
Starting point
Focus
Means
Ends
Factory
Existing
product
Selling &
Promotion
Profits through
sales volume
Marketing Concepts
Marketing Concept
Definition
Starting point
Market
Focus
Customer
needs
Ends
Profits through
customer
satisfaction
Marketing Concepts
Societal Marketing Concept
Definition
Marketing Concepts
Societal Marketing Concept
1-22
1-24
Rapid Globalization
The world is smaller
Think globally, act locally
1-25
1-28