5. What is Marketing? Simply put: Marketing is the delivery of customer satisfaction at a profit.
6. Need, Exchange, Buyers People Who Exhibit Need Resources to Exchange Willingness to Exchange Unexpected Situational Factors Attitudes of Others Ethical Potential Buyers Market – Buyers who share a particular need or want that can be satisfied through exchange or relationships . Actual Buyers
7. Core Concepts of Marketing Product or Offering Value and Satisfaction Needs, Wants, and Demands Exchange and Transactions Relationships and Networks Target Markets & Segmentation Marketing Channels Supply Chain Competition Marketing Environment
8. Exchanges Transactions Relationships Building a Marketing Network Consisting of The Company and All Its Supporting Stakeholders How Do Consumers Obtain Products and Services?
9. Simple Marketing System Goods/services Money Industry (a collection of sellers) Market (a collection of Buyers) Communication Information
11. The Four Ps Marketing Mix The Four Cs Customer Solution Customer Cost Communication Conven- ience Product Price Promotion Place
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13. Customer Delivered Value Market Integrated marketing Profits through customer satisfaction Customer needs (b) The marketing concept Factory Existing products Selling and promotion Profits through sales volume Starting point Focus Means Ends (a) The selling concept
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15. Societal Marketing Concept Societal Marketing Concept Company (Profits) Consumers (Want Satisfaction) Society (Human Welfare)
18. Evolving Views of Marketing’s Role a. Marketing as an equal function Finance Production Marketing Human resources b. Marketing as a more important function Finance Human resources Marketing Production
19. Evolving Views of Marketing’s Role c. Marketing as the major function Marketing Finance Human resources Production d. The customer as the controlling factor Customer Human resources Finance Production Marketing
20. Evolving Views of Marketing’s Role The customer as the controlling function and marketing as the integrative function Customer Marketing Production Human resources Finance