The document defines marketing as the process of creating, communicating, delivering, and exchanging offerings that provide value for customers, partners, and society. It notes that marketing is not just advertising or selling. It then discusses how marketing creates value for consumers by focusing on solutions rather than products and maximizing the benefit-cost for consumers. Finally, it explains that everyone in a business, including accountants, finance managers, operations, IT, and R&D, plays a role in marketing by helping to create and deliver value to customers.

1. Angela Hausman, PhD, http://www.hausmanmarketingletter.com

2. American Marketing
Association Definition
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.
Marketing is NOT: advertising or selling.
Angela Hausman, PhD, http://www.hausmanmarketingletter.com

3. What is Marketing ?
Creating Value
Consumers buy solutions not products
Consumers buy the “Best Solution”
Value is benefit - cost
Angela Hausman, PhD, http://www.hausmanmarketingletter.com

4. What is Marketing?
Communicating value
Advertising
Promotions
Word of mouth
Public relations
Sales
Angela Hausman, PhD, http://www.hausmanmarketingletter.com

5. What is Marketing ?
Distributing value
Product available where consumers search for them (place
utility)
Products in a form easily used by consumers (form utility)
Products available when consumers want them (time utility)
Products can be easily acquired through cash or financed
(possession utility)
Angela Hausman, PhD, http://www.hausmanmarketingletter.com

6. Who gains value in
marketing?
Consumers
Employees
Vendors and distributors
Financial institutions and stockholders who lend money to
the business
Society (concept of Corporate Social Responsibility)

7. How can this help you
succeed?
Provide strategic direction for your business
What is your mission? To maximize the value provided to
some segment.
What should you focus on? Value
How to distribute assets? In a manner that creates value for
at least 1 stakeholder.
All the money coming into a business comes from selling
to consumers

8. Who’s responsible for marketing
in your business?
Everyone plays a part
Accountants make sure bills are right and materials are
available for sales to happen
Finance managers make sure there’s cash flow to keep
operations going
Managers make sure employees are happy – happy
employees = happy customers

9. Who’s responsible for marketing
in your business?
Operations provide utilities to customers
IT – help communicate value and provide utilities to
consumers
Research and Develop – keeps a steady stream of
new solutions coming
Angela Hausman, PhD, http://www.hausmanmarketingletter.com