1. Page 1
Defining Marketing
Marketing is a societal process by
which individuals and groups obtain
what they need and want through
creating, offering, and freely
exchanging products and services of
value with others.
- Philip Kotler
2. Page 2
Core Concepts of Marketing
Product or OfferingProduct or Offering
Value and SatisfactionValue and Satisfaction
Needs, Wants, and DemandsNeeds, Wants, and Demands
Exchange and TransactionsExchange and Transactions
Relationships and NetworksRelationships and Networks
Target Markets & SegmentationTarget Markets & Segmentation
Marketing ChannelsMarketing Channels
Supply ChainSupply Chain
CompetitionCompetition
Marketing EnvironmentMarketing Environment
3. Page 3
Simple Marketing System
Industry
(a collection
of sellers)
Market
(a collection
of Buyers)
Goods/services
Money
Communication
Information
5. Page 5
The Four PsThe Four Ps
Marketing
Mix
Product
Price Promotion
Place
The Four Cs
Customer
Solution
Customer
Cost
Communication
Conven-
ience
6. Page 6
Production ConceptProduction Concept
Product ConceptProduct Concept
Selling ConceptSelling Concept
Marketing ConceptMarketing Concept
Consumers prefer products that are
widely available and inexpensive
Consumers favor products that
offer the most quality, performance,
or innovative features
Consumers will buy products only if
the company aggressively
promotes/sells these products
Focuses on needs/ wants of target
markets & delivering value
better than competitors
Company Orientations Towards
the Marketplace
11. Page 11
Evolving Views of Marketing’s
Role
a. Marketing as an
equal function
FinanceProduction
Marketing Human
resources
b. Marketing as a more
important function
Finance
Human
resources
Marketing
Production
12. Page 12
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
H
um
an
resources
Finance
Production
M
arketing
13. Page 13
Evolving Views of Marketing’s
Role
e. The customer as the controlling
function and marketing as the
integrative function
Customer
Marketing
Production
Human
resources
Finance