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    Lesson 1 Note 5ac1cd9598d69

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    Nawagamuwage Indika Perera
    The document discusses marketing as a transaction process between buyers and sellers. It provides definitions of marketing from several experts. Philip Kotler defines marketing as a social and managerial process through which individuals and groups obtain what they need by creating and exchanging products of value. Peter Drucker states that the aim of marketing is to understand customers so the product fits and sells itself. The document also includes graphs showing the change in market share for different insurance companies from 2000 to 2008.

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    Lesson 1 Note 5ac1cd9598d69

    Uploaded by

    Nawagamuwage Indika Perera
    35 views13 pages
    The document discusses marketing as a transaction process between buyers and sellers. It provides definitions of marketing from several experts. Philip Kotler defines marketing as a social and managerial process through which individuals and groups obtain what they need by creating and exchanging products of value. Peter Drucker states that the aim of marketing is to understand customers so the product fits and sells itself. The document also includes graphs showing the change in market share for different insurance companies from 2000 to 2008.

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    marketing

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    The document discusses marketing as a transaction process between buyers and sellers. It provides definitions of marketing from several experts. Philip Kotler defines marketing as a social and managerial process through which individuals and groups obtain what they need by creating and exchanging products of value. Peter Drucker states that the aim of marketing is to understand customers so the product fits and sells itself. The document also includes graphs showing the change in market share for different insurance companies from 2000 to 2008.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    35 views13 pages

    Lesson 1 Note 5ac1cd9598d69

    Uploaded by

    Nawagamuwage Indika Perera
    The document discusses marketing as a transaction process between buyers and sellers. It provides definitions of marketing from several experts. Philip Kotler defines marketing as a social and managerial process through which individuals and groups obtain what they need by creating and exchanging products of value. Peter Drucker states that the aim of marketing is to understand customers so the product fits and sells itself. The document also includes graphs showing the change in market share for different insurance companies from 2000 to 2008.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 13

    Marketing As A

    Transaction Process

    Buyer Seller
    Refer Lecture discussion
    Marketing Definitions
    Marketing is a Social and Managerial Process by
    which individuals and groups obtain what they need
    and want through creating and exchanging products
    and value with others.
    Philip Kotler

    Marketing is a management process responsible foe


    identifying , anticipating and satisfying customer
    requirements profitably

    CIM UK
    Marketing Definitions
    The aim of marketing is to know and understand the
    customer so well that the product or service fits him
    and sells itself.

    Peter Drucker
    “Marketing Takes The Lead+
    The biggest Value General Insurance Market Share

    Disruption 50.00%

    45.00%
    In
    Insurance?
    40.00%

    35.00%

    30.00%

    25.00%
    Market Share

    2000 2006
    20.00%

    45% 25%
    15.00%

    20% 37%
    10.00%

    5.00%

    0.00%

    2000 2001 2002 2003 2004 2005 2006 2007 2008 20

    Source; Year

    IBSL – Annual Report 1 2 3 4 5 6


    Company 1 Company 2 Company 3 Company 4 Company 5 Company 6 Company 7
    Value Re- engineering Model
    Value – Re-engineering to
    Reach Success
    Value – Re-engineering to
    Reach Success
    Corporate Perspective – Disruption
    Corporate Perspective – Disruption
    Corporate Perspective – Disruption
    Corporate Perspective – Disruption

    Kodak @ Peak 450,000 direct employs


    10 million indirect employees
    Corporate Perspective – Disruption

    70% of the Fortune 500 companies in 1970 do not


    in existence today

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