UNIVERSITY OF NAIROBI

SCHOOL OF BUSINESS & MANAGEMENT SCIENCES

LPM 105 MARKETING MANAGEMENT
INTRODUCTORY SESSION 1
DATE: 04/03/2023 & 6/ 03/2023 LECTURER: A.V. MONAYO

What is marketing? Marketing is a human activity directed at satisfying needs, wants,

through exchange process.
Needs- Fundamentals concept in underlying marketing is that of human needs
A need is a state of felt deprivation in a person- needs are complex refer Maslow
hierarchy of needs.
Wants - wants are a form that human needs take as shaped by persons culture and
individuality. Wants are dynamic demands- wants become demands when backed by
purchasing power

Products – product are offered to the market for attention, acquisition, or consumption
that might satisfy a want or need.

Exchange – exchange is that of obtaining as desired object from someone by offering

something in return..
Exchange is the core concept in marketing discipline five condition exist in exchange
There are at least two parties
(i) Each party has something that is value to another party.
(ii) Each party is capable of communicating and delivery.
(iii) Each party is free to accept or reject the other party offer.
(iv) Each party believeth appropriate or desirable to deal with the other party.

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Transactions: A transactions involves several measurable entities
(1) At least two things of value,
(2) Conditions that are agreed to
(3) Time of agreement t
(4) A force of agreement
Markets: A market is a set of actual and potential buyers of a product.
Marketing – Human activity that takes place in relation to markets
Marketing is working with markets to actualize potential exchanges for purposes of
satisfying human needs and wants. A human activity directed at satisfying needs and
wants through exchange process.
Exchange process involve work seller have to search for buyers
Identify their needs, design appropriate products, promote them, store and transport them
negotiate etc. activities like product development, search, communication, distribution,
pricing and service constitute core marketing activities.
 Marketing first task is discovering consumer needs
 Marketing moves on to identify suitable markets referred to as “Target market”
which is one or more specific groups of potential consumer, which an organization
directs its target programme.
The four is controllable marketing mix factors;
 Target market set :Firm must satisfy the customer needs
 Marketing management must develop a programme to reach consumer by use of 4
Ps’ (Product, Price, Place and Promotion)
 4 Ps are used to solve a marketing problem they are known as controllable factors
because the area under the marketing department in an organization.

The Uncontrollable Environment Factors

- These are beyond management control

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 - These are political, legal, social economic and technological factors they are
uncontrollable.
Creating Customer Relationships and Value through Marketing
Customer value is a unique combination of benefits received by target buyers and
includes quality, price, and convenience, on time delivery, pre and after sales service.

Relationship Marketing
New concept of linking the customer with the organization, employees, suppliers and
other partners for their mutual gain and benefits
The marketing programme
Relationships helps in marketing to effective discover what customers needs the
marketing programme facilities these goals. This encompasses of:-
(i) Listening to consumers ahead of trends
(ii) Focusing the marketing programme on key regulations
(iii) Exploiting strategies in technology
Evolution of marketing
1) Production era
2) Sales era
3) Marketing concept
4) Customer era – orientation and c.r.m. (consumer relationship management)

Marketing management
Marketing management is the analysis, planning implementation and control of
programmes designed to create, build and maintain beneficial exchange with target
buyers for purposes of training organization objectives
Causes of ethical problems in marketing
 Narrow self interest
 Stunted moral growth
 Rationalization
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  Distancing firm responsibility
 External pressures
 Authority
 Tunnel vision
 Communication break down

EFFECTIVE METHODS AVOID ETHICAL LAPSES

 Introduction ethics education
 Do a P and Audit (policy & Procedure )
 Stick to fundamentals
 Cultivate moral invitation
 Use guidelines to avoid rationalization
 Lead by example
 Make ethics part of dialogue
 Emphasizes responsibility and accountability
 Foster communication and push back
 Make general awareness of ethics

Social responsibility in marketing

Concept of societal marketing
Views the organization in terms of needs satisfaction of consumers as well as societal
wellness.
Macro marketing – examines aggregate flow of nation’s goods and services to benefit
society. Addressing issues like wasteful advertising, pollution and resources scarcities
Micro-marketing – Examines how resources are allocated to benefit the customers

Importance of marketing in economic development

1. Marketing is a connecting link between consumer and producers

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2. Market helps increase the living standards of people
3. Market helps increase nations income.
4. Marketing increases employment opportunities
5. Marketing creates modern cultivators.
6. Marketing removes imbalance of supply through transfer to deficit areas.
7. Market helps in maintaining economic development and stability
8. Market helps creation of utilities, form, place, time and possession.

~END OF SESSION ~

REFERENCE READING
1. Marketing information and research
a. What nature of marketing information

b. Marketing information systems

c. Marketing research objectives / research process

d. Major areas of marketing research ,marketing research process / methods

of primary and secondary data collection, (Merits & Demerits) limitations

of marketing Research
(kindly read and make notes)