MARKETING AN INTRODUCTION

1 Armstrong/Kotler
Global Edition

Chapter 1:
An introduction to Marketing
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 Chapter Outline

Company and
Marketing
Marketing
Defined
Strategy

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 Customer Needs, Wants, and
Demands

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 Needs

The most basic concept underlying marketing is that of human

needs.
They include basic physical needs for food, clothing, warmth
and safety; social needs for belonging and affection; and
individual needs for knowledge and self-expression.
Marketers did not invent these needs; they are a basic part of the
human make-up. When a need is not satisfied, a person will do
one of two things:
1. look for an object that will satisfy it; or
2. try to reduce the need.
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 Wants

Wants are the form human needs take as they are shaped
by culture and individual personality.
For example:
At 7 pm, all of us may feel hungry! They need FOOD.
But:
- Huy may want to eat Banh mi
- Thuy may want to eat KFC
- Italian student may want to eat Pizza

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 Demands
People have narrow, basic needs (e.g. for food or shelter),
but almost unlimited wants. However, they also have
limited resources.
Thus, they want to choose products that provide the most
satisfaction for their money.

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 Example
A and B needs to contact with each other → They want a smartphone → A has limited
amount of money, A chose an average smartphone in the market (Oppo, maybe) but B is a
rich kid → Iphone 11 Max Pro.

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 Discussion Question

Describe an
example
including wants,
needs, and
demands?

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 Market
A market is the set of actual and potential buyers of a product.

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 Market Offerings

Customer needs and wants are fulfilled

through
market
offerings

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 Exchanges and relationships
Exchange is the act of obtaining a desired
object from
someone by
offering
something in
return

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 Customer value and satisfaction
Customer value—The consumer’s assessment of the
product’s overall capacity to satisfy his or her needs.
Customer satisfaction—The
extent to which a product’s
perceived performance
matches a buyer’s
expectations.
If the product’s performance
falls short of expectations, the
buyer is dissatisfied.
If performance matches or
exceeds expectations, the
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buyer is satisfied or delighted.
 What is MARKETING?

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 What is Marketing

•“Marketing is the science and art of exploring, creating, and

delivering value to satisfy the needs of a target market at a
profit.”
•“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.”

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 Marketing concept

- Focuses on customer needs, coordinates all the marketing

activities affecting customers and makes profits by creating
long-term customer relationships based on customer value and
satisfaction.

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 Group Discussion

Make a list of brands that have

impressive marketing campaigns that
you love recently.

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 The Changing Marketing
Landscape
Economic environment
Digital age
Rapid globalization
Not-for-profit marketing

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 Traditional Marketing vs Modern Marketing?

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 Traditional Marketing vs Modern Marketing?

Tradtional Marketing Modern Marketing

- Traditional marketing concept focuses on - Modern marketing concept focuses on
products only and it aims in production and customer’s need and wants and it aims in
marketing of products and gaining more meeting the customer’s satisfaction.
profit. - Modern marketing is customer oriented.
- Traditional marketing is profit oriented - Most commonly used modern marketing
- Most commonly used traditional marketing strategies are :
strategies are: v Internet ads
v Business cards v E-mail marketing
v TV and Radio ads v E-commerce website
v Flyers and brochures v Use of social media
v Telephone marketing

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 Grab Food

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 The Marketing’s Role

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 Marketing Process

(1) analysing marketing opportunities;

(2) selecting target markets;
(3) developing the marketing mix; and
(4) managing the marketing effort.

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