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Marketing Is The Human Activity Directed at Satisfying Human Needs and Wants Through An Exchange Process'

The document contains definitions of marketing from several experts and organizations. Kotler defines marketing as a social and managerial process to satisfy needs through exchange. The Chartered Institute of Marketing defines it as the process of planning conception, pricing, promotion and distribution of ideas, goods and services to create exchanges. Dale Littler identifies five key aspects of marketing: wants identification, customer targets, appropriate offerings, customer satisfaction, and company goals.

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78 views

Marketing Is The Human Activity Directed at Satisfying Human Needs and Wants Through An Exchange Process'

The document contains definitions of marketing from several experts and organizations. Kotler defines marketing as a social and managerial process to satisfy needs through exchange. The Chartered Institute of Marketing defines it as the process of planning conception, pricing, promotion and distribution of ideas, goods and services to create exchanges. Dale Littler identifies five key aspects of marketing: wants identification, customer targets, appropriate offerings, customer satisfaction, and company goals.

Uploaded by

apesnani
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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‘Marketing is the human

activity directed at satisfying


human needs and wants
through an exchange process’

Kotler
‘Marketing is a social and
managerial process by which
individuals and groups obtain
what they want and need
through creating, offering and
exchanging products of value
with others’

Kotler
‘The societal marketing concept
holds that the organisation's task
is to determine the needs, wants,
and interests of target markets
and to deliver the desired
satisfactions more effectively and
efficiently than competitors, in a
way that preserves or enhances
the consumer's and the society's
well-being.’
Kotler
‘The right product, in the
right place, at the right
time, and at the right
price’
Adcock, et
al
‘Marketing is the management
process that identifies,
anticipates and satisfies
customer requirements
profitably’

The Chartered Institute of Marketing


‘The process of planning and
executing the conception,
pricing, promotion and
distribution of ideas, goods and
services to create exchanges
that satisfy individual and
organizational objectives.’
                                               AMA
FIVE KEY ASPECTS
Dale Littler

1. Wants Identification
2. Customer Targets
3. Appropriate Offerings
4. Customer Satisfaction
5. Company Goals
3CS ANALYSIS
Traditionally, marketing analysis
was structured into three areas:

 Customer analysis
 Company analysis

 Competitor analysis
Once a student of chemistry asked him, ‘I have
not been able to do the crystallization of
Naphthalene’.

To this, Dr. Sahib replied: “If you don’t read


Ghalib, how can you do
crystallization?”
Quoting Dr. Saleem-uz-Zaman
Siddiqui
THE CORE CONCEPTS OF MARKETING
Needs, Wants
and Demand

Products
(goods, services
and ideas)

Value, cost,
and
satisfaction

Exchange and
transactions

Relationships
and
network

Markets

Marketers and
prospects
SELLING AND MARKETING CONCEPTS
CONTRASTED
a) The Selling Concept
Starting point Focus Means Ends

Factory Products Selling and Profits through


Promoting sales volume

b) The Marketing Concept


Starting point Focus Means Ends

Target Customer Integrated Profits through


market needs marketing customer
satisfaction
THE PHILOSOPHY OF MARKETING &
THE MARKETING CONCEPT: I
 The ‘marketing concept’ is a customer
focused philosophy.

 The marketing concept is a philosophy, not


a system of marketing or an organizational
structure.

 It is founded on the belief that profitable


sales and satisfactory returns on investment
can only be achieved by identifying,
anticipating and satisfying customer needs
and desires. Barwell
THE PHILOSOPHY OF MARKETING &
THE MARKETING CONCEPT: II
 Marketing is not only much broader than selling,
it encompasses the entire business.
 It is not a specialized activity at all. It is the
whole business seen from the point of view of
the final result, that is, from the customer’s
point of view.
 Concern and responsibility for marketing must
therefore permeate all areas of the enterprise.
Drucker

THE MARKETING CONCEPT
choosing and targeting appropriate
customers
positioning your offering

interacting with those customers

controlling the marketing effort

continuity of performance
MARKETING & THE MARKETING
CONCEPT: IMPORTANT CONCLUSIONS

 Marketingfocuses on the satisfaction


of customer needs, wants and
requirements;
 Thephilosophy of marketing needs
to be owned by everyone from
within the organization;
 Future
needs have to be identified
and anticipated;
MARKETING & THE MARKETING
CONCEPT: IMPORTANT CONCLUSIONS

 There is normally a focus upon


profitability. However, as public
sector organizations and not-for-
profit organizations adopt the
concept of marketing, this need is
not always there.
 More recent definitions recognize
the influence of marketing upon
society.
MARKETING MYOPIA
THEODORE LEVITT        HBR – Jul/Aug 1960

Incorrect Assumptions

 Growth

 No Competitive Substitute
 Economies of Scale -->Higher
Consumption
 Technology Push vs Market Pull
ESSENTIAL FEATURES OF
“REAL MARKETING”
                            

M. BAKER

1. Start With Customer


2. A Long-Run Perspective
3. Full Use Of “All” Company
Resources
4. Innovation
DEFINITION OF A VISION
A Vision is defined as 'An image of
the future we seek to create'.

DEFINITION OF A MISSION
A Mission is defined as 'Purpose,
reason for being'. Defined simply
"Who we are and what we do".
MICROSOFT VISION
A personal computer in every
home running Microsoft
software.
MICROSOFT MISSION
At Microsoft, we work to help
people and businesses
throughout the world realize
their full potential. This is our
mission. Everything we do
reflects this mission and the
values that make it possible.
SONY VISION
To elevate Japanese culture.
Sony Mission Statement"
To experience the joy of
advancing and applying
technology for the benefit of the
public.
MCDONALD’S VISION
McDonald's vision is to be the
world's best quick service
restaurant experience. Being the
best means providing outstanding
quality, service, cleanliness, and
value, so that we make every
customer in every restaurant smile.
MCDONALD’S MISSION
 Be the best employer for our people
in each community around the world,
 Deliver operational excellence to our
customers in each of our restaurants,
and
 Achieve enduring profitable growth by
expanding the brand and leveraging
the strengths of the McDonald's
system through innovation and
technology.

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