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    Chapter 1 - Overview of Marketing

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    MA Valdez
    Marketing refers to exchange activities conducted by individuals or organizations to satisfy human wants and needs while accomplishing individual or organizational objectives. There are several definitions of marketing provided by different authors that see it as discovering consumer wants, facilitating product transfers, or satisfying needs through exchange. The marketing concept focuses on determining consumer needs and wants before developing products to satisfy them more effectively than competitors. Marketing involves variables like product, price, place, and promotion that are under a company's control, as well as external environmental factors.

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    Chapter 1 - Overview of Marketing

    Uploaded by

    MA Valdez
    167 views18 pages
    Marketing refers to exchange activities conducted by individuals or organizations to satisfy human wants and needs while accomplishing individual or organizational objectives. There are several definitions of marketing provided by different authors that see it as discovering consumer wants, facilitating product transfers, or satisfying needs through exchange. The marketing concept focuses on determining consumer needs and wants before developing products to satisfy them more effectively than competitors. Marketing involves variables like product, price, place, and promotion that are under a company's control, as well as external environmental factors.

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    Marketing refers to exchange activities conducted by individuals or organizations to satisfy human wants and needs while accomplishing individual or organizational objectives. There are several definitions of marketing provided by different authors that see it as discovering consumer wants, facilitating product transfers, or satisfying needs through exchange. The marketing concept focuses on determining consumer needs and wants before developing products to satisfy them more effectively than competitors. Marketing involves variables like product, price, place, and promotion that are under a company's control, as well as external environmental factors.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    167 views18 pages

    Chapter 1 - Overview of Marketing

    Uploaded by

    MA Valdez
    Marketing refers to exchange activities conducted by individuals or organizations to satisfy human wants and needs while accomplishing individual or organizational objectives. There are several definitions of marketing provided by different authors that see it as discovering consumer wants, facilitating product transfers, or satisfying needs through exchange. The marketing concept focuses on determining consumer needs and wants before developing products to satisfy them more effectively than competitors. Marketing involves variables like product, price, place, and promotion that are under a company's control, as well as external environmental factors.

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    © All Rights Reserved
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    of 18

    Chapter 1

    An Overview of Marketing
    What is Marketing?
     “ transportation of the goods from the point of production to the consumer and
    all the transactions involved in getting goods from the producers to the
    consumer” Converse and Huegy
     “ the process of discovering and translating consumer wants into
    product and service specifications, and then in turn helping o make
    Impossible for more and more consumers to enjoy more and more of
    these products and services.” Hansen

     “ performance of business activities which directs the flow of goods


    and services from producer to consumer or user in order to satisfy
    customers and accomplish the company's objectives” McCarthy
     “ managerial process by which products are matched with markets and
    through which transfer of ownership are effected” Cundiff, Stell and Govoni

     “ individual and organizational activities aimed at facilitating and expediting


    exchanges within a set of dynamic environment forces.” Pride & Ferrell

     “ Human activity directed at satisfying needs and wants through exchange


    processes” Kotler

     Staton
    1. “the macro-societal dimension-which refers to any exchange intended to
    satisfy human wants or needs.”
    2. “the micro-organizational definitions-which refers to the total system of
    activities designed to plan,price, promote and distributive want satisfying goods
    and services to markets.”
    Our definition of Marketing
    Marketing refers to exchange activities
    conducted by individuals or
    organizations for the purpose of
    satisfying human wants with the view
    of accomplishing the individual or
    organizational objectives.
    Tag questions

     Explain in your own words what a need is.?


     Give three examples of products that you want to have and the reasons why
    you want to have them?
    Some basic terms to understand:
     Exchange- this term refers to the act of obtaining a desired product or device
    from an individual or a group by offering something in return. Ex. P10.00 for 1
    bottle of coke

     Human need- this term refers to something that is required by human being for
    the health and well-being oh his body and mind. Ex. Need for food

     Human want- a human want exist when a person is in a state of unfilled need
    and is aware at same time, of a particular object that will best satisfy the need,
    but still has to posses the object. Ex. Education but still has to enroll and finish
    a course in that university.

     Objective- this term refers to the desired result of an activity. Ex. Businessmen
    who desires for profits in their business undertakings, individuals who desire for
    promotion of certain ideas like convincing others in the importance of forest
    conservation.
    The Marketing Concept
     Products and services are really meant to satisfy
    the wants and needs of customers. It will be safe,
    therefore, for a firm to start with findings out
    what the customers want before any decision
    affecting the firm is made. In essence, this is
    what the marketing concept is all about. Although
    the organization has a goal to achieve, its
    realization depends on the patronage provided by
    the customers. In business firm, profits come as a
    result of satisfaction derived by the customers
    from the products or services of the firm.
    Kotler’s Perspective ( 3 Concept)
     1. The Product Concept- where the firm decides to produce a
    product or service first, and then looks for interested buyers later.

     2. The Selling Concept- where the firm decides to produce or service


    first, and then concentrates on selling the same to a group of
    perceived customers.

     3. The Marketing Concept- where the firm first determines the


    needs, wants and values of a target market, then adapts the firm to
    satisfy these needs and wants more efficiently and effectively than its
    competitors.
    The Marketing Concept Compared with other
    Concepts
    Concept First Move Next Move
    1. Product Make products or services Look for interested
    buyers
    2. Selling Make products or services Look buyers and convince
    them to buy
    3. Marketing Determine needs of Make products or services
    market at time, place, price and
    specifications required.

    4. Marketing and profit Determine needs of Make products or service


    target market and profit at time, place, price and
    objectives of the specifications required by
    company target market at a profit
    required by the company
    Time frames in development of
    Marketing concept. McCarthy and Perreault, Jr.
     1. The Production Era- which happens during the Industrial Revolution and up
    to 1920s, is a time when a company focused on production of a few specific
    products.
     2. Sales Era- which occurred from 1930 to 1950, was a time when a company
    emphasized selling because of increased competition.
     3. The marketing department Era- which covered 1950 to 1960, was a time
    when all marketing activities were brought under the control of one
    department.
     4. The marketing company Era- which started in 1960, is a time when
    marketing people develop long –range plans and the whole company, not just
    the marketing department, is guided by the marketing concept.
    The development of the Marketing Concept

    Marketing
    Production era Sales era
    department era
    (1750-1920) (1920-1950)
    (1950-1960)

    Marketing
    Marketing
    company with
    company era
    social concern era
    (1960-1975)
    (1975 to present)
    The Marketing Variables
     1. the marketing mix variables-falls under the internal environment of the
    firm are those that the company can directly manipulate.
    1. products
    2. price
    3. promotion
    4. place
     2. the marketing environment variables-which fall under the external
    environment are those that the company has little or no control.
    1.political forces
    2. legal & regulatory forces
    3. societal forces
    4. consumer movement forces
    5. economic forces
    6. technological forces
    The Marketing mix variables
     The Products- refers to tangible commodity or the intangible service
    that the company offers for sale to customers. Ex. Motortrade-motor
    cycle AC School- bachelors Degree
    Victory Liner- passenger paid trip
     The Price- refers to the amount of the money the customer must part
    with to avail of the use of the product.
     The Promotions- refers to the provision of required information to the
    prospective customers so that they are persuaded to buy. Promoting a
    company's product may involve (1) personal selling (2) mass selling (3)
    sales promotion. The paid form of mass selling is ADVERTISING and
    the unpaid form is called PUBLICITY
     The Place- Making the products available in the right location,
    quantity and time is concern of the place variable in marketing. Ex.
    Burger Machine
    The Marketing environment variables
     Political Forces- the political environment varies from
    place to place and from time to time. To a large extent,
    the fate of companies depends on the political conditions
    in the areas where they are situated.
     Legal and Regulatory Forces- laws passed by Congress and
    regulations formulated by the government agencies
    constitute the legal basis for implementing the various
    marketing activities of the firm. Ex. Generic Law
     Societal Forces- society, in general, is characterized by
    the presence of forces which contributes to changing
    demands for a particular products. Ex. High/ low
    birthrate
     Consumer Movement Forces- not fully satisfied with their
    own governments, consumer around the world have
    formed groups that seeks to advance the interest of the
    consumers.
     Economic Forces- the economic environment is a factor in
    the marketing success of a firm. Under conditions of
    economic growth, buyer behavior is different than his
    behavior during depression. His spending pattern changes
    as soon as he feels economic hardship.
     Technological Forces- advances in technology have
    provided opportunities to new products, new ways of
    selling and new ways of influencing the prospective buyer.
    Ex. Vendo Machine
    Development in technology can also spell trouble to an
    existing firm. products may be made obsolete by a new
    invention.
    Question for review

     1. Why is marketing important in the overall growth of our economy?

     2. Define Marketing?

     3. What is meant by the following terms:


    a. exchange
    b. human need
    c. human want
    d. objective
    4. Discuss the evolution of the marketing concept.
    5. What are the Marketing variables?
    assignments

     Web Watch 4 principles of marketing Strategy https://goo.gl/KC7FTm


     What is Market?
     Types of Market

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