‘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 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
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 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 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
Implications of Marketing
Who are our existing / potential
customers?
What are their current / future needs?
How can we satisfy these needs?
Can we offer a product/ service that the
customer would value?
Can we communicate with our customers?
Can we deliver a competitive product of service?
Why should customers buy from us?
Successful Marketing requires:
Profitable
Offensive (rather than defensive)
Integrated
Strategic (is future orientated)
Effective (gets results)
Hugh Davidson
MARKETING & THE MARKETING CONCEPT:
IMPORTANT CONCLUSIONS I
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 II
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
