INTRODUCTION TO MARKETING. Dr. Dawn Medlin Université d’Angers. Do you know??. What is a market ?. “A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want” (Philip Kotler).
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INTRODUCTION TO MARKETING
Dr. Dawn Medlin
“A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want” (Philip Kotler).
Marketing is a process… that is…
Demands – Products and/or Services
Customer value: Difference between the values that the customer gains from owning and using a product versus the costs of obtaining the product.
Production:consumers will favor products that are available and highly affordable
Product:consumers favor products that offer the most in quality, performance, and innovative features
Selling:consumers will not buy unless an organization undertakes a large-scale selling and promotional effort
Marketing:determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently then the competitors
Societal marketing:generating customer satisfaction and long-run societal well-being are the keys to both achieving the company’s goals and fulfilling its responsibilities
Businesses started by individuals
Creativity, drive, and perseverance are keys to success
demand > supply
supply > demand
analyze consumer needs before producing and selling, market orientation, competition…
The Selling Concept
The Marketing Concept
« Marketing management is 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 goals » (Philip Kotler)