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).
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 ServicesMarketingDefined
Customer value: Difference between the values that the customer gains from owning and using a product versus the costs of obtaining the product.As far as Customers are concerned there are three elements to address
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 responsibilitiesMarketing ManagementPhilosophiesAgree or Disagree?
Businesses started by individuals
Creativity, drive, and perseverance are keys to successMarketing Management PracticeEssentially Two Types
demand > supply
supply > demand
analyze consumer needs before producing and selling, market orientation, competition…
The Marketing Concept
satisfied customersMarketing Concept versus Selling 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)