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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

INTRODUCTION TO MARKETING

Dr. Dawn Medlin

Université d’Angers

what is a market
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).

For instance…..

marketing defined
Marketing is a process… that is…

Managerial

Social

Individual

Wants, Desires

Demands – Products and/or Services

MarketingDefined
as far as customers are concerned there are three elements to address
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
  • Customer satisfaction: The extent to which a product’s perceived performance in delivering value matches a buyer’s expectations.
  • Quality: the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
marketing management philosophies agree or disagree
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

Marketing ManagementPhilosophiesAgree or Disagree?
relationships
Relationships
  • Relationship marketing: the process of creating, maintaining, and enhancing strong, value-laden relationships with customers and other stakeholders.
marketing management practice essentially two types
Entrepreneurial marketing:

Businesses started by individuals

Creativity, drive, and perseverance are keys to success

Marketing Management PracticeEssentially Two Types
  • Formulated marketing:
    • Professional, disciplined approach
    • Achieving a market orientation
orientations towards marketing
Orientations towards marketing
  • Production concept (before 1930):

demand > supply

  • Selling concept (1930-1950):

supply > demand

  • Marketing concept (post-1960s):

analyze consumer needs before producing and selling, market orientation, competition…

marketing concept versus selling concept

The Selling Concept

Factory

Product

Sell and

Promote it

Profits through

sales volume

The Marketing Concept

Market

Customer

needs

Integrated

marketing

Profits from

satisfied customers

Marketing Concept versus Selling Concept

Starting Point

Focus

Means

Ends

Figure 1.3

marketing management
Marketing Management
  • What is marketing management?

« 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)

  • Marketing management has the task of influencing the level, timing, and composition of demand in a way that will help the organization achieve its objectives.
course outline
Course Outline
  • Marketing Research
  • Marketing Strategy
common marketing problems
Common marketing problems
  • How can we identify and choose profitable market segments?
  • How can differentiate our offer from our competition?
  • How should we react to competitors?
  • How can we satisfy our customers and build brand loyalty?
  • How can we measure the effectiveness of an add campaign, of Public Relations, of a promotion, etc…?
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