An Overview of Marketing. 1. Course Instructor :. Sean X.H. Qiu Lecturer, MDL. Learning Objectives. 1. . Why do we need to learn marketing? 2. What is a market and its types? 3. What is Marketing? 4. What is Marketed? 5. What is demand and its types?
Sean X.H. Qiu
1..Why do we need to learn marketing?
2. What is a market and its types?
3. What is Marketing?
4. What is Marketed?
5. What is demand and its types?
6. What are some Core Marketing Concepts?
7. Describe Various marketing management philosophies?
Can you Market them?
and Coop Products?
“Marketing is too important
to be left to the
Market ( Market place)A physical place where buyers and sellers gather to exchange goods and services
Consists of all individuals or house holds who buy or acquire offerings for personal usage.
2. Industrial/Business Market
Consists of buyers who purchase or acquire offerings for resell or reproduction to earn profit
3. Global Market/International markets. Import, export etc.
4. Non Profit & Government Markets
All of the above, plus much more!
American Marketing Association Definition
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and servicesto create exchanges that satisfy individual and organizational goals.
The Art & Science of choosing
target markets and getting,
keeping and growing customers
through creating, delivering and
superior customer value
Sales occur when goods or services are “given over” to a customer in exchange for money or another valuable consideration. It’s the end of the marketing process.
Marketing describes the whole commercial process that creates (through promotion) the interest that the potential customer demonstrates prior to a sale.
Basically 10 types of entities are being marketed.
5. What is Demand?
2. No Demand consumer may be unaware or uninterested In product. The marketing task is to find ways to connect the benefits of the product with the person’s natural needs and interests.
3. Latent Demand Want of consumers exist but not marketing offer to satisfy need. The marketing task is to measure the size of potential market and develop good and services to satisfy that want.
5. Irregular demand Variations in demand on seasonal, daily or even hourly bases. The marketing task called Synchromarketing is to find the ways to alter the pattern of demand through flexible pricing, promotion and other incentives.
6. Full Demand supply= demand. The marketing task is to maintain the pattern of demand
8. Unwholesome DemandConsumers may be attracted to products that have undesirable social consequences. The marketing task is to organize activities eg. Fear messages, price hikes or reduced availability.
It is ratio between what
consumer gets & what
It’s related with how well the product performance lives up to customers expectation.
Maintaining satisfying and long term relationship with customers, partners,
suppliers and other channel members.
The binding relationship between the buyer and seller that’s created by effective marketing tends to last longer --- and to be set up more quickly --- as the speed of information in the marketplace increases.
Useful in/if :
A General Motors executive said years ago: “ How can the public know what kind of car they want until they see what is available?”
Integrated Marketing Communication
d.Social Responsibility Marketing Understanding social, ethical, environmental & legal concern of society.
Contact : Seeking out of prospective
Merchandising: Bring the right products to the right place at right time in the right quantity at the right price.
Pricing: Determining factor when a purchase is made and a key to profit
Promotion: Convincing customers through ads, personal selling, pr and other efforts.
Distribution: The process of putting the customer and the product together.
Human Resources: Transactions don’t take place between companies and faceless consumers but between flesh-and-blood human beings.
today 9 pm from