Defining Marketing

M. Ovais
What is Marketing?
The process by which companies create,
communicate and deliver value for the target
customers in order to get value in return.
What is Marketing Management?

Marketing management is the art and science
of choosing target markets and getting,
keeping, and growing customers through
creating, delivering, and communicating
superior customer value.
Marketing is about;
Marketing Management
Effective and Efficient 4Ps
Demand Types & Structure
Negative demand-Consumers dislike the product and may even
pay a price to avoid it.
Latent demand- Consumers may share a strong need that
cannot be satisfied by an existing product.
Declining demand- Consumers begin to buy the product less
frequently or not at all.
Irregular demand- Consumer purchases vary on a seasonal,
monthly, weekly, daily, or even hourly basis.
Full demand- Consumers are adequately buying all products
put into the marketplace.
Unwholesome demand: Consumers may be attracted to
products that have undesirable social consequences
What is Marketed?
Goods
Services
Events and experiences
Persons
Places and properties
Organizations
Information
Ideas

Key Customer Markets
Consumer markets
Business markets
Global markets
Nonprofit/Government markets.
Company Orientations
Production
Product
Selling
Marketing
Core Concepts
Needs, wants, and
demands
Target markets,
positioning,
segmentation
Offerings and brands
Value and satisfaction
Marketing channels
Supply chain
Competition
Marketing environment
Marketing planning
Core Concepts
Markets: ???
B2C, B2B, Global, Govt. & Non-profits,C2C.
The marketplace is physical, such as a store you
shop in;
Market-space is digital, as when you shop on the
Internet.
J4

Meta-market a cluster of complementary products
and services that are closely related in the minds of
consumers, but spread across a diverse set of
industries.
Marketing Mix and the Customer
Four Ps
Product
Price
Place
Promotion
Four Cs
Customer solution
Customer cost
Convenience
Communication
New Consumer Capabilities
A substantial increase in buying power
A greater variety of available goods and services
A great amount of information about practically
anything
Greater ease in interacting and placing and receiving
orders
An ability to compare notes on products and services
An amplified voice to influence public opinion
Holistic Marketing
The holistic marketing concept is based on the
development, design, and implementation of
marketing programs, processes, and activities
that recognizes their breadth and
interdependencies. Holistic marketing recognizes
that "everything matters" in marketing-and that
a broad, integrated perspective is often
necessary.
Relationship marketing aims to build mutually
satisfying long-term relationships with key
constituents in order to earn and retain their
business.
Internal marketing is the task of hiring,
training, and motivating able employees who
want to serve customers well.

Integrated Marketing
Two key themes of integrated marketing are
that:
1. Many different marketing activities
communicate and deliver value and
2. When coordinated, marketing activities
maximize their joint effects.
In other words, marketers should design and
implement anyone marketing activity with all
other activities in mind.
Performance Marketing
Financial Accountability
Social Responsibility Marketing
Social Initiatives
Corporate social marketing
Cause marketing
Corporate philanthropy
Corporate community involvement
Socially responsible business practices
Marketing Management Tasks
Developing marketing strategies
Capturing marketing insights
Connecting with customers
Building strong BRANDS
Shaping market offerings
Delivering value
Communicating value
Creating long-term growth