Basics of Marketing

Topics to Cover
Definitions of Marketing
History of Marketing
Principles of Marketing
Brand and Product
Role of Marketing Function
Classification of Marketing Schools

Noninteractive Perspective Interactive Perspective

Economic Commodity Institutional
Perspective Functional Functionalist
(Seller)
Regional Managerial
Noneconomic Buyer Behaviour Organisational Dynamics
Perspective Activist Systems
(Buyer)
Macromarketing Social Exchange
Classification of Marketing Schools

Noninteractive Transactional Perspective Relational Perspective

Perspective
Economic Commodity Institutional
Perspective Functional Functionalist ?
(Seller)
Regional Managerial
Noneconomic Buyer Behaviour Organisational Dynamics Services Marketing
Perspective Activist Systems B2B Marketing
(Buyer)
Macromarketing Social Exchange Relationship Marketing

Digital Marketing : Economic Perspective + Noneconomic Perspective

Definition of Marketing?
The purpose of business is to create a customer, the business
enterprise has twoand only twobasic functions: marketing and
innovation. Marketing and innovation produce results; all the rest are
costs. Marketing is the distinguishing, unique function of the
business.

- Peter Drucker
 Definition of Marketing?
Marketing is a societal process by which individuals and groups/
organisations obtain what they need and want through creating,
offering, and freely exchanging products and services of value with
others.
- Philip Kotler
What is Marketing?
The essence of marketing is a transaction and an exchange
intended to satisfy a human needs and wants.
 Definition of Marketing?
Any inter-personal and inter- organizational relationship involving and
exchange is Marketing.
- William J. Stanton
Exchange and Transaction

Exchange is the act of obtaining a desired object from someone by

offering something in return.
transaction is a trade between two parties that involves at least two
things of value, agreed-upon conditions a time of agreement, and a
place of agreement.
Needs and Wants
NEEDS: The state of felt depravation of some basic satisfaction (Food,
Clothing, shelter, Belongings, etc.)
WANTS: Wants are desires for specific satisfiers of the deeper needs.
Needs are few but wants are many.
Principles of Marketing
Marketing is the process that encompasses "the total of activities
involved in the transfer of goods from the producer or seller to the
consumer or buyer, including advertising, shipping, storing, and
selling."
Principles of Marketing

4Ps of Marketing 4Cs of Marketing

Product Customer Value
Place Convenience
Promotion Communication
Price Cost
Role of Marketing Function

Production Finance

Marketing Human
resources

Marketing as an
equal function
Evolving Role of Marketing Function
Production

Marketing
IT & Customer
Systems Finance

Human Resources
The customer as the controlling
function and marketing as the
integrative function
Thank You