Marketing: An Introduction

INTRODUCTION TO
MARKETING

Dr. Dawn Medlin

Université d’Angers
Marketing: An Introduction
Do you know??
 What is a market?
Marketing: An Introduction

“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: An Introduction
The Overall Themes of Marketing
The Traditional Marketing Mix

• Product
• Price
• Promotion
• Place
 Marketing Defined
Marketing: An Introduction

• Marketing is a process… that is…

• Managerial
• Social
• Individual
• Wants, Desires
• Demands – Products and/or Services
 As far as Customers are concerned there are
three elements to address
Marketing: An Introduction

• Customer value: Difference between

the values that the customer gains from
owning and using a product versus the
costs of obtaining the product.

• 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?
Marketing: An Introduction

1. Production: consumers will favor products that are

available and highly affordable
2. Product: consumers favor products that offer the
most in quality, performance, and innovative features
3. Selling: consumers will not buy unless an
organization undertakes a large-scale selling and
promotional effort
4. Marketing: determining the needs and wants of
target markets and delivering the desired satisfactions
more effectively and efficiently then the competitors
5. 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
 Relationships
Marketing: An Introduction

• Relationship marketing: the process of creating,

maintaining, and enhancing strong, value-laden relationships
with customers and other stakeholders.
 Marketing Management Practice
Essentially Two Types
Marketing: An Introduction

• Entrepreneurial marketing:
– Businesses started by individuals
– Creativity, drive, and perseverance are keys to
success

• Formulated marketing:
– Professional, disciplined approach
– Achieving a market orientation
 Orientations towards marketing
Marketing: An Introduction

• 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
Marketing: An Introduction

Starting Point Focus Means Ends

The Marketing Concept

Customer Integrated Profits from
Market
needs marketing satisfied customers

The Selling Concept

Sell and Profits through

Factory Product
Promote it sales volume

Figure 1.3
 Marketing Management
• What is marketing management?
Marketing: An Introduction

« 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
Marketing: An Introduction

• Marketing Research

• Marketing Strategy
 Common marketing problems
Marketing: An Introduction

• 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…?