Professional Documents
Culture Documents
Fall 2015-16
Faculty: Shama Islam
Chapter #1
Marketing:
Managing Profitable Customer Relationships
SOWHAT IS MARKETING?
Marketing is the process by which companies create value for customers and
build strong customer relationships to capture value from customers in return.
Marketing is a social and managerial process by which individuals and groups
obtain what they need and want, through creating, offering and exchanging
products (goods and services) of value with others.
SOWHAT IS MARKETING?
To define Marketing, Peter Drucker said,
The aim of marketing is to make selling unnecessary.
In fact, selling and advertising are only part of larger Marketing Mix (a set of marketing tools that work together to satisfy customer needs and build customer
relationships).
Today, marketing must be understood in the new sense of satisfying customer needs but not in the old sense of making a sale (telling and selling).
2.
3.
4.
5.
Market Offerings
(Products, Services
& Experiences)
Markets
If Mr. Reehan demand Food from Radisson and Clothes from designer house
that will be considered as his want as he does not have the ability of
buying it, unless backed by someone.
Physical
Physical Goods
Goods
Services
Services
Events
Events
Experiences
Experiences
Persons
Persons
Places
Places
Organizations
Organizations
Information
Information
Properties
Properties
Ideas
Ideas
Goods
Events
Services
Experiences
Persons
Organizations
Places
Ideas
Information
Properties