Professional Documents
Culture Documents
Principles of Marketing
- Philip Kotler
What do these Brands have in
common?
"Marketing's work should not
be so much about selling, but
about creating products that
don't need selling”
GOODS PAYMENT
Marketer Customer
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Maslow’s Hierarchy of Needs
Demands – human wants that are backed
by buying power
Market offering – combination of
products, services, information, or
experiences offered to a market to satisfy a
need or a want
Product – anything that can be offered to a
market for attention, acquisition, use or
consumption that might satisfy a need or a
want.
Service – Any activity or benefit that one
party can offer to another that is essentially
intangible and does not result in the
ownership of anything.
5 Marketing Management
Orientations
1) Production Concept – the idea that
consumers will favor products that are
available and highly affordable and that the
organization should therefore focus on
improving production and distribution
efficiency.
2) Product Concept – the idea that
consumers will favor products that offer
the most quality, performance, and features
that the organization should therefore
devote its energy to making continuous
product improvements.
3) Societal Marketing Concept – the idea
that a company’s marketing decisions
should consider consumers’ wants , the
company’s requirements, long-run interest,
and society’s long-run interests.
4) Selling Concept – the idea that
consumers will not buy enough of the
firms products unless it undertakes large
scale selling and promotional effort.
5) Marketing Concept – the Marketing
Management philosophy that holds
achieving organizational goals depends on
knowing the needs and wants of target
markets and delivering the desired
satisfaction better than competitors do.
Selling vs. Marketing
Concept
Building Customer Relationships
Customer Relationship Management – the
overall process of building and maintaining
profitable customer relationships by
delivering value and satisfaction.
Sales to
your firm
CHAPTER 2