Week 1

Marketing
DR. ALAA TAG ELDIN MOHAMED

Marketing
Definitions and
Concepts
PART ONE
American  Marketing is the activity, set of institutions, and
processes for creating, communicating,
Marketing delivering, and exchanging offerings that
have value for customers, clients, partners, and
Association society at large.
The Chartered  The management process responsible for
identifying, anticipating and satisfying
Institute of customer requirements profitability.
Marketing (CIM)
 Marketing is the social process by which
individuals and groups obtain what they need
and want through creating and exchanging
Philip Kotler products and value with others.
defines
 ‘Marketing is the human activity directed at
marketing as: satisfying human needs and wants through an
exchange process’
Palmer’s marketing definition
 Marketing is essentially about marshalling the resources of an

organization so that they meet the changing needs of the customer
on whom the organization depends.
Dennis
Adcock  The right product, in the right place, at the right
time, at the right price.
definition
We can say
 Hence, we can say that marketing is the

process of planning and executing the
conception (formation), pricing, promotion,
and distribution (4 Ps) of ideas, goods and
services to create exchanges (with
customers) that satisfy individual and
organizational objectives.
Three parties
Customers Companies Society

The Marketing
Exchange
 The marketing exchange is to satisfy customer
needs (creating utility) through the exchange
process.
The Marketing
Exchange
 It is obtaining a desired object from someone
by offering something of value in return is
called the exchange process.
 The top goal of any marketing organization is

to facilitate and help increase sales
transaction by convincing potential
consumers and existing customers to buy their
company's product or service.
The nature of the marketing exchange for businesses
and customers has changed drastically
 Internet marketing
 E-commerce
The criteria needed for an
exchange to occur
Must have something of value to exchange
Need to be able to communicate
Must be able to exchange (ex: under 21 drinking)
Must want to exchange
At least 2 people needed for an exchange to occur

The exchange process creates
Utility.
When you purchase an

automobile, you give up
Utility is the satisfaction,
less (in $s) than the value of
value, or usefulness a user
the car (to you)...the ability
receives from a good or a
to get you from A to B,
service.
safely, in a timely manner
etc.
The exchange process creates
Utility
custome
r
Producer
Types of utilities
Place: Make
Form: Production of
product available
the good, driven by
where customers
the marketing
will buy the
function.
product.
Time: make Possession: Once

product available you own the
when customers product, do what
want to buy the you want with it, i.e.
product. eat it.
Trade-offs
The exchange process allows the parties to assess the relative trade-offs
they must make to satisfy their respective needs and wants.
The marketer The Customer

The company Personal policies
policies and and objectives
objectives
Marketers can, Unfortunately,
however, attempt buyers seldom write
to understand the down their personal
qualities of their policies and
products and how objectives.
consumers view
these qualities in
relation to their
perceived benefit
Negotiation in the exchange process
Equitable exchange Unfair exchange

Individuals on both sides
• Each party receives about the • Deception
attempt to maximize same as the other • Lying
rewards and minimize
costs in their transactions
so as to obtain the most
profitable outcomes.
Understanding Buyer Behavior
What is a
an individual, group,
“Buyer",
……….that
engages in
or organization
market
exchange
The power
of buyers
 As long as buyers
have free choice and
competitive offerings
from which to choose,
they are ultimately in
control of the
marketplace.
What to do as
a marketer?
 An understanding of
how buyers arrive at a
decision allows the
marketer to build an
offering that will
attract buyers.
Two of the key questions that a marketer needs to
answer relative to buyer behavior are:
How do potential What factors

buyers go about influence their
making purchase decision process
decisions? and in what way?
What is the role of marketing?
 Marketing, "the activity, set of institutions, and processes for

creating, communicating, delivering, and exchanging offerings that
have value for customers, clients, partners, and society at large"
Organization mission
 The overall directive for any organization is the mission statement or

some equivalent statement of organizational goals. It reflects the
inherent business philosophy of the organization.
Functional
 Every organization has a set of functional
areas (e.g., accounting, production, finance,
data processing, and marketing) in which
areas of the tasks that are necessary for the success of the
organization are performed. These functional
organization areas must be managed if they are to achieve
maximum performance.
 Every functional area is guided by a philosophy (derived from the
mission statement or company goals) that governs its approach
toward its ultimate set of tasks.
Marketing
 Marketing differs from the other

functional areas in that its primary
concern is with exchanges that take
place in markets outside the
organization.
 Marketing is most successful when

the philosophy, tasks, and manner of
implementing available technology
are coordinated and
complementary to the rest of the
business.
Marketing is often a critical part of a firm's
success
Big companies Regulated industries
• Proctor & Gamble, Microsoft, • social services, medical care,

Toyota, Dell…. or small businesses providing
a one product
• Marketing may be little more
• Marketing represents a major than a few informative
expenditure brochures
Marketing As A Source Of Competitive
Advantage
identifying,
The specific
satisfying, and competitive
role of How?
retaining advantage
marketing
customers

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Marketing

DR. ALAA TAG ELDIN MOHAMED

 Marketing is essentially about marshalling the resources of an

 Hence, we can say that marketing is the

Customers Companies Society

 The top goal of any marketing organization is

Must have something of value to exchange

Need to be able to communicate

Must be able to exchange (ex: under 21 drinking)

Must want to exchange

At least 2 people needed for an exchange to occur

When you purchase an

Time: make Possession: Once

The marketer The Customer

Equitable exchange Unfair exchange

How do potential What factors

 Marketing, "the activity, set of institutions, and processes for

 The overall directive for any organization is the mission statement or

 Marketing differs from the other

 Marketing is most successful when

Big companies Regulated industries

• Proctor & Gamble, Microsoft, • social services, medical care,

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