3. DEFINITION OF MARKETING
Marketing is the process by which companies create
customer interest in product or services.
It includes process for creating, communication,
delivering and exchanging offering that have value for
customers, clients, partners, and society.
It is integrated process through which companies build
strong customer relationships and create value for their
customer and for themselves.
Marketing is used to identify the customer, to keep the
customer, and to satisfy the customer.
4. EVOLUTION OF MARKETING
Earlier Approaches
Orientation Profit driver Western Description
Production Production
method
Until 1950s -specialized in producing as
much as possible of a given
product/services
Product Quality of
product
Until 1960s -chiefly concerned with the
quality of its own product
-assume that as long as its
product was of a high
standard, people would buy
and consume the product.
5. CONTINUE……
Orientation Profit driver timeframe Description
Selling Selling method 1950s and
1960s
-focuses primarily on the
selling/promotion of a
particular product, and not
determining new consumer
desires as such.
Marketing Needs and
wants of
customers
1970s until
present
-most common orientation
-It involves a firm essentially
basing its marketing plans
around the marketing
concept, and thus supplying
products to suit new
consumer tastes.
6. CONTEMPORARY APPROACHES
Orientation Profit driver Timeframe description
Relationship
marketing/
relationship
management
Building and
keeping good
customer
relations.
1960s to
present
-between suppliers and
customers
-The aim is to give the best
possible attention, customer
services and therefore build
customer loyalty.
Business
marketing/
industrial
marketing
Building and
keeping
relationships
between
organization
1980s to
present
-takes place between businesses
or organization
-The product focus lies on
industrial goods or capital goods
than consumer product or end
products.
Social
marketing
Benefits to
society
1990s to
present
-Similar as marketing orientation
but with the added proviso that
there will be a curtailment on any
harmful activities to society.
7. MARKETING RESEARCH
Involves conduct research to support marketing
activities and statistical interpretation of data into
information which is then used to plan marketing
activities
Market research Marketing research
• Research in a given
market
• Relates to all research
conducted within marketing
8. MARKETING RESEARCH
Market segmentation
- division of a market of consumers into persons
with similar needs and wants
- allows better allocation of a firm’s finite resources
Types of marketing research
- Primary research
- Secondary research
9. MARKETING PLANNING
Involves forging or create a plan for a firm’s
marketing activities.
An organization's marketing planning process is
derived from its overall business strategy.
10. MARKETING SPECIALIZATION
firms need to reorient their marketing strategies to
meet the challenges of the global marketplace, in
addition to sustaining their competitiveness within
home markets.
