2. Define the term marketing Describe four marketing management philosophies Discuss the differences between sales and market orientations Describe several reasons for studying marketing 1 2 3 4 An Overview of Marketing MVS. Srinivas Rao, Associate Professor of Strategic Marketing, Member-AIMA,CGPA-UGC.
5. Human Wants Wants are few and different & Difficult to satisfy
6. Market The place where the needs and wants of the customers are satisfied.
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9. History of Marketing Thought – The journey Bartering First Marketing is not economics 1800s College Courses (academics) Early 1900s 1930s First marketing theories 1960s Marketing research 1970s Becomes major business function 1980s & 1990s Focus on customer & external environment
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11. Exchange Chapter PHOTO Here People giving up something to receive something they would rather have. The medium of exchange is money… It is MARKETING.
Bartering - Surpluses - Agrarian Societies 1800s - More Than Just Supply and Demand Early 1900s - Focus on Distribution 1930s - Theories Developed - Consumer Behaviorists 1960s - Customer Focus Based on Marketing Research US became cradle of marketing thinking 1970s - Routinized into industry 1980s & 90s - Knowing Everything About Customer is Not Enough. Must know customer in context of which includes competition, government policy and regulation, and the broader economic, social an political macro forces that shape the evolution of markets.