AN OVERVIEW OF

MARKETING MANAGEMENT.
Marketing is important to you.
It is important to every consumer and to every buyer and
society.
Marketing is useful for both profit and non-profit
making organizations
What is Marketing?
According to your text book by Peter and Donnelly (2011), it
may seem strange that one of the persistent problem in the field
has been its definition hence Peter and Donnelly (2011) instead
of putting forward a definition simply stated the American
Marketing Associations definition of marketing.

The American Marketing Association (2004) defined
marketing as:
An organizational function and set of processes of creating,
communicating, and delivering value to customers and for
managing customer relationships in ways that benefit the
organization and its stakeholders

How would define business stakeholders?



(Source: Marketing Redefined, Marketing News September 15, 2004, p.1)
A group, or organization or an individual person with direct or
indirect stake (i.e interest) in an organization because it can
affect or be affected by the organizations policy and
objectives or actions. Examples of stakeholders in business
organizations include:
-Directors and owners,
-Share holders of the business,
-Government, and its agencies, divisions and departments
-Community
-Unions
-Suppliers,
-Creditors,
-Employees
-Unions
-Customers


According to Perreault, Cannon and
McCarthy, Marketing is the
performance of activities that seek to
accomplish an organizations
objectives by anticipating customer or
client needs and directing a flow of
need - satisfying goods and services
from producer to customer or client.

In this course, marketing can be defined as a
series of human activities directed at
satisfying needs and wants through
exchange processes that benefit the
organization, its stakeholders including its
customers.
Such activities include:
marketing research
product design
packaging
branding
pricing
distribution
selling
advertising
publicity
sales promotion
storage
Successful marketing begins with the study
of peoples wants and needs.

Five alternative Philosophies/Concepts that
Can Guide Organizations in their Marketing
Operations


The Product Concept
This concept assumes that consumers will
respond favourably to good products that
are reasonably priced and therefore little
marketing effort is required.
The Production Concept
This concept assumes that consumers will
readily respond to products that are
available and affordable, and therefore
managements major task is to improve
production efficiency and bring down
prices.
The Selling Concept
This concept assumes that consumers will
normally not buy enough of the companys
products unless they are reached with a
substantial selling promotion effort.
The Marketing Concept
This concept holds that the main task of the
company is to:
(i) research the needs and wants of a well
defined target market,
(ii) adapt the whole company to delivering the
desired satisfaction, and
(iii) achieve profit through customers
satisfaction.
The Societal Marketing Concept
This concept holds that the main task of the
company is to:
(i) generate customer satisfaction; and
(ii) generate long-run consumer and public
welfare as the key to satisfying
organizations goals and responsibilities.
Classification of the 5 Concepts
into two major Orientations

The Old Marketing Approach (this includes the
product concept, the production concept and the
selling concept).

In the old marketing approach, goods and
services are made available before being ordered
by specific customers.

This old marketing approach asserted that
marketing is selling.
The New Marketing Approach (This includes the
marketing concept and the societal marketing
approach).

The new marketing approach starts with the firms
existing and potential customers.

It seeks profit through the creation of customer
satisfaction. This is done through an integrated
corporate-wide marketing programme.
(See the Marketing Concept Versus Selling
Diagram in Lecture 1b).
Integrated Marketing means that sales,
finance, production and personnel should all
work together to provide customers
satisfaction.