What is Marketing??

1
What is Marketing??
2
Marketing as a Process
3. Integrated Marketing Program (Marketing Mix)
Kotler and Armstrong (2009)
3
Marketing Evolution
Production Era 18701930 emphasise the most efficient way to product and distribute products Demand gt Supply consumers have no choice
Sales Era 19301950 emphasis on aggressive selling to move products out of warehouses Supply gt Demand consumers are pushed to buy
Solomon et al. (2008) Marketing Real People,
Real Choices, Pearson Prentice Hall, Chapter 1
4
Marketing Evolution
Consumer Era 19501990 focus to satisfy customers needs and wants Supply gt Demand consumers are taken care of
New Era ? 1990? focus to benefit the stakeholders Supply gt Demand individuals and society together as customers
Solomon et al. (2008) Chpt 1
5
The Value of Marketing

• Marketing is about Exchange relationship
• The process by which some transfer of value
  occurs between at least two parties (1) willing
  to make a trade (2) agreeing on the value of
  exchange (3) agreeing on how its carried out.
• The supply and demand model of economics

Solomon et al. (2008) Bagozzi (1975),
Marketing as Exchange, Journal of Marketing,
39(Octorber), pp. 32-39
6
The Value of Marketing

• Marketing is about Meeting Needs
• marketing identify stakeholders (ie. consumers)
  needs and provide the products that satisfy those
  needs to ensure the firms long-term profitability

Solomon et al. (2008) Bagozzi (1975),
Marketing as Exchange, Journal of Marketing,
39(Octorber), pp. 32-39
7
Ethical Issues of Marketing

• For instance,
• 1. Segmentation and Target Market
• 2. Branding

8
Segmentation Targeting

• Market Segmentation is to divide a market into
  smaller groups with distinct needs,
  characteristics, or behaviours that might require
  separate marketing strategies or mixes.
• Market Targeting is the process of evaluating
  each market segments attractiveness and
  selecting one or more segments to enter/serve

Kotler and Armstrong (2009)
9
Inclusion
Segment with the need
Target of marketing Program
Frustrated or somewhat satisfied consumers
Audience reached by marketing program
Frustrated, distracted or irritated consumers
Star (1989), Marketing and its Discontents,
Harvard Business Review, 67(6), pp. 148-154
Highly satisfied consumers
10
Exclusion

• Prices in disadvantaged areas for both durables
  and nondurables are higher than in
  non-disadvantaged areas.

Andreasen (1976), The Differing Nature of
Consumerism in the Ghetto , Journal of Consumer
Affairs, 10(2), pp. 179-190 Andreason (1975),
The Disadvantaged Consumer, New York Free Press