MKTG101 Lecture Notes - Lecture 1: History Of Marketing, Marketing, Services Marketing
16 Jun 2018
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Week 1- Introduction to Marketing
• Marketing is 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.
• A customer orientation, backed up by
integrated marketing activities aimed at
generating customer satisfaction as the key
to satisfying organisational goals.
• In the past 100 years marketing has evolved
through the following stages:
o Trade (product orientation)
o Production orientation
o Sales orientation
o Marketing orientation
o Societal marketing orientation
• A production orientation holds that: the major task of an organisation is to pursue
efficiency in production and distribution
• A sales orientation holds that: the main task of the
organisation is to stimulate the interest of potential
clients in the organisations existing offerings
• A marketing orientation holds that: the main task of the
organisation is to determine the needs and wants of
target markets and to satisfy them through the design,
communication, pricing and delivery of appropriate and
competitively viable offerings.
• Stakeholders are individuals, organisations and other
groups that have rightful interest in the activities of the business.
o Owners- business must be profitable and sustainable
o Employees- wealth is shared among members of society with creation of jobs,
reasonable working conditions
o Customers and clients- business must attract and retain customers by offering
products of value
o Partners- all objectives met through CSR
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