MKC1200 Lecture Notes - Lecture 1: Marketing, Customer Relationship Management, Triple Bottom Line
26 May 2018
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MKC1200 Week 1 - What is Marketing?
Week 1 - What is Marketing?
On completion of this topic, you should be able to:
● Define marketing
● Understand the strategic variables of marketing
● Explain how marketing evolved
● Understand the role of marketing in our society
Marketing
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.
Origin of Marketing
●Grounded in the exchange process by which two or more parties give something of
value to each other in order to satisfy perceived needs.
○Transition from subsistence economies to trading economies on surplus
production
○Facilitated by development of technology and more sophisticated economic
systems
Evolution of Marketing
●Trade - exchange goods for a different good
●Production Concept - If I make things as cheap as possible then people will buy it
○EG: Henry Ford - “You can have any colour you like as long as it’s black” -
black was the fastest to dry and therefore most efficient.
●Sales Orientation - People will only buy my products if I use aggressive sales
techniques
●Market Orientation - Focus on what consumers want and how to get it to them
efficiently
●Societal Market Orientation - Need to give consumers what they need and want BUT
only if it benefits society as a whole
●Service-Dominant Logic - involve consumers in the process to provide the BEST
service
What is Marketed?
●Physical objects
○Eg: phone, laptop, clothes etc
●Services
●Persons
○Eg: Kardashians
●Places
○Eg: South Australia, travel etc
●Organisations
○Eg: banks, real estate etc
●Ideas
○Eg: Drink driving campaigns, Don’t text and drive campaigns etc
Who uses marketing?
●Small businesses and large multinationals
●Businesses selling good and services
●For-profit and not-for-profit organisations
●Private and public organisations, incl gov’t
●Basically ALL businesses
Document Summary
On completion of this topic, you should be able to: Understand the role of marketing in our society. Marketing 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. Grounded in the exchange process by which two or more parties give something of value to each other in order to satisfy perceived needs. Transition from subsistence economies to trading economies on surplus. Facilitated by development of technology and more sophisticated economic production systems. Trade - exchange goods for a different good. Production concept - if i make things as cheap as possible then people will buy it. Eg: henry ford - you can have any colour you like as long as it"s black - black was the fastest to dry and therefore most efficient. Sales orientation - people will only buy my products if i use aggressive sales.
