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MKT 2210 (46)
Lecture

marketing 1.docx

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Department
Marketing
Course
MKT 2210
Professor
Subbu Sivaramakrishnan
Semester
Fall

Description
what marketing is and what it is not a. marketing defined the ama definition: an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders requirements for marketing to occur four things are needed for marketing to occur: 1. two or more parties (individuals or organizations) with unsatisfied needs. 2. a desire and ability to satisfy these needs. 3. a way for the parties to communicate. 4. something to exchange. the breadth and depth of marketing five issues to analyze: 1. what is a market? a market is people with the desire and ability to buy a specific product. 2. who markets? every organization markets. 3. what is marketed? goods (physical objects), services (activities, deeds or other basic intangibles) and ideas (intangibles involving thoughts about actions or causes). social marketing is designed to influence behaviour of individuals by which benefits accrue to those individuals or to society in general and not to the marketer. 4. who buys and uses what is marketed? ultimate consumers are people who use the goods and services purchased. organizational buyers are units, such as manufacturers, retailers, and customers, that buy goods and services for their own use or for resale. 5. who benefits? consumers who buy, organizations that sell and society as a whole. discovering consumer needs marketing's first objective is discovering the needs of prospective customers. consumer needs and consumer wants a. a need occurs when a person feels deprived of basic necessities. b. a want is a need that is sh
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