The learning objectives: What is Market? What is Marketing

The learning objectives: What is Market? What is Marketing and marketing management? Marketing core Concepts Marketing management philosophies 1

1. Market Market means that customers who have purchased or want to purchase a certain product or service.

Market Consumer Market Business Market Global Market Nonprofit and Government Markets

Consumer Market The aim of buying is to consume for their own or somebody who has something to do with in consumer market.

Business Market Business buyers buy goods for their utility in enabling them to make or resell a product to others for the purpose of making profits.

Global Market Companies selling their goods and services in the global marketplace face additional decisions and challenges.

Nonprofit and Government Markets Companies selling their goods to nonprofit organizations such as churches, universities, charitable organizations, or government agencies.

2. Marketing Is the process of planning and executing the conception,pricing,promotion,and distribution of ideas,goods,services to create exchanges that satisfy individual and organizational goals.

The Four Ps The Four Cs Marketing Mix Place Product Customer Solution Price Customer Cost ConvenPromotion ience Communication

Marketing management The analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organization objectives

3.Core Concepts of Marketing Target Target Markets Markets & & Segmentation Segmentation Needs, Wants, and Demands Product Product or or Offering Offering Value Value and and Satisfaction Satisfaction Exchange Exchange and and Transactions Transactions Relationships Relationships and and Networks Networks Marketing Marketing Channels Channels Supply Supply Chain Chain Competition Competition Marketing Marketing Environment Environment

Needs, Want, and Demands Needs describe basic human requirements. Want are shaped by one’s society. Demands are wants for specific products backed by ability to pay. examples

Product and service Product---Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfying a want or need. It includes physical objectives, services, persons, places, organizations and ideas. Service--- any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.

The marketing concept The marketing concept holds that the key to achieving its organizational goals consists of the company being more effective than competitors in creating,delivering,and communicating customer value to its chosen target markets