Ch.1 - BUSI 1004 Marketing Instructor: QIU Cheng What is...

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Introduction to Marketing Concepts and Processes 1 BUSI 1004 Marketing Instructor: QIU Cheng 2 What is Marketing About? Selling products to customers to make a profit Selling products to customers to make a profit Managing profitable customer relationships Managing profitable customer relationships 3 Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return. Marketing Defined… 4 Marketing Defined… Key concepts: b Customer value b Customer relationship: built by delivering superior customer value and satisfaction s Product performance < = > __________ s Company promise
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5 Evolution of Marketing Management Orientation Production Concept Product Concept Selling Concept Marketing Concept Societal Concept 6 Production Concept b Products sell themselves s Available s Affordable b Companies focus on production b Assumption: Supply < Demand 7 Production Concept The first production Model T Ford was assembled on October 1, 1908. Over the next 19 years, Ford would build 15,000,000 automobiles with the Model “T” engine, and the Model T would endure with little change in its design . Henry Ford had succeeded in his quest to build a car for the
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Ch.1 - BUSI 1004 Marketing Instructor: QIU Cheng What is...

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