Undergraduate Introduction Lecture

Undergraduate Introduction Lecture - What is Marketing? ●...

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Unformatted text preview: What is Marketing? ● Preconceived Notions – Images of Willie Loman – Used Cars , Tin Men – Judea-Christian Ethic – U.S. Culture and Philosophy ● Truth--marketing is a dynamic, exciting, diverse business function at the core of all successful businesses ● Regardless of occupation, a marketing orientation will play an important role in your career. What is Marketing? ● Marketing is 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. American Marketing Association, 2004 Some Observations on the Definition of Marketing ● Marketing is a process. ● The core process of marketing involves creating an environment and managing relationships so that exchanges can be consummated. ● These exchanges will benefit individuals and organizations simultaneously. ● To benefit all the parties in the exchange, there must be creation, communication and delivery of products and services that deliver value. Marketing’s Core Concepts ● Needs-----A state of felt deprivation of some basic satisfaction. ● Wants----are desires for specific satisfiers of these deeper needs. ● Demands---are wants for specific products that are backed by an ability and willingness to buy. ● Products--anything that can be offered to someone to satisfy a need or want. Intangible services are also products. Marketing’s Core Concepts ● Value, Cost And Satisfaction Relationships-- exchanges are conducted so that value can be extracted from the associated transaction by...
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This note was uploaded on 10/13/2010 for the course MKT B280 taught by Professor Lawrence during the Fall '08 term at Loyola New Orleans.

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Undergraduate Introduction Lecture - What is Marketing? ●...

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