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1-5 M ar ket ing Defined
Definit ion of mar ket ing (AM A, 2004) A n or ganizat ional funct ion and a set of pr ocesses for An cr eat ing, communicat ing, and deliver ing value t o cust omer s and for managing cust omer r elat ionships in ways t hat benefit t he or ganizat ion and it s st akeholder s w ays Definit ion of mar ket ing (AM A, 1984) M ar ket ing is defined as t he pr ocess of planning and execut ing t he concept ion, pr icing, pr omot ion, and dist r ibut ion of goods ser vices, and ideas t o cr eat e exchanges t hat sat isfy individual and or ganizat ional object ives object 1-6 Needs, Want s, & Demands
Need: • N eed: St at e of felt depr ivat ion i ncluding physical, social, and individual needs. i ndividual • Physical: Food, clot hing, shelt er , safet y • Social: Belonging, affect ion • I ndividual: L ear ning, knowledge, self-expr ession
1-7 Needs, Want s, & Demands
Want • W ant s: For m t hat a human need t akes, as shaped by cult ur e and individual per sonalit y. i ndividual • “ I need food, but I want st eak.” Want • W ant s + Buying Power = Demand D emand
1-8 Needs • N eeds and Want s Fulfilled t hr ough a M a r keti ng Offer : Some combinat ion of pr oduct s, Some ser vices, infor mat ion, or exper iences offer ed t o a m...
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This note was uploaded on 12/07/2010 for the course MKTG 360 taught by Professor Johne.robbins during the Fall '08 term at Winthrop.
- Fall '08