1_ch01_intro - Definition of Marketing and its core...

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1  Marketing Perspective   Definition of Marketing and its core concepts Market place orientations
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2 Superior Products or Superior Marketing ? C B B B C C C ‘B’- drug offers modest therapeutic gains ‘A’ – drug offers important therapeutic gains ‘C’ – drug offers little or no therapeutic gains over existing therapies 1. Zocor 2. Losec/Prisolec 3. Prozac 4. Vasotec 5. Zantac 6. Norvasc 7. Claritin FDA ratings for the top U.S. drugs by $ sales (1997)
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3 What is Marketing?  The delivery of customer satisfaction at a profit
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4 Who Uses Marketing? Large and small organizations Businesses Non-profit agencies Government Individuals
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5 Marketing’s Primary Task: Discovering Customer Needs Marketing Department Discover Customer Needs Information about needs Potential customers: The market
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6 Discovering needs… In the factory we make cosmetics; in the drugstore we sell hope. Charles Revson ( Revlon )
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7 Marketing’s Second Task: Satisfying Customer Needs Potential customers: The market
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