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    Principles of Marketing Philip Kotler and Gary Armstrong

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    Hashir Khan
    The document discusses the core concepts of marketing including identifying consumer needs and wants in order to deliver customer satisfaction and value through products and services. It explains that the goal of marketing is to facilitate exchanges between buyers and sellers to achieve organizational goals. Additionally, it covers marketing management philosophies such as the production, product, selling, and marketing concepts which focus on different aspects like availability, quality, promotion, and customer satisfaction.

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    © All Rights Reserved
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    Principles of Marketing Philip Kotler and Gary Armstrong

    Uploaded by

    Hashir Khan
    2K views17 pages
    The document discusses the core concepts of marketing including identifying consumer needs and wants in order to deliver customer satisfaction and value through products and services. It explains that the goal of marketing is to facilitate exchanges between buyers and sellers to achieve organizational goals. Additionally, it covers marketing management philosophies such as the production, product, selling, and marketing concepts which focus on different aspects like availability, quality, promotion, and customer satisfaction.

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    The document discusses the core concepts of marketing including identifying consumer needs and wants in order to deliver customer satisfaction and value through products and services. It explains that the goal of marketing is to facilitate exchanges between buyers and sellers to achieve organizational goals. Additionally, it covers marketing management philosophies such as the production, product, selling, and marketing concepts which focus on different aspects like availability, quality, promotion, and customer satisfaction.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    2K views17 pages

    Principles of Marketing Philip Kotler and Gary Armstrong

    Uploaded by

    Hashir Khan
    The document discusses the core concepts of marketing including identifying consumer needs and wants in order to deliver customer satisfaction and value through products and services. It explains that the goal of marketing is to facilitate exchanges between buyers and sellers to achieve organizational goals. Additionally, it covers marketing management philosophies such as the production, product, selling, and marketing concepts which focus on different aspects like availability, quality, promotion, and customer satisfaction.

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    © All Rights Reserved
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    PRINCIPLES OF MARKETING

    Philip Kotler and Gary Armstrong

    Chapter
    Chapter 11
    Marketing in a Changing World:
    Creating Customer Value and
    Satisfaction
    What
    What is
    is Marketing?
    Marketing?

    • Process by which individuals and


    groups obtain what they need and
    want through creating and
    exchanging products and value with
    others.

    • More simply: Marketing is


    identifying the consumer needs and
    delivery of customer satisfaction
    (through 4 Ps)at a profit.
    Core
    Core Marketing
    Marketing
    Concepts
    Concepts

    Products
    Needs, wants, and
    and demands Services

    Core
    Core
    Marketing
    Marketing
    Concepts
    Concepts
    Markets
    Value, satisfaction,
    and quality

    Exchange, transactions,
    and relationships
    What
    What Motivates
    Motivates aa Consumer
    Consumer
    to
    to Take
    Take Action?
    Action?
    • Needs - state of felt deprivation for basic
    items such as food and clothing and complex
    needs such as for belonging. i.e. I am thirsty

    • Wants - form that a human need takes as


    shaped by culture and individual personality.
    i.e. I want a Coca-Cola.

    • Demands - human wants backed by buying


    power. i.e. I have money to buy a Coca-Cola.
    What
    What is
    is Marketing?
    Marketing?

    • Process by which individuals and


    groups obtain what they need and
    want through creating and
    exchanging products and value with
    others.

    • More simply: Marketing is


    identifying the consumer
    needs/marketIng gaps and delivery
    of customer satisfaction (through 4
    Ps)at a profit.
    What
    What Will
    Will Satisfy
    Satisfy Consumer’s
    Consumer’s
    Needs
    Needs and
    and Wants?
    Wants?

    • Products - anything • Services - activities or


    that can be offered to a benefits offered for
    market for attention, sale that are
    acquisition, use or essentially intangible
    consumption and that and don’t result in the
    might satisfy a need or ownership of anything.
    want. • Examples: banking,
    • Examples: persons, airlines, haircuts, and
    places, organizations, hotels.
    activities, and ideas.
    How
    How DoDo Consumers
    Consumers Choose
    Choose
    Choose
    Choose Among
    Among Products
    Products and
    and
    Services?
    Services?
    • Customer Value - benefit that the customer
    gains from owning and using a product
    compared to the cost of obtaining the
    product.

    • Customer Satisfaction - depends on the


    product’s perceived performance in
    delivering value relative to a buyer’s
    expectations. Linked to Quality and Total
    Quality Management (TQM).
    How
    How do
    do Consumers
    Consumers Obtain
    Obtain
    Products
    Products and
    and Services?
    Services?
    • Exchanges - act of obtaining a desired object from
    someone by offering something in return.

    • Transactions - trade of values between parties.


    Usually involves money and a response.

    • Relationships - building long-term relationships


    with consumers, distributors, dealers, and
    suppliers.
    Who
    Who Purchases
    Purchases Products
    Products
    and
    and Services?
    Services?

    Actual
    Actual
    Market
    Market -- buyers
    buyers Buyers
    Buyers
    who
    who share
    share aa
    particular
    particular need
    need
    or
    or want
    want that
    that can
    can
    be
    be satisfied
    satisfied by
    by aa
    company’s
    company’s products
    products Potential
    Potential
    or
    or services.
    services. Buyers
    Buyers
    End
    End User
    User
    Market
    Market
    Marketing
    Marketing
    Intermediaries
    Intermediaries

    Environment
    Environment

    Company
    Company Competitors
    Competitors
    (Marketer)
    (Marketer)
    Suppliers
    Suppliers
    Modern Marketing
    Modern System
    Marketing System
    Marketing
    Marketing Management
    Management

    Marketing Management
    Implementing programs to create exchanges
    with target buyers to achieve organizational
    goals

    Demand Management
    Finding and increasing demand, also
    changing or reducing demand

    Profitable Customer Relationships


    Attracting new customers and
    retaining current customers
    Marketing
    Marketing Management
    Management
    Philosophies
    Philosophies
    • Consumers favor products that are
    Production
    Production Concept
    Concept available and highly affordable
    • Improve production and distribution

    • Consumers favor products that offer


    Product
    Product Concept
    Concept the most quality, performance, and
    innovative features
    • Consumers will buy products only if
    Selling
    Selling Concept
    Concept the company promotes/ sells these
    product

    • Focuses on needs/ wants of target


    Marketing
    Marketing Concept
    Concept markets & delivering satisfaction
    better than competitors

    • Focuses on needs/ wants of target


    Societal markets & delivering superior value
    Societal Marketing
    Marketing Concept
    Concept • Society’s well-being
    Marketing
    Marketing && Sales
    Sales
    Concepts
    Concepts
    Contrasted
    Contrasted
    Starting Focus Means Ends
    Point

    Selling Profits
    Existing
    Factory and through
    Products
    Promoting Volume
    The Selling
    The Concept
    Selling Concept

    Profits
    Customer Integrated
    Market through
    Needs Marketing
    Satisfaction
    The Marketing
    The Concept
    Marketing Concept
    Societal
    Societal Marketing
    Marketing Concept
    Concept
    Society
    Society
    (Human
    (Human Welfare
    Welfare))

    Societal
    Societal
    Marketing
    Marketing
    Concept
    Concept
    Consumers
    Consumers Company
    Company
    (Wants)
    (Wants) (Profits)
    (Profits)
    New
    New Marketing
    Marketing Challenges
    Challenges
    New
    Marketing
    Landscape &
    Information Nonprofit
    Technology Marketing

    Emerging
    Emerging
    Ethical
    Concerns
    Challenges
    Challenges Globalizatio
    n
    Changing
    World
    Economy
    Important terms :

    • Target audience: for whom we exist in th market


    • Market share=sales of company A/sales of an
    industryX100
    • Market gap=
    Goods=tangible goods
    Service= intangible goods
    Product=goods+services
    Vaueaddition=selling price –(cost of raw material+other
    components)

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