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Nature and Scope of Marketing
Presentation 1
By Jyoti Sikka, S.S.C.B.S.
The Importance of Marketing in
Our Global Economy
Marketing costs consume a sizable
portion of buyers’ dollars
Marketing is used in nonprofit
organizations
Marketing is important to business
Marketing fuels our
global economy
The Importance of Marketing in
Our Global Economy (cont’d)
Marketing knowledge enhances
consumer awareness
Marketing connects people through
technology
Socially responsible marketing can
promote the welfare of customers and
society
Marketing offers many
exciting career prospects
Marketing Is Important to You!
Important to every consumer!
Important to your job!
Affects economic growth and
standard of living!
Definition
Marketing: “The (1) process of (2)
planning and (3) executing the (4)
conception, (5) pricing, (6)
promotion, and (7) distribution of (8)
ideas, (9) goods, and (10) services to
create (11) exchanges that (12)
satisfy (13) individual and (14)
organizational (15) objectives.”
(American Marketing Association
“official” old definition [numbering
added].)
Definition: AMA new
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.
Marketing: the big picture
Creating
Value
Exchange
A
B
Delivering
Value
Communicating
Value
Marketing Management: Definitions
Marketing management is the
art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.
The Scope Of Marketing
Marketers are
involved with
marketing ten
types of entities:
1. Physical Goods
2. Services
3. Experiences
4. Events
5. Persons
6. Places
7. Properties
8. Organizations
9. Information
10. Ideas
Key terms
 Marketer
 Prospect
Demand States
 Negative
 Nonexistent
 Latent
 Declining
 Irregular
 Unwholesome
 Full
 Overfull
Exchange and Marketing
Pots
Hats
Baskets
Hoes
Knives
Ten exchanges required
without central market
In very basic economic
systems, each seller
must meet directly with
each buyer in order to
exchange something of
value. As needs
increase, the number of
exchanges can soon
become unmanageable
for one person.
Exchange and Marketing
In a centralized market,
a buyer can go to one
location to find many
different products from
many different sellers.
By reducing the time both
buyers and sellers must
spend to complete an
exchange, prices can be
lowered.
Pots
Central
market
middleman
Hats
Hoes
Baskets
Knives
Five exchanges required
with central market
Satisfying Exchange
Relationships
Exchange
The provision or transfer of goods,
services, or ideas in return for something
of value
The Concept of Exchange
At Least Two Parties
Something of Value
Necessary
Conditions for
Exchange
Communication and Delivery
Freedom to Accept or Reject
Desire to Deal With Other Party
Key Customer Markets
Consumer markets
Business markets
Global markets
Nonprofit/Government markets
Marketplace
Market space
Meta markets- cluster of
complementary products and services
A Simple Marketing System
COMMUNICATION
GOODS & SERVICES
INDUSTRY
(A collection
of sellers)
MONEY
INFORMATION
MARKET
(A collection
of buyers)
Structure Of Flows In A Modern Exchange Economy
Resources
Resources
Resource
Markets
Money
Taxes &
Goods
Manufacturer
Markets
S&m
Government
Markets
Money
Services
& Money
Services
Consumer
Markets
Taxes
Taxes &
Goods
S&m
T&g
Money
Money
Intermediary
Markets
Goods & Services
Goods & Services
The marketplace isn’t what it used to be….
 Changing
technology
 Globalization
 Deregulation
 Privatization
 Empowerment
 Customization
 Convergence
 Disintermediation
QUESTIONS ??????