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MKTG 504 - MARKETING
Introduction
Dr. Dennis Pitta
University of Baltimore
What is Marketing?
Social Activity - carried on by
human beings.
Aimed at satisfying NEEDS +
WANTS.
Exchange!!
MARKETING
Process in SocietyPeople and organizations with
diverse wants and needs
ATTEMPT to satisfy them by
forming mutually satisfying
exchange relationships.
Of what value are dogs?
Dogs are...
________________
________________
________________
________________
________________
________________
Why would Pitta want a dog?
Wants are….
Diverse
Can be really unique
Not always identified easily
Great - great motivators
The result…..
Two just to be sure!!
Ways of Satisfying
NEEDS and WANTS
Coercion
Transfer
Origination
Exchange
Net Satisfaction by Method
Party 1
Origination
Coercion
Transfer
Exchange
Party 2
Net
Marketing Exchange …
COMPLEX
Let’s take a car example
1989 Honda Accord
($1,000) _________________
Marketing Exchange …
COMPLEX
Let’s take another car
example
2007 Rolls Royce Silver
Wraith ($250,000)
_________________
Marketing Exchange…
COMPLEX
Let’s take another car
example
2007 Volvo 4 W drive
station wagon ($49,000)
_________________
Marketing Exchange
COMPLEX
Let’s take yet another car
example
1970 VW Beetle with
‘Continental hood and rear’
($4,000) _________________
Marketing Exchange
COMPLEX
UTILITARIAN
SYMBOLIC
PSYCHOLOGICAL
SOCIAL
Marketing and Utility
UTILITY = The satisfaction
value, or usefulness a user
receives from a good or
service in relation to his or her
wants.
(( Utility = SATISFACTION))
MARKETING CREATES:
PLACE UTILITY
TIME UTILITY
POSSESSION UTILITY
Ancient History
Marketing - as an academic
discipline - dates back to ~
1921.
Universal Marketing Function
Buying
Selling
Transporting
Storing
Standardizing and Grading
Finance
Risk Taking
Market Investigation
Gaps in Marketing
Gaps exist between
those with wants
and those who can
satisfy those wants
Gaps in Marketing
Perceptual
Temporal
Spatial
Valuational
Ownership
Gaps in Marketing
Perceptual
First
Person
Temporal
Spatial
Valuational
Ownership
Second
Person
Bridging Gaps in Marketing
Perceptual (Communication)
Temporal ( Storage)
Spatial (Transportation)
Valuational (Communication)
Ownership (Exchange)
Bridging Gaps in Marketing
Perceptual
======COMMUNICATION=====
First
Person
Temporal
======STORAGE=====
Spatial
=====TRANSPORTATION===
Valuational
=====COMMUNICATION=====
Ownership
=====EXCHANGE=====
Second
Person
The Evolution of Marketing
Production Orientation
Sales orientation
Marketing Orientation
Social Orientation
Production Orientation
Production emphasized
Company focus
Consumer often ignored
Sales Orientation
Company Focus
Sales (volume) Emphasized
Stress on Selling Tactics
Marketing Orientation
Focus: the Consumer
Profit Orientation
Integration of the Firm
Societal Orientation
Focus: the Consumer
Profit Orientation
Integration of the Firm
Recognition that society is an
Exchange Partner
Upcoming Topics
Marketing’s Environment