what is marketing ?? andd?

[cute b]

wt are the concepts of marketing????:............wt are the stretegies of marketing really need help ...for asignment

[fareha]

•today’s successful; companies at all levels have one thing in common.
•All successful companies are strongly customer focused and heavily committed to marketing.
•To be successful, an organization motivates everyone in the organization to produce superior value for their customers, leading to high levels of customer satisfaction.
What is marketing?
•Creating customer value and satisfaction are at the very heart of modern marketing thinking and practice.
•Sound marketing is critical to the success of every organization.
•It’s all around you.
Marketing Defined
Many people think of marketing only as selling and advertising.
•Marketing is no longer “telling and selling.”
•Marketing’s new sense is concerned with satisfying customer needs.
Needs, Wants, and Demands
Needs:
Human needs are the most basic concept underlying marketing. A human need is a state of felt deprivation.
1). Humans have many complex needs:
•Basic, physical needs for food, clothing, warmth, and safety.
•Social needs for belonging and affection.
•Individual needs for knowledge and self-_expression.
Wants:
Another concept in marketing is human wants. A human want is the form that a human need takes as shaped by culture and individual personality.
Demands:
•Demands are human wants that are backed by buying power.
•Consumers view products as bundles of benefits and choose products that give them the best bundle for their money.
•People demand products with the benefits that add up to the most satisfaction.
Outstanding marketing companies go to great lengths to learn about and understand their customer’s needs, wants, and demands.
Products, Services, and Experiences
•A product is anything that can be offered to a market to satisfy a need or want. A service is an activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything.
oThe concept of product is not limited to physical objects and can include experiences, persons, places, organizations, information, and ideas.
oBe careful of paying attention to the product and not the benefit being satisfied.
Exchanges, Transactions, and Relationships
Exchange
•Marketing occurs when people decide to satisfy needs and wants through exchange.
•Exchange is the act of obtaining a desired object from someone by offering something in return.
•Exchange is only one of many ways to obtain a desired object.
•Exchange allows a society to produce much more than it would with any alternative system.
Transaction
•A trade of values between two parties.
•A transaction usually involves at least two things of value, agreed-upon conditions, a time of agreement, and a place of agreement.
•Most involve money, a response, and action.
Relationships
•A transaction in marketing is part of a larger idea of relationship marketing.
•Beyond creating short-term transactions, marketers need to build long-term relationships with valued customers, distributors, dealers, and suppliers.
•Ultimately, a company wants to build a unique company asset called a marketing network
•The goal of relationship marketing is to deliver long-term value to the customer, and thereby secure customer satisfaction.
Marketing Management Practice
Marketing practice often passes through three stages:
1.Entrepreneurial marketing: most companies are started by individuals who live by their intelligence.
2.Formulated marketing: As small companies achieve success, they inevitably move toward more formulated marketing.
3.Intrepreneurial marketing: If companies lose their passion and marketing creativity, they must reestablish their companies with interpreneurship at the local level.
Marketing Management Philosophies
There are five alternative concepts under which organizations conduct their marketing activities: the production, product, selling, marketing, and societal marketing concepts:
The Production Concept
•The production concept holds that consumers will favor products that are available and highly affordable and that management should, therefore, focus on improving production and distribution efficiency. This is one of the oldest philosophies that guide sellers.
•The production concept is useful when:
a.Demand for a product exceeds the supply.
b.The product’s cost is too high and improved productivity is needed to bring it down.
The risk with this concept is in focusing too narrowly on company operations. Do not ignore the desires of the market.
The Product Concept
The product concept states that consumers will favor products that offer the most quality, performance, and features, and that the organization should, therefore, devote its energy to making continuous product improvements.
The Selling Concept
•Many organizations follow the selling concept.
•The selling concept is the idea that consumers will not buy enough of the organization’s products unless the organization undertakes a large-scale selling and promotion effort.
•This concept is typically practiced with unsought goods (those that buyers do not normally think of buying).
•Industries that use this concept usually have overcapacity. Their aim is to sell what they make rather than make what will sell in the market.
•There are not only high risks with this approach, but low satisfaction by customers.
The Marketing Concept
•The marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do.
•The marketing and selling concepts are often confused. The primary differences are:
•The selling concept takes an “inside-out” perspective (focuses on existing products and uses heavy promotion and selling efforts).
•The marketing concept takes an “outside-in” perspective (focuses on customer needs, values, and satisfactions).
Many companies claim to adopt the marketing concept but really do not unless they commit to market-focused and customer-driven philosophies.
The Societal Marketing Concept
•The societal marketing concept holds that the organization should determine the needs, wants, and interests of target markets. It should then deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves the consumer’s and the society’s well-being.
•The societal marketing concept is the newest of the marketing philosophies.
•According to the societal marketing concept, the marketing concept overlooks possible conflicts between short-run consumer wants and long-run consumer welfare.
•The societal concept calls upon marketers to balance three considerations in setting their marketing policies:
a.Company profits.
b.Customer wants.
c.Society’s interests.