Chapter 1 Overview of Marketing A Marketing is the activity set of institutions and processes for creating I Marketing communicating delivering and exchanging offerings that have value for customers clients partners and society at large would rather have people giving up something in order to receive something that they B Exchange a Must be at least 2 parties b Each party has something that might be of value to the other party c Each party is capable of communication and delivery d Each party free to accept and reject offers e Each party thinks it is appropriate and acceptable to deal with the other II Marketing Management Philosophy party A Production Orientation of the firm rather than on the desires and needs of the marketplace a philosophy that focuses on the internal capabilities a Evaluating resources and producing goods services based on resources regardless of customer taste and need b If you build it they will come B Sales Orientation is based on the ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits a Lack the needs and understanding of what the consumer wants C Market Orientation articulates a market orientation Sates that the social and economic justification for an organizations existence is the satisfaction of the customer s wants and needs while meeting organizational objectives a Focus on customer to distinguish product service b Market Oriented Firm force but rather on a customer s decision to purchase a product service sales does not depend on an aggressive sales D Social Marketing Orientation the idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals and societies long term best interest a Being Green III Difference b n Sales and Market Orientation A 5 Characteristics a Organization s Focus i Focuses on what the organizations makes and are inward looking ii Customer Satisfaction iii Customer Value iv Building Relationships v Teamwork b The Firms Business i Sales Oriented defines business in terms of goods or services sold ii Market Oriented benefits the customers seek c Those to Whom the Product is Directed i Sales Oriented targets products to everyone ii Market Oriented targets specific group d Firms Primary Goal i Sales Oriented seeks profit through sales volume ii Market Oriented profit by creating value in the customer
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