©2000PrenticeHallObjectivesCourseOrganizationTasksofMarketingMajorConcepts&ToolsofMarketingMarketplaceOrientationsMarketing’sResponsestoNewChallenges©2000PrenticeHallDefiningMarketingMarketingisasocietalprocessbywhichindividualsandgroupsobtainwhattheyneedandwantthroughcreating,offering,andfreelyexchangingproductsandservicesofvaluewithothers.-PhilipKotler(p.7)©2000PrenticeHallSimpleMarketingSystemIndustry(acollectionofsellers)Market(acollectionofBuyers)Goods/servicesMoneyCommunicationInformation©2000PrenticeHallProductionConceptProductConceptSellingConceptMarketingConceptConsumerspreferproductsthatarewidelyavailableandinexpensiveConsumersfavorproductsthatofferthemostquality,performance,orinnovativefeaturesConsumerswillbuyproductsonlyifthecompanyaggressivelypromotes/sellstheseproductsFocusesonneeds/wantsoftargetmarkets&deliveringvaluebetterthancompetitorsCompanyOrientationsTowardstheMarketplace