BUS 1010: THE MARKETING
MANAGEMENT
, LEARNING OUTCOMES
By the end of this week, one should be able to:
• Explain concept of marketing & identify five
forces that constitute external marketing
environment.
• Discuss marketing mix as it applies to any
business.
• Explain market segmentation & how it is used in
target marketing.
• Describe consumer buying process & key
factors that influence that process.
, THE MARKETING CONCEPTS
Marketing
• The American Marketing Association defines marketing as “activities, a
set of institutions, & processes for creating, communicating, delivering
& exchanging offerings that have value for customers, clients, partners,
& society at large”.
• Purpose of good marketing is simply to attract customers & create
sales.
• Without giving due attention to marketing, a business will become
increasingly irrelevant to buyers, & sales will decline, profit & cash flow
will dry up & business eventually fail.
• Hence, small businesses should do their marketing well.
• Marketing is whole business from customers’ point of view. Includes
everything a business must do to get its products/services sold.
• Marketing tends to primarily focus on needs, preferences, & tastes of
customers or those who end up consuming products.
MANAGEMENT
, LEARNING OUTCOMES
By the end of this week, one should be able to:
• Explain concept of marketing & identify five
forces that constitute external marketing
environment.
• Discuss marketing mix as it applies to any
business.
• Explain market segmentation & how it is used in
target marketing.
• Describe consumer buying process & key
factors that influence that process.
, THE MARKETING CONCEPTS
Marketing
• The American Marketing Association defines marketing as “activities, a
set of institutions, & processes for creating, communicating, delivering
& exchanging offerings that have value for customers, clients, partners,
& society at large”.
• Purpose of good marketing is simply to attract customers & create
sales.
• Without giving due attention to marketing, a business will become
increasingly irrelevant to buyers, & sales will decline, profit & cash flow
will dry up & business eventually fail.
• Hence, small businesses should do their marketing well.
• Marketing is whole business from customers’ point of view. Includes
everything a business must do to get its products/services sold.
• Marketing tends to primarily focus on needs, preferences, & tastes of
customers or those who end up consuming products.
