Module 1
Marketing Management
Commonwealth Executive MBA
MBA General
Units 1 - 5
,Unit 1 Definition of Marketing
• "Marketing is a human activity directed at satisfying
needs and wants" (Kotler)
• "The management process responsible for
identifying, anticipating and satisfying customer
requirements profitably" (CIM)
• “Marketing - The right product, in the right place, at
the right time, and at the right price” - Adcock et al
2
, Differences Between Sales and Marketing
• Selling focuses on the needs of the seller;
marketing on the needs of the buyer.
– Selling is preoccupied with the need of the seller
to convert his product into cash.
• Marketing with the idea of satisfying the
needs of the customer by means of the
product and the whole cluster of things
associated with creating, delivering and
consuming it.
3
, Strategic Orientation of Marketing
§ A company may be ‘Aggressive’, ‘Caring’,
‘Ethical’ – Perceptions held by public
§ Most Common Marketing Approaches
– Production Concept
– Product Concept
– Sales Concept
– Marketing Concept
– Consumer Concept
– Profit Concept
4
Marketing Management
Commonwealth Executive MBA
MBA General
Units 1 - 5
,Unit 1 Definition of Marketing
• "Marketing is a human activity directed at satisfying
needs and wants" (Kotler)
• "The management process responsible for
identifying, anticipating and satisfying customer
requirements profitably" (CIM)
• “Marketing - The right product, in the right place, at
the right time, and at the right price” - Adcock et al
2
, Differences Between Sales and Marketing
• Selling focuses on the needs of the seller;
marketing on the needs of the buyer.
– Selling is preoccupied with the need of the seller
to convert his product into cash.
• Marketing with the idea of satisfying the
needs of the customer by means of the
product and the whole cluster of things
associated with creating, delivering and
consuming it.
3
, Strategic Orientation of Marketing
§ A company may be ‘Aggressive’, ‘Caring’,
‘Ethical’ – Perceptions held by public
§ Most Common Marketing Approaches
– Production Concept
– Product Concept
– Sales Concept
– Marketing Concept
– Consumer Concept
– Profit Concept
4
