Workshop on “Marketing of Educational Institutes, Programmes and Services”
CORE CONCEPTS OF MARKETING
DEFINITION OF MARKETING
Marketing is a social process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others. (Philip Kotler) Marketing is the analysis, planning, implementation, and control of carefully formulated programs designed to bring about voluntary exchanges of values with target markets for the purpose of achieving organizational objectives. It relies heavily on designing the organization’s offering in terms of the target markets’ needs and desires, and on using effective pricing, communication, and distribution to inform, motivate, and service the markets. (Philip Kotler) KEY POINTS a) b) c) d) e) Managerial Process involving analysis, planning and control. (The view of marketing as social process is not of interest to us as managers)
Carefully formulated programs and not just random actions.
sending volunteers out to collect money – this is not marketing, it is selling)
(A charity organization
Voluntary exchange of values; no use of force or coercion. Offer benefits. (A museum, seeking members, tries to design a set of benefits that are appealing to potential members.) Selection of Target Markets rather than a quixotic attempt to win every market and be all things to all men. Purpose of marketing is to achieve Organizational Objectives. For commercial sector it is profit. For non-commercial sector, the objective is different and must be specified clearly. (City Health Department wishes to reduce diseases and enhance health level. National Safety Council wants to bring down the death and accident rate in the nation)
© Anil Chawla, June 2003
Core Concepts of Marketing
Marketing relies on designing the organization’s offering in terms of the target market’s needs and desires rather...