Priniciples of Marketing

Principles of Marketing by Philip Kotler
Twelfth Edition Presented by Ms. Ayesha Farooq

Bahria Institute Of Management Sciences

Chapter 1 Marketing: Managing Profitable Customer Relationship

Chapter Objectives
 What is marketing?  Understanding the market place & customer

needs.  Designing a customer driven marketing strategy.  Prepare a marketing plan & program building customer relationships.  Capturing value from customers.  The new marketing landscape.  So, what is marketing pulling it all together.

Marketing

Marketing Defined

customer.

What is Marketing?
 Marketing is the process by which companies

create value for customers & build strong customer relationships in order to capture value from customers in return.
 Marketing is all about” satisfying customer

needs”

Goal of Marketing:
 To attract new customers by promising

superior value.
 To keep & grow current customers by

delivering satisfaction

A simple model of the marketing process

Create value for customers & build customer relationships
Construct an integrated marketing program that delivers superior value

Capture value from customers in return
Capture value from customers to create profits & customer equity.

Understand the marketplace & customer needs & wants

Design a customer driven marketing strategy

Build profitable relationships & create customer delight

Core definitions
 Needs: Needs are the basic human requirements

e.g food, water, air, shelter.
 Wants: Are the form human needs take as shaped

by culture and individual responsibility.
 Demands: Human wants that are backed by buying power.  Market offering: Some combination of products, services,

information, or experiences offered to a market to satisfy a need or want. Eg, banks, airlines.

 Marketing Myopia: The mistake of paying more

attention to the specific products a company offers than to the benefits & experiences produced by these... [continues]

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