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Hitesh Jhanji, Lovely Professional University                        Unit 1: Marketing: Scope and Concepts





                      Unit 1: Marketing: Scope and Concepts                                     Notes


            CONTENTS
            Objectives

            Introduction
            1.1  Defining Marketing-related Factors
                 1.1.1  Concept of Exchange

                 1.1.2  Barter System
                 1.1.3  Needs, Wants and Demand
                 1.1.4  Marketing Components

                 1.1.5  Marketing Tasks
            1.2  Marketing Concepts
                 1.2.1  Production Concept

                 1.2.2  Product Concept
                 1.2.3  Selling Concept
                 1.2.4  Marketing Concept
            1.3  Holistic Marketing Approach

                 1.3.1  Marketing Mix
                 1.3.2  Marketing Mix Coherency and Dynamics
            1.4  Creating and Capturing Customer Value

                 1.4.1  Value Chain
            1.5  Partnering to Build Customer Relationships
            1.6  Summary

            1.7  Keywords
            1.8  Review Questions
            1.9  Further Readings


          Objectives

          After studying this unit, you will be able to:

               Define marketing and the related concepts
               Discuss the marketing concepts
               State the relevance of customer value and customer satisfaction

               Explain the concept of value chain
               Realise how marketing can help build customer relationships




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