Page 8 - DMGT408DMGT203_Marketing Management

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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