Role of Marketing in an Organization

LO1: Explain the role of marketing and how it interrelates with other
business units of an organization
 Definition of marketing:
Marketing :is a process through which businesses produce value for customers and establish
trusting connections with them in order to obtain value from them in return (earnings).
 Explain the concept of marketing and marketing operations (Definition - The student
should explain the five marketing concept then give specific example for each and
explain the five steps of marketing process) P1
Steps of Marketing process:
1. Understanding the Marketplace and Customer Needs
2. Designing a Customer-Driven Marketing Strategy
3. Construct an integrated marketing program that delivers superior value
4. building profitable customer relationships
5. Capture value from customers to create profits and customer equity
1. Understanding the Marketplace and Customer Needs:
• Customer Needs , Wants, and Demands
• Market Offerings (products , services satisfy needs and wants)
• Customer Value and Satisfaction
• Exchanges and relationships
• Market

• Customer Needs , Wants, and Demands
Needs: states of deprivation
Physical-food,clothing,warmth,safety.
Social acceptance and affection
Self-awareness and expression on an individual level
Wants: The shape that needs take when they are influenced by culture and personal
demands: desires supported by purchasing power
• Market Offerings (products , services satisfy needs and wants)
Market Offerings: Items, Services, and Experiential
Market offerings are a collection of goods, services, experiences, ideas, people, places,
etc. that are provided to a market in order to meet a need or a want.
• Customer Value and Satisfaction
Not giving high attention to customers. or little attention.
The amount of interest must be equal to the amount of service provided

• Exchanges and relationships
Exchange is the process of getting something you want from someone by giving them
something in exchange.
By continually providing higher consumer value, marketers hope to establish long-
lasting relationships.
• Market
is the set of actual and potential buyers of a product
2. Designing a Customer-Driven Marketing Strategy
Marketing Management:is the practice of selecting profitable partnerships and target
markets.
By generating, providing, and conveying exceptional customer value, marketing
managers should engage, retain, and expand target customers.
• To create a successful marketing plan, the marketing manager must respond to two
crucial questions:
What types of clients will we serve?
• Value Proposition: What is the best way for us to serve these customers?
Market segmentation refers to the division of markets into client segments.
Which market categories to target is referred to as target marketing.
The value proposition is the collection of advantages or values that a business offers to
offer clients in order to meet their demands.