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The Meaning of Marketing

Explore how marketers serve as bridge-builders, connecting company resources like capital and human assets with consumer needs for safety, affiliation, and more. Discover the four pillars of marketing strategies - product, price, place, and promotion - and how they shape consumer behavior from social science perspectives. Dive deep into consumer psychology, sociology, anthropology, and economics to understand the influences on decision-making and adoption processes.

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The Meaning of Marketing

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  1. The Meaning of Marketing

  2. Marketers are bridge-builders • On one side there is the company or organization

  3. Marketers are bridge-builders • On the other there are consumers

  4. Marketers are bridge-builders • The company or organization has resources • Capital resources • Human resources • Technical resources • Physical resources • Consumer franchise

  5. Marketers are bridge-builders • The consumers have needs • Physical • Safety • Affiliation • Prestige • Fulfillment

  6. Marketers are bridge-builders • Marketers build a bridge between the company’s resources and consumers’ needs

  7. Marketers are bridge-builders • That bridge stands on four pillars

  8. Marketers are bridge-builders • Name the pillars on which the bridge stands

  9. Marketers are bridge-builders • Name the pillars on which the bridge stands Product Price Place Promotion

  10. Marketers’ two major decisions • How to construct the pillars? • Product • Place • Pricing • Promotion • Orchestration of the Marketing Mix

  11. Marketers’ two major decisions • To where should the bridge be built? • Demographics • Geographics • Psychographics • Market Segmentation • Target Marketing

  12. Two sources of information • Consumer Behavior • Principles of the behavioral and social sciences • Marketing Research • Primary research data • Secondary research data

  13. What is Consumer Behavior? • Consumer psychology • Consumer sociology • Consumer anthropology • Consumer (behavioral) economics

  14. Social Science Perspectives • Family formation • Mating & dating • Religiosity • Political preferences • Consumer behavior • Occupational values • Financial behavior • Social affiliations • Recreational behavior Psychology Effects of psychological makeup on:

  15. Social Science Perspectives • Family formation • Mating & dating • Religiosity • Political preferences • Consumer behavior • Occupational values • Financial behavior • Social affiliations • Recreational behavior Sociology Effects of social position and conditions on:

  16. Social Science Perspectives • Family formation • Mating & dating • Religiosity • Political preferences • Consumer behavior • Occupational values • Financial behavior • Social affiliations • Recreational behavior Anthropology Effects of culture, subculture and ethnicity on:

  17. Social Science Perspectives • Family formation • Mating & dating • Religiosity • Political preferences • Consumer behavior • Occupational values • Financial behavior • Social affiliations • Recreational behavior Economics Effects of income, wealth and earning power on:

  18. Psychology Sociology Anthropology Economics Consumer Behavior perspectives Consumer Behavior

  19. Structure of the course • Consumer psychology • Needs • Motives • Perception • Learning • Personality

  20. Structure of the course • Consumer social psychology • Communications • Attitude formation • Attitude change

  21. Structure of the course • Consumer sociology • Reference groups • Group dynamics • Social class

  22. Structure of the course • Consumer anthropology • Culture • Subculture • Ethnicity

  23. Structure of the course • Consumer economics • Decision making • Perceive risk • Innovation diffusion • Adoption process

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