Marketing
Foundations of Marketing
1 · What Is Marketing?
“Marketing is human activity directed at satisfying needs & wants through an exchange process.” — Philip Kotler
Needs → Wants → Demand: Basic needs (food) evolve into wants (delicious food); when purchasing power joins the mix, we get demand.
4P Mix: Product · Price · Place · Promotion — the classic toolkit for turning demand into value.
Kotler calls marketing customer satisfaction; every corporate action around product planning, pricing, distribution, and promotion is ultimately about delighting a specific market.
2 · Core Concepts at the Heart of Marketing
| Concept | Slide Highlights |
|---|---|
| Need / Want / Demand | Demand constantly shifts—beverages have one of the shortest cycles. |
| Product (or “Offer”) | Anything that can satisfy a need: goods, services, people, places, ideas. |
| Customer Value | Value = Benefits – Cost. The gap between what customers get and what they pay. |
| Customer Satisfaction | Performance vs expectations: < = disappointment, == satisfaction, > delight. |
| Quality & TQM | Total Quality Management (TQM) drives Return on Quality (ROQ) and feeds satisfaction. |
| Exchange & Transaction | The unit of marketing action—trading value to trigger a response (buy, vote, join). |
| Market | The set of buyers able & willing to exchange resources for what they want. |
3 · The Marketing Process (STP → 4P)
Segmentation — Divide the broad market into homogeneous slices.
Targeting — Choose the slice the firm can serve best.
Positioning — Plant the product’s unique promise in consumers’ minds.
Marketing Mix — Craft the optimal 4P blend to deliver that promise.
Strategic vs Tactical:
Strategic marketing shapes concept, testing, and long‑term positioning.
Tactical marketing tracks sales, image, price comparisons, and communications.
4 · Environmental Analysis — 3C & SWOT
3C Analysis: Company · Competition · Customer (strengths, weaknesses, opportunities, threats).
SWOT grids pair internal strengths/weaknesses with external opportunities/threats to derive OS/OW/TS/TW strategies—expansion, alliances, cutback, etc.
(The slides apply SWOT to a premium ice‑cream entry; worth a revisit later.)
5 · Marketing Mix in Action
Product Life Cycle (PLC)
| Stage | Competition | Profit | Strategy Focus |
| Intro | None | 0 | Improve prototype, high price, awareness‑building promos |
| Growth | Few | Peak | Market penetration, prevent rivals |
| Maturity | Many | Shrinking | Diversify, brand differentiation, loyalty ads |
| Decline | Few | 0 | Harvest, minimal promo, channel pruning |
BCG Matrix
Star (growth ↑, share ↑) — invest for long‑term profit.
Question Mark (growth ↑, share ↓) — decide: build or divest.
Cash Cow (growth ↓, share ↑) — harvest cash, maintain.
Dog (growth ↓, share ↓) — withdraw or niche.
4P Drill‑Down Highlights
Product: Quality, variety, new‑use discovery.
Price: High in intro/growth, drop for inventory clearance in decline.
Place: Exclusive/selective early; open distribution later.
Promotion: Heavy awareness early, loyalty & differentiation mid‑cycle, minimal late.
6 · Case Snapshot — Samsung “Zippel” Refrigerator
Target: High‑income (₩3 M+), homeowners > 40 pyeong.
Need: Luxury, large capacity, desire to show off.
Positioning: Separate “Zippel” brand from Samsung; premium double‑door design.
Outcome: Rapid market leadership in the high‑end fridge segment.
Closing Thoughts
Marketing turns abstract human desires into concrete exchange—and profit. Next post I’ll zoom into STP with live examples from the ice‑cream SWOT and explore how segmentation variables actually play out.
As always, call out any misreads; this log stays raw and honest.
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