Marketing Fundamentals

Module 1: What is Marketing?

Learning Objectives

• Define marketing and explain its role
• Understand marketing's evolution
• Distinguish marketing from sales and advertising
• Develop a marketing mindset

Key Concepts

Marketing Defined Marketing is creating, communicating, and delivering value to customers. It's about understanding needs, creating solutions, and building relationships—not manipulation.

Evolution of Marketing

1. Production Era (late 1800s-1920s): "Build it and they will buy"
2. Sales Era (1920s-1950s): Aggressive selling tactics
3. Marketing Era (1950s-1990s): Customer-centric approach
4. Relationship Era (1990s-2010s): Building loyalty
5. Digital/Social Era (2010s-Present): Interactive, data-driven, personalized

Marketing vs. Sales vs. Advertising

• Marketing: The umbrella—research, product development, pricing, distribution, promotion, analysis
• Sales: Direct interaction converting interest into purchases
• Advertising: Paid promotional messages (one tool within marketing)

The Marketing Mindset

• Customer-centric thinking
• Value creation focus
• Strategic perspective
• Data-informed decisions
• Adaptability
• Storytelling ability

Exercise

Keep a 3-day marketing journal. Identify three marketing activities daily, noting what was marketed, the channel used, the need addressed, and effectiveness.