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Course Objectives

To obtain basic understanding

of the principles, concepts,theories and techniques inmarketing.

To apply marketing principles,concepts, theories andtechniques through simpleexercises and short casestudies and a group project.

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Text

Roger Kerin, Lau Geok

Theng, te!en ". #artleyand "illiam Rudelius,

$arketing in %sia, &nd

'dition, $cGra()#ill, &*+&.

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Assessment

ndi!idual -articipation ) +*

ndi!idual ubject -ool) +* ndi!idual %ssignment ) +/

Group %ssignment ) +/ 0inal 'xamination ) /*

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Expectations

1omplete readings and assignmentsdiligently before coming to lectures and

tutorials. %ttend lectures and tutorials regularly.

-ay attention during lectures. -L'%'

23 43T 1#%T. 5e in!ol!ed in thelearning process during tutorials.

-ut in fair share of (ork in group

assignments. 2o not be a free rider.

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Tutorials

1onstitute 6* of course grade. 5egin on the third (eek. "eek +7 8 +6

re!ision. 0ortnightly t(o hours. 1onfirm your allocated tutorial group or

sign up for tutorial group. Get your assigned group and indi!idualassignments and complete them on time.

$ay ha!e to read text ahead of lecturesto complete assignments.

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esson neIntroduction to

MarketingReading: Chapter 1

%ssoc -rof Lau Geok Theng

$ochtiar Riady 5uilding 5@+)*=)+*

TelA ?/+?)7+BC

geoktheng;nus.edu.sg

http://www.nus.edu.sg/

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Marketing !e"nitionA!

% social process by (hich indi!iduals

and groups obtain (hat they needand (ant through exchanges of!alue (ith others.

-hilip Kotler

http://05.mpg/http://05.mpg/

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Marketing # !e"nition

%n organi:ational process for

creating and retaining customers bycommunicating and deli!ering !alueto them in exchanges.

9%$% 2efinition, p. ?

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Importance o$Marketing

$arketing is so basic that it cannot

be considered a separate function.t is the (hole business seen fromthe point of !ie( of its final

results, the customers.-eter 2rucker

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Exc%ange

3btaining something of !alue to

you by offering something of!alue to another party.

1onditions %t least t(o parties

$atching or mutual !alue

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Exc%ange

1onditions

1ommunication 2eli!ery

0reedom of choice3ffer and acceptance

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&eeds' (ants and!emand 4eeds

tate of depri!ation. $ost basic.3ften innate.

"ants 2ri!en by needs. 2esire for specificobjects.

2emand "ants for objects, backed by(illingness and ability to pay for

them.

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Satis$action o$ &eeds

atisfaction

Dtility 0orm, time, place, possession

1ustomer Ealue 5enefits

1osts

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T)pes o$ Exc%anges

Transaction

Relationship

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*alue O+ered T%roug%

Tangible products er!ices -laces -eople

%cti!ities 8 deas

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Market

$arket is a collection of

buyers and sellers. '!olution

elf production2ecentrali:ed market

1entrali:ed market

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,usiness P%ilosop%ies

-roduction 1oncept

-roduct 1oncept elling 1oncept

$arketing 1oncept ocietal $arketing 1oncept

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Additional -eading $or

Enric%ment

Tom French, Laura LaBergeand Paul Magill, Were All

Marketers Now, Mcinse!"uarterl!, #ul! $%&&'