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0:00
Hello, and welcome
to this session
on what is marketing
and how has it changed.
My name is Annmarie Hanlon,
and I teach marketing at Cranfield
University's School of Management
in the UK.
Some of these themes are taken
from my book, Digital Marketing.
Let's get started.
0:20
In this session, we explore
marketing as an exchange process.
We'll look into an overview
of market channel decisions,
and we'll explore official
definitions of marketing
and examine how it has changed,
to better understand the concept.
0:38
Marketing has always existed where
we exchange goods or services
in return for something of value
such as money or other goods.
An exchange can be relatively
straightforward between
a customer and a retailer,
or involve many parties.
For example, if you buy bread
or pasta from a food store,
the food producer has
to make the goods.
The bread requires flour, water and
salt, which the baker must buy.
They turn the raw ingredients
into a finished item,
and when selling to a retailer,
may place 12 loaves in
a basket to be sold.
Making pasta always requires flour
and water, and sometimes eggs.
This may be manufactured
at an industrial scale,
where many tonnes of flour
are added into a machine
mixed with water and
other raw ingredients.
After processing, it's
transformed into shapes.
When pasta shapes are formed,
further ingredients may be added.
The finished pasta product requires
packaging in individual units
and larger boxes for resale.
In this situation, the parties
involved include the makers,
the machinery manufacturers,
packaging suppliers,
delivery companies,
and the food stores.
From the flour to the finished goods,
there are many levels of exchange.
The levels of exchange can be impacted
by strategic channel decisions.
