1. Prof Prashant Kumar Gupta
Lecturer: Jain College Of MBA and MCA

2. What will we be learning..???
What is marketing?
Why is marketing important?
What is the scope of marketing?
Some fundamental marketing concepts.
Marketing : Micro and Macro concept

3. Marketing…????
Meeting
Needs
Profitably

4. Marketing Management
 Marketing is an organisational function
 And a set of processes
 For creating, communicating, and delivering
 Value to customers
 And for managing customer relationships
 In ways that benefit the organisation and the
stakeholders

5. Marketing Management
The social side of it
 A societal process
 Individuals or groups obtain their needs and wants
 Create, offer and freely exchange
 Products and services of value

6. Understanding Marketing
 It is an art as well as science.
 Choosing target markets.
 Get, keep and grow customers.
 Create, deliver and communicate superior
customer value

7. Communicating Superior Value

8. What is
MARKETED…???
Goods
Experience
Events
Place
Services
Properties
Organisations
People
Ideas

9. Basic Terms:
Exchange & Transaction

10. Exchange & Transaction
The act of obtaining a desired object from
someone by offering something in return
5 Conditions for an exchange to happen:• Existence of two parties
• Each party must have something of value to the other
• Each party is capable of communication & delivery
• Each party is free to accept or reject the offer
• Each party believes that it is appropriate to deal
with the other party

11. Exchange & Transaction
Two parties are in the process of exchange
when they negotiate
When they mutually agree on the terms and conditions
it becomes a transaction, an event

12. Basic Terms:
Needs, Wants & Demands
Need:• Basic human requirements like food, clothing and shelter
• Can also include needs like education and recreation
• Find out types of needs
Want:• Need directed to specified object
• Is shaped by culture and individual
• Might satisfy the need
Demand:• Wants backed by purchasing power

13. Basic Terms:
Value & Satisfaction
Value:• Reflects perceived tangible & intangible benefits & costs
• Usually combination of quality, service and price
Satisfaction:• Customer’s comparative judgment of expectation and
perceived performance
 Customer Expectation=Performance =>Satisfaction
 Customer Expectation>Performance => Dissatisfaction
 Customer Expectation<Performance => High Satisfaction

14. Basic Terms:
Offering & Branding
Offering:• Needs are addressed by value proposition
• Set of benefits offered to satisfy needs
• Value proposition is made physical by an offering
Branding:• An offering from a known source
• All companies strive to build a strong, favourable and
unique image

15. Basic Terms:
Market
 Physical place
 Buyers and Sellers meet
 Transaction happens
 Key customer markets:1.
2.
3.
Consumer Market
Business Market
Global Market

16. Who Markets…???
A
Marketer is someone who
seeks a Response from a
party , referred as
Prospect.

17. Marketer
 Skilled in stimulating demand.
 Responsible for demand
management, i.e., identify
the demand state and
determine plan for it.
 There are eight
Demand States of a consumer
which need to be identified.

18. Demand States
 Negative Demand: Customers dislike the product and may even pay
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
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

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a price to avoid it.
Non-existent Demand: Customers may be unaware or uninterested
in the product.
Latent Demand: Consumers may have a strong need that cannot be
satisfied by an existing product.
Declining Demand: Consumers buy the product less frequently or
not at all.
Irregular Demand: Purchases vary on a seasonal, monthly, weekly
or even daily.
Full Demand: Customers buy in adequate amount products
available in market.
Overfull Demand: Many consumers would like to buy the product
that can be satisfied.
Unwholesome Demand: Consumers may be attracted towards
products having undesirable social consequences.

19. Thank You…!
That’s It For Today 