This document provides an overview of marketing functions and concepts. It defines marketing as identifying and meeting customer needs profitably. The marketing function includes understanding customers, developing products to meet their needs, setting prices, promotion, and distribution. The marketing mix or "4Ps" of product, price, place, and promotion are explained. Integrated marketing and the marketing process of developing strategies, generating traffic, converting leads to sales, and measuring performance are also summarized. Tools and benefits of marketing include effective communication, brand visibility, and traffic generation.

1. BUSINESS STUDIES GRADE 11
UNIT 3
MARKETING FUNCTION

2. MARKETING FUNCTION
UNIT FOUR
25 MARCH 2014

3. Contents

Understanding marketing function

Features of marketing function

Characteristics of marketing function

Marketing process

Marketing-mix

Integrated marketing

Tools and benefits of marketing function

Marketing plans and strategies

4. WHAT IS MARKETING FUNCTION?

5. UNDERSTANDING MARKETING

MARKETING CAN BE DESCRIBED IN VARIOUS WAYS.

IT COULLD BE UNDERSTOOD NOT IN OLD SENSE OF MAKING A SALE„SELLING‟, BUT IN THE NEW SENSE OF SATISFYING CUSTOMERS.
(ANTHARJANAM:2012)

MARKETING FUNCTION REFERS TO THE SET OF PROCESSES FOR
MAKING, COMMUNICATING AND TO GIVE VALUE TO BUYERS AND FOR
MANAGING CUSTOMERS RALATIONSHIPS IN WAYS THAT BENEFIT
ORGANIZATION AND ITS STAKEHOLDERS.

IT BEGINS WITH DISCOVERING UNMET CUSTOMERS AND CONTINUES
WITH RESEACHING THE POTENTIAL MARKET.

6. CONTINUES…………

PRODUCING A GOOD OR SERVICE CAPABLE OF SATISFYING THE
TARGETED CUSTOMERS, AND PROMOTING, PRICING, AND DISTRIBUTING
THAT GOODS AND SERVICES.

MARKETING IS IDENTIFYING AND MEETING HUMAN AND SOCIAL NEEDS.
IN SHORT, MARKETING IS “MEETING NEEDS PROFITABLY.”(SHIVENDU
MISHRA: 2009).

IT THEN REFERS TO THE IDENTIFICATION, SELECTION AND
DEVELOPMENT OF A PRODUCT, THE DERTEMINATION OF THE PRICE,
CHANEL TO REACH CUSTOMERS PLACE AND THE DEVELOPMENT AND
THE IMPLEMENTATION OF PROMOTIONAL STRATEGY.

7. FEATURES OF MARKETING FUNCTION
1.
OPERATIONAL
10.
BUYING
2.
CUSTOMER ORIENTED
11.
DISTRIBUTING
OVERALL BUSINESS PHILOSOPHY 12. PRODUCT DEVELOPMENT AND
MANAGEMENT
4. LONG TERM SURVIVAL
13. RISK BEARING
5. MUTUAL BENEFITS
14. FINANCING
6. BUSINESS OBJECTIVE
15. AFTER SALE SERVICE
7. PRICING
16. STANDARDIZATION AND GRADING
8. PROMOTING
3.
9.
RESEACHING

8. CHARECTERISTICS………..

9. CHARECTERISTICS OF MARKETING FUNCTION




Setting and communicating the value of products
and services. E.g. price setting at right level
Designing, developing, maintaining, improving and
acquiring products and services that meet
consumer needs.
Determine the quality manners for consumers to
locate and use services and products of the entity.
They care for organization’s budgeting, provision
of financial assistance to customers

10. Continues……..

Obtaining, managing and using information
about what consumers want to improve entity
decision making activities, and determining
what will sell.

Clear communication with the buyers about
goods and services to achieve desire results.

Good communication with the customers
determine and satisfy their needs

11. MARKETING PROCESS

12. SIX STEPS OF MARKETING PROCESS
STEP 1…DEVELOP MARKETING STRATEGY
STEP 2…CREATE AND MAINTAIN POWERFUL WEBSITE
STEP 3…GENERATE MORE TRAFFIC
STEP 4…CONVERT TRAFFIC TO LEADS
STEP 5…CONVERT LEADS INTO SALES
STEP 6…MEASURE EVERYTHING

13. MARKETING MIX

14. ANALYZING MARKETING-MIX


15. THE 4 P‟S IN THE MARKETING-MIX
 The
marketing mix is the set of controllable
variables that the firm can use to influence
the customer‟s response
 The
marketing mix and 4 Ps of marketing
are used as synonyms for each other. In fact
they not necessarily the same things.

16. PRODUCT

Refers to the goods and services offered to
customers

Product can be subdivided into quality levels,
special features, styling, branding. Product range
or mix. Service back-up, warranty/ durability
packaging.

Combination of above used for product. E.g. low
quality product backed by a high service element.

17. PRICE

Price refers to the amount charged for the
offered product or services. The right product
should be offered at right place.

Price is a mechanism of exchange between firm
and customer. It incorporates credit terms,
discounts, margins, resources and financial
services.

18. PROMOTION

Promotion refers to advertising and selling part of
marketing i.e. informing potential customers of the
availability of the product, its price and place.

Promotion includes two broad areas of advertising and
personal selling.
Advertising – media/display/classified
Merchandizing – promotional support for the retailer
Personal selling – salesman is special discounts
Publicity – press and public relations





19. PLACE

Place refers to distribution channels used to get your
product to your customers.

Place make the product physically available. It includes
distribution channel, outlet, warehouse, factory location,
coverage stocks and freight.

The essence of managing the marketing mix lies in
providing each group of customers with the mix of
product, price, place and promotion which suits their
needs.

20. INTERGRATED MARKETING

Integrated marketing, the marketer‟s task is to devise marketing
activities and assemble marketing programs that maximize the
ability to create, communicate, and deliver the value of
customers.

McCarthy said the marketing mix tools in terms of four Ps. Such as
Product, Price, Place, and Promotion.

Marketing mix decisions must be made for influencing the trade
channels as well as the final customers.

Marketing mix is a set of controllable tactical and represents the
seller’s view of marketing tools like product, price, place, and
promotion that the firm blends to produce the response it wants
in the target market.

21. TOOLS AND BENEFITS OF MARKETING FUNCTION

22. BENEFITS AND TOOLS……….

EFFECTIVE LEARNING TOOL

EASY TO SHARE

BRAND VISIBILITY

ENHANCES TRAFFIC

VIRAL MARKETING TOOL

HIGHLY EFFECTIVE FO SEO

24. IMPORTANCE OF MARKETING

IT HELPS THE ORGANIZATION IN PLANNING

IT ESTABLISH BALANCE IN DEMAND AND SUPPLY

IT HELPS TO ESTABLISH A COMMUNICATION SYTEM BETWEEN THE PRODUCER
AND THE CONSUMER

IT ENSURING THE MAXIMUM PRODUCTION AT MINIMUM COST

MAKES GOODS AVAILABLE TO BUYERS AT COMPETITIVE PRICES

IMPROVE STANDARD OF LIVING

ECONOMIC DEVELOPMENT OF THE COUNRTY

25. MARKETING PLANS AND STRATEGIES

26. STRATEGY

27. FINALLY
 Marketing
is a social and managerial
process by which individuals and groups
obtain what they need and want through
creating and exchanging products and value
with others.

28. REFERENCES

1. Kotler Philip & Keller Kevin, Marketing Management, Pearson Education,
India

Kotler Philip, Keller Kevin, Koshy Abraham & Jha Mithileshwar Marketing
Management – A South Asian Perspective, Pearson Education

http://quizlet.com/545303/7-functions-of-marketing-flash-cards/

http://unbounce.com/online-marketing/inbound-marketing-process/

file:///C:/Users/General/Downloads/marketingmangment-140225045346phpapp02.pdf

http://www.slideshare.net/DevikaAntharjanam/abhinv-kumar?qid=40342f482566-4aa7-8b87-18f45b6e2937&v=default&b=&from_search=2