Introduction to Marketing

1. Introduction to Marketing
DIP 018- MARKETING THEORY & PRACTICE
ANC EDUCATION | KANDY CAMPUS
Anuradha Chandrawansha
BBA (Bus. Adm.) (R) MBA (University of Peradeniya),
AIMSL
Lecture 1

2. Lesson Outcomes
 Understanding Marketing as a concept and define the
Marketing as a terminology
 Understand the importance of the marketing for todays
business environment
 Identify the key evolutionary stages of marketing as a
discipline known as market orientations
 Evaluate marketing as an integral element for a business
organization
 Identify the elements of marketing mix & to appreciate
the application of such elements in real world market
practice
 Identify the upcoming trends of marketing

3. What is Marketing
 Is it merely a selling a product / service to the customer
 Is it all about advertising / introducing a product to the
customer
 Does it add any value to the customer other than selling
a product
 Do marketers are same as sellers

4. Marketing is simply a management process,
Identification
of consumer requirement/s
anticipate
consumer needs
Satisfy
consumer needs
Efficient
Effective
Profitable
+
Social
Responsible

5. Marketing Defined
Marketing is a management process of identifying,
anticipating, satisfy the consumer needs
efficiently, effectively & profitably in a social
responsible manner
Chartered Institute of Marketing -UK

6. Relationship marketing
 Not merely a process of value exchanging
 Long-term business synergies among the parties
Possible Market Conditions
 B2B Market – Business to Business (E.g. Wholesaler & Retailer )
 B2C Market – Business to Consumer (E.g. Retailer & End consumer )
 B2G Market – Business to Government (E.g. Wholesaler & Government)

7. Evolution of Marketing Thought
 Marketing has came across different eras
 Five concepts known as business orientations
I. Production Orientation
II. Product Orientation
III. Selling Orientation
IV. Marketing Orientation
V. Social Marketing Orientation

8. Business Orientations
Production Concept
 Low cost
 Mass production ( Same product)
 High availability & Distribution
 Profits generation through high volumes
 Produce the product based on the choice of producer
 Neglect the preference of the consumer
Weakness

9. Product Concept
 Low Volume
 Quality improvements
 Limited by nature (Comparing to the
production orientation)
 May be selling at a premium price
 Quality is all that matters
 Less concern on availibility
Weakness

10. Selling Concept
 Selling through promotions (Encourages buyers to
purchase)
 Merely an effort of producing & selling despite identifying
& understanding the actual need/ demand from the
market

11. Marketing Concept
 Addresses on the consumer requirement
 Improved efficient solution
 In some instances with tailor made features
 Encourage the consumers to buy through
delivering the actual requirement / demand
from the market

12. Social Marketing Concept
 Concentrates on Consumer needs & Social values
 Consider the effect of the business activities over the
stakeholders

13. Marketing Mix
 What do you mean by the term Marketing Mix
 What is/ are use of marketing mix element/s
 Is there a common marketing mix for both goods & services
 What are the elements which are differ in applying the marketing
mix to the service oriented business organization
 What is the applicability of marketing mix elements to the real world
business operations

14. Marketing Mix Defined
 Marketing mix
is a set of tools which an organization uses to
pursue its potential markets.
Source: Principles of Marketing; Brassington F, Pettitt S., 2006

15. Marketing Mix – 4 Ps

16. Extended Marketing Mix – 7Ps
 Addition of 03 elements,
 People
 Process
 Physical Evidence

17. Service Ventures
ProcessPeople
Physical Evidence

18. Marketing Mix
 Integrated marketing mix / Conventional ideology of marketing mix
contain 4 elements known as 4Ps.
 Extended marketing mix is known as 7Ps which include another 3
elements known as People, Process & Physical Evidence. ( Service
marketing mix)
 Modern era has further extended the marketing mix as 8Ps by
adding the element of Productivity

19. Summary
 Marketing is the management process responsible
for identifying, anticipating and satisfying customer requirements
profitably
 Business orientations – Production, Product, Sales, Marketing &
Social Marketing
 Marketing Mix is a set of tools that a marketer is using to cater to its
potential consumers
 Marketing mix contains seven elements known as extended
marketing mix ( 7Ps)

20. Thank you