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Marketing management module 1 introduction of marketing
Introduction to Marketing
Introduction – Definition – Scope of marketing
– Concepts of Need, Want and Demand-
demands situations – Marketing philosophies
and their evolution – Types of products -
Difference between goods & services - key
customer markets – Market Environment –
Porter’s 5 Forces – PEST Marketing
concepts – Introduction to Segmenting, target
market, positioning – marketing mix (4 Ps & 7
Ps)– tasks of Marketing Managers. Marketing
What is marketed?
• Resource Markets
• Manufacturer markets
• Intermediatery markets
• Government markets
• Consumer markets
• Market place and market space
Definition of Marketing
• Marketing is organizational function and
process for creating communicating and
delivering value to customers and for
managing customer relationship in a way
that benefit organization and its
• IKEA Furniture, eBay.
Core Marketing concepts
• Needs and wants
– Stated needs
– Real needs
– Unstated needs
– Delight needs
– Secret needs
• Target markets, positioning and segmentation
• Offerings and Brands
• Value and satisfaction
• Marketing channels
• Supply chain
• Marketing environment.
Scope of Marketing
Marketing people are involved in marketing 10
types of entities:
Company Philosophies and Evolution
• The production concept
• The product concept
• The selling concept
• The marketing concept
• Relationship marketing
Types of Products
A product used to manufacture other goods or services, to
facilitate an organization’s operations, or to resell to other
Product bought to satisfy an
individual’s personal wants
Difference between Goods & Services
1. Goods are tangible while services are intangible.
2. Customers participate in many service processes,
activities, and transactions.
3. The demand for services is more difficult to
predict than the demand for goods.
4. Services cannot be stored as physical inventory.
5. Service management skills are paramount to a
successful service encounter.
6. Service facilities typically need to be in close
proximity to the customer.
• Economic conditions
– Inflation & Interest rates
• Social and cultural forces
• Political and legal forces
Porter’s 5 Forces
• Rivalry among existing players
• Threat of new entrants
• Threat of substitutes
• Bargaining power of buyers
• Bargaining power of suppliers
Introduction to Segmentation
• Variation in consumer response
• Marketing mix
• Dividing total market
• Similar or homogeneous market
• Diffused market.
Targetting and Positioning
• Selection of segment
• Market aggregation strategy
• Single-segment concentration
• Multiple-segment concentration
• Products or brands image
• Distinction from competition
Marketing Mix (4 Ps & 7 Ps)
• Physical evidence
Tasks of Marketing Managers
• Eight different marketing tasks can be
distinguished each arising out of a unique
state of demand.
• Depending upon whether demand is
negative, non existent, latent, irregular,
faltering, full, overfull, or unwholesome,
the marketer finds himself facing a unique
challenge to his craft and his concepts.
Short sighted and inward looking approach
to marketing that focuses on the needs of
the firm instead of defining the firm and its
products in terms of the customers' needs