Marketing

1. MARKETING

2. WHAT IS MARKETING?
PRODUCT AND SERVICES
PRICE
PROMOTION
DISTRIBUTION

3. NATURE, SCOPE AND IMPORTANCE
• Marketing is managing profitability customer
relationship.
• Marketing deals with customers retain and grow
current customer by delivering satisfaction.
• Highly successful companies know that if they take
care of their customers, markets share and profit will
follow.
• Marketing is practised by large profits making
companies like Microsoft, IBM, Reliance, HUL, Godrej
etc…
• It is also used by Nonprofits organizations like
churches, hospitals, and charitable trusts like CRY,

4. DEFINITION OF MARKETING
“PHILIP KOTLER”- Marketing is defined as
a Social and managerial process by which
individuals groups obtain what they need
and want through creating and
exchanging products value and with
others.

5. CORE MARKETING CONCEPTS
•NEEDS, WANTS AND DEMANDS.
•MARKETING OFFERS (PRODUCTS, SERVICES AND
EXPERIENCES).
•VALUE OF SATISFACTION.
•EXCHANGES, TRANSACTIONS AND
RELATIONSHIPS.

6. NEEDS
• The of human needs is fundamental conCapt
underlying all marketing activities.
• Human needs are states of felt deprivation.
• They are biogenic in origin and include
physiological needs for food, clothing, warmth,
safety and shelter.

7. WANTS
• Wants are the forms human needs take as they are
shaped by culture and individuals personality
characteristics.
• Wants are shaped by the society in which one lives
and are described in terms of product that will
satisfy needs.
• The only other differences between needs and
wants is that while human needs are limited, wants
are unlimited.

8. DEMAND
• Human wants are backed by purchasing
power and willingness to buy becomes
demand.
• Purchasing power is providing by the boys
father, who also has the willingness to buy
the bike, which his son wants.
• Consumers ask for or demand products
which they feel will give them maximum
value and satisfaction.

9. CUSTOMER VALUE
• Consumers have a wide choice of products and services
which promise satisfaction of a particular need.
• They normally form expectations about the value of
different marketing offers and buy accordingly.
• This involves the customers mental process of judging the
value of the product.

10. MARKETING AS A FUNCTION
• Marketing means managing market to bring about
profitable exchange relationship by creating
values and satisfaction needs and wants.
• The supplier provides raw materials to produce
goods.
• The customer compare the value and satisfaction
offered in each product or services and decides to
buy.
• A company success in marketing as a function
depends on how well entire system serves the

11. MARKETING MANAGEMENT
According to Philip kotler, “Marketing management is the art
and science of choosing targets markets and building
profitable relationships with them. This involves getting,
keeping and growing customers through creating, delivering
and communicating superior value”.
• Any company will have a desired level of demand
for its product.
• The marketing managers have to identify ways
and means to handle different demand
situations.
• Reducing the demand is done through
remarketing.
• Remarketing is resorted to by a company or a
government when facedWith a very high demand.

12. MARKETING ORIENTATIONS OR CONCEPTS:
• The Production concept.
• The product concept.
• The Selling concept.
• The marketing concept.
• The customer concept.
• The social marketing concept.

13. THE PRODUCTION CONCEPT
• The production concept is the most operations-oriented than any of the
other marketing concepts on this list.
• It speaks to the human truth that we prefer products that are easily
available and inexpensive.
• This concept was founded during the production era of early Capitalism
in the mid-1950s.
• During that era, businesses concerned themselves primarily with
production, manufacturing, and efficiency issues.
• This is also the time when the “Says Law” was created exciting the idea
of supply and demand.

14. THE PRODUCT CONCEPT
• The product concept is not so much about the production and
business output but focuses more on the customer.
• Potential customers favor products that offer quality,
performance, or innovative features.
• This marketing concept believes in potential customers and
how their brand loyalty is closely tied to options of products,
the quality of those products and the benefits they get from the
product and the business they invest in.

15. THE SELLING PRODUCT
• The selling concept holds the idea- “consumers will not buy enough of the firm’s products
unless it undertakes a large-scale selling and promotion effort.”
• Here the management focuses on creating sales transactions rather than on building long-term,
profitable customer relationships.
• In other words, the aim is to sell what the company makes rather than making what the market
wants.
• Such an aggressive selling program carries very high risks.
• In selling concept, the marketer assumes that customers will be coaxed into buying the product will
like it; if they don’t like it, they will possibly forget their disappointment and buy it again later.
• This is usually a very poor and costly assumption.

16. THE MARKETING CONCEPT
• The marketing concept holds- “achieving organizational goals depends on knowing the
needs and wants of target markets and delivering the desired satisfactions better than
competitors do.”
• Here marketing management takes a “customer first” approach. Under the marketing concept,
customer focus and value are the routes to achieve sales and profits.
• The marketing concept is a customer-centered “sense and responds” philosophy. The job is not to
find the right customers for your product but to find your customers’ right products.
• The marketing concept and the selling concepts are two extreme concepts and different from each
other.

17. THE CONSUMER CONCEPT
• Focusing on a particular market does not guarantee a company’s success in the marketplace. What
is needed for success is customer orientation, i.e., carefully defining customer needs from
customers’ points of view. A company can do this with market research, and hence, the role of
market research plays a dominant role in marketing concept-oriented companies.
• Customer orientation is important in the sense that a company’s future and progress depend on the
customers. Customers can be new and old. A company must retain its old customers since
attracting new customers is very difficult and costly.
• A satisfied customer will buy again and again, and he/she will speak high about the company, which
will increase the company’s image and help attract new customers.
• Therefore, it is very important for a company to be customer-oriented, i.e., to identify their needs
and wants and reasonably satisfy those.
• To ensure customer satisfaction, a company should encourage customer complaints, since it is
seen from different studies that 96% of unhappy customers never tell the company about their
dissatisfaction.

18. THE SOCIAL MARKETING CONCEPT
• The marketing concept is a total enterprise concept.
• To be successful, all marketing functions must be coordinated among themselves, and second,
marketing itself must be well-coordinated with other departments.
• A company managed under the marketing concept must plan, organize, coordinate, and control its
entire operation as one system directed toward achieving a single set of objectives applicable to the
total organization.
• There are obvious reasons behind coordinating marketing functions among themselves, and the
main reason is to eliminate conflict. For example, if marketing functions are not coordinated among
themselves, the salesforce might heavily criticize marketing people for setting a very high sales
target.
• The reason behind coordination with other departments is that marketing cannot work in isolation. If
employees of other departments do not recognize how they impact customer satisfaction, the
marketing department cannot alone provide it.
• To be marketing oriented, a company is to carry out both internal and external marketing.

19. BENEFITS OF MARKETING
• You may have noticed that moving at the speed of business sometimes takes all you've got.
• Perhaps nowhere is the need for agility more evident than in the marketing department, where there always seems to be some new
theory, strategy or tactic vying for your consideration.
• Such may be the case with internal marketing – a relatively new strategy that appears to be a natural outgrowth of relationship
marketing.
• As a realist, you may assert that your marketing team is busy enough with your current and new customers.
• Still, as a visionary, you may see the value in ensuring that your employees become your best ambassadors.
• Like many of the ideas percolating in your marketing department, it's worth slowing down long enough to take a measure of internal
marketing, the tactics you can employ starting tomorrow, and the benefits you could begin to derive the day after that.

20. PURPOSE OF MARKETING
• Dictionary.com defines marketing as, "the action or business of promoting and selling products or
services, including market research and advertising."
• If you work in a marketing role like I do, it's probably difficult for you to define marketing even though
you see and use it every day -- the term marketing is a bit all-encompassing and variable for a
straightforward definition.
• This definition feels unhelpful.
• The selling part, for instance, overlaps a little too snuggly with a "what is sales" definition, and the
word advertising makes me think of Mad Men brainstorming sessions.
• But upon digging deeper, I began seeing that actually, marketing does overlap heavily with advertising
and sales. Marketing is present in all stages of the business, beginning to end.
• At first, I wondered why marketing was a necessary component during product development, or a
sales pitch, or retail distribution.