1. UNIT –IUNIT –I
Introduction to Marketing Mgt.Introduction to Marketing Mgt.
Sandeep VatsSandeep Vats

2. ContentsContents
Definition and Concepts of MarketingDefinition and Concepts of Marketing
--Need, Want, Demand, Exchange & TransactionsNeed, Want, Demand, Exchange & Transactions
-Defining Marketing for 21st century-Defining Marketing for 21st century
- Scope of Marketing- Scope of Marketing
-Core Marketing Concepts-Core Marketing Concepts
-Holistic Marketing Concept-Holistic Marketing Concept
-Different Types of Markets-Different Types of Markets

3. Definitions of MarketingDefinitions of Marketing
‘‘Marketing is the management process thatMarketing is the management process that
identifies, anticipates and satisfies customeridentifies, anticipates and satisfies customer
requirements profitably’requirements profitably’

4. ‘‘The right product, in theThe right product, in the
right place, at the right time,right place, at the right time,
and at the right price’and at the right price’
Adcock et alAdcock et al

5. ‘‘Marketing is the human activityMarketing is the human activity
directed at satisfying humandirected at satisfying human
needs and wants through anneeds and wants through an
exchange process’exchange process’
Kotler 1980Kotler 1980

6. ‘‘Marketing is a social andMarketing is a social and
managerial process by whichmanagerial process by which
individuals and groups obtainindividuals and groups obtain
what they want and needwhat they want and need
through creating, offering andthrough creating, offering and
exchanging products of valueexchanging products of value
with others’with others’
Kotler 1991Kotler 1991

7. What is Marketing?What is Marketing?
Marketing is an organizational function
and a set of processes for creating,
communicating, and delivering value
to customers and for managing
customer relationships
in ways that benefit the
organization and its stakeholders.
Kotler & Keller 2006

8. What is Marketing Management?What is Marketing Management?
Marketing management is the
art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.

9. Scope of MarketingScope of Marketing
 GoodsGoods
Ex.-Food Products,CarsEx.-Food Products,Cars
 ServicesServices
Ex.-Work of Airlines,HotelsEx.-Work of Airlines,Hotels
 EventsEvents
Ex.-Olympics, World CupEx.-Olympics, World Cup
 ExperiencesExperiences
Ex.-Walt Disney KingdomEx.-Walt Disney Kingdom
 Persons (Celebrity)Persons (Celebrity)
Ex.-Amitabh, DhoniEx.-Amitabh, Dhoni
 PlacesPlaces
Ex.-Cities,StatesEx.-Cities,States
 PropertiesProperties
Ex.-Real estateEx.-Real estate
 Organizations (Philips)Organizations (Philips)
Ex.-Let’s Make things betterEx.-Let’s Make things better
 InformationInformation
Ex.-Universities,EncyclopediasEx.-Universities,Encyclopedias
 Ideas (Revlon)Ideas (Revlon)
In the factory, we make cosmetics,In the factory, we make cosmetics,
In the store we sell hope.In the store we sell hope.

10. Production ConceptProduction Concept
Product ConceptProduct Concept
Selling ConceptSelling Concept
Marketing ConceptMarketing Concept
Consumers prefer products that are
widely available and inexpensive
Consumers favor products that
offer the most quality, performance,
or innovative features
Consumers will buy products only if
the company aggressively
promotes/sells these products
Focuses on needs/ wants of target
markets & delivering value
better than competitors
Company Orientations TowardsCompany Orientations Towards
the Marketplacethe Marketplace

11. When Did Marketing Begin?When Did Marketing Begin?
Product OrientationProduct Orientation
Selling OrientationSelling Orientation
Customer OrientationCustomer Orientation
•Most Efficient Production &
Distribution
•Seller’s Market
•Satisfies Customers’ Needs
and Wants
•Total Quality
New Era OrientationNew Era Orientation •Benefits to Customers, Plus
Firm’s Employees,
Shareholders, and Communities.
•Marketing as a Sales Function
•Buyer’s Market

12. Market
Integrated
marketing
Profits through
customer
satisfaction
Customer
needs
(b) The marketing concept
Factory
Existing
products
Selling and
promotion
Profits through
sales volume
Starting
point Focus Means Ends
(a) The selling concept
Customer Delivered ValueCustomer Delivered Value

13. The Four Ps: The ToolsThe Four Ps: The Tools
Marketing
Mix
Product
Price Promotion
Place

14. Evolving Views of Marketing’s RoleEvolving Views of Marketing’s Role
a. Marketing as an
equal function
FinanceProduction
Marketing Human
resources
b. Marketing as a more
important function
Finance
Human
resources
Marketing
Production

15. Evolving Views of Marketing’s RoleEvolving Views of Marketing’s Role
c. Marketing as the
major function
Marketing
Finance
Human
Resources
Production
d. The customer as the
controlling factor
Customer
H
um
an
R
esources
Finance
Production
M
arketing

16. Evolving Views of Marketing’s RoleEvolving Views of Marketing’s Role
e. The customer as the controlling
function and marketing as the
integrative function
Customer
Marketing
Production
Human
Resources
Finance

17. Marketing for 21Marketing for 21stst
CenturyCentury
Two Challenges Facing Indian Companies :Two Challenges Facing Indian Companies :
• Will Indian companies be able to defend theirWill Indian companies be able to defend their
market against the growing invasion of foreignmarket against the growing invasion of foreign
global brands?global brands?
• Can Indian companies develop strong globalCan Indian companies develop strong global
brands?brands?

18. Can Indian CompaniesCan Indian Companies
Defend the Domestic Market?Defend the Domestic Market?
 Foreign competitors will not only go after theForeign competitors will not only go after the
high end market in India. They will target thehigh end market in India. They will target the
middle and eventually the low end.middle and eventually the low end.
 The main defense for India will be developingThe main defense for India will be developing
stronger skills in innovation, differentiation,stronger skills in innovation, differentiation,
branding, and service.branding, and service.

19. But India NeedsBut India Needs
Stronger MarketingStronger Marketing
 Sometimes ads appear before the product is in distribution.Sometimes ads appear before the product is in distribution.
 Some companies over-spend on advertising.Some companies over-spend on advertising.
 Little use of marketing research.Little use of marketing research.
 Therefore little segmentation of market and poor targeting.Therefore little segmentation of market and poor targeting.
 Over focus on winning through low price; neglectingOver focus on winning through low price; neglecting
differentiation.differentiation.
 Retailers carry the same goods and their service is poor.Retailers carry the same goods and their service is poor.

20. Five C’s Favoring IndiaFive C’s Favoring India
 Capital: India has and can attract capital.Capital: India has and can attract capital.
 Cost: Another 50 years of low cost productionCost: Another 50 years of low cost production
 Capability: Large number of trained workers,Capability: Large number of trained workers,
engineers, scientists, and business peopleengineers, scientists, and business people
 Consumers: Immense domestic marketConsumers: Immense domestic market
 Calm and stability: in a world of turmoil andCalm and stability: in a world of turmoil and
uncertaintyuncertainty