1. Principles of Marketing

2. Today’s Topics
 Introduction-An overview of
marketing
 Road map

3. Introduction of
Marketing

4. Music to a
Marketer’s Ears
“They’re the best.”
“I always eat there.”
“I only fly with that airline.”
“I buy my electronics at that store.”
“I will prefer to go in that school.”

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6. Marketing: Definition
The process of creating
consumer value in the form of
goods, services, or ideas that
can improve the consumer’s
life.

7. What is marketing ?
More than selling and advertising

Identifying and satisfying customers

needs
Range of activities (marketing mix –

4P’s)

8. What is Marketing?
Learning to make what you can
sell vs. selling what you can
make.
Identifying and satisfying
customer needs and wants.

9. Peter Drucker
 Goal of all organizations is to
gain and retain customers
 Innovation and marketing are the only two ways to
achieve the goal
 “The rest only adds cost”

10. The AMA managerial definition:
 “Marketing is the process of planning and
executing the conception, pricing, promotion, and
distribution of ideas, goods, and services to create
exchanges that satisfy individual and organizational
objectives.”

11. Marketing Involves having the Right
Product available in the Right Place at
the Right Time and making sure that
the customer is Aware of the
Product .

12. Marketing

13. Product Price
Macro Economic
Conditions
Placement Promotion

14. Simple Marketing System
Communication
Product/Service
Producer/Seller Consumer
Money
Feedback

15. Marketing’s 4 P’s
 Product
 Price
 Placement
 Promotion

16. Evolution of Marketing
 Product Orientation:
Product
Price
 Sales Orientation:
Placement
Promotion
 Marketing Orientation
4 P’s of Marketing
Macro Economic Condition

17. Marketing: Comprehensive
Defination
“Marketing is a continuous process of
assessment of needs & requirements of
customers, translating these requirements into a
product, deciding a reasonable price, placing in
the right market to the right customers, promoting
as this is the best choice amongst all, offering at
a right time of minimum political, legal &
economic crises for the value creation &
satisfaction of customers.”

18. Marketing Focus
 States that the public, the customer, and the client
determine the marketing program.
 Emphasizes creating and maintaining relationships with
customers.
 Finally applies for both non-profit organizations and profit-
oriented businesses.

19. Marketing Includes...
Personal selling
Advertising
Making products available in stores
Maintaining inventories etc

20. What Can Be Marketed?
Goods Places
Services Properties
Experiences Organizations
Events Information
Persons Ideas

21. How Does an
Organization Create a
Customer?

22.  Identifying customer needs
 Designing goods and services that meet
those needs
 Communicating information about those
goods and services to prospective buyers

23. Cont…
 Making the goods or services available at
times and places that meet customers’
needs
 Pricing goods and services to reflect costs,
competition, and customers’ ability to buy
 Providing for the necessary service and
follow-up to ensure customer satisfaction
after the purchase

24. How is Marketing
Done?

25. Marketers Develop and Implement
a Marketing Plan Based on the
Following Information:
Organization’s Strengths
Organization’s Strengths
and Weaknesses
and Weaknesses
Opportunities and Threats to the
Opportunities and Threats to the
Organization in the Marketplace
Organization in the Marketplace
Organization’s Overall Objectives
Organization’s Overall Objectives

26. Peter F. Drucker Said:
If we want to know what a business is, we have to
start with its purpose. And its purpose must lie
outside the business itself. In fact, it must lie in
society since a business enterprise is an organ of
society. There is one valid definition of business
purpose:
To create a customer.

27. Reasons for Studying
Marketing

28. Costs Careers
About 50% of total About 33 to 45% of
product costs are the work force hold
marketing costs. marketing positions.
Why Study
Marketing ?
Contributions to Society
Contributions to
Marketing decisions affect
Individual Organizations
the lives of individual
Critical to the success
consumers and society as
of a firm.
a whole.

29. Why Study Marketing?
Plays an important role in

society
Vital to business
Offers outstanding career

opportunities
Affects your life every day

30. Marketing is
Everywhere in Your
Life

31. What do Marketers
Think About?

32. Ex: Open a Book shop in Campus
 Is there a need?
 Who is my target market?
 What is my product?
 How can I produce and deliver a “product” better than
my competitors?
 How will I promote my product?
 How can I insure customer loyalty?

33. Marketing is....
Getting the right
products to the right
people at the right price
and at the right place
with the right promotion
& in the right time.

34. Marketing is a social and
managerial process by which
individuals and groups obtain what
they need and want through
creating, offering and exchanging
products of value with others.
Kotler 1994

35. More simply:
Marketing is the delivery of
customer satisfaction at a profit.

36. Simple Questions, Hard
Answers
•Who are our customers?
•What important & unique
benefits do we provide?
•Are these benefits sustainable?

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38. Recommended Books
 Fundamentals of Marketing by Stanton, Etzel
and Walker
 Principles of Marketing by Philip Kotler and
Gary Armstrong
 Marketing by Joel R. Evans and Barry
Berman

39. Conclusion