This presentation has been uploaded by Public Relations Cell, IIM Rohtak to help the B-school aspirants crack their interview by gaining basic knowledge on Marketing.

1. BASIC CONCEPTS OF
MARKETING
IIMR O H TA K
A WEBINAR FOR PREPARATION OF
WAT-PI PROCESS ADMISSIONS 2016
PRERITJAIN

2. WHAT IS MARKETING AND MARKETING MANAGEMENT?
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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Marketing is the management process responsible for
identifying, anticipating and satisfying customer requirements
profitably.
Marketing Management is the art and science of choosing target
markets and building profitable relationships with them.
• Requires that consumers and the marketplace be fully
understood.
• Aim is to find, attract, keep and grow customers by creating,
delivering, and communicating superior value.

3. EVOLUTION OF MARKETING
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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4. NEEDS,WANTS AND DEMANDS
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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Need: State of felt deprivation including physical, social, and
individual needs.
• Physical needs: Food, clothing, shelter, safety
• Social needs: Belonging, affection
• Individual needs: Learning, knowledge, self-expression
Want: Form that a human need takes, as shaped by culture and
individual personality.
Wants + Buying Power = Demand

5. WHAT ALL IS MARKETED?
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
GOODS
AND
SERVICES
5
EVENTS &
EXPERIENCES
PERSONS
AND
PLACES
PROPERTIES
ORGANISATIONS
INFORMATION
AND IDEAS

6. DIFFERENCE BETWEEN SALES AND MARKETING
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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7. DIFFERENCE BETWEEN SALES AND MARKETING
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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8. GOALS OF MARKETING SYSTEMS
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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9. MARKETING STRATEGY PLANNING PROCESS
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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• Starts with gauging
the external
environment and an
assessment of the
company’s
capabilities.
• Followed by selecting
the appropriate
target market and
molding the offering
to extract maximum
benefit.

10. 7 Ps OF MARKETING
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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• Also known as Marketing Mix.
• 7Ps define how the company
places its offering in the market.
• 4Ps for product: Product, Price,
Place and Promotion.
• Example: Coca-Cola
• 7Ps for services: People, Processes
and Physical Evidence are added to
cater to the specific needs of
services.
• Example: Hotels (hospitality)

11. PRODUCT
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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The set of attributes or
characteristics that buyers
normally expect. Eg. A clean
bed, fresh towels, working
lamps, relative quietness etc.
The product containing only
characteristics absolutely
necessary for it to function. Eg.
Basic room with a bed,
bathroom, towels, closet etc.
The fundamental need or want
that the consumers satisfy by
consuming the product. Eg.
Hotel guest buying rest & sleep.
Additional features that serve
to differentiate the product
from its competitors. Eg.
Premium customer service,
valet parking, specialty dishes.
All the augmentations and
transformations that a product
might undergo in the future.

12. PRICING STRATEGIES
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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13. PLACE
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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• Dell laptops
• Most branded
outlets
• Most FMCG
companies

14. PROMOTION
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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A promotional mix specifies how much attention to pay to each of
the elements and how much money to budget for each.
A promotional plan can have one or more of the following
objectives:
• sales increases
• new product acceptance
• creation of brand equity
• Positioning etc.

15. ELEMENTS OF PROMOTION MIX
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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Personal presentations by a firm’s
sales force. Mostly B2C.
Building good relations with public
by obtaining favourable unpaid
publicity.
Promotional activities or events to
spread awareness and gather
customer attention.
Addressing the customer while taking
into account his/her unique choices.
Eg. YouTube recommendations
Short term incentives to encourage
sales. Eg. Discounts etc.
Any paid form of a non personal
presentation by an identified sponsor
Direct communication with the
individual to obtain an immediate
response. Mostly B2B.

16. STP (SEGMENTATION,TARGETING AND POSITIONING)
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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The process of dividing a
market into distinct groups of
buyers with different needs,
characteristics, or behavior who
might require separate products
of marketing programs.
Involves evaluating each market
segment’s attractiveness and
selecting one or more segments
to enter based on which looks
more sustainable and accessible.
Arranging for a product to
occupy a clear, distinctive,
and desirable place relative
to competing products in the
minds of target consumers.

17. PRODUCT LIFE CYCLE (PLC)
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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The PLC is a model that
illustrates the different
stages (six in total) that a
product or service will
pass through. Each stage
has its own attributes and
will vary in length (time)
with different products
and services. The time
that it takes for your
product/service to move
through the PLC will
largely be determined by
how effective your
marketing plan is.

18. STAGES OF PRODUCT LIFE CYCLE
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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Stage 1: Development - As soon as you put pen to paper, this is
where the PLC of the product/service begins. This is the time
where you will design and develop your product/service with all
the direct costs that may be incurred such as wages, materials for
prototypes, research, etc.
Stage 2: Introduction - This is the time when the product/service
is new in the market and a high degree of marketing will be
needed such as promotions and advertising to increase
commercial awareness.

19. STAGES OF PRODUCT LIFE CYCLE CONTD.
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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Stage 3: Growth - Once your product/service has become established in the market,
you can expect the number of sales to increase rapidly and marketing expenditure
may now be used for brand building. This is the stage where you will benefit from
high profits but this is also the stage where your profits will peak.
Stage 4: Maturity - The stage of maturity begins when the product/service sales
peak and become stable mainly due to the introduction of competitors during the
end of the growth stage (influencing the move into the maturity stage).
Stage 5: Decline - The product/service moves into the decline stage when sales
start to drop continuously and will be a result of the issues that moved the product
through maturity and saturation

20. BRAND AND BRAND-EQUITY
BASIC CONCEPTS OF MARKETING – WEBINAR BY IIM ROHTAK
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Brand
• Any name, sign, symbol,
design to identify goods or
services and differentiate
from competitors
• CCD, McDonalds
Brand Equity
• It is the value of your brand
• Reflected in the prices,
market share and profitability
the brand commands
• Key indicator: Brand loyalty

21. QUESTIONS?
IIMR O H TA K