All About Marketing Nature and Importance Marketing Mix Marketing Segmentation

1. Marketing
A Nazima

2. Meaning and Definition
Meaning
Marketing refers to the activities of a business related to buying
and selling a product or service. It involves finding out what
consumers want and determining whether it is possible to
produce it at the right price. The company then makes and sells
it.
Definition
American Marketing Association’s defines Marketing as
“Marketing is the activity, set of institutions, and processes for
creating, communicating, delivering, and exchanging offerings
that have value for customers, clients, partners, and society at
large.”
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Objectives
Understand companywide strategic planning and
its four steps.
Learn how to design business portfolios and
develop strategies for growth and downsizing.
Understand marketing’s role in strategic planning
and how marketers partner with others.
Be able to describe the marketing process and
the forces that influence it.
Understand the marketing management
functions, including the elements of the
marketing plan.

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Strategic Planning
Strategic planning is defined as:
 “The process of developing and
maintaining a strategic fit between
the organization’s goals and
capabilities and its
changing marketing
opportunities.”

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Figure 2-1:
Steps in the
Strategic Planning Process

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Mission statements should . . .
 serve as a guide for what the
organization wants to accomplish.
 be “market-oriented” rather than
“product-oriented”.
 be neither too narrow, nor too broad.
 fit with the market environment.
 be motivating.
Strategic Planning

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Strategic Planning
Mission statements guide the
development of objectives and
goals.
 Objectives are developed at each
level in the organization hierarchy.
 Strategies are developed to
accomplish these objectives.

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Figure 2-3:
Product / Market
Expansion Grid

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Marketing plays a key role in
the strategic planning process.

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The Marketing Process

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The Marketing Process
The strategic planning
and business portfolio
analysis processes
help to identify and
evaluate marketing
opportunities.
The purpose of the
marketing process is
to help the firm plan
how to capitalize on
these opportunities.
Key Elements
Analyzing marketing
opportunities
Selecting target
markets
Developing the
marketing mix
Managing the
marketing effort

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The Marketing Process
Analyzing marketing
opportunities
Selecting target
markets
Developing the
marketing mix
Managing the
marketing effort
Key Elements
The segmentation
process divides the
total market into
market segments.
Target marketing
chooses which
segment(s) are
pursued.
Market positioning
for the product is
then determined.

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Figure 2-5:
The Marketing Mix

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The Marketing Mix
Visit the Hill’s Pet
Nutrition site.
How are the 4 C’s or
the 4 P’s presented
within the site?
Hill’s Pet
Nutrition

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The Marketing Process
Marketing analysis
 Provides information
helpful in planning,
implementation, and
control
Marketing planning
 Strategies and tactics
Marketing
implementation
 Turns plans into action
Marketing control
 Operating control
 Strategic control
Analyzing marketing
opportunities
Selecting target
markets
Developing the
marketing mix
Managing the
marketing effort
Key Elements

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