The document defines marketing and outlines its key concepts. Marketing is defined as identifying and meeting human and social needs profitably through the flow of goods and services from producers to customers. The key aspects of marketing include the 4Ps of product, price, place and promotion as well as concepts like market segmentation, branding, and competition. The marketing concept emphasizes satisfying customer needs to achieve organizational goals.

2. ‡ Marketing ?
‡ Identifying and meeting human and social
needs.
‡ Meeting needs profitably.
‡ Flow of goods and services from
producers to customers.

3. ‡ The term was first academically defined in
1937 when the newly born American
Marketing Association (AMA) asserted:
± ³Marketing consists of those activities
involved in the flow of goods and services
from the point of production to the point of
consumption.[2]"

4. ‡ Adding to Kotler's and Norris' definitions,
the Chartered Institute of Marketing's
(CIM) definition claims marketing to be the
"...management process of anticipating,
identifying and satisfying customer
requirements profitably .

5. ‡ For a marketing plan to be successful, the
mix of the four "Ps" must reflect the
desires of the consumers in the target
market

6. Types of markets
‡ Consumer markets.
‡ Business markets.
‡ Global markets.
‡ Non-profit and governmental markets.

7. Marketing mix
product price promotion place

8. Core marketing concepts.
‡ Market segmentation.
‡ Market place.
‡ Market space.
‡ Meta market.

9. Seven p¶s

10. In addition to the traditional four p¶s
three more p¶s are added by Booms and
Britner.
people
process
physical evidence

11. Eighth p
‡ packaging

12. ‡ People:
all people that are directly or indirectly
involved in the consumption of a service.
e.g.: knowledge workers, employees
,management.
process :
procedures ,mechanisms and flow of
activities by which the flow of services is
consumed
physical evidence
the ability and environment in which service is
delivered.

13. ‡ Segmentation based on demographic,
physiographic and behavioral
differences among buyers.
‡ Market place is physical ± shopping in a
store.
‡ Market space is digital ± shopping on
the internet.
‡ Meta market ± is a cluster of
complementary goods and services.
e.g.: automobile ±insurance ,loan
,accessories, dealers.

14. ‡ Needs ,wants and demand.
‡ Brand image.
‡ Offering.
‡ Marketing channels.
‡ Competition.

15. ‡ Needs become wants when they are
directed to specific objects that satisfy the
need.
‡ Wants are shaped by the one¶s society.
‡ Demands are wants for specific products
backed by an ability to pay.
‡ E.g.: many people want mercedez .

16. ‡ Competition-
‡ Brand competition.
‡ Industry competition.
‡ Form competition.
‡ Generic competition.
‡ Offering ± combination of products,
services, information, experience.
‡ E.g. :offer from the Mercedes Benz

17. ‡ Brand competition :a company sees
its competitors as other companies that
offer similar products and services to
the same customers at similar prices.
‡ E.g.: wagon r from Maruti and santro
from Hyundai.
‡ Industry competition : a company
sees its competitors as all companies
that make the same product or class of
products.
‡ MARUTI AGAINST HYUNDAI

18. ‡ Form competition : a company sees its
competitors as all companies that
manufacture products that supply the
same service.

19. ‡ Generic competition:
a company sees its competitors as all
companies that compete for the same
consumer group.
e.g. :Volkswagen would see itself
competing with companies that sell major
consumer durables , foreign vocations,
new homes.

20. Stages in marketing .
Entrepreneurial marketing.
Formulated marketing.
Intrepreneurial marketing.

21. The scope of marketing.

22. ‡ The scope of marketing.
marketing people are involved in
marketing 10 types of entities.
goods.
services.
experiences.
events.
persons.
places.
properties.

23. Organizations.
Information.
Ideas.

24. ‡ Ideas.
Every market offering includes a basic
idea at its core.
e.g.: Charley Revson of Revlon: in the
factory we make cosmetics in the store we
sell hope.

25. Marketing management ?

26. ‡ Marketing management ?
‡ Is the process of planning and executing
the conception, pricing , promotion and
distribution of ideas , goods ,services , to
create exchanges that satisfy individual
and organizational goals.

27. Evolution of marketing.

28. The stage of barter.
The stage of money economy.
e.g. :pricing
The stage of industrial revolution.
The stage of competition .
The emergence of marketing .

29. Three stages in the evolution of
marketing.
Product ± orientation stage.
Sales ± orientation stage.
Market ± orientation stage.

30. Product orientation stage.
Focused on the quality, design and
quantity of the product.
sales orientation stage.
consumer had limited resources and
selling equipped more place through
advertisement efforts.

31. Market orientation stage.
In this stage companies identify what the
customers want and accordingly they will
shape their products.

32. Orientation of management
towards marketing.

33. The five distinct concepts of
marketing

34. ‡ The exchange concept.
‡ The production concept.
‡ The product concept.
‡ Marketing myopia.
‡ Sales concept.

35. ‡ The exchange concept.
product exchange buyer-seller.
distribution, pricing concepts lies .

36. ‡ The production concept..
focused on mass production and least
price.

37. ‡ The product concept.
improved products , new products
Focused on the quality, design and
quantity of the product

38. ‡ Marketing myopia.
excessive preoccupation with the product ,
production or selling , ignoring the
customer.

39. ‡ Sales concept..
as promotional methods are having more
importance ,advertising, personal selling,
discounts ,sales promotion , public
relations etc lies on this.

40. Selling and marketing

41. ‡ Selling revolves around the interests of
seller whereas marketing around the
buyer.
‡ Views as a goods producing process.
Whereas mktg views as a customer
satisfying process.
‡ Firm must make the product and figures
how to sell it whereas mktg shape its
products on the customers demand.

42. The marketing concept

43. ‡ The key to achieve the organizational
goals consists of the company being more
effective than its competitors in creating ,
delivering and communicating customer
value to its chosen target markets.

44. ‡ Meeting needs profitably.
‡ ³You¶re the boss´ (united airlines).
‡ ³putting people first ´ (British airways).
‡ ³Have it your way´ . (burger king )

45. The marketing concept
Target Integrated
Customer
market marketing
needs
Profits through
Customer
satisfaction

46. ‡ Integrated marketing.
when all the company¶s department work
together to serve the customer¶s interests
the result is integrated marketing.
e.g. :sales dept, advertising , customer
service , product mgmt, marketing
research.

47. Top
‡ Traditional management
organization chart
Middle
management
Front-line
people
customers

48. customers
‡ Modern customer ±
oriented organization
chart Front line people
Middle management
Top management

49. ‡ E.g. of companies practice marketing
concept..
‡ Mc Donald's, PG , Wal- Mart

50. Limitations of marketing
concept.

51. ‡ Proper attention is not there for employees
and suppliers.
‡ It gives priority to customer satisfaction
secondary how to compete , how to
perform marketing activities.

52. Value driven marketing

53. ‡ Value driven marketing is an orientation for
achieving objectives by developing superior
value to customers.
‡ An extension of marketing orientation that
attempts to overcome the problems of marketing
orientation refers to value driven marketing.
‡ Six principles lies for value driven marketing.

54. ‡ Customer principle.
‡ Competitor principle.
‡ Proactive principle.
‡ Cross-functional principle.
‡ Continuous improvement principle.
‡ Stakeholder principle

55. ‡ Customer principle: focus marketing
activities on creating and delivering
customer value. (direct indirect )
‡ Competitor principle: offers customers
superior value to competitive
alternatives. (icici bank ).
‡ Proactive principle : change
environments to improve the chances
for success when appropriate.

56. ‡ Cross-functional principle :.use cross
functional teams (bring people from
other business functions i.e. finance ,
rd ) when they improve efficiency and
effectiveness of marketing activities.
‡ Continuous improvement principle:
continuously improve marketing
planning , implementation and control.

57. ‡ Stakeholder principle :
Stakeholders are individuals and groups
who are influenced and can influence
marketing decisions.
e.g. : customers, employees, suppliers ,