Concept, Need, and significance of Marketing, types of Marketing, Functions of Marketing

1. Marketing Management
Chapter
By:- Dr. Sarfaraz Karim

2. Marketing Management
 Marketing and Marketing Management
 Why is Marketing Important?
 Needs, Wants and Demands
 Different Types of Demands

3. Marketing
 Marketing is the delivery of customer satisfaction at a
profit
 Marketing is the social and managerial process whereby
individuals and group obtain what they need and want
through creating and exchanging products and values
with others
 It has two fold:- 1. Attract new customers by promising
superior value
2. Keep current customer by delivering
satisfaction

4. Marketing Management
 As per Kotler “ Creating, Communicating
and Delivering Customer value at the
profit”

5. Marketing Management
 The analysis, planning, implementation
and control of programs designed to
create, build, and maintain beneficial
exchange with target buyers for the
purpose of achieving organizational
objective

6. Needs , Wants and Demand
 Need is a state of felt deprivation. They include
basis physical needs like food, cloth, safety etc.
needs were not invented
 Needs become wants when they are directed to
specific objects that might satisfy the need
e.g. A consumer in the US needs food but may
wants hamburger or soft drink
Wants are shaped by our society

7. Demand
 Demands are wants for specific products
backed by an ability to pay and willingness
to pay.
e.g. Many people want a Mercedes, only a
few are willing and able to buy one.
Marketers don't create need,
Marketers along with other societal
factors influence wants.

8. Types Of Demand
1. Negative Demand A major part of
the market dislikes the product and
may even pay a price to avoid it—
vaccinations, dental work,
vasectomies, and gallbladder
operations, for instance. Employers
have a negative demand for ex-
convicts and alcoholics as
employees.

9. Cont…
2 No demand Target consumers may
be unaware of or uninterested in the
product. Farmers may not be interested
in a new farming method, and college
students may not be interested in
foreign-language courses. The marketing
task is to find ways to connect the
benefits of the product with people’s
natural needs and interests.

10. Cont…
3 Latent Demand Consumers shares a
strong want which can’t be satisfied by
existing one
4 Declining Demand buy less frequently
or not at all

11. Cont….
5. Irregular Demand Seasonal, Monthly, weekly
6. Full Demand Demand= Supply
7. Overfull Demand Demand> Supply
8. Unwholesome Demand Attracted to products
that have undesirable social consequenses

12. Why Study Marketing
Plays an important role in society
Vital to business survival, profits and
growth
Offers career opportunities

13. What is Marketed?
10 things
1. Goods
2. Services
3. Events ( Olympics &
world Cup)
4. Experiences
5. Persons
6. Places
7. Organisation
8. Information
9. Properties
10. Ideas

14. To Do work..
 Refer to previous slides and give two
examples in each categories……………..

15. Goods

16. Services

17. Experiences

18. Events

19. Properties

20. Organizations

21. information

22. ideas

23. PERSONS

24. PLACES

25. Marketing management philosophies
 The Production Concept
 The Product Concept
 The Selling Concept
 The Marketing Concept
 The Holistic Marketing Concept

26. The production Concept
 It tells that consumers will prefer products that
are widely available and inexpensive
 This orientation makes sense in developing
countries like China and India where population
are huge and labors are cheap
 Marketers concentrate on achieving high
production efficiency, low costs and mass
distribution.

27. The Product Concept
 This concept says that consumer favor
products that offer the most quality,
performance or innovative features
 Managers in these organizations focus on
making superior product and improving
them over time

28. The Selling Concept
 The idea of this concept is that consumers
will not buy enough unless the
organization undertakes a large scale
selling and promotion effort
 This concept is basically practiced with
unsought goods, goods that buyers
normally don’t think of buying such as
insurance and encyclopedia

29. The Marketing Concept
 Product only those goods which can sell
 Make product according to need and want
 Have eyes on the competitors
 The job is not to find the right customers for
your products, but to find the right products for
your customers

30. The Holistic Marketing Concept
 This concept based on the development, design,
and implementation of marketing program
 Holistic marketing recognizes that everything
matters in marketing and that a broad,
integrated prospective is often necessary
 Relationship marketing, Integral Marketing,
Internal Marketing and performance Marketing
are the characteristics of holistic marketing

31. Difference Between Marketing and
selling
Marketing
 Marketing is the process of
various concept in the form of
chain
 Marketing starts with the
buyers and focuses constantly
on the needs of the buyer
 Marketing involves pulling
strategies i.e. attracts the
customers through its various
marketing strategies
 Marketing seeks to convert
customer needs into product
Selling
 Selling is one of the concept in
the chain of marketing
 Selling starts with the sellers
i.e. pre occupied all the time
with the need of the seller
 Selling involves pushing
strategies i.e. pushing the
goods to the buyer
 Selling seeks to quickly convert
products into cash

32. Cont…
 Planning is long-run-
oriented in today’s
product and terms of
new products,
tomorrow’s markets
and future growth
 Consumer determine
price, price determine
cost
 Planning is short- run-
oriented in terms of
today’s products and
markets
 Cost determine price

33. To Do work..
MARKETING :- Science Or
Art
Justify Your Statements