Más contenido relacionado




Basic introduction to marketing 26 07-2016

  1. Basic Introduction to Marketing
  2. Contents  Meaning and Definition of Marketing  Nature of Marketing  Importance of Marketing  Marketing Orientations  Marketing vs. Selling  Scope of Marketing  Core Concepts of Marketing
  3. What is Marketing?  Marketing deals with identifying human and social needs and meeting those needs profitably.  “Marketing is defined as a social and managerial process by which individuals and group obtain what they need and want through creating and exchanging products and services of value with others.” – Philip Kotler
  4. Definition of Marketing by AMA “ Marketing is an organizational function and a set of processes for creating, communicating, and delivering values to customers and for managing customer relationship in ways that benefit the organization and its stakeholders.”
  5. Nature of Marketing Management  Specialized business function requiring specialized skills.  Social function requiring constant interaction with society.  Integrative function combining other business functions like production, finance, personnel, R & D etc.  Universal function which can be applied to both profit- motive and non-profit motive organizations.  Science as well as an art.
  6. Nature of Marketing Management. . .  Both consumer oriented and competitors oriented.  It starts with consumers and ends at consumers.  Marketing is a Process.  It Involves a Mix of Product, Pricing, Promotion, and Distribution.  It Is Intended to Satisfy Individual and Organizational Needs.
  7. Importance of Marketing  Financial success often depends on the marketing ability  Marketing enables the organizations to keep abreast of changes  Customer satisfaction, Increases sales and ultimately the profit  Uplifting the standard of the society as a whole  Employment opportunities
  8. Importance of Marketing . . . .  Increased Competition  Marketing help in economic growth and activity  Marketing management helps in improving quality of products or services
  9. Evolution of Marketing/Marketing Orientations/Marketing Philosophies
  10. Marketing Orientations  Marketing philosophies has undergone a thorough and gradual change  This gradual change can be traced by studying different concepts or periods  What philosophy should guide a company’s marketing efforts?  What relative weight should be given to the interests of organization, the customer and the society?
  11. 1. Production Concept  One of the oldest concept of business.  Based on the assumption that whatever is produced will be accepted by the customers.  It prevailed before 1930s.  It holds that consumer will prefer those products which are widely available and inexpensive.  Managers concentrate on achieving high production efficiency, low cost and mass distribution.
  12. 1. Production Concept. . . . . Examples  Ford car model T.  ITI(Indian Telephone Industry) has monopoly and was producing only black colored instruments.  Similarly household electrical appliances like fridge, washing machine geyser, microwave oven etc. were available only in white color (sometime called as white goods).
  13. 2. Product Concept  It holds that customers will accept those products that offer most quality, performance and innovative features.  Till 1930s, there prevailed a strong feeling that whenever a firm has a good product, it results in automatic consumer response and needed little or no promotional efforts.  “Good wine needs no push”.  Managers focus on making superior products and improving them over time.
  14. 2. Product Concept. . . . .  However sometimes these managers caught up in a love affair with their products.  Over emphasis on product excellence may lead to ignorance of customer needs and wants.  This is called the phenomenon of marketing myopia or short-sightedness.
  15. 3. Selling Concept  The failure of production and product concept paved the way for change in outlook that was possible during 1940s.  It states that mere making best product is not enough  It is futile unless the firm resorts to aggressive salesmanship.  Effective sales promotion, high advertising and public relations are of top importance.  The essence is “Goods are not bought but sold”.
  16. 3. Selling Concept. . . . .  The manager’s main task is to convince the buyers through high pressure tactics.  The aim is to sell what company’s make rather than what customers want.  This concept is used for unsought goods which buyers do not think of buying.
  17. 4. Marketing Concept  Emerged in mid 1950s.  It believes that company’s objectives depend upon understanding the needs and wants of customers.  Company must deliver the desired satisfaction in a better way than the competitors are doing.  The job is not to find right customers for your products, but right products for your customers.  It was found that companies who embrace the marketing concept achieve superior performance.
  18. 5. The Societal Marketing concept  The societal marketing concept hold that marketing strategy should deliver value to the customers in away that maintains or improves both the consumers and society’s well being.  Long run welfare than short run wants
  19. The Core concepts of Marketing
  20. 1. Needs, wants and demands • States of deprivation • Physical—food, clothing, warmth, safety • Social—belonging and affection • Individual—knowledge and self-expression Needs • Need directed by specific objects which are shaped by culture and societyWants • Wants backed by buying powerDemands Customer Needs, Wants, and Demands
  21. 2. Marketing Offers/ The scope of Marketing  Products  Services  Persons  Places  Organizations  Information  Ideas  Events  Experiences/Experience marketing
  22. 3. Segmentation, Targeting and Positioning (STP)  Segmentation- Dividing the market into different segments based on different parameters  Targeting- Selecting the segment offering greatest potential and profitability  Positioning- Placing the product/service in the minds of the targeted customers.
  23. 4. Value and Satisfaction  The offering will be successful if it delivers value and satisfaction to the targeted buyers  Value: the difference between the benefits(Tangible/Intangible) received by using a product/service and the cost(monetary cost/searching cost/psychological cost) of buying a product.  Satisfaction: Reflects a person’s comparative judgment resulting from a product’s perceived performance to his expectations
  24. 5. Marketing Channels  Distribution channels: Distributors, wholesalers and retailers etc.
  25. 6. Supply Chain  Describes a longer chain stretching from raw material till the final products that are carried to the buyers.
  26. 7. Competition  Includes all the actual and potential rivals offerings and substitutes that a buyer might consider
  27. 8. Marketing Environment  Microenvironment: customers, suppliers, dealers etc.  Macro environment: Demographic, economic. Technological, social, legal and political environment etc.
  28. Thank you