Marketing-Intro 4th Sem

Introduction to Marketing
“Marketing is the process of planning and

executing the conception, pricing, promotion
and distribution of ideas, goods and services
to create exchange that satisfy individual and
organizational objectives.,” American
Marketing Association
“Marketing is a total system of business
activities designed to plan, price, promote
and distribute want satisfying goods and
services to present and potential customers.
W.J. Stanton
Philip Kotler has defined marketing
as a process by which individuals and
groups obtain what they need and
want through creating, offering and
exchanging products of value with
others.
Identity
Market Place Needs
Develop
Market Offer
Marketing Co-ordinate
Production & Finance
Personnel
Provide Customer Satisfaction
Achieve Organizational Goals

What is Marketing Management?
Marketing management is the
art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value
Objectives of marketing
To plan and develop the product on the basis of customer
demand.
To increase profits and goodwill of the organization.
To organize, direct and control all marketing activities.
To inform the customers about the product.
To enable the successful distribution.
Keep update with the recent market trend.
Production Finance
function function
Marketing Function
The Role
Customer
Of Core Importance
Marketing
Human Resource
function
What is the SCOPE of Marketing?
Goods
Goods
Services
Services
Events
Events &
& Experiences
Experiences
Persons
Persons
Places
Places &
& Properties
Properties
Organizations
Organizations
Information
Information
Ideas
Ideas
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.
1-8
ELEMENTS OF MARKETING
 Needs, wants and demands

 Products
 Value, cost and satisfactions
 Exchange, transactions and
relationship
 Marketers
 Market.
An Exchange & Relationship
Potential Buyer
Each party has :
- something that may be valuable to the other
- freedom to agree or disagree to exchange
- Ability to communicate with and make available what is
being offered to the other
Potential seller
Instructions/Knowledge/Degree
College/University Student
Academic fees
Loan
Bank Borrower
Interest and Principal Payment
Salary
Employer Employee
Productive Services
Proposed Agenda
Political Party (Politician) Voters

Votes
security Citizens
Police
Taxes
market-
A physical place to exchange goods and services
According to Philip Kotler
A market consists of all the potential customers

sharing a particular need or want who might be willing
and able to engage in exchange to satisfy that need or
want.
Classification of Markets
On the basis of Geographical Area
National market
International market
Regional market
Local market
On the basis of nature of Transaction
Future market
Spot market
On the basis of position of sellers
Primary market
Secondary market
Terminal market
P----(p)------W-----(s)-----R------(t)-----C
 P-producer
 W-wholesaler
 R-retailer
 C-customer
On the basis of Economices
Perfect market-
here demand and supply factors are in perfect harmony
Imperfect market-
Here difference between demand and supply
On the basis of buyers and sellers ability to dictate

terms
Buyer’s market-when demand is less and supply is more
Seller’s market-where demand is more than the supply
On the basis of volume of business Transacted
Retail market-
here goods sold by retailers to the customers who use the
product for the ultimate consumption.
Wholesale market-
In this market goods are bought in bulk and the buyers of this
market purchase the product for resale purpose.
Marketers:
A marketer is someone seeking a resource from someone else
and willing to offer something of value in exchange.
Needs, wants,
Markets and demands
Exchange,
transactions,
Products
and
relationships
Value,
satisfaction,
and quality
MARKETING MANAGEMENT
The analysis, planning,
implementation and control
of programs designed to
create, build and maintain
benefical exchanges with
target buyers for the purpose
of achieving organizational
objectives.
MARKETING MIX
 WHAT IS MARKETING MIX?
 IT IS ABOUT ESTABLISHING RIGHT PRODUCT, PRICE, PLACE &
PROMOTION FOR A BUSINESS.
 FOUR P’S OF MARKETING

 PRODUCT
 PRICE
 PLACE
 PROMOTION
The Four Ps
MARKETING MIX VARIABLES
PRODUCT: GOODS, SERVICES OR IDEAS THAT SATISFY
CUSTOMER NEEDS.
DISTRIBUTION: THE READY, CONVENIENT & TIMELY
AVAILABILITY OF PRODUCTS.
PROMOTION: ACTIVITIES THAT INFORM CUSTOMERS ABOUT
THE ORGANISATION & ITS PRODUCTS.
PRICE: DECISIONS & ACTIONS THAT ESTABLISH PRICING
OBJECTIVES & POLLICIES & SET PRODUCT PRICES.
Production Product Marketing Holistic Marketing
Sales orientation orientation Orientation
Orientation orientation
Late 1800s Early 1900s Early 1930s Mid- 1950s 1990s

Production concept
 It is the oldest concept.
Focus will be on goods.
Methods of production is lower prices,
production efficiency.
Goals will be profit through high sales
volume.
This will engage in mass production
Product concept
Focus will be on products relating to quality,
performance or innovative features.
Managers will give their energy on making
superior products and improving them over
time.
This concept tries to help in design , style or
improve the product in compared to
competitors products.
Selling concept
- It directs aggressive selling and promotion
effort
- Advertising & sales force will try to
maximize sales
- Focus –profits through high sales volume.
- It emphasizes on needs of the seller.
- Management is sales volume oriented.
Marketing concept
Emphasis is on customer’s needs and wants.
Marketer first determines the needs of the
customers and delivers the product to satisfy.
Management is profit oriented through
customer satisfaction.
Emphasis is more on buyer’s need.
Planning is long term oriented.
Starting point Focu s Means Ends
Factory Selling,
product Profits through
Promoting
sales volume
The selling concept

Target Customer Co-ordinated Profits through
market needs marketing Customer satisfaction
The marketing concept

Marketing is Process which Selling is the exchange of
begins far ahead of goods for a price. It is a part of
production and lasts much marketing process
after the sale of the product
 Emphasis is on customer’s needs and  Emphasis is on the product.
wants.
 First the needs and wants of the
 Organization first makes the product
customers and then delivers the product
to satisfy those needs and wants. and then figures out how to sell it.
 Management is Profit oriented through  Management is sales volume oriented
customer satisfaction.
 Planning is long term oriented
 Planning is short rum oriented.
 It emphasizes more on the need of the
buyer.  It emphasizes on needs of the seller
 Marketing creates time, place and  Selling is the transfer of ownership of
possession utilities for satisfactory goods. It creates only possession
exchange of goods and services. utilities.
Holistic Marketing Dimensions

Marketing-Intro 4th Sem

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Marketing-Intro 4th Sem

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Introduction to Marketing

“Marketing is the process of planning and

Provide Customer Satisfaction

Achieve Organizational Goals

 Needs, wants and demands

Political Party (Politician) Voters

According to Philip Kotler

A market consists of all the potential customers

On the basis of buyers and sellers ability to dictate

 FOUR P’S OF MARKETING

Late 1800s Early 1900s Early 1930s Mid- 1950s 1990s

The selling concept

The marketing concept

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