General Management

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Every business unit has an objective of its own. As E. Demock states, “The management is not a matter of pressing a button, pulling a lever, issuing orders, scanning P & L statement, promulgating rules and regulations. Rather it is the power to determine what shall happen to the personalities and happiness of entire people, the power to shape the destiny of a nation and of all the nations which make up the world”. Management is the process consisting of functions of planning, organizing, staffing, directing and controlling the operations to achieve specified objectives.
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General Management

  1. 1. Chapter 1 The Nature Of MarketingChapter-1 The Nature of Marketing
  2. 2. Learning Objectives Define the term “marketing” Describe four marketing management philosophies Discuss the differences between sales and market orientations Macro and Micro marketing defined Describe the marketing process Describe several reasons for studying marketing Marketing ManagementChapter-1 The Nature of Marketing
  3. 3. Marketing- What’s It all About? More than Selling and Advertisement All Those Bicycles Marketing ManagementChapter-1 The Nature of Marketing
  4. 4. Why Marketing? Products do not sell themselves! Makes sure that the right goods and services are produced Form utility Task utility Time utility Place utility Marketing ManagementChapter-1 The Nature of Marketing
  5. 5. Definition of Marketing “Marketing is the process of planning and executing the concept of pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals” Marketing ManagementChapter-1 The Nature of Marketing
  6. 6. Concept of Exchange People give up something in order to receive something that they would rather have. The usual medium of exchange is money. Exchange can also be fostered through barter or trade of items or services Marketing ManagementChapter-1 The Nature of Marketing
  7. 7. Five conditions for an exchange There must be two parties Each party must have something the other party values Each party must be able to communicate with the other party and deliver the goods or services sought by the other trading party Each party must be free to accept or reject the other’s offer Each party must want to deal with the other party Marketing ManagementChapter-1 The Nature of Marketing
  8. 8. Marketing Management- Philosophy Production Focus on efficiency of internal operations Sales Focus on aggressive techniques for overcoming customer resistance Market Focus on satisfying customer needs and wants Societal Focus on enhancing individual and societal well-being Marketing ManagementChapter-1 The Nature of Marketing
  9. 9. Production Orientation Focuses on internal capabilities of the firm rather than on the desires and needs of the marketplace Most likely to work for firms producing generic products E.g. Fast food industry Marketing ManagementChapter-1 The Nature of Marketing
  10. 10. Sales Orientation Assumes that more goods and services will be purchased if aggressive sales techniques are used and that high sales result into profits E.g. Insurance The fundamental problem with this approach is lack of understanding of the needs and wants of the marketplace Marketing ManagementChapter-1 The Nature of Marketing
  11. 11. Marketing Orientation Focuses on customer wants and needs Integrates all the organization’s activities Achieves long-term goals for the organization Assumes that sales depends on customer’s desire to purchase a products Marketing ManagementChapter-1 The Nature of Marketing
  12. 12. Societal Marketing Orientation Organization exists not only to satisfy customer wants and needs but also to preserve individual’s and society’s long-term best interests This orientation serves three bodies The organization itself Society customers Marketing ManagementChapter-1 The Nature of Marketing
  13. 13. Marketing’s Role over the time Era Focus Simple trade Sell surplus Production Increase supply Sales Beat competition Marketing Dept. Coordinate & control Marketing Company Customer satisfaction Marketing ManagementChapter-1 The Nature of Marketing
  14. 14. Customer Value Customer value is the ratio of benefits to the sacrifice necessary to obtain those benefits Creating customer values is a core business strategy of many success firms Marketing ManagementChapter-1 The Nature of Marketing
  15. 15. Marketers interested in customer value Offer products that perform Give consumers more than they expect Avoid unrealistic pricing Give the buyer facts Offer organization wide commitment in serves and after-sales support Marketing ManagementChapter-1 The Nature of Marketing
  16. 16. The Marketing Concept & Customer Value Take customer’s point of view Customer may not dwell on value Where does competition fit? Cost Benefits Customer Marketing ManagementChapter-1 The Nature of Marketing
  17. 17. The Marketing Concept Customer Satisfaction The company Effort The Marketing Concept Profit Marketing ManagementChapter-1 The Nature of Marketing
  18. 18. Relationship Marketing A sense of well-being occurs when one establishes an on-going relationship with provider Depends on Customer orientation Effective training programme Employees Team work Marketing ManagementChapter-1 The Nature of Marketing
  19. 19. Putting it all together Superior Customer Value Total company effort to satisfy Customer Customer Acquisition Profitable Customer Relationships with Satisfaction Customer Customer Retention Marketing ManagementChapter-1 The Nature of Marketing
  20. 20. Micro-Marketing Is the performance of activities that seek to accomplish an organizations objectives, by anticipating customers that will satisfy those needs . It is a set of activities performed by organizations Marketing ManagementChapter-1 The Nature of Marketing
  21. 21. Macro-marketing It refers to the social process that directs goods and services in an economy from produced to consumers in a way that accomplishes the objectives of society by effectively matching supply and demand Emphasis is on how the whole marketing system works Marketing ManagementChapter-1 The Nature of Marketing
  22. 22. Marketing Process Organization’s mission and vision, and the role marketing plays Setting marketing objectives Gathering , analyzing and interpreting information Developing marketing strategy Implementing the marketing strategy Designing performance measure Periodically evaluating marketing efforts and making changes if necessary Marketing ManagementChapter-1 The Nature of Marketing
  23. 23. Who performs marketing activities ? Consumers Marketing specialists Advertising agencies Internet service providers Transporting firms Marketing ManagementChapter-1 The Nature of Marketing
  24. 24. Reasons for studying Marketing Important role in society Important to businesses Offers outstanding career opportunities Affects your life everyday Increasing importance of the global marketplace Marketing ManagementChapter-1 The Nature of Marketing
  25. 25. Summary “Marketing is the process of planning and executing the concept of pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals” There are four main marketing philosophies, 1. Production 2.Sales 3. Marketing 4. Societal Customer value is the ratio of benefits to the sacrifice necessary to obtain those benefits Marketing ManagementChapter-1 The Nature of Marketing
  26. 26. Summary Relationship marketing provides a sense of well-being occurs when one establishes an on-going relationship with provider Micro-marketing is a set of activities performed by organizations Macro-marketing emphasizes on how the whole marketing system works Study of marketing is essential as it affects our day to day life Marketing ManagementChapter-1 The Nature of Marketing

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