Define the marketing

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  • Share KBC saga(marketing war), HLL (Leader in FMCG)
  • Find few indian co. taglines
  • Give e. g of value & satisfaction -students


  • 1. Marketing in the Twenty-first Century
  • 2. Defining Marketing
    • Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others.
    • Aim of marketing- Know & understand customer so well that product fits & sells itself
  • 3. Exchange vs. Transaction
    • Exchange:
      • Act of obtaining a desired object from someone by offering something in return.
    • Transaction:
      • A trade of values between two parties.
      • One party gives X to another party and gets Y in return. Can include cash, credit, check, or barter.
  • 4. Difference b/w marketing & selling Market Integrated marketing Profits through customer satisfaction Customer needs (b) The marketing concept Factory Existing products Selling and promotion Profits through sales volume Starting point Focus Means Ends (a) The selling concept
  • 5. Marketing orientations Maximize profits through increased consumer satisfaction & hence raise market share. “ what can we do that will make product better than competitors in the customer mind” Sellings orientations Maximize profits through sales maximization “ we must somehow hook the customer”
  • 6. What is a Market?
    • The set of actual and potential buyers of a product.
    • These people share a need or want that can be satisfied through exchange relationships.
  • 7. Products Anything that can be Offered to a Market to Satisfy a Need or Want Persons Places Organizations Ideas Information What Satisfies Consumers’ Needs and Wants? Services Activity or Benefit Offered for Sale That is Essentially Intangible and Does Not Result in the Ownership of Anything
  • 8. goods Events & experiences Services Ideas information properties What is Marketed
  • 9. Simple Marketing System Goods/services Money Industry (a collection of sellers) Market (a collection of Buyers) Communication Information
  • 10. Structure of Flows Manufacturer markets Services, money Government markets Services, money Services Services, money Taxes Taxes, goods Taxes, goods Taxes, goods Money Money Consumer markets Intermediary markets Goods, services Goods, services Resources Resources Resource markets Money Money
  • 11. Company Orientations Towards the Marketplace Production Concept Consumers prefer products that are widely available and inexpensive High production efficiency, low cost, mass distribution Product Concept
    • Consumers favor products that
    • offer the most quality, performance,
    • or innovative features
  • 12. Selling Concept Consumers will buy products only if the company aggressively promotes/sells these products Unsought goods-insurance, encyclopedias Marketing Concept Focuses on needs/ wants of target markets & delivering value better than competitors
  • 13. Holistic Marketing orientation- Development , design & implementation of marketing programs , processes & activities that recognizes their breadth & interdependence
  • 14. The Four Ps Marketing Mix The Four Cs Customer Solution Customer Cost Communication Convenience Integrated marketing Product Price Promotion Place
  • 15.  
  • 16. Core Concepts of Marketing Product or Offering Value and Satisfaction Needs, Wants, and Demands Relationships and Networks Target Markets & Segmentation Marketing Channels-communication & channel Supply Chain Competition Marketing Environment- task & broad
  • 17. This Is a Need Needs – Basic human requirements including physical, social, and individual needs.
  • 18. Types of Needs
    • Physical:
      • Food, clothing, shelter, safety
    • Social:
      • Belonging, affection
    • Individual:
      • Learning, knowledge, self-expression
  • 19. This Is a Want
    • Wants - form that a human need takes, as shaped by culture and individual personality.
  • 20. This Is Demand “ Demand” Wants Buying Power
  • 21. Need / Want Fulfillment
    • Needs and Wants Fulfilled through a Marketing Offer :
      • Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
  • 22. Value and Satisfaction If performance is lower than expectations, satisfaction is low. If performance is higher than expectations, satisfaction is high. Expectation Performance 8 10 Expectation Performance 10 8
  • 23. Segmentation and Target Marketing #1 #2 Market Segmentation: Divide the market into segments of customers Target Marketing: Select the segment to cultivate
  • 24. The Company’s Macro environment
  • 25. Actors in the Microenvironment
  • 26. Marketing shapes consumer needs and wants versus marketing reflects the needs and wants of consumers. Discussion Question
  • 27. Customer-Oriented Organization Chart Customers Front-line people Middle management Top manage- ment Customers Customers
  • 28. Evolving Views of Marketing’s Role e. The customer as the controlling function and marketing as the integrative function Customer Marketing Production Human resources Finance
  • 29. Marketing Management Tasks Creating long term growth Communicating value Delivering value Connecting with customers Building strong brands Marketing strategies