MARKETING MANAGEMENT
An Introduction

2 March 2014

MARKETING MANAGEMENT

1
What’s Marketing?
•
•
•
•

Only selling and advertising?
“Telling and selling”-old sense
“Satisfying customer needs”
If th...
Marketing Defined
• In a broader sense “It’s a social and
managerial process by which individuals and
organizations obtain...
Marketing Process

Understand
customer
needs and
wants

2 March 2014

Design
customer
driven
Marketing
strategy

Construct...
Customer needs, Wants and demands
• Needs: the most basic concept underlying
marketing.
• These are states of felt depriva...
>>Customer needs, Wants and
demands
• Wants: are different forms, human needs take or
appear as they are influenced by cul...
>>Customer needs, Wants and
demands…
Market Offerings:
Customers needs and wants are satisfied
through a market offering.
...
>>Customer needs, Wants and
demands
Marketing myopia:
Many sellers gives more attention to the
specific product they offer...
Products and services
• People satisfy their needs and wants with
products and services
• A product is anything that can b...
>>Products and services
• Services
Any activity or benefit that one party can offer
to another that is essentially intangi...
Value, Satisfaction and Quality
Customer value
• Broad array of products
• How do they choose among these market
offerings...
Customer satisfaction
• It depends on the product’s perceived
performance relative to a buyer’s
expectations.
• If the pro...
MARKET
Marketing occurs when people decide to satisfy needs and
wants through exchange relationships.

A market is the set...
Concepts of Marketing
A strategy is needed.
What weight should be given to the interest of
the customers, organization and...
The Production Concept
• It is the oldest concept.
• As per this concept, consumers will favour
those products that are av...
The Product Concept
• The consumers favour those products that offer
the most in quality, performance and innovative
featu...
Selling Concept
• The concept is that the consumers will not buy
enough of the firm’s products unless the firm
undertakes ...
Marketing Concept
• This concept holds that achieving organizational goals
depends on knowing the needs and wants of the t...
Societal Marketing Concept
• This concepts holds that a company should
not overlook the long run consumer welfare
for thei...
Consumers
(Want satisfaction)

Societal Marketing

Company

Society

(Profits)

(Human welfare)

2 March 2014

MARKETING M...
Call back cases
http://www.apple.com/uk/support/ipodnano_r
eplacement/
http://www.guardian.co.uk/business/2012/oct/
10/toy...
FEATURES OF MODERN MARKETING
Modern marketing is customer oriented.
Customer satisfaction is the core.
Emphasis shifted fr...
>> FEATURES OF MODERN MARKETING
• It is technology based
(for survey, analysis, generalization, product
formulation, testi...
Types of Marketing
• Marketing
• Demarketing-Influencing customers to
reduce demand(electricity/pds/PU’s.)
• Remarketing- ...
Types of mkting
• Mass-marketing-Mass production, mass
distribution and mass promotion of one
product for the buyers
• Met...
Marketing and Selling
Selling

Marketing

Emphasis is on product

Emphasis os on customer value

Emphasis is on sellers ne...
Marketing Mix
(Four P’s)
• It is one of the major concept in modern
marketing,
• There are controllable and uncontrollable...
Marketing Mix
• Marketing mix is everything that the firm can do
to influence the demand for its products
• Competitors be...
Marketing Mix
Product
Variety
Quality
Design
Features
Brand Name
Packaging
Services

Price

Promotion
Advertising
Personal...
Marketing Environment

2 March 2014

MARKETING MANAGEMENT

30
Marketing Environment
The actors and forces outside the company
that affect marketing management’s ability to
build and ma...
Marketing Environment
• Suppliers
• ( Quality, delivery time, credit, warrantees and
cost-Treat suppliers as part of the p...
Macro environment
Demographic evnt.( The study of human population, its
size, geographical distribution,density,birth rate...
SERVICES
• Any activity or benefit that one party can offer
to another that is essentially intangible and
does not result ...
SERVICES
• Governments, Not for Profit organisations and
Private organisations offer various services.
• Features
1.Servic...
SERVICES
2. Perishability
3.Inseperability
4.Heterogeneity
5.Ownership
6.Simultaneity
7.Quality Measurement
8.Nature of De...
Upcoming SlideShare
Loading in...5
×

Introduction to marketing management

1,066

Published on

FOR INITIAL DISCUSSION IN THE DEGREE CLASSES

Published in: Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
1,066
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
83
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Introduction to marketing management

  1. 1. MARKETING MANAGEMENT An Introduction 2 March 2014 MARKETING MANAGEMENT 1
  2. 2. What’s Marketing? • • • • Only selling and advertising? “Telling and selling”-old sense “Satisfying customer needs” If the company understands the consumer needs, develops products and services, prices, distributes and promote effectively, these products will sell easily. • The aim of marketing is to make selling unnecessary-Peter F Drucker. 2 March 2014 MARKETING MANAGEMENT 2
  3. 3. Marketing Defined • In a broader sense “It’s a social and managerial process by which individuals and organizations obtains what they need and want through creating and exchanging of values with others.” Philip Kotler. • In a narrow sense, is the process by which companies create value for customers and build strong customer relationships in order to capture value from the customers 2 March 2014 MARKETING MANAGEMENT 3
  4. 4. Marketing Process Understand customer needs and wants 2 March 2014 Design customer driven Marketing strategy Construct a marketing programme to deliver value MARKETING MANAGEMENT Build Profitable relationships Capture value from customers to create profit and customer equity 4
  5. 5. Customer needs, Wants and demands • Needs: the most basic concept underlying marketing. • These are states of felt deprivation • A lack of something in a living organism. • Need for food, shelter, friendship. Cloth, health, enjoyments, education, travel etc. • No alternative but to satisfy. • They are not created by marketers ,but the basic human makeup. 2 March 2014 MARKETING MANAGEMENT 5
  6. 6. >>Customer needs, Wants and demands • Wants: are different forms, human needs take or appear as they are influenced by culture and individual personality. • Wants are shaped by one’s society and are described in terms of objects that satisfy needs. • When backed by buying power, wants will become demands. • Good companies collects infrn. About customer needs, wants and demands. 2 March 2014 MARKETING MANAGEMENT 6
  7. 7. >>Customer needs, Wants and demands… Market Offerings: Customers needs and wants are satisfied through a market offering. These are combinations of products, services, information, experiences that satisfy a need or want. Not limited to physical products alone. Other entities such as persons, places, information, organizations and ideas. 2 March 2014 MARKETING MANAGEMENT 7
  8. 8. >>Customer needs, Wants and demands Marketing myopia: Many sellers gives more attention to the specific product they offer, than the benefits and experiences produced by these products. They do not see the underlying need of the product, but focus on the product. 2 March 2014 MARKETING MANAGEMENT 8
  9. 9. Products and services • People satisfy their needs and wants with products and services • A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want. Philip Kotler • It includes physical objects, services, persons, places, organization s and ideas. 2 March 2014 MARKETING MANAGEMENT 9
  10. 10. >>Products and services • Services Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. 2 March 2014 MARKETING MANAGEMENT 10
  11. 11. Value, Satisfaction and Quality Customer value • Broad array of products • How do they choose among these market offerings • Buys the brand with the highest perceived customer value. • A customers evaluation of the difference between all the benefits and all cost of a market offering relative to those of the competing offers. 2 March 2014 MARKETING MANAGEMENT 11
  12. 12. Customer satisfaction • It depends on the product’s perceived performance relative to a buyer’s expectations. • If the products performance fall short of the expectations, the customer is dissatisfied. • If the performance matches expectations, he will be satisfied. • If it exceeds expectations, the customer will be delighted. 2 March 2014 MARKETING MANAGEMENT 12
  13. 13. MARKET Marketing occurs when people decide to satisfy needs and wants through exchange relationships. A market is the set of actual and potential buyers of a product. Marketing means managing markets to bring about profitable customer relationships. Marketing management is the art and science of choosing target market and building profitable relationships with them. 2 March 2014 MARKETING MANAGEMENT 13
  14. 14. Concepts of Marketing A strategy is needed. What weight should be given to the interest of the customers, organization and society? There are five different concepts. Such as Production concept, Product concept, selling concept, marketing concept and societal marketing concept. 2 March 2014 MARKETING MANAGEMENT 14
  15. 15. The Production Concept • It is the oldest concept. • As per this concept, consumers will favour those products that are available and highly affordable. • Therefore, management should improve production and distribution efficiency. • Though old, it is useful in certain situations. • Companies following this concept run a major risk of focusing too narrowly on their own operations and losing sight of others and the real objective of satisfying customer needs. 2 March 2014 MARKETING MANAGEMENT 15
  16. 16. The Product Concept • The consumers favour those products that offer the most in quality, performance and innovative features. • Strategy is to effect continuous product improvements • Better mouse trap • A better product will not sell unless the manufacturer designs, packages and prices it attractively and puts in a good distribution channel. 2 March 2014 MARKETING MANAGEMENT 16
  17. 17. Selling Concept • The concept is that the consumers will not buy enough of the firm’s products unless the firm undertakes a large scale selling and distribution efforts. • Such aggressive selling is risky • It creates only sales transactions rather than building long-term customer relations, • The concept is specifically followed in the case of unsought goods. 2 March 2014 MARKETING MANAGEMENT 17
  18. 18. Marketing Concept • This concept holds that achieving organizational goals depends on knowing the needs and wants of the target customers and delivering the desired satisfaction better than competitors do. • Here customer and value are the paths to sales and profits. • Instead of ‘make and sell’, it is ‘sense and respond’ way. • It aims profit through customer satisfaction. • Not hunting but gardening • Not finding the suitable customers but to find the products suitable for its customers 2 March 2014 MARKETING MANAGEMENT 18
  19. 19. Societal Marketing Concept • This concepts holds that a company should not overlook the long run consumer welfare for their short run wants and satisfaction. • While satisfying the immediate needs, marketer should consider what's best for them in the long run. • Long run interest of the company and the society must be protected. 2 March 2014 MARKETING MANAGEMENT 19
  20. 20. Consumers (Want satisfaction) Societal Marketing Company Society (Profits) (Human welfare) 2 March 2014 MARKETING MANAGEMENT 20
  21. 21. Call back cases http://www.apple.com/uk/support/ipodnano_r eplacement/ http://www.guardian.co.uk/business/2012/oct/ 10/toyota-automotive-industry http://www.cbc.ca/news/canada/story/2012/10 /08/xl-foods-beef-recall.html 2 March 2014 MARKETING MANAGEMENT 21
  22. 22. FEATURES OF MODERN MARKETING Modern marketing is customer oriented. Customer satisfaction is the core. Emphasis shifted from mere profit maximization to profit through customer satisfaction. It begins and ends with customers It precedes and succeeds production It is competition oriented It focus on customer retention.”Once a customer, always a customer” 2 March 2014 MARKETING MANAGEMENT 22
  23. 23. >> FEATURES OF MODERN MARKETING • It is technology based (for survey, analysis, generalization, product formulation, testing, test marketing, feedbacks, advts, after sale services, information dissemination, etc.) • It is based on segmentation and targeting 2 March 2014 MARKETING MANAGEMENT 23
  24. 24. Types of Marketing • Marketing • Demarketing-Influencing customers to reduce demand(electricity/pds/PU’s.) • Remarketing- Finding new uses or users for an existing product. Most car such as Maruti, Daimler etc use this to market the used cars. • Over-marketing-An attempt to generate maximum sales even by neglecting quality and efficiency • Counter-marketing-Killing the demand. 2 March 2014 MARKETING MANAGEMENT 24
  25. 25. Types of mkting • Mass-marketing-Mass production, mass distribution and mass promotion of one product for the buyers • Meta-marketing—E.J.Kelly. Marketing of ideologies, beliefs, and faith…Meta marketing attempts to apply scientific,social,ethical and managerial experience in the field of marketing. • Direct Marketing • International Marketing 2 March 2014 MARKETING MANAGEMENT 25
  26. 26. Marketing and Selling Selling Marketing Emphasis is on product Emphasis os on customer value Emphasis is on sellers needs Emphasis is on buyers needs Selling is profit oriented Marketing is customer oriented Aims sales and Profit maximization Aims customer satisfaction Selling begins after production It begins even before production It create only possession utility It creates time, place and possession utility Narrow in scope Wider in scope 2 March 2014 MARKETING MANAGEMENT 26
  27. 27. Marketing Mix (Four P’s) • It is one of the major concept in modern marketing, • There are controllable and uncontrollable factors that influence the marketing programme. • It is a set of controllable tactical marketing tools-product, price, place and promotion that the firm blends to produce the response it wants in the target market. 2 March 2014 MARKETING MANAGEMENT 27
  28. 28. Marketing Mix • Marketing mix is everything that the firm can do to influence the demand for its products • Competitors behavior, govt.policy,fashion, trend etc. are uncontrollable. • It consists of everything that the firm can do to influence the demand for its products • Product means the goods and services combination the company offers to the target market. • It is actually a product mix. 2 March 2014 MARKETING MANAGEMENT 28
  29. 29. Marketing Mix Product Variety Quality Design Features Brand Name Packaging Services Price Promotion Advertising Personal selling Sales Promotion Target Customers Public relations List Price Discounts Allowances Payment Period Credit terms Place Channels Coverage Assortments Location Inventory Transportation Logistics 2 March 2014 MARKETING MANAGEMENT 29
  30. 30. Marketing Environment 2 March 2014 MARKETING MANAGEMENT 30
  31. 31. Marketing Environment The actors and forces outside the company that affect marketing management’s ability to build and maintain successful relationships with target customers. • There can be micro and macro environment. • Micro Environment • Actors close to the company that affect its ability to serve its customers, intermediaries, customer markets, competitors and publics 2 March 2014 MARKETING MANAGEMENT 31
  32. 32. Marketing Environment • Suppliers • ( Quality, delivery time, credit, warrantees and cost-Treat suppliers as part of the partners) • Customer Markets (Five types of customer market.1,Consumer Market 2, Business Market 3,Reseller Market 4,Government market and 5, International market) • Competitors( satisfy the needs better than our competitors do-there can be some competing strategies) • Intermediaries ( Wholesalers, retailers, warehouses, transporters,ag ents,insurers ) • General Public ( favourable reaction from the public; Public relation is certainly an important strategy) 2 March 2014 MARKETING MANAGEMENT 32
  33. 33. Macro environment Demographic evnt.( The study of human population, its size, geographical distribution,density,birth rate,death rate,sex age,etc.) Economic envt.(State of the conomy,natonal income, pattern of its distribution, business cycle, cost of living, interest rate etc.) Natural(Physical) envt. (The marketing manager has to look in to the environmental consequences of product, production process ,packaging, residue,etc.) Technological envt.-Creative destruction, it involves forces which affect new technology, product innovation and new business opportunities. Political and legal envt. Social and cultural envt. International envt. 2 March 2014 MARKETING MANAGEMENT 33
  34. 34. SERVICES • Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. • The volume of service has grown dramatically in recent years • Services now account for nearly 80 per cent of the US economy. • By 2014, it is estimated , every four out of five jobs will be from services. 2 March 2014 MARKETING MANAGEMENT 34
  35. 35. SERVICES • Governments, Not for Profit organisations and Private organisations offer various services. • Features 1.Service Intangibility: cannot be seen, touched, felt, tasted, smelt or heard before they are bought. - To reduce the quality uncertainty, buyers look for signals of quality.(Place, people, price, equipments, and communications they receive) 2 March 2014 MARKETING MANAGEMENT 35
  36. 36. SERVICES 2. Perishability 3.Inseperability 4.Heterogeneity 5.Ownership 6.Simultaneity 7.Quality Measurement 8.Nature of Demand 2 March 2014 MARKETING MANAGEMENT 36
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×