Marketing management refers to the control and operations of various marketing activities and the people involved in those activities

1. PPT ON MARKETING MANAGEMENT
PHILOSOPHIES, CUSTOMER VALUE
AND MARKETING PLAN
By – Akash Jamwal

2. What Is Marketing?

3. Marketing
• Marketing is a process or a set of processes used to understand the
target audience better, develop a valuable offering, communicate and
deliver value to satisfy the needs, wants, and desires of the target
audience at a profit.
• A simple definition of marketing would be, as Kotler puts it, “meeting
the needs of your customer at a profit.” Thus, marketing involves
everything that a business requires to meet the needs of its
customers, and that too, at a profit.

4. What Is The Importance Of Marketing?
• Marketing is essential because it helps the business consider the
customer as its focal point and develop a sustainable business that
provides value to society.
•
• It is the heart of the business which collects information from the
outside, filter it, and convert it into specialized strategies which help
the business fulfil the customer requirements while making profits.

5. What Are The Objectives Of Marketing?
• Customer Satisfaction: Satisfying the needs, wants, and demands of the
customers.
• Profitability: Earning profit for the business to support sustainable growth.
• Demand Creation: Develop demand for the offerings by communicating
about it to the target audience.
• Brand Development: Building a brand out of the company and/or the
offering and differentiating it from other players in the market.
• Create Goodwill And Public Image: Building up a public image of the brand
and increasing its equity by providing offerings with a consistent brand
promise

6. Marketing Concepts

7. Marketing Management Philosophies

8. Marketing Management Philosophies
• Production Concept: Production concept is based on the idea that
customers will prefer products that are affordable and are produced
in bulk. In this marketing concept, the aim of organisations is to
produce in bulk, increasing production efficiency, reducing costs and
distribution performed on a large scale.
• The idea of consumer demand for affordable products comes from the
Say’s law that states that “supply will create its own demand”.
• By increasing the production of the products, the companies utilise
the advantage of economies of scale. The reduced cost price makes
the product appear inexpensive to the customer which generates
more sales.

9. Marketing Management Philosophies
• Product Concept: This is another marketing philosophy that is
concerned with quality of the product rather than the quantity of the
product. The consumers are always looking out for quality products
and are not worried about price and the availability of the product.
• Companies following this approach will be creating high quality
products that will satisfy the requirements of such customers, but it
will be expensive in the process.
• Since the focus of the companies is on producing quality products,
they lose out on customers that seek inexpensive products or are
influenced by availability and usability of the product.

10. Marketing Management Philosophies
• Selling Concept: This is the third philosophy and it is based on actual
selling of the product. In the earlier two philosophies or concepts the
emphasis was on production whereas selling concept is more focused
on making sales for every product, which is irrespective of quality of
the product or the needs of the customer.
• Companies following this approach have a short life span and thus
have very less repeat customers.

11. Marketing Management Philosophies
• Marketing Concept: The selling concept is not for a long duration. The
market is customer centric, therefore any product that should be able
to fulfill the customer needs. Marketing concept is based on the
assumption that a consumer will purchase products.
• Companies conduct research in order to identify customer needs and
create a product that meets those needs in a better way than their
competitors. It results in businesses developing relationships with
customers that leads to profit generation in the long run.

12. Marketing Management Philosophies
• Societal Marketing Concept: This is the fifth marketing concept that
is mainly concerned with meeting the needs of customers as well as
working towards protecting the environment, its natural resources
and overall well being of the society.
• This marketing philosophy believes that business is a part of the
society and therefore businesses should give it back to society in the
form of social services like poverty eradication, promoting literacy,
etc.

13. Customer Value
Customer Value is the incremental benefit which a customer
derives from consuming a product after paying in return. The
term value signifies the benefit that a customer gets from a
product. It is the difference between the benefits (sum of
tangible and intangible benefits) and the cost. Customer value
is dependent on the three factors – Quality, Service and Price.
Hence, these three together form the ‘Customer Value Triad’.
The value of a product increases with its quality and service, as
the benefits increase. On the other hand, the value decreases
with increase in price because of the increase in costs increase
in this case.

14. Marketing Plan

15. Marketing Plan
A marketing plan is an operational document that outlines an advertising strategy
that an organization will implement to generate leads and reach its target
market. A marketing plan details the outreach and PR campaigns to be
undertaken over a period, including how the company will measure the effect of
these initiatives. The functions and components of a marketing plan include the
following:
.Market research to support pricing decisions and new market entries
.Tailored messaging that targets certain demographics and geographic areas
.Platform selection for product and service promotion: digital, radio, Internet,
trade magazines, and the mix of those platforms for each campaign
.Metrics that measure the results of marketing efforts and their reporting
timelines