Chapter 1 field of marketing.ppt ( BBA 1st Semester ) By Rafique Ahmed Khattak

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Marketing Slides For Kardan Students BBA 1st Semester

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Rafique Ahmed ( Lecturer at faculty of Business Administration )

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Chapter 1 field of marketing.ppt ( BBA 1st Semester ) By Rafique Ahmed Khattak

  1. 1. MARKETING 14th edition Chapter # 1 The Field of Marketing Prepared by Rafique Ahmed
  2. 2. ‘Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others’ Kotler 1991
  3. 3. SOME BASIC CONCEPTS 1 NEED • Needs are basic and necessary requirements of human beings, with out fulfillment of which life will not be possible. • For example food, shelter, clothing
  4. 4. SOME BASIC CONCEPTS • 2. Wants • Those needs which are not basic in nature, but if we get them life becomes full of comforts A human need which is shaped by culture and individual. i.e. I want a Coca Cola. I want kebab.
  5. 5. SOME BASIC CONCEPTS • Demand • Demand is the willingness to pay and ability to pay for the satisfaction of needs and wants.
  6. 6. This is Demand 1-6 “Demand” Buying PowerWant
  7. 7. SOME BASIC CONCEPTS • Product • A product may be a good, service, place or an idea. So all tangible and intangible attributes which can satisfy human wants are product.
  8. 8. SOME BASIC CONCEPTS • Market Market means, “The people or organizations with needs to satisfy, money to spend and willingness to spend money”. • A market is a place where buyer and seller met together.
  9. 9. WHAT IS EXCHANGE? • The process of paying money or other valuables and getting goods and service in return is known as “exchange”.
  10. 10. CONDITIONS OF EXCHANGE: 1 Two or more than two persons or organizations should be involved, and they must have some need for exchange. 2 It always occur voluntarily 3 Each party or person may have something of value for other person or party
  11. 11. CONDITIONS OF EXCHANGE: 4 They must communicate with each other as we have already studied that buyers go to the market in order to purchase products or hire services.
  12. 12. WHY MARKETING….? • In order to fulfill the needs and wants, the buyers have a lot of options to purchase a particular product. • For example. if you want to purchase a sim card you can go for Roshan, Etisalat and MTN, etc similarly if you want to purchase burger, you can have it from KFC, AFC or any other restaurant in Kabul city.
  13. 13. Cont`d but the problem is that every organization want you to purchase their products. • So to convince and remind the customers to start using or to keep using a particular product the organizations have to perform the “marketing function” • which is aimed at bringing a “matching effect” in between wants and products.
  14. 14. What is Marketing? 1-14 Marketing is a total system of business activities designed to plan product price, promote, and place (distribute) want-satisfying product to target markets in order to achieve oganizational objectives.
  15. 15. Definitions of marketing ‘Marketing is the management process that identifies and satisfies customer requirements profitably’ The Chartered Institute of Marketing
  16. 16. ‘Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others’ Kotler 1991
  17. 17. Marketing Mix The “Four P’s” 1-17 (Distribution) roduct ricing romotion lace
  18. 18. Marketing Mix The “Four P’s” • The Marketing Mix The strategy (Planning) of designing the combination of products where and when it is distributed, how it is promoted and at what price. 1-18 Product Pricing Place Promotion Target Market
  19. 19. The Four P`s The Four C`s 1-19 Price Promotion Place Customer Solution Customer Cost Communication Conven- ience Product Marketing Mix
  20. 20. Market Segmentation & Target Marketing Market Segmentation Dividing a market into customer categories 1-20 Target Marketing Selecting a category of customers with similar wants and needs who are likely to respond to the same products
  21. 21. Segmentation and Target Marketing 1-21 Market Segmentation: Divide the market into segments of customers Target Marketing: Select the segment to develop #1 #2
  22. 22. Marketing Management Philosophies 22 Marketing for Hospitality and Tourism, 3e ©2002 Pearson Education, Inc. Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458 Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept •Consumers favor products that are available and highly affordable. •Improve production and distribution. •Consumers favor products that offer the most quality, performance, and innovative features. •Consumers will buy products only if the company promotes/ sells these products. •Focuses on needs/ wants of target markets & delivering satisfaction better than competitors. •Focuses on needs/ wants of target markets & delivering superior value.
  23. 23. Design a customer-driven marketing strategy Marketing Concept • There are five alternative concepts under which organization designs and carry out marketing strategies. ( the production concept-the product concept-selling concept- the marketing concept-the social marketing concept) 1 The Production Concept the idea that consumers will favor products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency.
  24. 24. 2 The product Concept The idea that consumers will favor products that offer the most quality, performance, features and that the organization should therefore dedicate its energy to making continuous product improvement. 3 The Selling Concept The idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort. 1-24
  25. 25. Design a customer-driven marketing strategy cont... 4 Marketing Concept The marketing management philosophy that achieving organizational goal depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do. 5 The Social Marketing Concept The company should make good marketing decisions by considering consumers long run interests, and society long run interests.
  26. 26. Company Orientations Towards the Marketplace Production Concept Consumers prefer products that are widely available and inexpensive Product Concept Consumers favor products that offer performance, most quality, or innovative features Selling Concept Consumers will buy products only if company aggressively promotes/sells these products Marketing Concept Focuses on needs/ wants of target markets & delivering value better than competitors
  27. 27. Value and Satisfaction 1-27 Expectation Performance 810 If performance is lower than expectations, satisfaction is low. If performance is higher than expectations, satisfaction is high. Expectation Performance 108
  28. 28. Customer Value • Customer value = customer benefits – customer costs Customer benefits Anything desired by the customer that is received in an exchange Customer costs Anything a customer gives up in an exchange for benefits 1-28
  29. 29. The Marketing Concept 1-29 MARKETING CONCEPT Customer orientation Organization’s performance objectives Coordinated marketing activities + + + Customer satisfaction Organizational success
  30. 30. Societal Marketing Concept 1-30 Society (Human Welfare) Consumers (Wants) Company (Profits) Societal Marketing Concept
  31. 31. IMPORTANCE OF MARKETING • Marketing is playing a very important role in today`s business world, and its importance is increasing day by day,
  32. 32. IMPORTANCE OF MARKETING • AT GLOBAL LEVEL: • Marketing provides services in promoting multinational business all around the world to international customers in international markets. • Coca Cola operates all over the world, and the marketers are providing services for them in the entire world.
  33. 33. • At Domestic Level • Marketing is providing valuable services at domestic level by promoting locally produced products, to local customers in local markets, thus is trying to bring matching effect in needs and wants of local customers. IMPORTANCE OF MARKETING
  34. 34. IMPORTANCE OF MARKETING • At Organizational Level: • Through marketing activities we always try to attract more and more customers and try to satisfy them up to the last possible limit of satisfaction. so more satisfied customers means more profit, and more chances for surviving in long run in the markets.
  35. 35. IMPORTANCE OF MARKETING • At Personal Level: Services of Marketers are also valuable at personal level as well. For example if you want to take admission in any university abroad, or you are searching job so you can visit the website or ad etc. You do not need to go there and spend more time and money. Similarly, you can also make online purchasing or students can find required data on internet.
  36. 36. Marketing • The process of building profitable customer relationships by creating value for customers and capturing value in return.

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