Marketing lec-1


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Marketing lec-1

  1. 1. Principles of Marketing
  2. 2. Today’s Topics Introduction-An overview of marketing Road map
  3. 3. Introduction of Marketing
  4. 4. Music to a Marketer’s Ears“They’re the best.”“I always eat there.”“I only fly with that airline.”“I buy my electronics at that store.”“I will prefer to go in that school.”
  5. 5. g Catalogu tions tisin es P romoAdver Co Sa l up es on Public srelations What is Marketing, er ce anyway? mmE-co De livery rviceRetai Se Spon ling so r s h Sho pping ip s Pricing ch a n n el s mail RePa c k Bi l l b D irect sea aging oard rch s
  6. 6. Marketing: DefinitionThe process of creatingconsumer value in the form ofgoods, services, or ideas thatcan improve the consumer’slife.
  7. 7. What is marketing ?More than selling and advertisingIdentifying and satisfying customersneedsRange of activities (marketing mix –4P’s)
  8. 8. What is Marketing?Learning to make what you can sell vs. selling what you can make. Identifying and satisfying customer needs and wants.
  9. 9. Peter Drucker Goal of all organizations is to gain and retain customers Innovation and marketing are the only two ways to achieve the goal “The rest only adds cost”
  10. 10. The AMA managerial definition: “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.”
  11. 11. Marketing Involves having the Right Product available in the Right Place at the Right Time and making sure that the customer is Aware of the Product .
  12. 12. Marketing
  13. 13. Product Price Macro Economic ConditionsPlacement Promotion
  14. 14. Simple Marketing System Communication Product/ServiceProducer/Seller Consumer Money Feedback
  15. 15. Marketing’s 4 P’s Product Price Placement Promotion
  16. 16. Evolution of Marketing Product Orientation: Product Price Sales Orientation: Placement Promotion Marketing Orientation 4 P’s of Marketing Macro Economic Condition
  17. 17. Marketing: Comprehensive Defination“Marketing is a continuous process ofassessment of needs & requirements ofcustomers, translating these requirements into aproduct, deciding a reasonable price, placing inthe right market to the right customers, promotingas this is the best choice amongst all, offering ata right time of minimum political, legal &economic crises for the value creation &satisfaction of customers.”
  18. 18. Marketing Focus States that the public, the customer, and the client determine the marketing program. Emphasizes creating and maintaining relationships with customers. Finally applies for both non-profit organizations and profit- oriented businesses.
  19. 19. Marketing Includes...Personal sellingAdvertisingMaking products available in storesMaintaining inventories etc
  20. 20. What Can Be Marketed?Goods PlacesServices PropertiesExperiences OrganizationsEvents InformationPersons Ideas
  21. 21. How Does anOrganization Create a Customer?
  22. 22.  Identifying customer needs Designing goods and services that meet those needs Communicating information about those goods and services to prospective buyers
  23. 23. Cont… Making the goods or services available at times and places that meet customers’ needs Pricing goods and services to reflect costs, competition, and customers’ ability to buy Providing for the necessary service and follow-up to ensure customer satisfaction after the purchase
  24. 24. How is Marketing Done?
  25. 25. Marketers Develop and Implement a Marketing Plan Based on the Following Information: Organization’s Strengths Organization’s Strengths and Weaknesses and Weaknesses Opportunities and Threats to the Opportunities and Threats to the Organization in the Marketplace Organization in the MarketplaceOrganization’s Overall ObjectivesOrganization’s Overall Objectives
  26. 26. Peter F. Drucker Said:If we want to know what a business is, we have tostart with its purpose. And its purpose must lieoutside the business itself. In fact, it must lie insociety since a business enterprise is an organ ofsociety. There is one valid definition of businesspurpose: To create a customer.
  27. 27. Reasons for Studying Marketing
  28. 28. Costs CareersAbout 50% of total About 33 to 45% ofproduct costs are the work force holdmarketing costs. marketing positions. Why Study Marketing ? Contributions to Society Contributions to Marketing decisions affectIndividual Organizations the lives of individualCritical to the success consumers and society asof a firm. a whole.
  29. 29. Why Study Marketing?Plays an important role insocietyVital to businessOffers outstanding careeropportunitiesAffects your life every day
  30. 30. Marketing isEverywhere in Your Life
  31. 31. What do Marketers Think About?
  32. 32. Ex: Open a Book shop in Campus Is there a need? Who is my target market? What is my product? How can I produce and deliver a “product” better than my competitors? How will I promote my product? How can I insure customer loyalty?
  33. 33. Marketing is....Getting the rightproducts to the rightpeople at the right priceand at the right placewith the right promotion& in the right time.
  34. 34. Marketing is a social andmanagerial process by whichindividuals and groups obtain whatthey need and want throughcreating, offering and exchangingproducts of value with others. Kotler 1994
  35. 35. More simply:Marketing is the delivery ofcustomer satisfaction at a profit.
  36. 36. Simple Questions, Hard Answers•Who are our customers?•What important & uniquebenefits do we provide?•Are these benefits sustainable?
  37. 37. t op s ’s r e t e e hL t i
  38. 38. Recommended Books Fundamentals of Marketing by Stanton, Etzel and Walker Principles of Marketing by Philip Kotler and Gary Armstrong Marketing by Joel R. Evans and Barry Berman
  39. 39. Conclusion