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Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
Marketing lec-1
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Marketing lec-1

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Transcript

  • 1. Principles of Marketing
  • 2. Today’s Topics Introduction-An overview of marketing Road map
  • 3. Introduction of Marketing
  • 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. 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. Marketing: DefinitionThe process of creatingconsumer value in the form ofgoods, services, or ideas thatcan improve the consumer’slife.
  • 7. What is marketing ?More than selling and advertisingIdentifying and satisfying customersneedsRange of activities (marketing mix –4P’s)
  • 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. 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. 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. 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. Marketing
  • 13. Product Price Macro Economic ConditionsPlacement Promotion
  • 14. Simple Marketing System Communication Product/ServiceProducer/Seller Consumer Money Feedback
  • 15. Marketing’s 4 P’s Product Price Placement Promotion
  • 16. Evolution of Marketing Product Orientation: Product Price Sales Orientation: Placement Promotion Marketing Orientation 4 P’s of Marketing Macro Economic Condition
  • 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. 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. Marketing Includes...Personal sellingAdvertisingMaking products available in storesMaintaining inventories etc
  • 20. What Can Be Marketed?Goods PlacesServices PropertiesExperiences OrganizationsEvents InformationPersons Ideas
  • 21. How Does anOrganization Create a Customer?
  • 22.  Identifying customer needs Designing goods and services that meet those needs Communicating information about those goods and services to prospective buyers
  • 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. How is Marketing Done?
  • 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. 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. Reasons for Studying Marketing
  • 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. Why Study Marketing?Plays an important role insocietyVital to businessOffers outstanding careeropportunitiesAffects your life every day
  • 30. Marketing isEverywhere in Your Life
  • 31. What do Marketers Think About?
  • 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. Marketing is....Getting the rightproducts to the rightpeople at the right priceand at the right placewith the right promotion& in the right time.
  • 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. More simply:Marketing is the delivery ofcustomer satisfaction at a profit.
  • 36. Simple Questions, Hard Answers•Who are our customers?•What important & uniquebenefits do we provide?•Are these benefits sustainable?
  • 37. t op s ’s r e t e e hL t i
  • 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. Conclusion

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