Helps Beginners to understand Important Marketing Terminology

1. Marketing Introduction shivendumishra@gmail.com

2. Contents Definitions Definition of Marketing Management Operational Model of Marketing Management Marketing Process Marketplace, Marketspace and Metamarket Product Types of Product Classification of Product Product Level: Customer Value Hierarchy Core Marketing Concept The Marketing Mix: Four Ps SIVA Model Consumer Behavior Factor Influences Customers Five Stage Consumer Buying Process shivendumishra@gmail.com

3. Definitions shivendumishra@gmail.com

5. The aim of marketing is to identify customer needs – and to meet those needs so well that the product almost sells itself.

6. The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchangethat satisfying individual and organizational goals. -The American Marketing Association

7. Marketing is the act of connecting customers to products.

8. Marketing is a process by which an idea is converted into a product or service and putting it into hand of the final consumer, for satisfying their needs and gain profit by satisfying them.shivendumishra@gmail.com

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10. Definition of Marketing Management shivendumishra@gmail.com

11. MARKETING management Marketing Management as the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. shivendumishra@gmail.com

12. Operational Model of Marketing shivendumishra@gmail.com

13. Analyzing Need Idea to Satisfy Feasibility Analysis Yes No Developing the Actual product/Service Sale/Distribution/Other In Consumer’s Hand Measuring Satisfaction Level Dissatisfy Satisfy Complete Complete shivendumishra@gmail.com

14. The Marketing Process shivendumishra@gmail.com

15. The MARKETING PROCESS Understanding the Market Place and Customer Needs & wants Design a Customer-driven marketing Strategy Create Value for Customers and build Customer Relationships. Construct a Marketing Program that delivers superior value. Build profitable relationships and create Customer Delight. Capture value from customer to create profits and Customer Equity. Capture Value from Customers to create profits and Customer Equity. shivendumishra@gmail.com

16. Marketplace, Marketspace and Metamarket shivendumishra@gmail.com

18. What is Product shivendumishra@gmail.com

20. The end result of the manufacturing process, to be offered to the Marketplace to satisfying a need or want.

21. Product is tangible or intangible goods which any market offers for transaction purpose.Let’s look the ten types of categories which any Marketer can offer:- shivendumishra@gmail.com

22. 1.) Services Services include the work of airlines, hotels, car rental firms, barbers and beauticians, maintenance and repair people, accountants, bankers, lawyers, engineers, doctors, software programmers, management consultant and teachers. “At a fast food restaurant the customer consumes both a product and a service”. 2.) Events Major trade shows, artistic performance, global sporting events such as the Olympics and the world cup are promoted aggressively to both companies and fans. 3.) Goods Physically visible or tangible like Food product, cars, refrigerators, television. shivendumishra@gmail.com

23. 4.) Experience This kind of product allowing a customer to gain some experience for example in Walt Disney you can visit a fairy kingdom, a pirate ship, or a haunted house. 5.) Persons Artists, musicians, Ceos, physician, high profile lawyer and financers and other professionals all get help from the celebrity marketers. 6.) Places Cities, state, region and whole nations, historical places egg Tajmahal etc, compete actively to attract tourist. 7.) Properties Intangible rights of ownership of either real property or financial property. shivendumishra@gmail.com

24. 8.) Organizations Organizations actively work to build a strong, favorable, and unique image in the mind of their target publics. E.g. Sony, Apple, Samsung etc. 9.) Information Information is essentially what books, schools, and universities produces, magazines such as Road and Track, PC world and vogue supply info about the car, computer, and fashion worlds. 10.) Ideas Every market offering includes a basic idea. Charles Revson of Revelon once observed: “In the factory, we make cosmetic; in the store we sell hope”. shivendumishra@gmail.com

25. Classification OfProduct shivendumishra@gmail.com

26. Classification of Products:- The product is traditionally classified into some categories on the basis of durability, tangibility, and use. Product Classification Durability & Tangibility Consumer goods Classifications Industrial goods Classifications Nondurable Goods Durable Goods Services Material & Parts Capital item Supplies & Business Services Specialty goods Unsought goods Convenience goods Shopping goods Impulse goods Staples goods Emergency goods Installation Equipment Homogeneous Shopping goods Heterogeneous Shopping goods Click Here for Details shivendumishra@gmail.com

27. Product Level:Customer Value Hierarchy shivendumishra@gmail.com

28. Five Product Level shivendumishra@gmail.com

29. Core Marketing Concept shivendumishra@gmail.com

30. Company Orientation toward the Marketplace (Core Marketing Concepts):- 1.) The Production Concept The Production Concept is one of the oldest concepts in business, it holds that consumer will prefer product that are widely available and Inexpensive. Managers of production oriented businesses concentrate on achieving high production efficiency, low cost and mass distribution. This orientation makes sense in developing countries such as China, where the largest PC manufacturer, Lenovo and domestic appliances giant Haier take advantages of the country’s huge inexpensive labor pool to dominate the market. This concept also used where company want to increase their markets. 2.) The Product Concept The Product Concept proposes that consumers favor product that offer the most quality performance, or innovative features. Managers in these organizations focus on making superior products and improving them over time. shivendumishra@gmail.com

31. 3.) The Selling Concept The Selling Concept holds that consumers and businesses, if left alone, won’t buy enough of the organization’s products. The organizations must, therefore, undertake an aggressive selling and promotion effort. The selling concept is practiced most aggressively with unsought goods, such as insurance, encyclopedias etc. 4.) he Marketing Concept The Marketing Concept holds that the key to achieving organizational goals is being more effective than competitors in creating, delivering, and communicating superior customer value. Instead of a product-centered, “make and sell” philosophy, business shifted to a customer-centered, “sense and respond” philosophy. According to this philosophy the job is not to find the right customers for your product, but to find the right product for your customer. This Philosophy is follow by the following companies:- Dell Computers doesn’t prepare a perfect product for its target market. Rather, it provides product platform on which each person customize the features he/she desires in the computer. Hewlett Packard and Motorola have made a practice of researching latent needs through a “probe-and-learn” process. shivendumishra@gmail.com

32. 5.) The Holistic Marketing Concept The Holistic Marketing concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognizes their breadth and interdependencies. Holistic marketing recognizes” everything matters” in marketing. Holistic Marketing is thus an approach that attempts to recognize and reconcile the scope and complexities of marketing activities. Difference between The selling Concept and the Marketing concept:- shivendumishra@gmail.com

33. The Marketing Mix4Ps shivendumishra@gmail.com

34. The Marketing Mix: Four Ps:- The Marketer’s task is divides the different marketing activities and assemble fully integrated marketing program to create, communicate, and deliver value for consumer. McCarthy classified marketing activities as Marketing Mix tools of four broad kinds, which we are called ad The Four Ps of marketing: Product, Price, Place and Promotion. The four Ps represents the seller’s view of the marketing tools available for influencing buyers. Marketers make Marketing mix decision for influencing their trade channel as well as their final consumers. Once they understand these groups, marketers make or customize an offering solution, inform customers-recognize that many other sources of information also exist- set of price that offers real value, and choose places where the offering will be accessible. shivendumishra@gmail.com

35. The Marketing Mix : Four Ps shivendumishra@gmail.com

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37. Four Dimensions SIVA Model shivendumishra@gmail.com

39. Information: Where can I learn more about it?

40. Value: What is my total sacrifice to get this solution?

41. Access: where can I find it?shivendumishra@gmail.com

42. Consumer Behavior shivendumishra@gmail.com

43. Consumer Behavior Consumer behavior is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. shivendumishra@gmail.com

44. Key Factors Influences Customer shivendumishra@gmail.com

45. Factors Influences Consumers Key Influences on the Consumer shivendumishra@gmail.com

46. Five Stage Consumer Buying Process shivendumishra@gmail.com

47. Five Stage Model of the Consumer Buying Process shivendumishra@gmail.com

48. Thank You! shivendumishra@gmail.com