01. introduction to mm

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Introduction to Marketing by Tharaka Dias

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01. introduction to mm

  1. 1. THARAKA DIASMBA(USA), BBA(USA), Dip in Mgt, ACIM(UK),FAEA(Dip in AEA-UK), FinstSMM(UK), CPM(Asia),MSLIM
  2. 2. Needs - state of feltdeprivationincluding physical,2including physical,social, andindividual needs(e.g., food)AOT - www.tharakadias.com
  3. 3. Wants - form thata human needtakes as shapedtakes as shapedby culture andindividualpersonality (e.g.,pastry)3AOT - www.tharakadias.com
  4. 4. 4AOT - www.tharakadias.com
  5. 5. This is the early stage of stoneage. The only food the manknew and consumed was rawmeat. With blunt stones andmeat. With blunt stones andclubs they could kill only a fewvery small animals. Thus,everyone had to hunt toproduce a little food. Therefore,there was no surplus and noexchange5AOT - www.tharakadias.com
  6. 6. 6AOT - www.tharakadias.com
  7. 7. 7AOT - www.tharakadias.com
  8. 8. Something of ValueSomething of ValueSomething of ValueSomething of ValueAbility toAbility toAbility toAbility toAt Least TwoAt Least TwoAt Least TwoAt Least TwoPartiesPartiesPartiesPartiesNecessaryNecessaryNecessaryNecessaryDesire to Deal WithDesire to Deal WithDesire to Deal WithDesire to Deal WithDesire to Deal WithDesire to Deal WithDesire to Deal WithDesire to Deal WithOther PartyOther PartyOther PartyOther PartyFreedom to AcceptFreedom to AcceptFreedom to AcceptFreedom to Acceptor Rejector Rejector Rejector RejectAbility toAbility toAbility toAbility toCommunicate OfferCommunicate OfferCommunicate OfferCommunicate OfferNecessaryNecessaryNecessaryNecessaryConditions forConditions forConditions forConditions forExchangeExchangeExchangeExchange8AOT - www.tharakadias.com
  9. 9. The firm is focused on what it does bestLess concerned on customers’ needsImplies work towards mass production andImplies work towards mass production andlow cost9AOT - www.tharakadias.com
  10. 10. Assumes customers favor products thatoffer the most quality, performance, andfeatures.features.Implies firm should strive tocontinually upgrade product andproduct features.10AOT - www.tharakadias.com
  11. 11. Start Focus Means EndsFactory ProductionefficiencyProfits throughsales volume & low costOutput11ProductProductQualityImprovement& InnovationProfits throughbetter product featuresPRODUCTION CONCEPTPRODUCT CONCEPTAOT - www.tharakadias.com
  12. 12. Aggressive sales techniquesLess sought out items12AOT - www.tharakadias.com
  13. 13. The marketing concept states thatthe social and economicjustification for an organization’sjustification for an organization’sexistence is the satisfaction ofcustomer wants and needs whilemeeting organizational objectives.13AOT - www.tharakadias.com
  14. 14. Focuses on customer wants and needs todistinguish products from competitionIntegrates all organization’s activities to satisfycustomer wants and needsAchieves organization’s long-term goals bysatisfying customer wants and needs14AOT - www.tharakadias.com
  15. 15. Top management leadershipA customer focusA customer focusCompetitor intelligenceInter functional coordinationCustomer relationships15AOT - www.tharakadias.com
  16. 16. 16AOT - www.tharakadias.com
  17. 17. •Organized resistanceOrganized resistanceOrganized resistanceOrganized resistance17•Organized resistanceOrganized resistanceOrganized resistanceOrganized resistance•Slow learningSlow learningSlow learningSlow learning•Fast forgettingFast forgettingFast forgettingFast forgettingAOT - www.tharakadias.com
  18. 18. Less toxic productsMarketing that preserves or enhances an individual’sand society’ssociety’ssociety’ssociety’s long-term best interestsLess toxic productsMore durable productsProducts with reusable orrecyclable materials18AOT - www.tharakadias.com
  19. 19. Production ConceptProduct Concept•Consumers favor products that areavailable and highly affordable.•Improve production and distribution.•Consumers favor products that offerthe most quality, performance, and19Product ConceptSelling ConceptMarketing ConceptSocietal Marketing Conceptthe most quality, performance, andinnovative features.•Consumers will buy products only ifthe company promotes/ sells theseproducts.•Focuses on needs/ wants of targetmarkets & delivering satisfactionbetter than competitors.•Focuses on needs/ wants of targetmarkets & delivering superior valueto the society.AOT - www.tharakadias.com
  20. 20. Identifying & meeting human and social needsprofitably.profitably.Marketing is the management process whichIdentify, Anticipate and Satisfy Customerrequirements most Effectively and Efficientlywith Profits, in a Socially acceptable manor (CIM UK)20AOT - www.tharakadias.com
  21. 21. Simply put: Marketing is the delivery of customerSimply put: Marketing is the delivery of customerSimply put: Marketing is the delivery of customerSimply put: Marketing is the delivery of customersatisfaction at a profit.satisfaction at a profit.satisfaction at a profit.satisfaction at a profit.satisfaction at a profit.satisfaction at a profit.satisfaction at a profit.satisfaction at a profit.Goals: Attract new customers by promising superiorGoals: Attract new customers by promising superiorGoals: Attract new customers by promising superiorGoals: Attract new customers by promising superiorvaluevaluevaluevalue andandandandkeep and grow current customers by deliveringkeep and grow current customers by deliveringkeep and grow current customers by deliveringkeep and grow current customers by deliveringsatisfactionsatisfactionsatisfactionsatisfaction....21AOT - www.tharakadias.com
  22. 22. MarketingMarketingThe process of creating, distributing,promoting, and pricing goods, services, &ideas to facilitate satisfying exchangeideas to facilitate satisfying exchangerelationships with customers in a dynamicenvironment.CustomersCustomersThe purchasers of organizations’ products;the focal point of all marketing activities22AOT - www.tharakadias.com
  23. 23. What is the Purpose of MarketingWhat is the Purpose of MarketingWhat is the Purpose of MarketingWhat is the Purpose of Marketing????SatisfactionSatisfactionis a person’s feelings of pleasure or disappointmentresulting from comparing a product’s perceivedperformance (or outcome) in relation to his or herexpectations.23AOT - www.tharakadias.com
  24. 24. Goal: to meet or exceedcustomer expectationscustomer expectationsThe customer determines theexpectationTreat customers like humanbeings24AOT - www.tharakadias.com
  25. 25. Plays an important role in societyVital to business survival, profitsVital to business survival, profitsand growthOffers career opportunitiesAffects your life every day25AOT - www.tharakadias.com
  26. 26. ““““Marketing is too importantMarketing is too importantMarketing is too importantMarketing is too importantto be left to theto be left to theto be left to theto be left to themarketing departmentmarketing departmentmarketing departmentmarketing department.”.”.”.”--------David PackardDavid PackardDavid PackardDavid PackardHewlettHewlettHewlettHewlett----PackardPackardPackardPackard26AOT - www.tharakadias.com
  27. 27. 27AOT - www.tharakadias.com
  28. 28. Understand the organization’s missionUnderstand the organization’s missionUnderstand the organization’s missionUnderstand the organization’s missionSet marketing objectivesSet marketing objectivesSet marketing objectivesSet marketing objectivesGather, analyze, interpret “SWOT” informationGather, analyze, interpret “SWOT” informationGather, analyze, interpret “SWOT” informationGather, analyze, interpret “SWOT” informationDevelop a marketing strategyDevelop a marketing strategyDevelop a marketing strategyDevelop a marketing strategyImplement the marketing strategyImplement the marketing strategyImplement the marketing strategyImplement the marketing strategyDesign performance measuresDesign performance measuresDesign performance measuresDesign performance measuresEvaluate marketing effortsEvaluate marketing effortsEvaluate marketing effortsEvaluate marketing efforts--------change if neededchange if neededchange if neededchange if needed28AOT - www.tharakadias.com
  29. 29. Defines who may buyyour product or serviceyour product or serviceSize and potential29AOT - www.tharakadias.com
  30. 30. Select one or more target marketstarget marketstarget marketstarget marketsSet market objectivesmarket objectivesmarket objectivesmarket objectivesDevelop & maintain a marketing mixmarketing mixmarketing mixmarketing mixDevelop & maintain a marketing mixmarketing mixmarketing mixmarketing mix30AOT - www.tharakadias.com
  31. 31. CharacteristicsConsistent with company objectivesMeasurableTime specificBenefitsEnergize employeesSet standards of performance31AOT - www.tharakadias.com
  32. 32. PPPProductPPPProductPPPPlace (Distribution)PPPPromotionPPPPrice32AOT - www.tharakadias.com
  33. 33. Possession utilityPossession utilityPossession utilityPossession utilityPlace utilityPlace utilityPlace utilityPlace utilityTime utilityTime utilityTime utilityTime utilityForm utilityForm utilityForm utilityForm utilityOriental rugOriental rugOriental rugOriental rugStore has it in stockStore has it in stockStore has it in stockStore has it in stockDelivered to your homeDelivered to your homeDelivered to your homeDelivered to your homePay with your VISA cardwith your VISA cardwith your VISA cardwith your VISA card33AOT - www.tharakadias.com
  34. 34. CommunicationIndustry(a collectionof sellers)Market(a collectionof Buyers)Goods/servicesMoneyInformation34AOT - www.tharakadias.com
  35. 35. The feeling that aproduct has met orproduct has met orexceeded thecustomer’sexpectations.35AOT - www.tharakadias.com
  36. 36. Meet or exceed customer’s expectationsFocus on delighting customersFocus on delighting customersProvide solutions to customer’s problems36AOT - www.tharakadias.com
  37. 37. The name of a strategythat entails forgingthat entails forginglong-term partnershipswith customers, bothindividuals and firms.x37AOT - www.tharakadias.com
  38. 38. Attracting a new customer may beAttracting a new customer may beAttracting a new customer may beAttracting a new customer may beTEN TIMES the cost of keeping anTEN TIMES the cost of keeping anTEN TIMES the cost of keeping anTEN TIMES the cost of keeping anold customerold customerold customerold customer38AOT - www.tharakadias.com
  39. 39. Customer-oriented personnelEffective training programsEffective training programsEmpowered employeesTeamwork39AOT - www.tharakadias.com
  40. 40. 40AOT - www.tharakadias.com
  41. 41. Value creation► Accurately knowingwhat customers value► Producing to incorporatesuch valuesCommunicatethe value► Inform, convince,the value► Inform, convince,remind, motivate► Servicing thecustomers► Physical deliveryDeliver the value41AOT - www.tharakadias.com
  42. 42. ThankyouThankyou42AOT - www.tharakadias.com

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