basic of marketing

11/07/18 Prof. Ravindra B. Gawali/BOM
PPTs/chapter1/session12
1
Learning Objectives
• To understand the Marketing definition & the
steps in Marketing Process
• To understand the Marketing functions
• Importance of understanding the customers &
the marketplace and five core marketplace
concepts
• Marketing Approaches
• Creating customer value is a key for
implementing the marketing concepts in practice

2
Generally people says
Marketingis

3
Contd…
• -Market-In ( Get into the market & see )

4
Contd..
• -Market-In ( Get into the market & see )
• shopping

5
Contd…
• Market-In ( Get into the market & see )
• shopping
• Telling & Selling

6
Contd…
• Market-In ( Get into the market & see )
• shopping
• Telling & Selling
• Advertising

7
But is it Reality
• Yes or no

8
Contd…
•
Answer is BIG
nO

9
Let us see then
• What is
•MARKETING

10
Definitions:
• “Marketing is managing
profitable customer
relationship.”

11
Definitions CONTD..
• “Marketing is a social & managerial process
by which individuals and organizations
obtain what they need & want
through creating & exchanging value with
others.”
… widely accepted & broader definition
by
Philip Kotler

12
Contd…
• Marketing is defined as the activity, set of
institutions, and processes for
creating,communicating,
delivering,and managing offerings
that have value for customers
,clients,partners,and society at large
..American Marketing association
(Definition approved in the year 2007)

13
Definitions CONTD….
• “The Management process responsible
for identifying, anticipating and
satisfying customer requirements
profitably.”
….The Chartered Instititute of Marketing
• ( The world’s largest Marketing Body )

14
Definitions CONTD..
• “Marketing is the process by which
companies create value for customers and
build strong customer relationships in
order to capture value from customers in
return.”

15
Let us see Marketing Process
A simple model of the
Marketing Process

16
•
Understand the
Marketing Place &
Customer needs and
wants

17
Understand the
Marketing Place &
Customer needs and
wants
Design a Customer
driven marketing
strategy

18
Understand the Marketing
Place & Customer needs
and wants
Design a Customer driven
marketing strategy
Construct an Integrated
Marketing program that
delivers superior customer
customer value

19
and wants
marketing strategy
customer value
Build profitable
relationships & cretae
customer delight

20
and wants
marketing strategy
customer value
Build profitable
relationships & create
customer delight
capture value from
cutomers to cretae profits
& customer equity

21
Functions of Marketing
• Marketing facilitates
PRODUCTION & CONSUMPTION
It matches
Heterogeneous supply capabilities with
heterogeneous demand

22
Functions of Marketing contd…
• Buying: means looking for & evaluating
goods & services

23
goods & services
• Selling: It involves promoting product. It
includes use of personal selling,
advertising, and other direct & mass
selling methods

24
goods & services
• Selling: It involves promoting product. It
includes use of personal selling,
advertising, and other direct & mass
selling methods
• Transporting: means movement of goods
from one place to another

25
• Buying: means looking for & evaluating goods &
services
• Selling: It involves promoting product. It includes
use of personal selling, adverstising, and other
direct & mass selling methods
• Transporting: means movement of goods from
one place to another
• Storing: means holding goods until customers
hold them

26
• Buying: means looking for & evaluating goods &
services
• Selling: It involves promoting product. It includes
use of personal selling, advertising, and other
direct & mass selling methods
• Transporting: means movement of goods from
one place to another
• Storing: means holding goods until customers
hold them
• Standardization & grading: involves sorting
products according to size & quality

27
• Buying: means looking for & evaluating goods & services
• Selling: It involves promoting product. It includes use of
personal selling, advertising, and other direct & mass
selling methods
• Transporting: means movement of goods from one place
to another
• Storing: means holding goods until customers hold them
• Standardization & grading: involves sorting products
according to size & quality
• Financing: provides necessary cash & credit to
produce, transport, store, promote, sale & buy
products

28
• Selling: It involves promoting product. It includes use of
personal selling, adverstising, and other direct & mass
selling methods
• Transporting: means movement of goods from one place
to another
• Standardization & grading: involves sorting products
according to size & quality
• Financing: provides necessary cash & credit to produce,
transport, store, promote, sale & buy products
• Risk Taking: involves bearing the uncertainties that
are part of the marketing process

29
• Selling: It involves promoting product. It includes use of personal
selling, adverstising, and other direct & mass selling methods
• Transporting: means movement of goods from one place to another
• Standardization & grading: involves sorting products according to
size & quality
• Financing: provides necessary cash & credit to produce, transport,
store, promote, sale & buy products
• Risk Taking: involves bearing the uncertainties that are part of the
marketing process
• Marketing Information Function: It involves the collection,
analysis & distribution of all the information needed to plan,
carry out & control marketing activities.

30
Functions of Marketing contd…• Buying: means looking for & evaluating goods & services
• Selling: It involves promoting product. It includes use of personal selling, adverstising,
and other direct & mass selling methods
• Transporting: means movement of goods from one place to another
• Standardization & grading: involves sorting products according to size & quality
• Financing: provides necessary cash & credit to produce, transport, store, promote,
sale & buy products
• Risk Taking: involves bearing the uncertainties that are part of the marketing process
• Marketing Information Function: It involves the collection, analysis & distribution of all
the information needed to plan, carry out & control marketing activities.
• Producers, consumers and marketing specialists
sometimes handle the some of the marketing
functions. Some marketing specialists like Ad
agencies, market research firms, IT firms etc may
develop to fill market needs, there is a responsibility
for performing the marketing functions can be
shifted & shared in a variety of ways.

31
Core Concepts of Marketing:
Need:
Need describe basic human
requirements.
It’s state of felt deprivation.

32
Want:
• the need becomes wants when
they are directed to specific
objects that might satisfy the needs.

33
Demands:
•
are wants for specific products
backed by an ability to
pay.
•

34
Product or offerings :
• A product is any offering that can
satisfy need or wants.
• Bundle of attributes which is having want
satisfying capacity is called products.
• Market offerings: Offerings may be
goods or services.

35
Value:
•
It is ratio between what the customer
gets & what he gives.
• Value = Benefits = Functional benefits +Emotional Benefits
• Costs Monetary cost + time costs + energy costs +
• psychic costs
•

36
Exchange:
•
The act of obtaining a desired
object from someone by offering
something in return

37
Customer satisfaction:
is a
function of the closeness between the buyer’s expectations & the
product’s perceived performance.
3 situations :
• 1.If performance falls short of expectations, the customer is
disappointed
• 2.If it meets expectations, the customer is satisfied
• 3.If it exceeds expectations, the customer is delighted
.

38
Marketing Approaches-what is it?
.
• What philosophy should guide the
company’s marketing efforts?
• How the company orients
themselves towards the
marketplace?
These questions decides……
•

39
Marketer’s decides their approach
of conducting marketing activities in
their firm
•
• Production concept holds that
consumers will prefer products that
are widely available &
inexpensive

40
Marketing Approaches contd..
• Product concept holds that consumers will
favor those products that offer the
most quality, performance or
innovative features
•

41
• Selling concepts hold that consumers
& businesses, if left alone, will
ordinarily not buy enough of the
organizations products. The
organization must, therefore, undertake an
aggressive selling & promotion efforts.
•

42
• Marketing concepts holds that the key to
achieving the organizational goals
consists of the companies being more
effective than the competitors in
creating, delivering and
communicating the customer value
to it’s chosen target market

43
Societal Marketing concept
• The Societal Marketing concepts holds
that the organization’s task is to
determine the needs, wants & interests
of target markets and to deliver the
desired satisfaction more
effectively & efficiently than
competitors in a way that preserves or
enhances the consumers & society’s
welfare.

44
Relationship Marketing
• Relationship Marketing aims to build
mutually satisfying long term
relationships with key constituents
in order to earn & retain their business.

45
Integrated Marketing
• The marketer’s task is to devise marketing
activities and assemble fully integrated
marketing programs to create,
communicate & deliver value for
consumers.
• According to McCarthy these marketing
activities can be classified in the form of 4P’s
of marketing i.e. Price, Place, and
Promotion & Product.

46
Internal Marketing
• ensures that everyone in the
organization embraces appropriate
marketing principles especially senior
management.
• Inetrnal Marketing is the task of hiring,
training and motivating able employees
who wants to serve customer well.

47
Performance marketing
• helps to understand the returns to the
business from marketing activities
and programs, as well as addressing
broader concerns and their legal, ethical,
social & environmental effects.

48
Socially responsible marketing
• The effects of the marketing clearly
extend beyond the company
and the customer to society as
a whole. Marketers must carefully
consider their role in broader terms, and
the ethical,social,environmental & legal
context of their activities

49
HOLISTIC MARKETING
DIMENSIONS:
The Holistic Marketing concept is based on
the design, development, and
implementation of marketing programs,
processes and activities that recognizes
their breadth and interdependencies.
• It recognizes that “Everything Matters” in
marketing and that a broad, integrated
perspective is often necessary
– Let us see the diagram…..

50
Internal
Marketing
Relationship
Marketing
Integrated
Marketing
Performance
Marketing
Holistic
Marketing
Holistic Marketing -Diagram

51
Marketing Myopia contd..
•What it is?

52
Marketing Myopia contd…
• It is shortsightedness about the
market conditions.
• There is lack of understanding about the
market realities i.e. about the needs/demands
of the customers and his choices, creates
the situation which is nothing but marketing myopia.
In common man’s language it can be called as “Building
Castles in the airs”

53
Marketing Myopia contd…
•
Naturally ?Is in which
situations/Marketing Approaches
it’s observed
Can u tell me……..

54
Yes, it's correct
• Product approach
• Production approach
• Sales Approach
It’s observed.
How ? Can u explain

55
How to overcome this Myopia?
• That’s why MARKETING Approach
Get developed.
In ur mind there is ?
How marketing concepts is superior ?
Yeh..?
let us see diagram

56
The Marketing ConceptThe Marketing Concept
Profit
Customer
Satisfaction
Total Company
Effort
The
Marketing
Concept

57
• Customer Centric i.e. customer focus
• Competition oriented
• Outside in approach
• Market & demand orientation
• FUTURISTIC ORIENTATION & LONG TERM
DIRECTION
• Customer satisfaction is the key
• Survival, growth along with returns in terms of
profits can be ensured
• Vibrant, dynamic & responsive organization
• Improves standard of living of the society at large
• What is conclusion ?

58
Why Marketing Philosophy is
Superior?-A CONCLUSION
• Customer is King. He is the reason for the
Business.
• Organization survival, growth, return &
ultimately success depends upon HIM
• How the every activities designed &
implemented at organization level serve
customers better than the competitors

59
Selling Vs Marketing
•Are u ready
to
•see the DIFFERENCE

60
1. Focus on needs of seller Focus on needs of buyer
2. Inside out approach Outside in approach
3. Narrow term Broader & comprehensive terms
4.
Selling starts with seller
and is always
preoccupied with the
needs of the seller
Marketing starts with buyer & focuses
constantly on the needs of buyer
5.
Emphasize on the
saleable surplus available
within the corporation
Seeks to convert customer needs into
products
6.
Views business as a
“Goods creating Process”
“Views business as a customer satisfying
7. Cost determines the price Consumers determine the price
8.
Emphasize on somehow”
selling”
Emphasize on” Integrated Marketing”
9.
Production is central
function
Marketing is central function which
revolves around customer needs

61

11/07/18 Prof. Ravindra B.
Gawali/BOM
62
•?PLEASE

63
• “Benchmark means ______‟
a. Benches for customers to sit
b. Benches for salesmen to sit
c. Products displayed on a bench
d. Set standards
e. All of the above
• Answer

• Home loans are granted to ___
a. Individuals
b. Institutions
c. Builders
d. All of these
e. None of these
64

• The meaning of “Conversion” in sales
is
a. Designing new products
b. Converting Purchasers into sellers
c. Converting sellers into purchasers
d. Converting prospective customers into
purchasers
e. Conversion of religion
•
65

• A “Call in Marketing language means‟
_______
a. Calling On a salesperson
b. Calling on a customer
c. Making a phone call
d. Telemarketing
e. None of these
• Answer
•
66

• A Safe Deposit Locker can be
canvassed among
a. All Existing account holders
b. Persons below poverty line
c. Students
d. Jewelers
e. ATM Cardholders
•
•
67

• “Value Added Services” implies
a. Additional Knowledge of marketing staff
b. Service beyond normal Hours
c. Service with extra facilities
d. Marketing Agencies
e. Overtime work
• Answer
•
68

• Optimum Results in marketing are
possible through
a. Increased Production
b. More number of Products
c. More sales staff
d. Motivated Staff
e. More ATMs
• Answer
•
69

• Mutual Fund business from existing
customers can be canvassed through
a. Coercion
b. Cross-Selling
c. Internal Marketing
d. Outdoor Marketing
e. Road-Shows
• Answer
•
70

• Financial Planning is required when
a. One has no income
b. One is flushed with funds
c. One has no expenses to incur
d. One is illiterate
e. Income level is insufficient to meet the
expenses
• Answer
•
71

• The sales process begins with
a. Customer Identification
b. Lead Generation
c. Sales Presentation
d. Sales closure
e. Sales meet
• Answer
–
72

73
• Market Segmentation means
a. segmenting the salesmen
b. segmenting the employees
c. segmenting the customers as per their
needs
d. segmenting the products
e. All of these
• Answer
•

• A “Target Group means‟
a. a group of sellers
b. a group of buyers
c. a group of products
d. a group of persons at whom sales
should be focused
e. all of these
• Answer
•
74

• Market information means
a. knowledge of industries
b. knowledge of households
c. knowledge of peers
d. knowledge of customers tastes‟
e. All of these
• Answer
• e. All of these
75

• Digital Marketing is a way of
a. Direct Marketing
b. Indirect Marketing
c. A strategy of DSAs
d. All of these
e. None of these
• Answer
• a. Direct Marketing
76

• Sales forecasting involves study of
a. Proper selling price
b. Sales planning
c. Distribution outlet
d. Consumer needs and demands
e. All of the above
• Answer
•
77

• Market Research is needed for
a. Choosing the right sales person
b. Choosing the right products
c. Making proper marketing decisions
d. Deciding the sales incentives
e. None of these
• Answer
•
78

• Marketing is termed as successful,
when
a. There is a rise in the number of
salesmen
b. There is no need for post-sales services
c. There is no need to give discounts
d. There is rise in sales through more
clients
e. Marketing is an ongoing process and
hence, can never be successful
• Answer
• d. There is rise in sales through more11/07/18 Prof. Ravindra B. Gawali/BOM
79

• Market Segmentation helps in
a. Identifying the target group
b. Focused marketing
c. Improved lead generation
d. Only (a) and (b)
e. All (a), (b) and (c)
• Answer
• e. All (a), (b) and (c)
80

• Marketing Strategy means
a. Ideas for new employment
b. Old techniques of selling
c. Techniques for improving marketing
activities
d. Techniques for increasing production
e. Networking
• Answer
•
81

• Digital marketing is similar to
a. Online marketing
b. Cold calling
c. Web designing
d. Market forecast
e. Outdoor marketing
• Answer
•
82

• DSA stands for
a. Delivery Staff Agency
b. Direct Selling Agency
c. Distributors and Supply Agency
d. Driving Sales Ahead
e. Direct Sales Authority
• Answer
•
83

• Direct Marketing means
a. Advertisements
b. Banners
c. Face-to-face selling
d. Selling by all staff
e. Achieving targets
• Answer
•
84

• Market share means
a. Market price of shares
b. Sensex
c. Share market
d. Share of business among peers
e. Market volatility
• Answer
•
85

• The ultimate aim of Marketing is to
provide
a. More business to the Company
b. More profit
c. More staff
d. More production
e. More products
• Answer
•
86

• _________is the process of evaluating
each segment’s attractiveness and
selecting one or more segments
a. Targeting
b. Segmenting
c. Positioning
d. Distribution
• Answer
•
87

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