Introduction to Marketing Management

1. Marketing Management
LESSON 1

2. What is marketing
Marketing is about identifying and
meeting human and social needs

3. What is marketed?
1. Goods
2. Services
3. Events
4. Experiences
5. Persons
6. Places
7. Properties
8. Organizations
9. Information
10.Ideas

4. Core Marketing Concepts
NEEDS, WANTS, DEMANDS

5. Types of Needs
1. STATED NEEDS
- The consumer wants an inexpensive car
2. REAL NEEDS
- The consumer wants a car whose operating
costs, not initial price, is low
- ex. Fuel efficient

6. Types of Needs
3. UNSTATED NEEDS
- The customer expected good service
from the dealer
4. DELIGHT NEEDS
- The customer would like the dealer to
include an onboard GPS navigation system

7. Types of Needs
5. SECRET NEEDS
- The customer wants friends to see him or
her as a savvy consumer

8. Kinds of Demands
1. NEGATIVE DEMAND
- Consumers dislike the product and may even pay to avoid it
… services like dental treatments, insurance policies face a lot of negative demand because people rather
than going to a doctor for treatment or taking an insurance policy, prefer taking preventive measures to
avoid buying these services.
2. NONEXISTENT DEMAND
- Consumer may be unaware of or uninterested in the product
… Many educational and computer courses which are not in demand by the market are one such example
of non-existing demand.
… mobile phones made by Blackberry and HTC which are not in demand anymore, still, the companies
keep on producing them.

9. Kinds of Demands
3. LATENT DEMAND
- Consumers may share a strong need that cannot be satisfied by an
existing product
… The best example for studying this type of demand is by studying the evolution of smartphones or mobile phones.
Every time a new model of a mobile phone was launched, it tackled a new need of the consumer, whether it would be
sending messages, talking face to face via video call, shopping online through mobiles at one place only and many more.
But there are still many needs that do not have a solution, even though the needs are very important.
4. DECLINING DEMAND
- Consumers begin to buy the product less frequently or not at all
… It depends on product to product. It may be due to a new invention in that particular product field, bad brand marketing
or decreasing the quality of the product.

10. Kinds of Demands
5. IRREGULAR DEMAND
- Consumers purchases vary on seasonal, monthly,
weekly, daily or even hourly basis
… Air conditioners, seasonal clothes are the best day to day things where this irregular
demand is seen.
6. FULL DEMAND
- Consumers are adequately buying all products put
into the marketplace
…The best examples for this type of demand are the demand for smartphones like MI,
OnePlus, etc. The products of these brands get sold out whenever they launch a new
model.

11. Kinds of Demands
7. OVERFULLL DEMAND
- Demand is more but supply is less
… This type of demand can usually be seen in occasional products like the cement industry where the demand is
occasional but very high.
These industries have limited manufacturing power due to which there is a chance of consumers switching the
brand which results in loss of both market share and brand equity.
So, these are the main types of demand or classification of demand that help a marketer for demand forecasting
and managing the demand every time.
There should be fast and accurate decision making by the marketer as the challenges and effects of these types of
demands can both ruin the company’s reputation as well as take it to the sky heights.
8. UNWHOLESOME DEMAND
- Consumers may be attracted to products that have
undesirable social consequences

13. Marketing in an Age of Turbulence
1. Secure your market share from core
customer segments
2. Push aggressively for greater market share
from competitors
3. Research customers more now, because
their needs and wants are in flux

14. Marketing in an Age of Turbulence
4. Minimally maintain, but seek to increase,
your marketing budget
5. Focus on all that’s safe and emphasize core
values
6. Drop programs that aren’t working for you
quickly

15. Marketing in an Age of Turbulence
7. Don’t discount your best brands
8. Save the strong, lose the weak

16. 10 Commandments of Marketing
1. The company segment the market, chooses
the best segments, and develop a position in
each chosen segment.

17. 10 Commandments of Marketing
2. The company maps its customers’ needs,
perceptions, preferences, and behaviour and
motivates its stakeholders to about serving and
satisfying the customers

18. 10 Commandments of Marketing
3. The company knows its major competitors
and its strengths and weaknesses

19. 10 Commandments of Marketing
4. The company builds partners out of its
stakeholders and generously rewards them

20. 10 Commandments of Marketing
5. The company develops systems for
identifying opportunities, ranking them, and
choosing the best ones.

21. 10 Commandments of Marketing
6. The company manages a marketing planning
system that leads to insightful long-tern and
short-term plans

22. 10 Commandments of Marketing
7. The company exercises strong control over its
product and service mix

23. 10 Commandments of Marketing
8. The company builds strong brands by using
the most cost-effective communication and
promotion tools

24. 10 Commandments of Marketing
9. The company builds marketing leadership
and a team spirit among its various departments

25. 10 Commandments of Marketing
10. The company constantly adds technology
that gives it a competitive advantage in the
marketplace

26. Modern Marketing Management 4Ps
P – People
P – Processes
P – Programs
P – Performance

27. Marketing Management Tasks
• Developing marketing strategies and tasks
• Capturing marketing insights
• Connecting with customers
• Building strong brands
• Shaping the market offerings
• Delivering value
• Communicating value
• Creating successful long-term growth

28. ASSIGNMENT
“DOES MARKETING CREATE OR SATISFY
NEEDS”
Marketing has often been defined in terms of
satisfying customers’ needs and wants. Critics,
however, maintain that marketing goes beyond that
and creates needs and wants that did not exist
before. They feel marketers encourage consumer
to spend more money than they should on goods
and services they do not really need.

29. ASSIGNMENT
Take a position:
Marketing shapes consumer needs and
wants
VS.
Marketing merely reflects the needs and
wants of consumer