Principles of marketing mba 1st sem by babasab patil (karrisatte)

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Principles of marketing mba 1st sem by babasab patil (karrisatte)

  1. 1. Principles of Marketing Presented By:- Babasab Patil 2/13/2014Babasabpatilfreepptmba.com1
  2. 2. Module : I Introduction to Marketing 2/13/2014 Babasabpatilfreepptmba.com 2
  3. 3. What is Marketing? Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others 2/13/2014 Babasabpatilfreepptmba.com 3
  4. 4. In other words: Marketing is creating, Developing, Communicating and Delivering goods and services to the ultimate customer to satisfy their need and reaching organizational goal profitably 2/13/2014 Babasabpatilfreepptmba.com 4
  5. 5. Definition According To AMA: “Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationship in ways that benefit the organization and stake-holders” 2/13/2014 Babasabpatilfreepptmba.com 5
  6. 6. Importance of Marketing “Change or Die” 2/13/2014 Babasabpatilfreepptmba.com 6
  7. 7. Ex: 2/13/2014 Babasabpatilfreepptmba.com 7
  8. 8. Ex: 2/13/2014 Babasabpatilfreepptmba.com 8
  9. 9. Ex:  Sony Walkman, - completely changed the way people listened to music.  Gillette Mach III 2/13/2014 Babasabpatilfreepptmba.com 9
  10. 10. Ex: Tile: Search My Stuffs 2/13/2014 Babasabpatilfreepptmba.com 10
  11. 11. Ex: Apple iphone 5S and 5C 2/13/2014 Babasabpatilfreepptmba.com 11
  12. 12. Ex: Ford Ecosportz 2/13/2014 Babasabpatilfreepptmba.com 12
  13. 13. What is Marketed?  Goods--------------- ?  Services------------- ?  Events---------------  Experiences ------- (Wonder la)  Persons-------------- ?  Places---------------- (Tourism)  Properties----------- ?  Organizations------ ? (ads in the CSR sense, Philips‟ tagline, „let‟s make things better‟  Information---------- ?  Ideas (Eg Charles Revson of Revlon said : in the factories we make cosmetics, in the shops we sell hope)2/13/2014 Babasabpatilfreepptmba.com 13
  14. 14. Who Markets? Marketers and Prospects 2/13/2014 Babasabpatilfreepptmba.com 14
  15. 15. Who are the Key Customer Markets  Consumer Market  Business market  Global Market  Non Profit Organizations and  Governmental Markets 2/13/2014 Babasabpatilfreepptmba.com 15
  16. 16. How Business And Marketing Are Changing Changing Technology Globalization Deregulation Privatization Customer Empowerment Customization Heightened Competition Industry Convergence Retail Transformation Disintermediation-Flipkart, eBay etc2/13/2014 Babasabpatilfreepptmba.com 16
  17. 17. Core Marketing Concepts 1. Needs, Wants, and Demands 2. Products and Services 3. Segmentation, Target Markets, and Positioning 4. Offerings and Brands 5. Value and Satisfaction 6. Marketing Channels 7. Supply Chain 8. Competition 9. Market Environment 10. Marketing Planning 2/13/2014 Babasabpatilfreepptmba.com 17
  18. 18. Company Orientation Towards the Marketplace The Production Concept The Product Concept The Selling Concept The Marketing Concept The Societal Concept 2/13/2014 Babasabpatilfreepptmba.com 18
  19. 19. Production concept :  Concentration on high production efficiency and wide distribution coverage  Demand is assumed  Sales taken for granted if product is made available cheaply  Seller‟s market – manufacturing takes precedence over marketing 2/13/2014 Babasabpatilfreepptmba.com 19
  20. 20. Product concept  Focus on quality, performance, features  Company concentrates on making good quality products and improving them over time  Emphasis changed from price to features or value Still passive 2/13/2014 Babasabpatilfreepptmba.com 20
  21. 21. Selling concept  Left to itself, no sale, so aggressive selling required  Active engagement with the market  Both soft sell and hard sell 2/13/2014 Babasabpatilfreepptmba.com 21
  22. 22. Marketing concept :  Key to achieving organizational goal is matching needs between needs of target market and effective and efficient delivery  Satisfactory transaction 2/13/2014 Babasabpatilfreepptmba.com 22
  23. 23. Holistic Marketing concept  „Everything matters with marketing‟  Development, design and implementation of marketing programs, processes and activities, their scope and interdependency 2/13/2014 Babasabpatilfreepptmba.com 23
  24. 24. Holistic Marketing 2/13/2014 Babasabpatilfreepptmba.com 24
  25. 25. Social Responsibility Marketing  Marketing responsibility beyond the customer to encompass society as a whole 2/13/2014 Babasabpatilfreepptmba.com 25
  26. 26. 2/13/2014 Babasabpatilfreepptmba.com 26
  27. 27. What is  Marketplaces  Marketspaces  Metamarkets 2/13/2014 Babasabpatilfreepptmba.com 27
  28. 28. Shifts in Marketing Management  Successful companies- change marketing with changes in marketplace/ Marketspace  From, „Marketing does Marketing‟ to „everyone does Marketing‟  From product to customer segmentation  From in-house manufacturing to outsourcing  Many vendors to a few biz partners  From old marketing positions to discovering new ones 2/13/2014 Babasabpatilfreepptmba.com 28
  29. 29.  From tangible assets to intangible properties  From brand-building thru advertising to brand- building thru performance, value creation and integrated communication  From physical to online  From mass to niche  From profit to customer lifetime value 2/13/2014 Babasabpatilfreepptmba.com 29
  30. 30.  From market share to customer share  From local to „global‟  From financial scorecard to marketing scorecard  From share-holders to stake-holders 2/13/2014 Babasabpatilfreepptmba.com 30
  31. 31. Marketing Management Tasks  Development Marketing Strategies and Plans  Capturing Marketing Insights  Connecting With Customer  Building The Market Offering  Delivering Value  Commutation Value  Creating Long-Term Growth 2/13/2014 Babasabpatilfreepptmba.com 31
  32. 32. 32 Selling Versus Marketing Production Capacities Manufacturing Products Aggressive Sales Efforts Aim at Customer as a Target Potential Marketing Opportunities Production Capabilities Market Products/ Services Actual Wants/ Needs of Potential Customers Marketing Program Customer 2/13/2014 Babasabpatilfreepptmba.com
  33. 33. 33 Marketing Orientation  Customer Focus - Understand needs, create value, and serve to assure customer satisfaction, with inter-functional teamwork  Competitor Focus - Seek advantages relative to competitors, monitor behavior and respond to strategic moves (foes or friends)  Profit Focus - Manage to assure short- and long- term profitability 2/13/2014 Babasabpatilfreepptmba.com
  34. 34. 34 Marketing Process Define Problem Analyze Market (Environment, Competition, Strength, Weakness, Needs/Interests of Defining Segments Select Segment (s): Profitability, Fit with Company/Product/Market Develop Marketing Program (Set strategies for Product, Pricing, Promotion and Distribution) Improve Program Evaluate Program 2/13/2014 Babasabpatilfreepptmba.com
  35. 35. 2/13/2014 Babasabpatilfreepptmba.com 35
  36. 36. Industry (a collection of sellers) Market (a collection of Buyers) Goods/services Money Communication Information2/13/2014Babasabpatilfreepptmba.com 36
  37. 37. Customers Front-line people Middle Management Top Management Traditional Organization Chart 2/13/2014 Babasabpatilfreepptmba.com 37
  38. 38. Customer-Oriented Organization Chart Customers Front-line people Middle management Top manage- ment 2/13/2014 Babasabpatilfreepptmba.com 38
  39. 39. Relationship marketing Enduring relationships with all key parties,- suppliers, customers, distributors and other partners Not just CRM but PRM Objective,- to build a unique asset called marketing network, profits will follow 2/13/2014 Babasabpatilfreepptmba.com 39
  40. 40. Supply chain 1.Raw materials to components to finished product to buyer 2. Supply chain represents a value delivery system 3. Each company on the value chain captures only a small portion of the value generated by the supply chain 2/13/2014 Babasabpatilfreepptmba.com 40
  41. 41. Competition 1. Others with similar rival offerings 2. Substitutes 2/13/2014 Babasabpatilfreepptmba.com 41
  42. 42. Marketing Environment 2/13/2014 Babasabpatilfreepptmba.com 42
  43. 43. Common Marketing Problems 2/13/2014 Babasabpatilfreepptmba.com 43
  44. 44. How can we measure the effectiveness of an add campaign, of Public Relations, of a promotion, etc…? 2/13/2014 Babasabpatilfreepptmba.com 44
  45. 45. How can we satisfy our customers and build brand loyalty? 2/13/2014 Babasabpatilfreepptmba.com 45
  46. 46. Babasabpatilfreepptm ba.com How can differentiate our offer from our competition? 2/13/2014 46
  47. 47. How should we react to competitors? 2/13/2014 Babasabpatilfreepptmba.com 47
  48. 48. How can we identify and choose profitable market segments? 2/13/2014 Babasabpatilfreepptmba.com 48
  49. 49. Maslow’s Hierarchy of needs 2/13/2014 Babasabpatilfreepptmba.com 49
  50. 50. Thank you 2/13/2014 Babasabpatilfreepptmba.com 50

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