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  1. 1.  RAVIKEERTHI J.V.  Associate Professor  BE(Elect) RV College, Bangalore MBA :Canterbury Christ Church University England DIM & DHRM: IGNOU MPhil: Vinaya Mission University  Age 48 Years
  2. 2. What is Marketing? Who’s responsibility is it?
  3. 3. Marketing is Everything  Noted marketing expert Regis McKenna expressed in his influential Harvard Business Review article "Marketing is Everything.” He writes, it must be part of everyone's job description, from the receptionists to the Board of Directors."
  4. 4. Marketing management is a business discipline focused on the practical application of marketing techniques and the management of a firm's marketing resources and activities.
  5. 5. Management guru Peter Drucker, write’s: "Because the purpose of business is to create a customer, the business enterprise has two--and only these two--basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business."
  6. 6. Different definitions of marketing “The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time” “The achievement of corporate goals through meeting and exceeding customer needs better than the competition” “The management process that identifies, anticipates and supplies customer requirements efficiently and profitably” “Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges”
  7. 7. Which definition is right? They all are!! In short, Marketing is about meeting the needs and wants of customers Profitablly
  8. 8. Maslow's hierarchy of needs Represented as a pyramid
  9. 9. What is marketed Marketers are involved in marketing 10 types of entities. 1. Goods 2. Services 3. Events 4. Experiences 5. Persons 6. Places 7. Properties (real estate, financial) 8. Organisations 9. Information 10. Ideas
  10. 10. 1. Goods : Physical goods like cars, trucks, televisions,machine tools, chemicals, cosmetics, refrigerators constitute a bulk of manufacturing and marketing activity in any economy. These are also marketed through internet channels these days. 2. Services: As economies advance, services marketing increases. Services include airlines, hotels, lawyers, consultants, rental firms, barbers, accountants, engineers, doctors, architects.
  11. 11. 3. Events : Marketers promote time based events such as trade shows, artistic performances, sporting events. Olympic, World Cup are some of the events that are marketed. 4. Experiences: An amusement park, theme restaurant, water park, tourist tours are examples of items that are marketed 5. Persons: Celebrity marketing is a big business today. Managing advertisement contracts, managing PR for celebrities, are examples.
  12. 12. 6. Places: Cities, nations, regions are marketed. Government representatives make detailed presentations for investment purposes in that country. 7. Properties : Properties and real estate are marketed today. Both residential and commercial space is marketed. 8. Organisations: Work to build a strong and favourable brand image in the public mind. Spend money on Corporate image building. TISCO, INFOSYS, COGNIZANT, ACCENTURE are some of the examples of organizational marketing.
  13. 13. 9. Information: Information can be marketed . Universities, schools and colleges market information. Books and encyclopaedias are information marketing too. X Ray machines, MRI scanners are also a form of information marketing. 10. Ideas: Social messages, Health messages are ideas marketing. AIDS awareness, family planning and spacing, anti smoking campaigns are all examples of ideas marketing.
  14. 14. The core of any marketing effort is Exchange /transactions/ transfer Any exchange or transfer is characterized by the following aspects: • There must be two parties • Each should offer value to the other • Communication and exchange of goods/ receivables • Desirability / appropriateness of dealing with the other • Freedom to reject/ accept the offer
  15. 15. Key customer markets : There are four types of markets : 1. Consumer 2. Business 3. Global 4. Non profit / governmental Consumer markets : These are markets that sell mass consumer goods and services such as soft drinks, cosmetics, air travel equipment etc. Much of the marketing effort goes in brand building, product packaging, availability and communications.
  16. 16. Business markets : Business buyers buy in order to resell it to others. Advertising helps, but what helps more is sales force attention, price discounts, company’s reputation. Global markets : Marketing is done globally, between countries. Exporters, importers, licensers, joint ventures, contract manufacturer are some of the ways one can enter a market globally. Marketers need to understand prices, cultures, societal issues pertaining to each country in question. Non Profit / Governmental markets : Companies sell goods to charitable organizations, churches, trusts, universities, government employees stores. Lower prices is the only way to attract this business.
  17. 17. Company’s orientation towards the marketplace : The various concepts used by organizations can be classified as follows : • Production concept • Product concept • Selling concept • Marketing concept • Holistic marketing concept
  18. 18. Production concept • Holds the view that mass distributed inexpensive products are required to expand the market e.g. Chinese products, take advantage of inexpensive labour and low costs to dominate the market Product concept • Holds the view that products of good features and quality will attract the market itself • It might , but not on a long standing basis • Unless the distribution, pricing, advertisements are correct the concept will not work
  19. 19. Selling concept • Holds the view that products should be aggressively sold / promoted • Hard sell is the method • Used extensively by unsought goods – e.g. insurance, encyclopaedia • Will get people to buy, but cannot maintain a relationship • Assumes that consumers will buy a product and eventually like it and will not complain even if there is a problem • Sell more, to make more money and more profit
  20. 20. Holistic marketing concept This concept is based on the development, design and implementation of marketing programmes , processes and activities that recognises their breadth and interdependencies. This concept assumes that everything matters in marketing. Four components of holistic marketing are : – Relationship – Integration – Internal – Social Fig .3 (ref . appendix 1) shows a relationship between the other functions and marketing and describes how to look at marketing with a holistic perspective, that integrates with other functions, members (both inside and outside). Let us understand each of the four component in detail and the impact it has on marketing as a function.
  21. 21. Relationship Marketing Relationship marketing is the process of building a mutually healthy and beneficial relationship between the marketer and the prospect. Four key constituents for marketing are : customers, employees, marketing partners ( channel partners, suppliers, distributors, dealers) and members of the financial community(shareholders, investors, analysts). The outcome of this relationship is building of a strong marketing network. The operating principle of this network is that,“build the network and profits will follow”