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."
Marketing management is a
business discipline focused on the
practical application of marketing
techniques and the management of a
firm's marketing resources and
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."
Different definitions of
“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”
Which definition is right?
They all are!!
Marketing is about meeting the
needs and wants of
Maslow's hierarchy of needs
Represented as a pyramid
What is marketed
Marketers are involved in marketing 10 types of entities.
7. Properties (real estate, financial)
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,
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,
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.
9. Information: Information can be marketed .
schools and colleges market information. Books and
encyclopaedias are information marketing too. X Ray
machines, MRI scanners are also a form of
10. Ideas: Social messages, Health messages are ideas
marketing. AIDS awareness, family planning and
spacing, anti smoking campaigns are all examples of
The core of any marketing effort is
Exchange /transactions/ transfer
Any exchange or transfer is characterized by the
• 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
Key customer markets :
There are four types of markets :
4. Non profit / governmental
Consumer markets : These are markets that sell
consumer goods and services such as soft drinks,
travel equipment etc. Much of the marketing effort goes
brand building, product packaging, availability and
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
charitable organizations, churches, trusts, universities,
government employees stores. Lower prices is the only way to
attract this business.
Company’s orientation towards the
The various concepts used by
organizations can be classified as
• Production concept
• Product concept
• Selling concept
• Marketing concept
• Holistic marketing 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
• 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
• Holds the view that products should be aggressively sold /
• 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
• Sell more, to make more money and more profit
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 :
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.
Relationship marketing is the process of building a mutually
healthy and beneficial relationship between the marketer and
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”