2. MARKETING
According to AMA(American Marketing Association) :"Marketing is the
activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.
3. OBJECTIVES OF MARKETING
Increasing sales
Targeting specific audiences
Launching new products
Building customer relationships
Improving market share
Increasing profitability
4. FUNCTIONS OF MARKETING
Product development and management
Promotion and advertising
Sales and distribution
Market research and analysis
6. MARKETING MYOPIA
When a company is so focused on quick sales and mass production of
goods they lose sight of their long-term goals and customer needs.
A firm should be customer oriented instead of being product oriented.
EXAMPLES OF MARKETING MYOPIA
Kodak lost much of it’s share to Sony cameras.
Nokia losing its marketing share to android and IOS.
7. MARKETING MANAGEMENT TASK
Developing marketing strategies and plans
capturing marketing insights
connecting with the customers
building strong brand’s
shaping the market offerings
delivering value
communicating value
creating successful long-term growth
9. 1. Production Concept:
Consumers will favour those products that are widely available and low in cost.
Hence, focus is on efficiency and wide distribution.
It's applicable when:
• Product demand is more than product supply.
• Product cost is to be lowered to expand market through scale
2. Product Concept:
The product concept holds that consumers will favor those products that offer
the most quality, performance, or innovative features under product concept,
finding customers is viewed as a relatively minor function. Managers in these
organizations focus on making superior products and improving them over time.
10. 3. The Selling Concept
Selling concept holds that consumers and businesses, if left alone, will ordinarily not
buy enough of the organization's products unless it undertakes a large-scale selling
and promotion effort. Therefore, the organization must undertake an aggressive
selling and promotion effort.Most firms practice the selling concept when they have
overcapacity.
4. Marketing Concept
The marketing concept starts with a well-defined market, focuses on customer needs,
coordinates all marketing activities affecting customers, and makes a profit by
creating long-term customer relationships based on customer value and
satisfaction.Thus, under the marketing concept, customer focus and value are the
paths to sales and profits. This concept is based on "we make what we can sell."
11. 5. The Holistic Concept
The holistic marketing concept is based on the development, design, and
implementation of marketing programs, processes, and activities that recognize their
breadth and interdependencies.Holistic marketing thus recognizes and reconciles the
scope and complexities of marketing activities.The four broad components
characterizing holistic marketing are relationship marketing, integrated marketing,
internal marketing, and performance marketing.
12. MARKETING ENVIRONMENT
• A marketing environment encompasses all the internal and external factors that
drive and influence an organization's marketing activities.
• Marketing managers must stay aware of the marketing environment to maintain
success and tackle any threats or opportunities that may affect their work.
• A marketing environment is vast and diverse, consisting of controllable and
uncontrollable factors.
