Marketing by Prof. Ravindra Pujari

Ravindra_pujari@yahoo.com
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Prof. Ravindra Pujari

is a core function of any
organization, be it into
product selling or selling
of services.
It is the process of
creating a demand for a
product or service in the
market place.
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It is the function which
brings in revenue and
profits to the organization,
rest all other are costs to
the company.

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Marketing is the
management process
responsible for
identifying, anticipating
and satisfying customer
requirements profitably.
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“Marketing Management is the process
of planning and executing the
conception, pricing and promotion and
distribution of goods, services and
ideas to create exchanges with target
groups that satisfy customer and
organizational objectives.” Philip Kotler
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American Marketing Association.
“Marketing Management is process of
planning and executing the
conception, pricing, promotion, and
distribution of goods, ideas and
services to create exchanges that
satisfy individual and organizational
objectives.”
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MARKETING MANAGEMENT
"Marketing management is “the art
and science” of choosing target
markets and getting, keeping, and
growing customers through creating,
delivering, and communicating
superior customer value'

• Art is an expression of our
thoughts, emotions, intuitions,
and desires. Words alone cannot
express it and cannot be
measured.
• Science is knowledge and
understanding of the natural and
social world following a
systematic methodology based on
evidence.
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Marketing Science
Marketing is a science because marketing is about understanding and
influencing behaviors., the psychology, and how people react to certain
stimuli in predictable ways.
This is similar to Newton's' third law - cause and effect. For every marketing
action there is a reaction. The science is in anticipating the reactions to your
actions.
Marketing is a science because marketing is about measuring and analyzing
the numbers. How many prospects do you reach? How many people read
your message? How many do you convert to buyers? How much do they
spend? How many buy again? These are mathematical questions and
answers and important to the success of your marketing. Math and
accounting are important sciences to your business.

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Marketing Art
Marketing is art because marketing is about creating a demand for your
product. Some of that demand is immediate and some of it is in the future.
One can try to use science to predict the future part but have pick a number
based on art. There is always an unknown aspect that we attribute to art.
Marketing is an art because marketing is about appreciating the nuances of
human behaviors.
Beauty is in the eye of the beholder. Beauty is art. Marketing is an art
because there is the issue of branding which is difficult to measure. To
generate a good return on your marketing investment requires a creative
approach. That means that you need to apply the art of marketing. That is
difficult to measure but it is necessary.

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Marketing vs & Market.
Market is an arrangement to provide an opportunity to
exchange goods. Marketing is sum total of all those activities
that are related to flow of goods from production to
consumption.
Marketing, Selling & Merchandizing. Marketing is a broader
concept which is driven from customer’s demand. Selling is
one part of marketing which deals with persuading customers
to buy products that are available with seller. Merchandizing
refers to the process offering a variety of products to a retail
consumer in a manner which stimulates demand.

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IMPORTANCE OF MARKETING
1. Marketing Generates Revenue, by generating sales &
thereby profit. Marketing helps to achieve, maintain and raise
the standards of living - Marketing is means through which
production and purchasing power are converted into
consumption. - Better marketing
. Mass production - Mass production. Low cost - Low cost. More
buying power. Higher standard of living
2. Marketing Increases employment opportunities - Marketing
involves various functions / sub-functions (Buying, Selling,
Transport, Warehousing, Financing, Risk management etc) -
These functions create need for different specializations –
About 30-40% population depends directly or indirectly on
marketing.

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3. Marketing increases national income - More purchasing
power , increase in national income.
4. Helps maintain economic stability & development - By
maintaining demand supply balance.
5. Link between producer & consumer .
6. Removes imbalance of supply & demand by transferring
surpluses .
7. Helps create utilities of time, place & possession.

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1) Emphasis on Quality, Value, and Customer Satisfaction:
(Value for Money, “Offer More for Less.”)
2) Emphasis on Relationship Building and Customer Retention:
(CRM)
3) Emphasis on Managing Business Processes and Integrated
Business Functions:
(Contracts, Vendors System)
4) Emphasis on Global Thinking and Local Market Planning:
(Think Global, Work Local)
5) Emphasis on Strategic Alliances and Networks:
(Franchisee, J V, Consultancy)

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6) Emphasis on Direct and Online Marketing:
(Eg: Amazon, Ola, OYO)
7) Emphasis on Services Marketing:
(Intangible product marketing)
8) Emphasis on High-tech Industries:
(Tech Savvy/Speed)
9) Emphasis on Ethical Marketing Behaviour:
(Honest/ Transperent/Consumer Behaviour)
10) Other issues: ISO, TQM
(Safety, Eco-friendly, System oriented)

MASLOW’S Hierarchy of needs.
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Difference Between Sales and Marketing.
Sales and marketing are closely interlinked and
are aimed at increasing revenue.
Once the product is out in the market, it is the
task of the sales person to persuade the
customer to buy the product. Well, sales means
converting the leads or prospects into purchases
and orders.

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Marketing and sales are two different things that are
part of a company’s strategy. Sales is quite straight
forward. It incorporates actually selling the company’s
products or service to its customers.
Whereas, marketing has a much bigger scope; it
incorporates how a company places itself in the
market and in the eyes of its customers and potential
customers. It also incorporates what products the
company sells. In short, marketing ensures that sales
take place; that the customers are confident enough
to buy from the company. Hence, it can also be said
that sales is in fact a part of marketing.

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Scope Short Term Long Term
Focus
Generate purchases or
orders, meet sale volume
objectives
Generate leads and
internet in the company
Ranking
Sales is a step or
marketing
Marketing shows how to
reach to the Customers
Incorporates
Directly selling the
product to the customer.
Identifying customers,
producing innovative
products, branding,
advertising, public
relations, sales, etc.
Correlation
Fulfilling the demands of
a product.
The process of creating
demand for a product in
the market.
Purpose
Selling the product on
basis of the brand
image.
Creating and maintaining
a brand image.

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Sales Marketing
Concept
Sales is a narrower
concept
Marketing is a wider
concept
Process
Usually one to one -
direct activity
One to many - indirect
activity
Function
To make customer
demand match the
company’s product.
i.e. sell the product
To listen and
accommodate target
market and determine
future needs.
i.e. maintain company in
market; to create
products to meet
customer needs. Also to
promote and advertise
the said products.

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Marketing is the process of communicating the value
of a product or service to customers, so that the
product or service sells. Marketing is the first and the
broadest step to make sales effective. Its job is to
attract the customers so that the sales team can sell
the products. In order to do this effectively, marketing
requires the 4 Ps, i.e. Product, Price, Place and
Promotion.
Marketing has the goal of increasing the desirability
and value of the product and of the company to the
customer, as well as, increasing the number and
engagement of interactions between potential
customers and the organization.

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Marketing includes consumer research, in order to
identify the needs of the customers; product
development which aims to design a product to meet
those needs; and advertising the products to raise
awareness, build the brand and to generate interest in
the product. All of this eventually leads to a position
where sales can happen.
Sales is the actual selling of the product. The sales
team has to directly interact with the customer and
persuade them to buy the product.

Four ‘P’ of Marketing mix
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PRODUCTThis variable describe all
factors relating to the
actual product visible to
the consumer.
These may include things
such as quality, features,
options, style, packaging,
brand, sizes, labels,
variety, and warranties.
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PRICE
The price variable
includes not only the list
price, but all other pricing
factors associated with a
product. These may
include discounts,
allowances, payment
options and periods, and
credit terms. All of these
are related to the final,
price of the product.Ravindra_pujari@yahoo.com
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PLACE
Place deals with all
distribution and
location aspects of a
product.
How and what are the
products available to
consumers? These
may include
assortments,
channels, coverage
areas, locations, and
inventories.
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PROMOTIONPromotion is any and
all efforts by a
company to make
publicize a product
and make the
consumer aware of it.
Efforts might include
advertising, personal
selling, sales, public
relations, or internet
activities. Ravindra_pujari@yahoo.com
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Company Orientation /Philosophies towards the
market.
Markets being dynamic,
the company orients the
marketplace with definite
concept, strategy.
There are basically five
different orientations/philosophies
which a company
takes towards the marketplace.

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Marketing Management Philosophies
There are five marketing concepts. A company
should choose the right one according to their and
their customers’ needs.
Production Concept
Product Concept
Selling Concept
Marketing Concept
Social Marketing Concept

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Production Concept
Increase in the production of the product makes the companies get the
advantage of economies of scale. This concept works on an
assumption that consumers prefer a product which is less-expensive
and widely available.
This view point was encapsulated in says law which states ‘Supply
creates its own demand’. Hence companies focus on producing
more of the product and making sure that it is available to the
customer everywhere easily.
Low price may attract new customers, but the focus just on production
and not on the product quality may hamper sales. This may result in a
decrease in sales, if the product is not up to the standards.

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Product Concept
This concept works on an assumption that customers
prefer products of ‘greater quality’ and ‘price and
availability’ doesn’t influence their purchase decision.
Hence company devotes most of its time in developing a
product of greater quality which usually turns out to be
expensive. Since the main focus of the marketers is the
product quality, they often lose or fail to appeal to
customers whose demands are driven by other factors like
price, availability, usability, etc
Companies in the technology industry.
Companies having an advantage of monopoly

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Selling Concept
Production and product concept both focus on production
but selling concept focuses on making an actual sale of
the product. Selling concept focuses on making every
possible sale of the product, regardless of the quality of
the product or the need of the customer. The main focus is
to make money.
Companies following this concept may even try to deceive
the customers to make them buy their product.
Companies which follow this philosophy have a short
sighted approach as they ‘try to sell what they make
rather than what market wants’.

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Marketing Concept
Selling concept cannot let a company last long in the market.
To succeed in the 21st century, one has to produce a product
to fulfill the needs of their customers. Hence, emerged the
marketing concept.
This concept works on an assumption that consumers buy
products which fulfill their needs. Businesses following the
marketing concept conduct researches to know about
customers’ needs and wants and come out with products to
fulfill the same better than the competitors. By doing so, the
business establishes a relationship with the customer and
generate profits in the long run.
Many businesses still follow sales concepts to make profits.
It totally depends on the demand and supply and the needs
of the parties involved.

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Societal Marketing Concept
Adding to the marketing concept, this philosophy focuses on
society’s well-being as well. The societal marketing concept or
philosophy believes in giving back to the society what it had
received from the society.
Business focuses on how to fulfill the needs of the customer
without affecting the environment, natural resources and
focusing on society’s well-being.
This philosophy believes that the business is a part of the
society and hence should take part in social services like the
elimination of poverty, illiteracy, and controlling explosive
population growth etc.
Many of the big companies have included corporate social
responsibility as a part of their marketing activities.

HOLISTIC MARKETING
A business, like a human body, has different
parts, but it’s only able to function properly
when all those parts work together towards the
same objective.
Holistic Marketing Concept considers
business and all its parts as one single entity
and gives a shared purpose to every activity
and person related to that business.
“A holistic marketing concept is based on the
development, design and implementation of
marketing programs, processes and activities
that recognize the breadth and
interdependencies
Holistic marketing concept enforces this inter-
relatedness and believes that a broad and
integrated perspective is essential to attain
best results.
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Holistic Marketing Concept
Holistic Marketing is a new addition to the business marketing management philosophies.
Holistic marketing recognizes that ‘everything matters’ with marketing and that a broad,
integrated perspective is necessary to attain the best solution.”
Holistic Marketing Concept considers business and all its parts as one single entity and
gives a shared purpose to every activity and person related to that business.
A business, like a human body, has different parts, but it’s only able to function properly
when all those parts work together towards the same objective.
Holistic marketing concept enforces this inter-relatedness and believes that a broad and
integrated perspective is essential to attain best results.
“A holistic marketing concept is based on the development, design and implementation of
marketing programs, processes and activities that recognize the breadth and
interdependencies

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The Product & Production Concept
1) Products which are better in terms of quality performance and features.
2) Production, “as the productivity levels increase, cost of production decreases,
and as a result, customer will be able to purchase a product at a cheaper rate,
which in turn accelerates the sales of the company.”
For a product to be successful under this concept, it should stand apart from
the rest of the crowd. Let’s take Apple and Google for example. The end
products of these companies are not only of the best quality, but are also very
exclusive. Hence, companies willing to adapt ‘product concept
The Selling Concept
Customers will not buy products unless persuaded to do so. This is true even
today in case of certain products such as insurance. Although the customer
should use it, they rarely do.

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The Marketing Concept Just like selling is a necessity, similarly branding
and marketing are a necessity in some products. The marketing concept
proposes that the success of a firm depends on the marketing efforts of the
company in delivering a value proposition.
It should not only keep themselves updated with the ever changing technical
trends, but also the needs of their customers.
The Societal Concept The societal marketing concept leads to a company
orientation which believes in giving back to the society what it had received
from the society. This concept believes that the company is profiting because
of society and hence it should also take measures to make sure the society
also benefits from the company.

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Aligned Activities
All of the services, processes, communication and other business activities should be directed
towards that common goal.
Integrated Activities
All activities should be designed and integrated in such a way so as to create a unified, consistent
and seamless customer experience.
Components of Holistic Marketing
Holistic marketing focuses on marketing strategies designed to market the brand to every person
related to it, be it employees, existing customers or potential customers, and communicating it in a
unified manner while keeping in mind the societal responsibility of the business.
Relationship Marketing
The relationship marketing aspect of holistic marketing philosophy focuses on a long-term
customer relationship and engagement rather than short-term goals like customer acquisition and
individual sales. This strategy focuses on targeting marketing activities on existing customers to
create a strong, emotional, and everlasting customer connections. These connections further help
the business in getting repeated sales, free word of mouth marketing and more leads.
Integrated Marketing
Integrated marketing is an approach to create a unified and seamless experience for consumer to
interact with the brand by designing and directing all communication (advertising, sales promotion,
direct marketing, public relations, and digital marketing) in such a way so that all work together as a
unified force and centers around a strong and focused brand image.

The Marketing Mix - The Four P's
There are four marketing mix variables that are associated with a product. These must be taken into
consideration when making any decisions regarding marketing activities. These are often known as the
"Four P's" in marketing. Note that these should only be identified after a target market is selected. All
marketing mix variables are controllable, internal factors. These include:
1.Product - This variable described all factors relating to the actual product visible to the consumer.
These may include things such as quality, features, options, style, packaging, brand, sizes, labels,
variety, and warranties.
2.Price - The price variable includes not only the list price, but all other pricing factors associated with a
product. These may include discounts, allowances, payment options and periods, and credit terms. All
of these are related to the final, whole price of the product.
3.Place - Place deals with all distribution and location aspects of a product. How and what are the
products available to consumers? These may include assortments, channels, coverage areas,
locations, and inventories.
4.Promotion - Promotion is any and all efforts by a company to make publicize a product and make the
consumer aware of it. Efforts might include advertising, personal selling, sales, public relations, or
internet activities.
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Marketing strategy
A marketing strategy is the logic by which the business unit happens to achieve its marketing objectives.
Designing a market strategy involves a few steps.
Market segmentation
This is the first step of planning a marketing strategy. The company needs to divide potentials customers
into groups based on a characteristic that tells us the kind of product the customer is interested in.
The major ways to segment are geographic, based on location; demographic, based on family niche.
Basically market segmentation allows us to determine niches in a market. Usually a company tends to
segment the market more than once, e.g. First by country, then by state, then by income and then by family
size.
Target Marketing
This occurs when the company examines the results from market segmentation and studies the various
market segments to determine the segments to which the product will be most useful to.
When examining a segment you need to consider how fast it is growing, this can be done by looking at
sales and growth rates.
There are other factors that you may need to consider as well. The number of competitors in a segment will
greatly affect the profit margin that you can hope to make.
Last, you need to consider your company’s resources. You may find that some segments will take too much
time or money to pursue, which will cut into your profit as well.
Product positioning
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This is the manner in which the consumer sees your product in respect
to other similar products available in the market. You need to examine
your product and its competitors in the market and determine how it is
different or better than the others. These differences could be better
quality, lower price or a product that is more accessible to the
consumer.
Out of the differences determined pick those that would appeal most to
the targeted market segment and promote them. The product
positioning you end up with should tell consumers why your product is
the one that they should spend their money on.
The above mentioned aspects will definitely help your business grow.
You should not assume that things such as marketing strategy are only
for large companies, the size of your business does not affect your
eligibility to form a marketing strategy, and it matters not whether you
are selling your products on a website or a mall. Try using what you
have learned in your planning, the results will not disappoint you.

Every marketing plan has to fit the needs and situation. Even so, there are standard components you just can’t
do without. A marketing plan should always have a situation analysis, marketing strategy, sales forecast, and
expense budget.
•Situation Analysis: Normally this will include a market analysis, a SWOT analysis (strengths, weaknesses,
opportunities, and threats), and a competitive analysis. The market analysis will include a market forecast,
segmentation, customer information, and market needs analysis.
•Marketing Strategy: This should include at least a mission statement, objectives, and focused strategy
including market segment focus and product positioning.
•Sales Forecast: This would include enough detail to track sales month by month and follow up on plan-vs.-
actual analysis. Normally a plan will also include specific sales by product, by region or market segment, by
channels, by manager responsibilities, and other elements. The forecast alone is a bare minimum.
•Expense Budget: This ought to include enough detail to track expenses month by month and follow up on plan-
vs.-actual analysis. Normally a plan will also include specific sales tactics, programs, management
responsibilities, promotion, and other elements. The expense budget is a bare minimum.
Are They Enough?
These minimum requirements above are not the ideal, just the minimum. In most cases you’ll begin a marketing
plan with an Executive Summary, and you’ll also follow those essentials just described with a review of
organizational impact, risks and contingencies, and pending issues.
Include a Specific Action Plan
You should also remember that planning is about the results, not the plan itself. A marketing plan must be
measured by the results it produces. The implementation of your plan is much more important than its brilliant
ideas or massive market research. You can influence implementation by building a plan full of specific,
measurable and concrete plans that can be tracked and followed up. Plan-vs.-actual analysis is critical to the
eventual results, and you should build it into your plan.
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Marketing by Prof. Ravindra Pujari

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