Marketing Management

1. Unit -1

2. Marketing : It starts with discovery of needs
and wants of the consumers, and it continues
till the wants are satisfied.

3.  Needs, Wants and Demands
 Product
 Utility
 Value
 Cost and Satisfaction
 Exchange and Transaction
 Relationship and Networks
 Markets
 Marketers

4.  Functions of Exchange
 Functions of Physical Supply
 Facilitating Functions
 Other Functions

5.  Marketers are sometimes confused about the
differences between marketing and selling.
 Marketing is the act of ‘bringing the product
to market’.
 Selling on the other hand is the final step
which leads to close a sale, convert a
prospective buyer into a customer.

6. Definition
 According to Philip Kotler, “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.”

7.  Creating New Customers.
 Satisfying the Needs of Customers.
 Enhancing the Profitability of Business.
 Raising the standards of living People.
 Determining the Marketing Mix.

11.  Marketing Environment is the combination of
external and internal factors and forces which
affect the company’s ability to establish a
relationship and serve its customers.
The marketing environment of a business
consists of an internal and an external
environment.
 The internal environment is company-specific
and includes owners, workers, machines,
materials etc.
 The external environment is further divided
into two components: micro & macro.

12.  Demographic environment
i. Population mix
ii. Country market
iii. Education
iv. Household patterns
v. Shifts in population
 Political and legal
 Economic, monetary and natural
 Socio-cultural
 Technological

13.  The Company
i. Culture and value system
ii. Mission and objectives
iii. Management structure and nature
iv. Human resource
 Intermediaries
 Public
 Competitors
 Suppliers
 Customers

14.  Marketing and Finance
 Marketing and Production
 Marketing and Human Resource Management
 Marketing and Information System

16.  “Global marketing is the performance of
business activities that direct the flow of
company’s goods and services to consumers
or users in more than one nation for a
profit.”

17.  No Involvement
 Infrequent Global Marketing
 Regular Global Marketing
 Global Marketing
 Global Marketing Operation

18.  Exporting
 Contracting
 Joint Venture
 Direct Ownership

19. PEST framework (political / legal, economic,
social / cultural and technological) is useful
to assess the potential opportunities of
different foreign markets.
 Political / Legal Considerations
 Economic Considerations
 Social / Cultural Considerations
 Technological Considerations

20.  Outsourcing
 Organizational Restructuring
 Communication Challenges
 Assessment and Development
 Cultural Sensitivities
 Team Effectiveness