The law of attraction is the most powerful force in the universe. If you work against it, it can only bring you pain and misery. Successful people know this but have kept it hidden from the lower class for centuries because they did not want to share their wealth. The universal law of attraction is simple. We attract whatever we choose to give our attention to. If we focus on bad things, we will attract more bad things. But the minute you stop focusing on bad and focus on good, you change the pattern and now good things start coming your way. If we knew the law of attraction and applied it in our lives daily, we would have so much power and control that it would be scary. We could have what we wanted, and when we wanted it. We would have total control of our lives. If you think of yourself as a powerful attractor, you will attract more of what you want in your life, simply by thinking about it, then acting on it. But there is one ingredient you cannot leave out or the law of attraction won't work. When we think of an object in our mind, we then send that image to our hearts and act on it with emotion. A formula makes this easy to follow: TFAR (Thoughts, Feelings, Actions, and Results) When we take necessary action, the universe shows up and gives us the results we wanted. The law of attraction works by performing three steps. And these steps must be done for the process to work. These steps are: 1. Getting clear. You must know what it is you want or else you won’t get it. The universe won’t know what you are asking for, so how can it deliver? 2. Vibrate to the level of energy corresponding to what you want. If you want something and you think about it, feel it, and act on it, you must keep that level of energy going until you achieve the results you are after. 3. Attract what you want like a magnet. If you focus on what you want but don’t allow it to come into your life, it won’t. You have to be willing to accept it and acknowledge it. Then when you act, it will occur. Whatever you do during the course of a day, whatever thoughts you think about, you are attracting. If you use it every day, regularly, and practice it this way, you will eventually find that it becomes a habit that you will subconsciously practice. You may not believe it, but the steps you need to take are easy. But you must do them, believe in them, and believe in yourself, or they will not work. Are you ready to get tuned into the universe and get clear? Can you work in harmony with the laws of the universe and become successful? If so here are the steps you need to follow: 1. Get clear. You must know exactly what it is you want. If you are in doubt, vague, or too general, you won’t get anywhere. You must know exactly what it is you want first. Only then will you be able to focus and concentrate on that thought? 2. Visualize what you want and vibrate to it. You must form a mental image in your mind so you can see it as if you had it in your possession. For women, you can do the

1. UNIT-1
INTRODUCTION TO MARKETING
CHAPTER-I
Defining Marketing for
21st Century
LECTURE BY
PROF. VENKATESHWAR RAO MBA(Marketing), Ph.D.
Professor, Dept. of Business Management
Dilla University

2. Look at this situation.
Two teenage girls wearing Lee Jeans and Fila shoes
walk into their local Delight Hotel, which happens to
be in Dilla-Ethiopia. While one orders Italian Pizza, the
other sits at a table and opens her Toshiba notebook
computer. She quickly connects to the Internet,
courtesy of Delight Hotel’ deal to provide wireless
access through Ethio telecom and uses the search
engine Google.com to search for information about
online games. Her friend returns with the Pizza and
Pepsi from counter, checks her Samsung Galaxy cell
phone for messages, and started Browsing Facebook
for new updates from friends then settles back to
enjoy the chic coffee house ambience. this would be a
typical scene in nearly any good hotel in Ethiopia ,one
of the emerging markets of Africa.

3. IDENTIFY FOLLOWING BRANDS

4. IDENTIFY THIS BRANDS

5. MARKETING IN SIMPLE TERMS
1. You see a gorgeous girl at a party. You went up to her and say "I am very rich.
Marry me". That's DIRECT MARKETING
2.You are at a party with a bunch of friends and see a gorgeous girl. One of your
friends goes up to her and pointing at you says, "He is very rich. Marry him". That's
ADVERTISING.
3.You see a gorgeous girl at a party. You go up to her and get her telephone number.
The next day you called her and say, "Hi, I am very rich. Marry me". That's TELE-
MARKETING.
4.You are at a party and see a beautiful girl. You get up and straighten your tie, you
walk up to her and pour her a drink. You open the car door for her, pick up her bag
after she drops it, offer her a ride, and then say, 'By the way, I'm very rich. Will you
marry me?'. That's PUBLIC RELATIONS.
5.You are at a party and see a gorgeous girl. She walks up to you and says, "You are
very rich“ will you marry me.That's BRAND RECOGNITION.
6.You see a gorgeous girl at a party. You go up to her and say, "I am very rich. Marry
me". She gives you a hard slap on your face. That's CUSTOMER FEEDBACK.
7.You say I m very rich marry me & she introduces you to her husband "That's
Demand & Supply Gap"
8.Before you say I am rich, marry me, your wife arrives That's RESTRICTION FROM
ENTERING NEW MARKET.

6. Fundamental Concepts
•Marketing can occur any time a person or
organization strives to exchange
something of value with another person or
organization.
•So,the core of marketing is a transaction
or exchange.
•It consists of activities designed to
generate and facilitate exchanges
intended to satisfy human or
organizational needs or wants.

7. Preconditions
•Two or more people or organization must be
involved, and each must have needs or wants
to be satisfied.
•Each party must have something of value to
contribute in the exchange, and each must
believe that it will benefit from the exchange.
•The parties to the exchange must be involved
voluntarily.
•The parties must communicate with each other
( even through third party) for awareness
and information.

8. Definitions of Marketing
• It is a total system of business activities designed to plan,
price, promote and place want satisfying products to
target markets in order to achieve organizational
objectives. -Etzel, Walker, Stanton, Pandit
• Marketing is the social process by which individuals and
organizations obtain what they need and want through
creating and exchanging value with others.- Kotler and
Armstrong (2010).
• Marketing is the management process for identifying,
anticipating and satisfying customer requirements
profitably-The Chartered Institute of Marketing (CIM).
• 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.- American
Marketing Association

9. What is 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.- Kotler

10. Selling Is Only The Tip Of The Iceberg
“There will always be a need for
some selling. But the aim of marketing is to make selling
superfluous. The aim of marketing is to know and
understand the customer so well that the product or
service fits him and sells itself. Ideally, marketing should
result in a customer who is ready to buy. All that should
be needed is to make the product or service available.”
Peter Drucker

11. What can be Marketed?
Goods
Services
Events & Experiences
Persons
Places & Properties
Organizations
Information
Ideas

12. Goods. Physical goods constitute the bulk of most countries’ production and
marketing effort. Each year, the global companies alone market billions of
fresh, canned, bagged, and frozen food products and other tangible items
Services. As economies advance, a growing proportion of their activities are
focused on the production of services. Services include airlines, hotels, car
rental firms, barbers and beauticians, maintenance and repair people, as well
as professionals working within or for companies, such as accountants and
programmers. Many market offerings consist of a variable mix of goods and
services, as when a restaurant offers both food and service.
Events. Marketers promote time-based events, such as major trade shows,
artistic performances, and company anniversaries. Global sporting events
such as the Olympics and the World Cup are promoted aggressively to both
companies and fans.
Experiences. By orchestrating several services and goods, a firm can create,
stage, and market experiences. Walt Disney World’s Magic Kingdom
represents this kind of experiential marketing, allowing customers to visit a
fairy kingdom, a pirate ship, or a haunted house. There is also a market for
customized experiences, such as spending a few days at a baseball camp
playing with retired baseball greats.5

13. Persons. Celebrity marketing is a major business. Artists, musicians, CEOs, physicians, high-
profile lawyers,Docters and financiers, and other professionals all get help from celebrity
marketers.
Places. Cities, states, regions, and whole nations compete to attract tourists, factories,
company headquarters, and new residents. Place marketers include economic development
specialists, real estate agents, commercial banks, business associations, and advertising and
public relations agencies
Properties. Properties are intangible rights of ownership of either real property (real estate) or
financial property (stocks and bonds). Properties are bought and sold through the marketing
efforts of real estate agents, investment companies, and banks.
Organizations. Organizations actively work to build a strong, favorable, and unique image
in the minds of their target publics. Tesco’s “Every Little Bit Helps” marketing program has vaulted
it to the top of the supermarket chains in the United Kingdom. Universities, museums, performing
arts organizations, and nonprofits use marketing to boost their public images and compete for
audiences and funds.
Information. Schools and universities essentially produce and distribute information at a price to
parents, students, and communities. Books, magazines, and newspapers also market
information.
Ideas. Every market offering includes a basic idea. For instance, social marketers are busy
promoting such ideas as “Friends Don’t Let Friends Drive Drunk” and “A Mind Is a Terrible Thing
to Waste.”

14. A Simple Marketing System

15. What is Market?
1. From the view point of modern marketing, market doesn’t stand for
a place where buyers and sellers gathered to buy or sell goods.
2. A market is the set of actual and potential buyers. More specifically, a
market is an arrangement of all customers who have needs that may
be fulfilled by an organization’s offerings.
3. The size of a market depends of the number of people who exhibit
the need, have resources to engage in exchange and are willing to
offer these resources in exchange for what they want.
4. Today we can distinguish between a marketplace, a
marketspace and metamarket. The marketplace is physical,
as when one goes shopping in a store; marketspace is digital, as
when one goes shopping on the Internet.
5. The metamarket concept describes a cluster of complementary
products and services that are closely related in the minds of
consumers but are spread across a diverse set of industries. The
automobile metamarket consists of automobile manufacturers, new
and used car dealers, financing companies, insurance companies,
mechanics, spare parts dealers, service shops, auto magazines,
classified auto ads in newspapers, and auto sites on the Internet

16. Demand States
Nonexistent Latent
Declining Irregular
Full Unwholesome
Overfull
Negative

18. Key Customer Markets
Consumer Markets
Business Markets
Global Markets
Nonprofit/ Government Markets

19. Consumer Markets: Companies selling mass consumer goods and
services spend a great deal of time establishing a strong brand image
by developing a superior product and packaging, ensuring its
availability, and backing it with engaging communications and reliable
service.
Business Markets: Companies selling business goods and services
often face well-informed professional buyers skilled at evaluating
competitive offerings.
Global Markets: Companies in the global marketplace must decide
which countries to enter; how to enter each (as an exporter, licenser,
joint venture partner, contract manufacturer, or solo a manufacturer);
how to adapt product and service features to each country; how to
price products in different countries; and how to design
communications for different cultures. They face different
requirements for buying and disposing of property; cultural, language,
legal and political differences; and currency fluctuations.
Nonprofit and Governmental Markets: Companies selling to
nonprofit organizations with limited purchasing power such as
churches, universities, charitable organizations, and government
agencies need to price carefully.

20. Core Marketing Concepts
I. Needs, wants,
and demands
II. Target
markets,
positioning,
segmentation
III. Offerings and
brands
IV. Value and
satisfaction
V. Marketing
channels
VI. Supply chain
VII. Competition
VIII. Marketing
environment

21. Needs, Wants, and Demands
• Needs are the basic human requirements. People need food,
air, water, clothing, and shelter to survive. People also have
strong needs for recreation, education, and entertainment.
•Needs become Wants when they are directed to specific
objects that might satisfy the need. An American needs food
but may want a hamburger, French-fries, and a soft drink. A
person in Mauritius needs food but may want a mango, rice,
lentils, and beans. Wants are shaped by one’s society.
• Demands are wants for specific products backed by an
ability to pay. Many people want a Mercedes; only a few are
willing and able to buy one. Companies must measure not
only how many people want their product but also how many
would actually be willing and able to buy it.

22. I want it, I need it…
Five Types of Needs
1. Stated needs: The customer wants an
inexpensive car.
2. Real needs: The customer wants a car with
a low operating cost, not a low initial price.
3. Unstated needs: The customer expects
good service from the dealer.
4. Delight needs: The customer wants the
dealer to include an onboard navigation
system.
5. Secret needs: The customer wants to be
seen by friends as a savvy consumer.

23. Segmentation, Target market and Positioning(STP)
Market Segmentation means dividing a market into smaller
groups of buyers on the basis of different needs,
characteristics or behavior. Market segments can be identified
by examining geographic, demographic, psychographic and
behavioral differences.
The marketer then decides which segments present the
greatest opportunity which is its target market. For each
chosen target market, the firm develops a market offering.
The offering is positioned in the minds of the target buyers as
delivering some central benefits. Thus, product positioning is
the way a product occupies a place in the minds of the
customers relative to competing products. Like, Volvo,
positions its car as the safest a customer can buy, where Ford
positioned on economy and Mercedes and Cadillac positioned
on Luxury.

24. Offering and Value Proposition
• People satisfy their needs and wants
with products. A product is any
offering that can satisfy a need or
want.
• By an offering customer get the
value proposition to use or consume
the deliver product or services. So
Value proposition is the set of
benefits or values it promises to
deliver to customers to satisfy their
needs.
• A Brand is offering from known
source.
Value and satisfaction:
• Value can be defined as a ratio
between what the customers
get and what they give in return.
The customers gets benefit and
assumes costs.
• Value = Benefits / Costs.
Marketers’ concern should be to
raise the value in the minds of
the customers.
• When value of the products or
services is high, customers are
willing to pay more for the
products. Thus;
value=
Functional Benefit+ Emotional Benefit
___________________________
Monetary costs +Time costs + Energy costs +Psychic
costs

25. Marketing channels
To reach a target market, the marketer uses three kinds
of marketing channels:
Communication channels: deliver and receive messages
form target buyers and include newspapers, magazines, radio,
television, mail, telephone and the internet.
Distribution channels: The marketers use this channel to
display, sell or deliver the physical products or services to the
buyer or user. They include distributors, wholesalers, retailers
and agents.
:Service channels The marketer also uses service channels to
carry out transaction with potential buyers. Service channels
include warehouses, transportation companies, banks and
insurance companies that facilitate transaction.

26. Competition
Competition includes all the actual and potential rival offerings
and substitutes a buyer might consider. There are several possible
level of competition:
• Brand competition: A company sees its competitors as other
companies that offer similar products and services to the same
customers at similar prices. Volkswagen might see its major competitor
as Toyota, Honda and other manufacturers of medium period
automobiles. It would not see itself to compete with Mercedes or
Hyundai.
• Industry competition: A company sees its competitors as all companies
that make the same product or class of products. Volkswagen would
see itself competing against all other automobile manufacturers.
• Form competition: A company sees its competitors as all companies
that manufacture products that supply the same service. Volkswagen
might see itself as competing against not only other auto mobile but
also against manufacturers of motor cycle, bicycles and trucks.
• Generic competition: A company sees its competitors as all companies
that compete for the same consumer dollars. Volkswagen might see
itself competing with companies that sell major consumer durables,
foreign vacations and new homes as substitutes of spending on a
Volkswagen.

27. Supply Chain
• It is the channel stretching from
raw materials to components to
final products that are carried
to final buyers. The supply
chain of women’s’ purse starts
with hides and moves through
tanning, cutting,
manufacturing, and the
marketing channels to bring
products to final customers.
• This supply chain represents a
value delivery system. Each
company captures only a certain
percentage of the total value
generated by the supply chain.
When a company acquires
competitors or moves upstream
or downstream, its aim is to
capture a higher percentage of
supply chain value.
marketing environment
• The task environment
includes the immediate actors involved in
producing, distributing, and promoting the
offering, including the company, suppliers,
distributors, dealers, and the target
customers. Material suppliers and service
suppliers such as marketing research
agencies, advertising agencies, Web site
designers, banking and insurance
companies, and transportation and
telecommunications companies are
included in the supplier group. Agents,
brokers, manufacturer representatives, and
others who facilitate finding and selling to
customers are included with distributors
and dealers.
• The broad environment
consists of six components: demographic
environment, economic environment,
natural environment, technological
environment, political-legal environment,
and social-cultural environment. These
environments contain forces that can have
a major impact on the actors in the task
environment, which is why smart marketers
track environmental trends and changes
closely.

28. THE NEW MARKETING
REALITIES
MAJOR SOCIETAL FORCES
1. Network information
technology
2. Globalization
3. Deregulation
4. Privatization
5. Heightened competition
6. Industry convergence
7. Consumer resistance
8. Retail transformation
9. Disintermediation
New Consumer Capabilities
1. A substantial increase in
buying power
2. A greater variety of available
goods and services.
3. A great amount of
information about practically
anything.
4. Greater ease in interacting
and placing and receiving
orders.
5. An ability to compare notes
on products and services.
6. An amplified voice to
influence public opinion

29. Company Orientations Toward The Market Place
• The Production Concept
• Consumers will prefer products that are widely
available & inexpensive e.g. Lenovo, Haier etc.
• The Product Concept
• Consumer favor products that offer the most quality,
performance, or innovative features e.g. Rolex etc.
• The Selling Concept
• Consumers & businesses, if left alone, won’t buy
enough of the organization’s products e.g. Insurance,
Encyclopedias etc.
• The Marketing Concept
• Emerged in mid 1950s Customer-Centered “Sense &
Respond” e.g. Dell Computer etc. The main task for marketers not
to find the right customers for the product, but the right products for
the customers.

30. The Holistic Marketing Concept
• Relationship Marketing
• Relationship marketing is a strategy designed to foster customer
loyalty, interaction and long-term engagement.
• Integrated Marketing Communication
• Integrated marketing communication (IMC) is a process for
planning, executing and monitoring the brand messages that
create customer relationship.
• Internal Marketing
• Internal marketing is the task of hiring, training, and motivating
able employees who want to serve customers well.
• Performance marketing: Holistic marketing incorporates
performance marketing and understanding the returns to the
business from marketing activities and programs as well as their
legal, ethical, social, and environmental effects. Performance
marketing thus includes: Financial accountability and Social
responsible marketing.

31. Holistic Marketing Dimensions

32. Marketing Management Tasks
1. Develop market strategies and plans
2. Capture marketing insights
3. Connect with customers
4. Build strong brands
5. Shape market offerings
6. Deliver value
7. Communicate value
8. Create long-term growth

33. Marketing Mix and the Customer
Four Ps
• Product
• Product Variety/Quality/ Design/
Features/Brand Name/ Packaging/
Sizes/Services/Warranties/Returns
• Price
• List Price/Discounts/Allowances/
Payment Period/Credit Terms
• Place
• Channels/Coverage/Assortments/
Locations/Inventory/Transport
• Promotion
• Sales Promotion/Advertising/Sales
Force/Public relations/ Direct
Marketing
Four Cs
• Customer solution
• Customer cost
• Convenience
• Communication

34. THE END
THANK YOU
ALL