2. According to American Marketing association-
“Marketing is an organizational function and
set of processes for creating, communicating
and delivering value to customers and for
managing relationships in a way that benefits
both the organization and the stakeholder”
3. “ Marketing Management is the art and science of
choosing target market and getting, keeping and
growing customers through creating, delivering and
communicating superior customer value”
“ Marketing Management is the marketing concept in
action”
6. Exchange, which is the core concept of marketing, is
the process of obtaining a desired product from
someone from by offering some thing in return
Exchange is possible when following five conditions
are satisfied:
i.There should be at least two parties
ii. Each party has something that might be of value to the
other party
iii. Each party is capable of communication and delivery
iv. Each party is free to accept or reject the exchange offer
v. Each party believes it is desirable to deal with the other
party
7.
8. Exchange is a process, not event. It implies that
people are negotiating and moving toward the
agreement.
When an agreement is reached, it is transaction.
Transaction is the decision arrived or commitment
made.
Transaction involves following conditions:
i. At least two things of value
ii. Agreed upon conditions
iii. A time of agreement
iv. A place of agreement
v. A law (legal system) of contract to avoid distrust
11. Consumers prefer products that are widely
available and inexpensive
Managers of production – oriented businesses
Concentrate on achieving high production
efficiency, Low costs, and mass distribution.
The production era can be divided into four
phases
Subsistence phase
Made to order phase
Early production for market phase
Mass production for market phase
12. Consumers favor products that offer the most
quality, performance, or innovative features.
Managers in product oriented organizations focus
their energy on making superior products and
improving them over time.
To improve quality and innovation companies gave
importance to product engineering.
Some times the product concept leads to
marketing myopia.
Marketing myopia means – focus on the product
rather than customers need
13. The selling concept holds that consumers and
businesses, if left alone, will ordinarily not buy enough
of the organizational products.
Consumers will buy products only if the company
aggressively promotes/sells these products.
The selling concept is practiced most aggressively
with unsought goods that buyers normally do not
think of buying such as insurance, encyclopedias etc.
Firms practice the selling concept when they have
over capacity.
It gives more importance to seller needs
15. Focuses on needs/ wants of target markets &
delivering value better than competitors.
The Marketing concept holds that the key to
achieving its organizational goals consists of the
company being more effective than competitors in
creating delivering and communicating superior
customer value to its chosen target markets.
The Marketing concept rests on four pillars
Target Market
Customer needs
Integrated marketing
Profitability
18. Focuses on the needs
of seller
Profit through sales
volume
Planning is short term
oriented
Marketer first makes
the product and then
figures out how to sell
it.
Importance to
aggressive selling
Focuses on the needs of
buyer
Profit through customer
satisfaction
Planning is long term
oriented
Marketer first determines
the needs and wants of the
customers and then
delivers the product to
satisfy those needs and
wants.
Importance integrated
19. The Societal Marketing concept holds that
organization’s task is to determine the needs ,
wants and interests of target markets and to
deliver the desired satisfaction more effectively
and efficiently than competitors in way that
preserve the customers and society’s well being.
It calls upon marketers to build social and
ethical considerations into their marketing
practices.
There should be balance between company
profits, customer satisfaction, and public
interest.
22. Needs, wants, and
demands
Marketing offers:
including products,
services and experiences
Value and satisfaction
Exchange, transactions
and relationships
Markets
Need
State of felt deprivation
Example: Need food
Wants
The form of needs as shaped
by culture and the individual
Demands
Wants which are backed by
buying power
Core Concepts
23. Needs, wants, and
demands
Marketing offers:
including products,
services and experiences
Value and satisfaction
Exchange, transactions
and relationships
Markets
Core Concepts Marketing offer
Combination of
products, services,
information or
experiences that satisfy a
need or want
Offer may include
services, activities,
people, places,
information or ideas
24. Needs, wants, and
demands
Marketing offers:
including products,
services and experiences
Value and satisfaction
Exchange, transactions
and relationships
Markets
Value
Customers form
expectations regarding value
Marketers must deliver value
to consumers
Satisfaction
A satisfied customer will
buy again and tell others
about their good experience
Core Concepts
25. Needs, wants, and
demands
Marketing offers:
including products,
services and experiences
Value and satisfaction
Exchange, transactions
and relationships
Markets
Exchange
The act of obtaining a
desired object from someone
by offering something in
return
One exchange is not the
goal, relationships with
several exchanges are the
goal
Relationships are built
through delivering value and
satisfaction
Core Concepts
26. Needs, wants, and
demands
Marketing offers:
including products,
services and experiences
Value and satisfaction
Exchange, transactions
and relationships
Markets
Market
Set of actual and potential
buyers of a product
Marketers seek buyers that
are profitable
Core Concepts
27. Target Market
Marketing place,
Marketing Space and Meta
Market
Segmentation
Marketers Prospects
Relationship Marketing
and Networks
Distinctive category of
market which includes
market for company’s
products and services
Core Concepts
28. Target Market
Market Place, Market
Space and Meta Market
Segmentation
Marketers Prospects
Relationship Marketing
and Networks
Core Concepts Market place
Market place is physical. As one goes
shopping in a store
Market Space
Market space is digital. As one goes
shopping on internet
Meta Market
Meta market is a cluster of
complementary product and services
that are closely related in the minds of
consumers but are spread across a a
diverse set of industries.
29. Needs, wants, and
demands
Market place, Market
space and Meta market
Segmentation
Marketers Prospects
Relationship Marketing
and Networks
Segmentation
Grouping of consumers
according to such
characteristics as income,
age, degree of urbanization,
race, or education
Core Concepts
30. Target Market
Market Place, market
Space and Meta
Market
Segmentation
Marketers and
Prospects
Relationship marketing
and Network
Marketer
Marketer is someone
seeking response.
Prospect
Prospect is someone
giving response.
Core Concepts
31. Target Market
Market Place, market
Space and Meta Market
Segmentation
Marketers and Prospects
Relationship Marketing
and Network
Relationship Marketing
Building mutually satisfying
long-term relations with key
parties- customers, supplies,
distributors in order to earn
and retain their business
Marketing Network
Marketing network consists
of the company and its
supporting stakeholders with
whom it has built mutually
profitable business
relationship
Core Concepts
32. Marketing Channels
Supply Chain
Marketing Mix
Competition
Sets of Inter dependent
organizations involved
in the process of making
a product or service
available for use or
consumption
Core Concepts
33. Marketing Channel
Supply Chain
Marketing Mix
Competition
Core Concepts Supply Chain
Longer channel stretching
from raw materials to
components to final
products that are carried to
final buyers
34. Marketing Channels
Supply Chain
Marketing Mix
Competition
Marketing Mix
MM is the set of marketing
tools, the firm uses to pursue
its marketing objectives in
the target market.
Core Concepts
Promotion
Place (Distribution)
Price
Product
35. Marketing Channels
Supply Chain
Marketing Mix
Competition
Competition
Rivalry to attract
customers discretionary
income
It includes
Generic Competition
Brand Competition
Form Competition
Industry Competition
Core Concepts
36. Marketing is sometimes thought of as simply
the process of buying and selling.
Its tasks are much more extensive than this
simple description.
For a marketing system to be operative and
effective, there are three general types of
functions which it must provide.
37. Functions of the Marketing
1.Exchange
Functions
2. Physical
Functions
3. Facilitating
Functions
a) Buying
b) Selling
c) Assembling
a)
Transportation
b) Storage and
warehousing
a) Financing and risk-
bearing
b) Market information
c) Market research.
d) Packing and
packaging
e) Standardization and
grading. f) Pricing
g) Promotion, Branding
38. Marketing as an Organizational Function
Marketing as a Process
Analysis
Planning
Execution
Monitoring
Marketing is Science or Art
Marketing is Collaboration
39. • The actors and forces that affect a firm’s
ability to build and maintain successful
relationships with customers.
• It consists of
Internal Marketing Environment
External Marketing Environment
40. These are controllable factors
Value System
Vision, mission, and Objectives
Organizational structure
Marketing Staff
Company Reputation
Financial Factors
41. Microenvironment:
▪ Actors close to the company
Macro environment
▪ Larger societal forces
Macro Level
Influences that affect all firms
Micro Level
Influences that affect a particular firm
45. Environmental scanning is a Process of
collecting information about the forces in the
business environment and assessing,
interpreting the information to take effective
managerial decision.
Environmental scanning is also called as
environmental analysis.
It Includes SWOT analysis
46. 1) Identification of Relevant Environmental
Variables
2) Collection of Information
3) Forecasting
4) Monitoring
47. SWOT Analysis
PEST Analysis
PESTLE Analysis
Porter's Five Forces ModelAnalysis
48. A study of the internal and the external environment is a
critical component of the strategic planning process.
Strengths: A resource advantage relative to
competitors and the needs of markets firm serves.
b) Weaknesses: A limitation or deficiency in one or
more resources or competencies relative to
competitors.
c) Opportunities: A major favorable situation in a
firm’s environment.
d) Threats: A major unfavorable situation in a firm’s
environment.
51. These factors can affect every industry directly or
indirectly.
The letters in PESTLE, also called PESTEL, denote
the following things:
Political factors
Economic factors
Social factors
Technological factors
Legal factors
Environmental factor
52.
53. A Substantial Increase in Buying Power
A GreaterVariety of Available Goods and
Services
A Great Information about Practically Anything
A Greater Ease in Interacting and Placing and
Receiving Orders
An Ability to Compare Notes on Products and
Services
More Communication Choices
More Creative Options
Social Media StreamlinesWord-of-Mouth
Tried andTrue MarketingTechniques Still Work
54. Marketing and new technologies
Marketing and international competition
Marketing and societing
Rapid Globalisation
The New Marketing Landscape
Creation of unique value with customers and
Personalized Marketing
55. “Ethics” which is coined from the Latin word
‘Ethics’ and Greek word ‘Ethikos’ pertains to
character.
Ethics is thus said to be the science of
conduct.
As a matter of fact it deals with certain
standard of human conduct and morals.
56. Business ethics are standards or moral principles to
judge right or wrong.
They determine system of conduct or behaviour of
businessmen in relation to customers and others
parties involved in business activities.
57. Marketing ethics is “The systematic study of
how moral standards are applied to
marketing decisions, behaviors and
institutions”.
58. To prevent malpractices in business. Ethics make
business activities more authentic.
To ensure uniformity in marketing practices among
various business enterprises throughout the
country.
To make marketers more aware, sensible, and liable
to customers and society as a whole.
To ensure confirmation of marketing practices with
the contemporary legal framework.
59. To enforce government, voluntary social
organisations, and others to be alert regarding long-
term interest and welfare of society.
To assist government to formulate necessary legal
provisions and enforce the marketers to obey them.
To distinguish ideal firms from exploiting firms. They
facilitate in taking needed actions against those firms
indulging malpractices.
To decide on rewards, awards, certificates, prizes, and
other encouragements for deserving business firms.
