Chapter 1 - mkt management

1. DEFINING THE MARKETING
Subject: Marketing Management
Prottasha Paul
Lecturer
Department of Business administration

2. Chapter Questions
• Why is marketing important?
• What is the scope of marketing?
• What are some fundamental marketing
concepts?
• How has marketing management
changed?
• What are the tasks necessary for
successful marketing management?

3. What is Marketing?
Marketing is an organizational function
and a set of processes for creating,
communicating, and delivering value
to customers and for managing
customer relationships
in ways that benefit the
organization and its stakeholders.

4. • Identify and satisfy human need profitably.
-Philip Kotler
• Marketing is an organizational Fuction and a set of
process for creating, communicating and delivering value
to customer in a way that benifits the organixations nad its
stakeholders.
- American marketing Associations
• Marketing include all the activities relating to selling,
promoting, creating and delivering valute to the end
customer to satisfy their need.
• Marketing mangement is an Art and science of choosing
target marketand getting keeping growing customers through
creating delivering and comunucating superior cistomer value
What is Marketing?

5. • Marketing
• Identifying customer needs
• Designing goods and services that meet those
needs
• Communicating information about those goods and
services to prospective buyers
• Making the goods or services available at times
and places that meet customers’ needs
• Pricing goods and services to reflect costs,
competition, and customers’ ability to buy
• Providing for the necessary service and follow-up
to ensure customer satisfaction after the purchase

6. 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.

7. What is Marketed?
• Goods
• Services
• Events and
experiences
• Persons
• Places and
properties
• Organizations
• Information
• Ideas

8. Core Marketing Concepts
• Needs, wants, and demands;
• Marketing offers (products, services,
and experiences);
• Value and satisfaction;
• Exchanges and relationships; and
• Markets.

9. Core Marketing Concepts
(Continuing….)
• Need is basic requirement that human need to
survive. Example: food, shelter and others
• Wants based on individual’s personality and culture
and generally brings convenience. Example: A good
fragrant soap.
• A demand is a desire of the customer which is
backed by buying power. Example: Buying a BMW
• To fulfill this need, want and demand product and
service are created

10. Human
Manufacturer/
organizations
Product / sevices
Need/ want
/Demand
Create/Communicate/
Deliver
Satisfy

11. Core Marketing Concepts
(Continuing….)
• Marketer: A person or organization that advertise or
promote something for selling
• Marketplace: It is a physical or online place for selling the
product or services.
• Product : Any thing that satisfy human need and want.
• Exchange : Act of giving one thing and receiving one thing
of the same value
• Value : sum of Tangible nd Intangible assets
• Satisfaction: Difference between value received and cost.

12. Key Customer Markets
• Consumer markets
• Business markets
• Global markets
• Nonprofit/Government markets

13. Company Orientations/ Marketing
Management Philosophies
• Production
• Product
• Selling
• Marketing
• Societal Marketing

14. Avoiding Marketing Myopia
• Marketing Myopia is management’s
failure to recognize the scope of its
business.
• To avoid marketing myopia, companies
must broadly define organizational goals
toward consumer needs
• Focus on benefits

15. Marketing Mix and the Customer
Four Ps
• Product
• Price
• Place
• Promotion
New 3ps
• Process
• People
• Physical
evidence
Four Cs
• Customer
solution
• Customer cost
• Convenience
• Communication

16. Marketing Management Tasks
• Develop market strategies and plans
• Capture marketing insights
• Connect with customers
• Build strong brands
• Shape market offerings
• Deliver value
• Communicate value
• Create long-term growth

17. Evolving Views of Marketing’s
Role
a. Marketing as an
equal function
Finance
Production
Marketing Human
resources
b. Marketing as a more
important function
Finance
Human
resources
Marketing
Production

18. Evolving Views of Marketing’s
Role
-
-
c. Marketing as the
major function
Marketing
Production
d. The customer as the
controlling factor
Customer

19. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-19
Evolving Views of Marketing’s
Role
-
e. The customer as the controlling
function and marketing as the
integrative function
Customer
Marketing
Production

20. THANK YOU