What is marketing

2. What is marketing?
Marketing is the activity, set of
institutions and process of creating,
communicating, delivering and
exchanging offerings that have value for
customers, clients, partners and society
at large.
- the American Market Association
One of the shortest good definitions of marketing is
“meeting needs profitably”

3. Importance of
marketing
• Marketing plays a key role in
addressing 21st century challenges.
• Financial success depends on
marketing ability.
• Successful marketing builds
demand for products and services.

4. What is marketed?
Goods
Services
Events

5. Experience
Persons
Places

6. Properties
Organization
Information
Ideas

7. • MARKETERS AND
PROSPECTS• A marketer is someone who seeks a
response it could be an attention, a
purchase or a donation from another
party called prospect.
• Marketers are skilled at stimulating
demand for their product.

8. EIGHT DEMAND STATES(1) NEGATIVE DEMAND- Consumer dislike the
product and may even pay to avoid it.
(2) NON EXISTING DEMAND (NO DEMAND)Consumer may be uninterested in the product.
(3) LATENT DEMAND- Many consumer may share
a strong need that cannot be satisfied by any
existing product.

9. (4) DECLINING DEMAND- Consumers begin to buy
the product less frequently or not at all.
(5) IRREGULAR DEMAND— Consumer purchases
vary on a seasonal, monthly, weekly, daily, or even
hourly basis.
(6) FULL DEMAND— Consumers are adequately
buying all products put into the marketplace.

10. (7) OVERFULL DEMAND- More consumers
would like to buy the product than can be satisfied.
(8) UNWHOLESOME DEMAND—
Consumers may be attracted to products that have
undesirable so-cial consequences.

11. Structure of Flows
in a Modern Exchange
Economy

12. CORE MARKETING
CONCEPTS
• NEEDS, WANTS, AND DEMANDS
Needs - state of felt deprivation including physical,
social, and individual needs.

13. This is a Want
WANTS – Needs
become wants
when they are
directed to specific
objects that might
satisfy the need.

14. This is Demand
Wants
Buying Power
DEMAND

15. CUSTOMER NEEDS
Stated needs
Real needs
Unstated needs
Delight needs
Secret needs

16. Target market :-Every customer has different choices as pe
their needs and identifying market
segments the marketer decides which
present greatest opportunities which
are their target markets.
Positioning :Positioning is the process by which
marketers try to create an image or
identity in the minds of their target
market for its product, service,
idea, brand, or organization.
Segmentation:- When the marketers start dividing the
market in to segments as per customers
choices is known as Segmentation.

18. New marketing realities
• Means new terms & conditions that a
marketer has to follow.
Dynamic
Globalization
Privatization
Internet

19. Consumer realities
• Rise in purchasing capacity
• Consumer is becoming choosy
• 24*7 availability – lenskart.com

20. Companies capabilities
• Effective marketing
• New technology can be used
• Market research can be done effectively

21. Marketing in today’s dynamic world
• Focus on stronger brands & lose the weaker
ones
• Deep market research is vital
• Discount factor is the key one

22. •Marketing practice
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23. Marketing practice
• Mckinsey - help clients power growth
through digital advantage by focusing on
three critical enablers:

24.  Winning the consumer decision journey
 Organizing for digital leadership
 Mastering multichannel to achieve sales
excellence
Sourcehttp://www.mckinsey.com/Client_Service/Mar
keting_and_Sales/About_this_practice

25. THE PRODUCTION CONCEPT

26. THE PRODUCT CONCEPT

27. THE SELLING CONCEPT

28. THE MARKETING CONCEPT

29. ETHICS
MARKETING
DEPARTMENT
ENVIROMENT
BRAND &
CUSTOMER EQUITY
LEGAL
SENIOR
MANAGEMENT
OTHER DEPARTMENT
SALES REVENUE
PERFORMAN
CEMARKETIN
G
INTERNAL
MARKETING
HOLISTIC
MARKETING
RELATIONSHI
P
MARKETING
CUSTOMERS
CHANNEL
PARTNERS
INTEGRATE
D
MARKETING
COMMUNICATION
PRODUCT & SERVICES
CHANNELS

30. UPDATING THE FOUR
P’S

31. UPDATING THE 4 P’S

32. PRODUCT
Product
Example
Decision
Product
design
Will the design be the selling point for the
organization as we have seen with the iPad, the
new VW Beetle or the Dyson Ball vacuum cleaner.
Product
quality
Quality has to consistent with other elements of
the marketing mix. A premium based pricing
strategy has to reflect the quality a product offers
Product
features
What features will you add that may increase the
benefit offered to your target market? Will the
organisation use a discriminatory pricing policy for
offering these additional benefits?
Product
brandin
g
One of the most important decisions a marketing
manager can make is about branding. The value of
brands in today’s environment is phenomenal.
Brands have the power of instant sales, they
convey a message of confidence, quality and
reliability to their target market.

33. PRICE
Pricing is one of the most important elements of the marketing mix, as
it is the only mix, which generates a turnover for the organization. The
remaining 3p’s are the variable cost for the organization. It costs to
produce and design a product, it costs to distribute a product and costs to
promote it. Price must support these elements of the mix. Pricing is
difficult and must reflect supply and demand relationship. Pricing a
product too high or too low could mean a loss of sales for the
organization. Pricing should take into account the following factors:
 Fixed and variable costs.
 Competition
 Company objectives
 Proposed positioning strategies.
 Target group and willingness to pay.

34. PROMOTION
Types of promotion
Advertising:
Public relations
Sales promotion:
Personal selling:
Direct Mail
Internet Marketing
Sponsorship
Explanation
Any non personal paid form of communication using any form of mass media.
Involves developing positive relationships with the organization media public.
The art of good public relations is not only to obtain favorable publicity within the
media, but it is also involves being able to handle successfully negative
attention.
Commonly used to obtain an increase in sales short term. Could involve using
money off coupons or special offers.
Selling a product service one to one
Is the sending of publicity material to a named person within an organization
Direct mail allows an organization to use their resources more effectively by
allowing them to send publicity material to a named person within their target
segment. By personalizing advertising, response rates increase thus increasing
the chance of improving sales. Listed below are links to organization who's
business involves direct mail.
Promoting and selling your services online using various forms of online
marketing techniques such as banner advertisements, videos or social media.
Where you pay an organization to use your brand or logo. This organization
usually has a high profile so that you know that your brand will be seen by a
large audience. Most common use of sponsorship is with sporting events. The
2012 Olympics being held in London is being sponsored by a number of
organizations such as MC donalds and Coca-Cola as the event will attract a
world wide audience that will run into hundreds of millions.

35. PLACE
Place is in regards to distribution, location and methods of
getting the product to the customer. This includes the
location of your business, shop front, distributors, logistics
and the potential use of the internet to sell products
directly to consumers.

36. MARKETING MANAGEMENT
TASKS
 DEVELOPING MARKETING STRATIGIES AND PLANS
 ASSESSING MARKET OPPORTUNITIES AND
CUSTOMER VALUE
 CHOOSING VALUE
 DESIGNING VALUE
 DELIVERING VALUE
 COMMUNICATION VALUE
 SUSTAINING GROWTH AND VALUE