Marketing has evolved significantly from early barter systems to today's complex global practices. It involves understanding customer needs and wants to create value through products and services. The goal is profitable exchanges that satisfy customers. Early concepts focused on production or products, while modern approaches center on customers, society, and stakeholders. Marketing identifies customer requirements and delivers superior value compared to competitors. It is a management process that creates and maintains beneficial relationships.
The Power point presentation is all about Basics of Marketing which include introduction of marketing, definition of marketing and the core concepts of marketing.
Slides of my session at ITM, Mumbai. Introduction to Marketing. Session 1. Includes:
What is Marketing
Marketing Defined
Core Concepts
Marketing Process
Marketing Philosophies
Towards new marketing assumptions
Functions of Marketing
The Four 4 Ps The Marketing Variables
Market Segmenting
Identify sub-markets within market
Decide which one(s) to pursue (target)
Design marketing mix(es) to be attractive to targeted segment's
Demographics - age, race, sex, income, education
Geographic - country, state, urban/rural, climate
Psychographics -attitudes, values, beliefs, personality traits
Behavioral - benefits, usage.
Market consists of people with both the desire and ability to buy
Subject - Management
Unit 1 - introduction to marketing management
Content- Marketing, Marketing Management, Markets, What can Marketed? etc.
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.
THE PPT CONSIST OF A BRIEF DESCRIPTION ABOUT ALL THE ASPECT OF MARKET AND MARKETING helpfull for MBA students to know about a quick over view about marketing management
The Power point presentation is all about Basics of Marketing which include introduction of marketing, definition of marketing and the core concepts of marketing.
Slides of my session at ITM, Mumbai. Introduction to Marketing. Session 1. Includes:
What is Marketing
Marketing Defined
Core Concepts
Marketing Process
Marketing Philosophies
Towards new marketing assumptions
Functions of Marketing
The Four 4 Ps The Marketing Variables
Market Segmenting
Identify sub-markets within market
Decide which one(s) to pursue (target)
Design marketing mix(es) to be attractive to targeted segment's
Demographics - age, race, sex, income, education
Geographic - country, state, urban/rural, climate
Psychographics -attitudes, values, beliefs, personality traits
Behavioral - benefits, usage.
Market consists of people with both the desire and ability to buy
Subject - Management
Unit 1 - introduction to marketing management
Content- Marketing, Marketing Management, Markets, What can Marketed? etc.
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.
THE PPT CONSIST OF A BRIEF DESCRIPTION ABOUT ALL THE ASPECT OF MARKET AND MARKETING helpfull for MBA students to know about a quick over view about marketing management
all short notes on Marketing
societal marketing
marketing concepts
maeketers
target marketing
need wants and demands
socal media influence on marketing
industry and market concept along with all the relevent examples
product concept ,production concept,selling concept ,marketing concept
product concept
costing and priceing along with the required documents
Marketing concept is a set of strategies that the firms adopt where they analyse the needs of their customers and implement strategies to fulfil those needs which will result in an increase in sales, profit maximisation and also beat the existing competition.
The marketing concept has been widely used by companies all over the world in the present age, but the situation was not the same earlier. As per this concept, it is said that for an organisation to satisfy the objectives of the organisation, the needs and wants of the customer should be satisfied. This theory was first mentioned in Adam Smith’s book “The Wealth of Nations” in 1776 but came into widespread use only 200 years later.
Therefore, marketing can be said as a process of acquiring customers andmaintaining relations with them and at the same time matching needs and wants with the services or product offered by the organisation, which ensures that the organisation will become profitable.
What are Needs, Wants and Demand
Marketing concept focuses on the needs, wants and demands of customers. Let us understand them in brief.
1. Needs:
Needs are basic requirements that enable a healthy and active life. If needs are not fulfilled, it will result in the dysfunction of the system, which can result in disability or death. It can be objective as well as physical as in need of food, water and shelter.
2. Wants:
Wants are something that is desired by the person. These are not required for day to day functioning. Wants are not necessary for basic survival and are mostlymoulded by cultural influence.
3. Demands:
When the needs and wants are supported by an ability to pay, it becomes a demand.
Types of Marketing Concept
Five types of marketing concepts are as follows:
1. Production Concept
2. Product Concept
3. Selling concept
4. Marketing concept
5. Societal marketing concept
Production Concept
This concept was based on the assumption that customers are primarily interested in products which are accessible and affordable. This concept was introduced at a time when business was focused mainly on production. It says that a business will be able to lower costs by producing more quantity or mass production of goods
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
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A Strategic Approach: GenAI in EducationPeter Windle
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This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Biological screening of herbal drugs: Introduction and Need for
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The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
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Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
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2. Concept
The history of marketing is old as human civilization. Since people started
forming society, their needs increased rapidly. This increase in need gave rise
to production of necessary goods. Then they started exchanging surplus goods
with other goods they need.
This exchange led to barter system.
3. Cont..
The invention of money facilitated the exchange system.
From that phase to present Marketing has seen significant
transformation.
Present marketing is
A Philosophy
An Attitude
A Perspective
A Management orientation
And more………
4. WHAT IS MARKETING ?
ANY INTERPERSONALAND
INTERORGANISATIONAL
RELATIONSHIP INVOLVING AN
EXCHANGE IS MARKETING .
WILLIAM J.STANTON
5. WHAT IS MARKETING ?
The essence of Marketing is a transaction -
an exchange- intended to satisfy human needs and
wants.There are three elements in the marketing
process :
(A) MARKETERS
(B)WHAT IS BEING MARKETED
(C) TARGET MARKET
6. WHAT IS MARKETING ?
Marketing is a social process by which
individuals and groups obtain what they need
and want through creating and exchanging
products and value with others
PHILIP KOTLER
This definition includes following core concepts :
NEEDS ,WANTS and DEMANDS ---
PRODUCTS------VALUE & SATISFACTION---
EXCHANGE & TRANSACTION---MARKETS
& MARKETERS
7. Simple definition:
Marketing is the management process responsible for identifying,
anticipating, and satisfying customer requirements profitably.”
(CIM,2001)
Goals:
1. Attract new customers by promising superior value.
2. Keep and grow current customers by delivering satisfaction.
8. NEED : A state of felt deprivation of
some basic satisfaction ( Food,
Clothing, Shelter, Belonging etc. )
WANTS : Wants are desires for specific
satisfiers of the deeper needs. Needs are
few and wants are many .
DEMANDS : are wants backed by ability to
buy and Willingness to buy
NEEDS,WANTS AND
DEMANDS
9. PRODUCTS / OFFERS / SATISFIERS /
RESOURCES
Anything that can be offered to someone
to satisfy a need or want is a product .
Product refers to physical object
Services refer to intangible object
10. Value is the customers’ estimate of the
Product’s capacity to satisfy a set of
goals
Value is the ratio between what the
customer gets and what he gives
(V=B/C)
Customer gets benefits & assume costs
WHEN :Customer Expectance=Performance (satisfied)
Customer Expectance>Performance (dis-satisfied)
VALUE AND SATISFACTION
11. EXCHANGE AND TRANSACTION
Exchange is the act of obtaining a desired
product by offering something in return .
Exchange takes place when 5 conditions are satisfied:
(a) Two parties should be there
(b) Each party must have something of value to the other
(c) Each party is capable of communication & delivery
(d) Each party is free to accept or reject the offer
(e) Each party believes that it is appropriate to deal with
the other party
12. EXCHANGE AND TRANSACTION
Exchange is a process rather than event.
It is a value creating process because it
normally leaves both parties better off.
A transaction is a trade of values between
two or more parties ( A BARTER
TRANSACTION OR A MONETARY
TRANSACTION ).
13. WHAT IS MARKET ?
A market consists of all the potential
customers sharing a particular need or
want who might be willing and able to
engage in exchange to satisfy that need or
want.
14. WHAT IS MARKETING ?
Marketing is the management process
which identifies, anticipates, and
supplies customer requirements
efficiently and profitably.
In other words, it is the process of
understanding, creating, and delivering
profitable value to targeted customers
better than the competition.
15. WHAT IS MARKETING ?
Its aim is to establish, maintain, enhance
long term relationship with customers at a
profit so that the objectives of the parties
involved are met.
In short marketing consists of attracting,
developing, and retaining profitable
customers.
16. BUSINESS IS MARKETING
Marketing can not be considered as a
separate function , it is the whole
business, seen from the point of view of
its final results.................that is
profit,through customer satisfaction
PETER DRUCKER
17. A SIMPLE MARKETING SYSTEM
Industry Market
Communication
Goods & Services
Money
Information/Feedback
18. WHAT IS MARKETING MANAGEMENT?
Marketing Management is the analysis,
planning, implementation and control of
programs designed to create, build and
maintain beneficial exchanges and
relationships with target markets for the
purpose of achieving Organisational
objectives.
19. WHAT IS MARKETING MANAGEMENT?
Marketing management is demand
management or it involves the task of
influencing the level, timing and
composition of demand. At times the
actual demand level may be below,
equal to, or above the desired demand
level and the major task of marketing
management is to regulate the level of
demand.
20. EVOLUTION OF MARKETING
MANAGEMENT
Marketing management has evolved
through following stages :
(1) Production Orientation Stage
(2) Sales Orientation Stage
(3) Marketing Orientation Stage
(4) Social Responsibility & Human Orientation Stage.
21. COMPANY ORIENTATION FOR
MARKETING ACTIVITIES
Marketing Management can be defined as the
effort to achieve desired EXCHANGE
outcomes with TARGET MARKETS.
Now the question arises :
(1)What philosophy should guide the
marketing activities?
(2)What weights should be given to the
interests of the organisation,the customers
and the society?
22. MARKETING CONCEPTS
There are FIVE competing concepts under
which organizations conduct their
marketing activities:
The Production Concept
The Product Concept
The Selling Concept
The Marketing Concept
The Societal Marketing Concept
23. (1) THE PRODUCTION CONCEPT
Produce
Sell
Consumers
Company
Produce more & more
Practically sells itself
24. THE PRODUCTION CONCEPT
Consumers will favour those products
that are widely available and low in cost.
Therefore increase production and cut
down costs.
And build profit through volume.
25. (2) THE PRODUCT CONCEPT
Produce
Quality
Products
Sell
Consumers
Practically sells itself,if
it gives most quality
for money
Buyers admire well-made products and can
appraise product quality and performance.
26. THE PRODUCT CONCEPT
Consumers will favour those products
that offer the most quality, performance,
or innovative features.
Therefore, improve quality, performance
and features.
This would lead to increased sales and
profits.
27. (3) SELLING CONCEPT
Consumers have normal tendency to resist.
Produce
Sell it Consumers
Aggressive selling &
promotion efforts
Making sales becomes primary function and
consumer satisfaction secondary .
28. THE SELLING CONCEPT
Consumers , if left alone , will not buy
enough of company’s products.
Therefore, promote sales aggressively.
And,build profit through quick turnover.
29. (4) MARKETING CONCEPT
“ LOVE THE CUSTOMER , NOT THE
PRODUCT ”
Consumers
Produce it
Market it
Learn what they
want
Sell what they want(Satisfy
needs of customers)
30. THE MARKETING CONCEPT
The key to achieving organizational goals
consist in determining the needs and
wants of target markets and delivering the
desired satisfactions more effectively and
efficiently than competitors.
And build profit through customer
satisfaction and loyalty.
31. (5) THE SOCIETAL MARKETING CONCEPT
It is Marketing Concept (+) Society’s well
being.
Balancing of following three considerations
while setting marketing policies :
-Customer’s want satisfaction
-Society’s well being
-Company’s profits
32. THE SOCIETAL MARKETING CONCEPT
The societal marketing concept holds that the
organization’s task is to determine the needs,
wants, and interests of target markets and to
deliver the desired satisfactions more
effectively and efficiently than competitors in
a way that preserves or enhances the
consumer’s and the society’s well being.
- It addresses conflicts between
consumer’s and firm’s short run wants and
long term welfare.
33. STRATEGIC CONCEPT OF MARKETING
Shifted the focus of Marketing from Product
or customer to the CUSTOMER IN THE
CONTEXT OF THE BROADER EXTERNAL
ENVIRONMENT .
To succeed, marketers must know the
customer in a context including the
competition, Govt. Policy& regulation and the
broader economic, social and political macro
forces that shape the evolution of market.
34. STRATEGIC CONCEPT OF MARKETING
Shifted the Marketing Objectives from
PROFIT TO STAKEHOLDER
BENEFITS.
Stakeholders are individuals or groups who
have an interest in the activity of a company .
They include-----The employees and management,
Customers, Society, Shareholders, Financiers/ Bankers,
Government etc.
35. STRATEGIC CONCEPT OF MARKETING
Strategic Marketing Concept is Strategic
Management, which integrates marketing
with the other management functions. (
Major task is Profit for Stakeholders’
benefits ).
36. MARKETING SYSTEM
Marketing is concerned with the flow of
goods and services from the points of
production to the points of
consumption. There is a systematic
arrangement of these functions of
marketing to move the goods and
services to the needy persons. This
system is essential to the creation of
time, place and possession utilities.
37. GOALS OF THE MARKETING SYSTEM
(1) MAXIMIZE CONSUMPTION
(2) MAXIMIZE CONSUMER SATISFACTION
(3) MAXIMIZE CHOICE
(4) MAXIMIZE LIFE QUALITY
38. THREE BASIC PRINCIPLES OF MARKETING
The essence of marketing can be
summarized in three great principles.
The first identifies the purpose and
task of marketing, the second the
competitive reality of marketing and
third the principal means for
achieving the first two.
39. THREE BASIC PRINCIPLES OF MARKETING
(1) . The Customer Value and Value
Equation :
V=B/P Where; V=Value
B= Perceived Benefits
P= Price
(Value is increased by increasing the numerator
and/or reducing the denominator)
40. THREE BASIC PRINCIPLES OF MARKETING
(2).Competitive or Differential Advantage :
The total offer must be more attractive than that
of the competition in order to create a
competitive advantage.
(3).Focus or the Concentration of
Attention : The task of creating
Customer Value at a Competitive advantage.
41. CUSTOMER AS THE CONTROLLING FUNCTION
Marketing Personnel
Production Finance
CUSTOMER
42. MARKETING AS THE INTEGRATIVE FUNCTION
Personnel Finance
Production
Marketing
CUSTOMER
43. THREE LEVELS OF MARKETING
Responsive Marketing
Anticipative Marketing
Need Shaping Marketing
44. RESPONSIVE MARKETING
It is the form of marketing when some
company defines an existing clear need
and prepare an affordable solution.
(Recognizing that women wanted to spend
less time for cooking and cleaning, led to
the invention of modern washing
machine, microwave oven etc.)
45. ANTICIPATIVE MARKETING
It is a form of marketing when a company
recognize an emergent or latent need, and
come out with an affordable solution.
Eg.. Pyuesh, Aqua… anticipated growing
market for bottled drinking water as the
quality of water deteriorated in many places.
Anticipative marketing is more risky than
responsive marketing;companies may come
into market too early or too late,or may even
be totally wrong about thinking that such a
market would develop.(eg. Dish washers in
Nepal)
46. NEED SHAPED MARKETING
•The broadest level of marketing occurs when a company
introduces product that nobody asked for and often
could not even conceive of.
(e.g. Sony Walkman, Sony Compact Disc )
•Late Akio Morita, founder and chairman of Sony,
who introduced these and many other new
products, summarized his marketing philosophy in
these words:“ I don’t serve markets. I create them.”