DEFINING MARKETING FOR THE 21st CENTURY WHAT IS MARKETED? DEMAND STATES Core MARKETING CONCEPTS MARKETING CONCEPTS Company orientation Towards marketplace COMPANY ORIENTATION Holistic Marketing Concept Understand four Ps (Marketing Mix) MARKETING TASKS

1. DEFINING MARKETING FOR THE 21st CENTURY
Prepared By,
Mr. Nishant Agrawal

2. Marketing is a societal process by which individuals and groups
obtain what they need and want through creating, offering and
freely exchanging products and services of value with others
Social Definition
Marketing is the process of planning and executing the
conception, pricing, promotion and distribution of ideas, goods
and services to create exchanges that satisfy individual and
organizational goals.
Definition
Marketing is about identifying and
Meeting human and social needs

3. 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 Definition

4. GOODS
SERVICES
EVENTSEXPERIENCES
PERSONS
PLACES
PROPERTIES
ORGANIZATIONS
INFORMATION
IDEAS

5.  Goods
• Physical goods.
• Indian Market cars , trucks, television sets, machines tools, machines,
watches, cosmetics etc
 Service
 It includes work of airlines, hotels, accounts, bankers, lawyers, engineers,
doctors, software programmers etc
 Events
 Market promotes time based events. Such as trade show, artists
performance, workshops, exhibition etc
 Experience
 Several services and goods amusement park or water park, customer enjoy
thrill provided by these experience

6.  Persons
 Artist, CEO, musicians, financiers, lawyers also get help from
celerity marketers. Ex. Salman Thumps Up
 Places
 Cities, states, nations compete to attract tourists, residents and
factories, etc. Tourism is Best Example of Place Marketing
 Properties
 They are bought and sold and these exchange required
marketing.

7.  Organization
 It works to build a strong , favorable and unique image in the
mind of their target public.
 Information
 The production, packaging and distribution information are
major industries. Information is essential.
 Ideas
 Every market offering includes a basic idea. Product and service
are platforms for delivering some ideas.
 Marketing has important role in influencing attitude and
behaviors.

8. •Consumer dislike the product and may even
pay to avoid itNegative Demand
•Consumer may be unaware of or
uninterested in the productNo Demand
•Consumer may share a strong need that
cannot be satisfied by an existing products.Latent Demand
•Consumer begin to buy the product less
frequently or not at allDeclining Demand
•Consumer purchase vary on a seasonal,
monthly, week, daily, or even hourly basisIrregular Demand
•Consumer are adequately buying all product
put into the marketplaceFull Demand
•More consumers would like to buy the
product than can be satisfies.Overfull Demand
•Consumer may be attracted to products that
have undesirable social consequences.Unwholesome Demand

9. Marketplace
Physical
Store
Marketspace
Digital
Internet
Metamarket
Cluster of
complementary
products
Spread across a
diverse set of
industries
Automobile
Metamarket describe a cluster of
complementary Product and service
closely related in minds of consumers

10. Needs, Wants and Demands
• Needs – Basic Human Requirements
• Wants – Directed at specific objects
• Demands – Backed by ability to pay
Target Markets, Positioning & Segmentation
Offerings and Brands
• Offering – Value Proposition made Tangible
• Brand – Offering from a known source
Value & Satisfaction
• Value – Benefits
• Customer Value Triad (Combination of QSP) – Quality, Service
and Price
• Satisfaction – Product’s perceived performance
Marketing Channel
• Communication Channel – Deliver & Receive message
• Distribution Channel – Display, sell & Deliver
• Service Channel – Carry out transactions

11. Needs, Wants and Demands
• Needs become wants when they are directed to specific
objects that might satisfy demand.
• Indian needs foods but may want chapattis, rice etc.
American needs food but may want rice, carrot, Salad etc.
• Wants are shaped by our society.
• Demands are wants for specific products backed by ability
to pay. Many people want BMW but only few are able to
buy one.

12. • Oldest Concept
• Consumers will prefer products that are widely available &
Inexpensive
• Concentrate on achieving high production efficiency, low
costs and mass distribution
• Eg: - Largest PC maker Lenovo
The Production Concept
• Consumers favor products that offer most quality,
performance and innovative features.
• Make superior products and improve them over time.
The Product Concept

13. • Consumers, if left alone, wont buy enough of the
organization’s products.
• Must undertake an aggressive selling and promotion effort.
• Practiced most aggressively with unsought goods.
• Eg:- Insurance
• Aim is to sell what they make rather than make what the
market wants.
The Selling Concept
• Customer Centered instead of Product Centered.
• Not to find right customers for your products, but to find
right products for your customers.
• Eg:- Dell
• Reactive Market Orientation – Understanding and meeting
customers’ expressed needs
• Proactive Market Orientation - Understanding and meeting
customers’ hidden needs
The Marketing Concept

14. Holistic
Marketing
Concept
Internal
Marketing
Performance
Marketing
Relationship
Marketing
Integrated
Marketing
Customers
Channel
PartnersSales Revenue
Brand & Customer
Equity
Ethics
Environment
Legal
Commodity
Communications
Products & Services
ChannelsMarketing
Dept
Senior Mgmt
Other Depts

15. • Holistic marketing concept is a part of the series on concepts of
marketing and it can be defined as a marketing strategy which
considers the business as a whole and not as an entity with various
different parts.
• According to holistic marketing concept, even if a business is made
of various departments, the departments have to come together to
project a positive & united business image in the minds of the
customer.
• The process of holistic marketing takes into account the
considerations of stakeholders, customers, employees, suppliers &
the community as a whole when creating and implementing
marketing strategies.

16. 1. Relationship Marketing
• Build strong, long-lasting relationships with various stakeholders
• It is a form of marketing that emphasizes customer retention and
satisfaction
• It differs from other forms of marketing in that it recognizes the long
term value of customer relationships
2. Integrated Marketing
• All activities within integrated marketing including advertising,
public relations, direct marketing, online communications
and social media marketing work in sync with one another to
ensure the customers & business partners have the same

17. 3. Internal Marketing
• Internal marketing ensures that employees are satisfied with the work they
perform each day as well as the philosophy and direction of the organization as a
whole.
• Greater satisfaction among employees leads to increased customer satisfaction
over time.
• The objective is to reduce departmental conflicts among the various business arms
within a single organization.
4. Performance Marketing
• It require understanding of financial and nonfinancial return to business and
Socially Responsive Marketing activities.
• Company should take into consideration what is in the best interest of society in
the present and long term.
• Socially responsible companies should aspire to produce desirable products.
• Desirable products provide immediate satisfaction and long term benefits.

18. Understand four Ps (Marketing Mix)
4Ps
Product
Price
Place
Promotion

19. 1. Product
• A product is seen as an item that satisfies what a
consumer demands. It is a tangible good or an
intangible service.
• marketer must also consider product development
strategies and product life cycle.
2. Price
• The amount a customer pays for the product. The
price is very important as it determines the
company's profit
• The marketer should set a price that complements
the other elements of the marketing mix.

20. 3. Place
• providing the product at a place which is convenient for
consumers to access.
4. Promotion
• All of the methods of communication that a marketer may
use to provide information to different parties about the
product.
• It comprises elements such as: advertising, public
relations, sales organisation and sales promotion.
5. Physical evidence
6. People
7. Process

21. Developing Marketing Strategies & Plan
Capturing Marketing Insights
Connecting with Customers
Building strong brands
Shaping the market offering
Delivering Value
Communicating Value
Creating Long-Term Growth

22. Nature of Marketing Management
1) It Combines the Fields of Marketing and Management
• As the name implies, marketing management combines the fields of marketing
and management.
• Marketing consists of discovering consumer needs and wants, creating the
goods and services that meet those needs and wants; and pricing, promoting,
and delivering those goods and services.
2) Marketing Management is a Business Process
• MM is a business process, to manage marketing activities in profit seeking and
non profit organisations at different levels of management, i.e. supervisory,
middle-management, and executive levels.
• MM decisions are based on strong knowledge of marketing functions and clear
understanding and application of supervisory & managerial techniques.

23. 3) Marketing Management is Both Science and Art
• “Marketing management is art and science of choosing target
markets and getting, keeping and growing customers through
creating, delivering and communicating superior customer value.” .
• Marketing management is a science because it follows general
principles that guides the marketing managers in decision making.
The Art of Marketing management consists in tackling every situation
in an creative and effective manner. Marketing Management is thus a
science as well as an art.

24. Assignments
1. What is marketing management? Explain different marketable entities
with suitable examples.
2. What is Managing Holistic Marketing Organization? Explain in detail
3. Define Marketing. Differentiate between Marketing and Selling with
suitable example(s).
4. Trends and forces defining the 21st century indicate that Holistic
Marketing will be the future of Marketing. List and explain the four broad
components of Holistic Marketing with relevant examples
5. Explain the basic philosophies of marketing.
6. Explain the nature and scope of marketing management

25. Thank You..!!
“Success is walking from failure to
failure with no loss of
enthusiasm”