Marketing

1. Concept, Tools & Retention

2. A market is any place or body
where the sellers of a particular
good or service can meet with
the buyers of that goods and
service where there is a
potential for a transaction to
take place. The buyers must
have something they can offer
in exchange for there to be a
potential transaction.

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.

4. Thus Marketing concept is the way of life in
which all the resources of an organization are
mobilized to create, stimulate and satisfy the
consumer at a profit.
Marketing concept is a marketing
management philosophy that holds that
achieving organizational goals depends
on knowing the needs and wants
of target markets and delivering
the desired satisfaction better
than competitors.

5. The marketing concept rests on
four pillars:
 A) Target market,
 B) Customer needs,
 C) Integrated marketing, and
 D) Profitability.

6. TARGET MARKET
No company can
operate in every
market and satisfy
every need. Nor can
it always do a good
job within one
broad market.

7. Customer needs
Marketing is about
meeting needs of target
markets profitably.
The key to professional
marketing is to
understand their
customers’ real needs
and meet them better
than any competitor can.

8. INTEGRATED MARKETING
When all the departments of company
work together to serve the customer’s interests,
the result is integrated marketing.
Integrated marketing takes on
two levels.
 First, the various marketing functions-sales
force, advertising, product
management, marketing research, and so on –
must work together.
 Second must be well coordinated with other
departments of company.

9. PROFITABILITY
 The ultimate purpose of the
marketing concept is to help
organizations achieve their goals. In
the case of private firms, the major
goal is profit. Marketing managers
have to provide value to the customer
and profits to the organization.
Marketing managers have to evaluate
the profitability of all alternative
marketing strategies and decisions
and choose most profitable decisions
for long-term survival and growth of
the firm

10. 5 Marketing Concepts
Marketing philosophy/concepts has their evolution with the
industrial revolutions in mid 19th Century and undergone to
various changes and modifications from that time to modern
marketing era.
Some of famous marketing philosophies are –
 Production Orientation Philosophy
 Product Orientation Philosophy
 Sales Orientation Philosophy
 Customer Orientation Philosophy
 Social Orientation Philosophy

11. Marketing Tools are the
techniques and materials used by those
who are involved in
the promotion of goods and services.
Most business that need to sell their goo
ds or services to the public will make
extensive use of various marketing tools,
such as market
research and advertising to help further
their success.

12.  Marketplace,
 Market space,
 Marketers and Prospects
 Needs, Wants, and Demands
 Products
 Offers
 Brand Value
 Customer Satisfaction
 Advertisement
 Internet
 Research & Development
Some Important Marketing Tools

13.  Customer retention is about keeping the
customers you’ve invested in to acquire.
 Customer retention and customer retention marketing
are key components in maintaining a profitable
business. The goal of customer retention marketing is
to convert first-time or occasional buyers into
loyal, long term customers. And to accomplish this, a
business needs to understand what it is that converts
the occasional or first-time buyer into a loyal
customer. Through customer retention
marketing, businesses are able to uncover what it is
that makes this conversion happen.

14. Customer Retention Diagram

15. TOP 5 CUSTOMER RETENTION
MARKETING TACTICS
 A) Regular Communication
with Customized Content and
Special Offers. E.g. Big
Bazar, Nilgiri’s Strargy
 B) Customer service e.g.
Lenovo , LG, Samsung, Soni
 C) Listen (and then talk) e.g.
Twitter, AOC, LIC, TATA group

16.  D) Loyalty
programs, appreciation
awards and customer
referral rewards e.g.
Software companies like
pentacle
softwares, Microsoft etc.
 E) Bring Your Customers
Together e. g. custom
social networks, face book
or LinkedIn groups, etc