The document provides an introduction to marketing, defining it as the management of profitable customer relationships and the process of identifying and satisfying customer needs. It outlines the marketing management process, core concepts, and the evolution of marketing from production to customer-oriented practices. Additionally, it emphasizes the significance of understanding customer value and the tools used in marketing to enhance satisfaction and efficiency.

1. Introduction to Marketing
Prof Sujata Umesh Bolake

2. What is Marketing?
• Marketing is managing profitable
customer relationships
– Attracting new customers
– Retaining and growing current
customers
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3. Definitions of marketing
Marketing is the management process that identifies,
anticipates and satisfies customer requirements
profitably’ - The Chartered Institute of Marketing
• ‘The right product, in the right place, at the right
time, and at the right price’ - Adcock et al
• ‘Marketing is the human activity directed at
satisfying human needs and wants through an
exchange process’ - Kotler 1980

4. What is Marketing?
• Kotler’s social definition:
“Marketing is a social and managerial process
by which individuals and groups obtain what
they need and want through creating and
exchanging products and value with others.”
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5. Marketing management process
1. Analysis
Audit
1. Where are we now?
2. Where do we want to
be? 2.
5. Control
Objectives
3. Which way is best?
Marketing
4. Tactics - how do we get management
there? Getting there! process
5. Ensuring arrival
4. 3. Strategies
Implementation

6. Core Concepts
• Managerial Process involving analysis, planning and control.
• Carefully formulated programs and not just random actions
• Voluntary exchange of values; no use of force or coercion. Offer benefits.
• Selection of Target Markets rather than a quixotic attempt to win every market and
be all things to all men.
• Purpose of marketing is to achieve Organizational Objectives.
• Marketing relies on designing the organization’s offering in terms of the target
market’s needs and desires rather than in terms of seller’s personal tastes or
internal dynamics. User-oriented and not seller-oriented.
• Marketing utilizes and blends a set of tools called the marketing mix – product
design, pricing, distribution and communication. Too often marketing is equated
either with just advertising or with just personal selling.

7. Marketing Functions
Buying & Assembling Advertising Financing
Selling Marketing Research Market Information
Storage & Branding &
Pricing
Warehousing Packaging
Standardization &
Transportation Sales Promotion
Grading

8. Evolution of Marketing
Societal
Production Marketing
Sales Orientation Marketing
Orientation Orientation
Orientation
Late 1800s Early 1930s Mid 1950s 1990s

9. MARKETING vs. SELLING
Marketing starts with the buyer and Selling starts with the seller and is
focuses constantly on buyer’s preoccupied all the time with needs
Seeks to convert “customer needs” into Seeks to convert ‘products’ into “Cash
‘products
Views business as a customer satisfying Views business as a goods producing
process process
Marketing effort leads to the products The company makes the product first and
that the customers actually need then figures out how to sell
Marketing views the customer as the Selling views the customer as the last link
very purpose of the business in the business
Marketing communication is looked upon Seller’s motives dominate marketing
as a tool for communicating communication (promotions)

10. • WANTS AND DEMANDS
Human wants are desires for specific satisfiers of these deeper needs.
Demands are wants for specific products that are backed by an ability
and
willingness to buy them.
• VALUE AND SATISFACTION
Value = Benefits = Functional Benefits Emotional Benefits
Cost Monetary Costs + Time Costs + Energy Costs +Psychic
Costs
Tools for tracking and measuring Customer Satisfaction:
Complaint and Suggestion systems, Customer satisfaction surveys

11. • Marketing Myopia
• It was developed by American Professor ‘Theodore Levitt –
1960.
• Acco to him Marketing Myopia is a short sighted, narrow
minded view of marketing and its environment and it must
be avoided at all cost.
• It is an Inefficient ,complacement marketing approach
• Mr. Levitt is of opinion that the business must be viewed as a
customer satisfaction process rather than o goods producing
process

12. Holistic Marketing Orientation & Customer Value
• Marketing is becoming more complex & dynamic.
• Earlier production was with accordance to order of
customers. Producer ↔ Customer
• Due to expansion of production market has also expanded
• Appointment of Middle man & sales person to collect the
order
• Need of buyer were also consider as important aspect of
business

13. CUSTOMER VALUE
• Value Exploring – How can
company identify new value
opportunities Value
Exploration
• Value Creating – How can a Value
Creation
company create more
Value
promising new values Delivery
offering?
• Value Delivering – How
companies use into Marketing
capabilities and infrastructure
to deliver the new value
offering more efficiently.

14. Importance of Marketing
• Increasing National Income
• Low Prices
• Better Standard of Living
• Employment Orientation