Marketing is “The management process of anticipating, identifying and satisfying customer requirements profitably” (CIM, 2001). •According to “The American Marketing Association” -“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (AMA, 2007). Dr

1. UNIT 1
MARKETING MANAGEMENT
Dr. Amitabh Mishra 1

2. ELEMENTS/CORE CONCEPS
OF
MARKETING
Consumer, Buyer & Customer,
Needs, Wants And Demand,
Product
Etc.
Dr. Amitabh Mishra 2

3. CONSUMER, BUYER
&
CUSTOMER
Dr. Amitabh Mishra 3

4. Consumer
• “Consumer are those who perform the act of
consumption.”
• “One who perform the act of consumption”
Dr. Amitabh Mishra 4

5. • “Consumption can be defined as the activity
involving the use of goods and services to
satisfy the wants”.
• Ex-
• Eating
• Drinking
• Wearing of cloths.
Dr. Amitabh Mishra 5

6. Customer
• “Customer refers to one who provides the custom to a given
selling outlet on a regular basis. As long as the person
patronizes the same outlet again and again, he is the
customer of that outlet”.
Dr. Amitabh Mishra 6

7. Buyer
• “Buyer purchases the
product from anywhere,
patronizes the different
outlets at different
point of time”.
Dr. Amitabh Mishra 7

8. NEEDS, WANTS
AND
DEMAND
The marketer must understand customer’s needs,
wants and demands.
Dr. Amitabh Mishra 8

9. Needs
• Needs describe some basic human requirements.
• “A human need is a state of deprivation of some
basic satisfaction”.
Dr. Amitabh Mishra 9

10. • These are not created by society or marketers.
• They exist in the very texture of human
biology & condition.
Dr. Amitabh Mishra 10

11. • People require-
– Food,
– Clothing,
– Shelter,
– Safety,
– Belonging &
– Esteem.
Dr. Amitabh Mishra 11

12. Wants
• “Wants are desires for specific satisfiers of
needs”.
• Needs are few, wants are many & are
continually shaped & reshaped by social
forces & institutions.
Dr. Amitabh Mishra 12

13. Dr. Amitabh Mishra 13
NEEDS WANTS
NEEDS WANTS
NEEDS WANTS

14. Demands
• “Demands are Wants for specific products that are
backed by an ability & willingness to buy them”.
• Wants become demand when supported by
purchasing power.
Dr. Amitabh Mishra 14

15. PRODUCT
Goods, Services etc.
Dr. Amitabh Mishra 15

16. Product or Offering
“A product is anything that can be offered to satisfy a
need or a want”
A marketer’s job is to sell the benefits or services built
into physical products.
Dr. Amitabh Mishra 16

17. MARKETING :
Meaning & Definition
Dr. Amitabh Mishra 17

18. • According to “The Chartered Institute Of Marketing” -
Marketing is “The management process of anticipating,
identifying and satisfying customer requirements profitably”
(CIM, 2001).
• According to “The American Marketing Association” -
“Marketing is the activity, set of institutions, and processes for
creating, communicating, delivering, and exchanging offerings
that have value for customers, clients, partners, and society at
large” (AMA, 2007).
Dr. Amitabh Mishra 18

19. • According to Philip Kotler-
“Marketing is a social &
managerial process by which
individuals & groups obtain
what they need & want through
creating, offering & exchanging
products of value with others”.
Dr. Amitabh Mishra 19

20. • “Marketing management is the process of planning
and executing the conception, pricing, promotion,
and distribution of ideas, goods, services, to create
exchanges that satisfy individual and organizational
goals”
Dr. Amitabh Mishra 20