This document provides an overview of key marketing concepts and terms. It discusses the marketing concept of creating value for customers to build relationships and capture value in return. It also summarizes market offerings, market segmentation, the marketing mix of product, price, place and promotion, and the importance of strategic planning, analysis, implementation and control in effective marketing management. Customer value, satisfaction, and equity are important goals. Partner relationships within a company and across the value chain are also emphasized.

1. MARKETING
MARKETING
The process by which companies create value for customers and build strong relationships in order to
capture value from customer’s in return.
Market offering
Some combination of products, services, information or experiences offers to a market to satisfy a
need or want.
Market
The set of all actual and potential buyers of a product of service.
Marketing Management
The art and science of choosing target markets and building profitable relationship with them.
Production Concept
The idea that consumers will favor products that are highly available and affordable and that the
organization should therefore focus on improving production and distribution efficiency.
Product Concept
The idea that consumer will favor products that offer the most quality, performance and features and
that the organization should therefore devote its energy to making continuous product improvement.
Selling Concept
The Idea that consumer will not buy enough of the firm’s products unless it undertakes a large scale
selling and promotion efforts.
Marketing Concept
The marketing management philosophy that achieving organizational goal depends on knowing the
needs and want of target markets and delivering the desire satisfaction better than competitors do.
Customer relationship management
The overall process of building and marinating the profitable customer’s relationship by delivering
superior customer value and satisfaction.
Customer perceived value

2. The customer’s evolution of the difference between all the benefits and all the cost of the market
offering relative to those of the competing offers.
Customer’s satisfaction
The extent which products perceived performance matches a buyer’s expectations.
Partner relationship management
Working closely with partners in other company department and outside the company to jointly bring
greater value to customer.
Customer Equity.
The total combined customer lifetime values all of the company’s customers.
Marketing Process
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Strategic planning
The process of developing and maintaining a strategic fit between the organizations goal and
capabilities and its charging marketing opportunities.
Steps in strategic planning
Step1--- Corporate level
Defining the companies mission
Mission Statement – A statement of the organization’s purpose –what it wants to accomplish in the
larger environment.
Setting companies objectives and goals
Designing the business portfolios
Analyzing the current business portfolio
Business Portfolio—the collection of business and products which make up the company.
Portfolio analysis—the process by which management evaluates the products and business making
up the company.
Growth share Matrix

3. A portfolio- planning method that evaluates a company’s strategic business units in terms of their
market growth rate and relative market share. SBU’s are classified as starts, Cash cows, question
marks or dogs.
Developing strategy for growth and downsizing
Product market expansion grid depends of four factors
Market Penetration-
A strategy for company growth by increasing sales of current products to current market segment
without changing the product.
Market Development
A strategy for company growth by identifying and developing new market segment for current
company products.
Product Development
A strategy for company growth by offering modified or new products to current markets segment.
Diversification
A strategy for company growth through starting up or acquiring business outside the company’s
current products and markets.
Downsizing
Reducing the various portfolio by eliminating products of business unit that are not profitable or no
longer fit for the company overall strategy.
Step 2. Business Unit
Planning and marketing and other functional strategies.
Partnering with other company’s department
Each company department can be taught as of as a link in the company of a value change, each
department carries out value creating activities to design, produce market deliver and support the
company’s product.
Partnering with other’s in the marketing system

4. Companies’ today are partnering with other members of the supply chain to improve the performance
of the customer value delivering network.
Value delivering network suppliers
The network made up of the company supplier, distributors and ultimately customers who partner
with each other to improve the performance of the entire system.
Marketing Strategy and marketing mix
Marketing Strategy
The marketing logic by which the business unites hope to achieve its marketing objectives.
Customer driven marketing strategy
1. Companies know that they cannot profitably serve all consumers in a given market as there
are different kinds of consumers with different needs. So most companies position their
products in segments. So each company divides the total market in to best segments so as to
create value for the customers. This process involves market segmentation target marketing,
differentiation and market positioning.
Market Segmentation
Dividing the market into distinct groups of buyers who have distinct needs, characteristic or
behavior and who might require separate products or marketing programmers.
Market Segment
A group of consumers who respond in a similar way to a given set of marketing efforts.
Market targeting
The process of evolution of each market segments attractiveness and selecting one or more
segment to enter.
Positioning
Arranging for a product to occupy a clear, distinctive and desirable place relative to competing
products in the minds of target customers.
Differentiation
A faculty differentiating the market offering to create superior customer value.
2. Developing an Integrated Marketing Mix

5. After deciding overall marketing strategy a company is ready to begin planning the details of
the marketing mix. This is one of the major’s concepts of the modern marketing. Marketing
Mix consists of four variables-4p’s Product, price, promotion and place.
Product means goods and services combination offered by the company to the target
customers.
Price is the amount of money customers have to pay to obtain the product.
Place- It includes companies’ activities that make the product available to the target
customers
Promotion means activities that communicate the merits of the products and persuade the
target customers to buy it.
Marketing Mix.
The set of controllable tactical marketing tools product price place and promotion that the
firm blends to produce the response it wants in the target market.
Managing the marketing effort
In addition to the marketing companies also needs to pay attention to the management of
marketing. Managing in the marketing process requires four
functions
Analysis, Planning, Implementation and control
Marketing Analysis.
Managing marketing functions begins with complete analysis of the companies functions
hence companies should conduct SWOT analysis.
S- Strength
W—Weakness
O- Opportunity
T- Threat
Strength includes internal resources capabilities and causing to situational factors
Weakness includes internal resource, internal limitation, negative situational factors which
may interface with companies performance.
Opportunities are favorable factors.
Trends in the external environment company may exploit to its advantage.

6. Threats are unfavorable external factors which may pose challenge to the company.
Marketing Planning
It involves decision on marketing strategies that will help the company to achieve it’s
objective. A detail marketing plan is needed for each business,
product or brand.
Implementation
The process that turns the marketing strategy and plans into marketing actions in order to
accomplish strategic marketing objectives.
Marketing Control
Many business surprises occur during implementation of marketing plan. In the marketing
department must practice marketing control.
Marketing control is a process of measuring and evaluating the results of marketing
strategies and plans and taking corrective action to ensure that the
objectives are achieved.
Marketing Control
A measure tool for the marketing control is the marketing audits.
Marketing Audits
It is a comprehensive, systematic, independent and periodic examination of a company’s
environment objectives strategies and activities to determine
problem area and opportunities and to recommend a plan of action
to improve the company’s marketing performance.
Marketing Environment
The actors and forces outside marketing that affects marketing management ability to build
and maintain successful relationship with the target customers.
Micro Environment
The actors close to the company that affects its ability to serve its customers-the company
supplier, marketing intermediaries, customer market, competitors
and public.
Macro Environment
The Larger societal forces that affects the micro environment, demographic, economic,
natural, technological and cultural forces.

7. The companies’ micro environment
Marketing management is to build relationship with customers by creating customer values and
satisfaction marketing managers cannot do this alone they have to involve other actors in marketing
micro environment like relationship with other company department suppliers marketing
intermediaries, customers, competitors, and various publics.
The company
It designs in marketing plan. Marketing management takes other companies group into account such
as top management, finance, research, r&d, purchasing, operations, and accounting. All the
departments should function closely and coordinate to have a successful marketing plan. All these
functions must think of consumers.
Suppliers
Suppliers form important link in overall company’s customer values delivery system. Supplier’s
problem can seriously affect marketing. Like Supply Shortage, delay, Labor Strikes, rising supply cost,
etc.
Marketing manager should monitor trends of the key inputs (raw materials).
Marketing Intermediaries.
Firms that help the company to promote to sales and distributes its products to final buyers or
consumers. They include distributors, retailers, marketing services agencies and financial
intermediaries.
Physical Distribution firms help the companies to stock and move goods from their origin points to
their destinations.
Marketing Services Agencies are marketing research firms, advertising agencies, media firms, and
marketing consulting firms. Financial Intermediaries includes banks, credits companies, insurance
companies, etc.
Customers
A company needs to study five type of customer market closely.
Consumer Market – Consist of individuals, Households that buy goods and services for personal
consumption.
Business Markets- Buy goods and services for further processing are used in production process
Reseller Market—Buy Goods and services to resell at a profit.

8. Government Markets-- It is made up of government agencies buying goods and services to produce
public service.
International Markets—Includes consumers in the other countries.
Competitors – The marketing concept says that to be successful a company must provide greater
customer value and satisfaction that its competitors, so company should do more than the
competitors do.
Publics--- Any Market that has an actual or potential interest in or impact on an organization’s ability
to achieve its objectives.
There are 7 types of publics.
1. Financial Publics—
It influences the company’s ability to obtain funds. Banks, investment houses, and stock-holders are
the major financial publics.
2. Media Publics-
It carries news, features and editorial opinions. They include newspapers, magazines and
radio and television stations.
3. Government Publics
Management must take government developments into account. Marketers must often
consult the company’s lawyers on issues of product safety, truth in advertising and other
matters.
4. Citizen- action publics
A company’s marketing decisions may be questioned by consumer organizations,
environmental groups, minority groups, and others. Its public relations department can help
it stay in touch with consumer and citizen groups.
5. Local publics
It includes neighborhood residents and community organizations. Large companies
usually appoint a community relations officer to deal with the community, attend
meetings, answer questions, and contribute to worthwhile causes.
6.General public

9. A company needs to be concerned about the general public’s attitude toward its
products and activities. The public’s image of the company affects its buying.
7. Internal Publics
It includes workers, managers, volunteers, and the board of directors. Large
companies use newsletters and other means to inform and motivate their
internal publics. When employees feel good about their company, this positive
attitude spills over to external publics.

10. please find the attachments and go through list , to select your brand . Assignment should be
handwritten.
Submission Date :30/11/2011 Wednesday in class
Following are the text and referred books for Strategic Brand Management:
1.Strategic Brand Management- Kevin lane keller,Parameashwaran & Isaac jacob
2.Brand positoning - Subroto Sengupta
3.Strategic Brand Management- Richard Elliot & Larry percy
4.Compedium of Brand Management- S.A.Chunawalla