This document discusses marketing and its importance. It defines marketing as the management process of identifying, anticipating, and satisfying customer requirements profitably. The importance of marketing includes helping to achieve and maintain higher standards of living through mass production and increased purchasing power. Marketing also increases national income, helps maintain economic stability and development, and links producers and consumers. Key marketing concepts are determining customer needs, satisfying those needs through products and services, and ensuring satisfied customers generate profits. The responsibilities of marketing management involve analyzing markets, setting goals, developing strategies and policies, and organizing marketing activities.

1. MARKETING

2. - Market vs Marketing
– Market is an arrangement to provide an opportunity to exchange
goods.
– Marketing is sum total of all those activities that are related to flow of
goods from production to consumption

3. WHAT IS MARKETING?
The Chartered Institute of Marketing:
“The management process responsible for
identifying, anticipating and satisfying
customer requirements profitably."

4. IMPORTANCE OF MARKETING
1. Marketing helps to achieve, maintain and raise
the standards of living
- Marketing is means through which production and
purchasing power are converted into consumption.
- Better marketing  Mass production
- Mass production  Low cost
- Low cost  More buying power  Higher standard
of living

5. IMPORTANCE OF MARKETING
2. Marketing increases national income
- More purchasing power  increase in national
income
3. Helps maintain economic stability &
development
- By maintaining demand supply balance

6. IMPORTANCE OF MARKETING
4. Link between producer & consumer
5. Removes imbalance of supply & demand by
transferring surpluses
6. Helps create utilities of time, place &
possession

7. Marketing Concepts
- Starts with determination of consumer needs
- Ends with satisfaction of these needs
- Organizational activities revolve around customer
- Products & Services are designed to serve customer
needs
- Satisfied customer will only produce profits

8. Marketing Sales
Approach
determine future needs and has a
strategy in place to meet those needs
for the long term relationship.
makes customer demand match the
products the company currently
offers.
Focus
fulfill customer's wants and needs thru
products and/or services the company
can offer.
fulfill sales volume objectives
HorizonLonger term Short term
Scope
Identifying customer needs (research),
creating products to meet those needs,
promotions to advertise said products.
Once a product has been created for
a customer need, persuade the
customer to purchase the product to
fulfill her needs
Sales v/s Marketing

9. Clash is being cont…
Marketing Sales
Strategypull push
ConceptMarketing is a wider concept Sales is a narrower concept
Priority
Marketing shows how to reach to
the Customers and build long
lasting relationship
Selling is the ultimate result of
marketing.
Identity
Marketing targets the construction
of a brand identity so that it
becomes easily associated with need
fulfillment.
Sales is the strategy of meeting
needs in an opportunistic,
individual method, driven by
human interaction. There's no
premise of brand identity,
longevity or continuity. It's simply
the ability to meet a need at the
right time.

10. Benefits of Marketing Concept
1. Long Term success
2. Faster penetration
3. Better Products
4. Boosts creativity
5. Integrated functions
6. Mostly in profits
7. Better growth of employees
8. Contributes to overall growth of the society

11. Responsibilities of Marketing
Management
1. Market analysis
2. Set Goals
3. Forecast sales & profits
4. Strategies, policies & procedures
5. Evolve appropriate marketing mix
6. Organize marketing activities
7. Organize resources
8. Participation in product planning
9. Managing Supply chain
10. After Sales activities

13. THANK YOU

14. Prepared by
Nehal Mehta