The document provides an overview of marketing management, key concepts, and their applications, including the definitions of markets, needs, wants, demands, products, and services. It discusses various marketing philosophies such as production, product, selling, marketing, societal, and holistic marketing concepts, emphasizing the importance of creating customer value and relationship management. Additionally, it addresses contemporary marketing challenges including globalization, ethics, and the impact of technology.

1. 1
Marketing Management
Week 1

2. 2
Markets
The set of all actual and potential buyers of
a product or service
A simple marketing system
Industry
(a collection
of sellers)
Market (a
collection of
buyers)
Communication
Products / Services
Money
Information

3. 3
Core Marketing Concepts
To explain marketing definition, we
examine the following important
terms :
■Needs, wants, and demands
■Products and services
■Value, satisfaction and quality
■Exchange, transactions, and
relationships
■Markets

4. 4
Needs, Wants, and Demands
Needs: .
■ Human have many complex needs:
■ Physical needs for food, clothing, warmth, and safety
■ Social needs or belonging and affection
■ Individual needs for knowledge and self – expression
Wants:
■ Want are the form taken by human needs as they are shaped by
culture and individual personality.
Demands:
■ When backed by buying power, wants become demands.

5. 5
Products and Services
Product:
■ Anything that can be offered to a market to satisfy
a need or want.
■ The concept of product is not limited to physical
objects – anything capable of satisfying a need
can be called a product.
Services:
■ In addition to tangible goods, products also
include services, which are activities or benefits
offered for sale that are essentially intangible and
do not result in the ownership of anything.

6. 6
Values, Satisfaction, and Quality
Values:
■ Customer value is the difference between the values the customer
gains from owning and using a product and the costs of obtaining
the products.
Satisfaction:
■ Customer satisfaction depends on a product’s perceived
performance in delivering value relative to a buyer’s expectation.
Quality:
■ Customer satisfaction is closely linked to quality.
■ Quality has a direct impact on product performance.

7. 7
Relationships Marketing
Relationship marketing :
■ The process of creating, maintaining, and
enhancing strong, value – laden relationships with
customers and other stakeholders

8. 8
Marketing Management
The analysis, planning,
implementation, and control of
programs designed to create, build,
and maintain beneficial exchanges
with target buyers for the purpose of
achieving organizational objectives.

9. 9
Marketing Management Involves:
■ Demand Management : The organization has a
desired level of demand for its products. At any
point in time, There may be no demand, adequate
demand, irregular demand, or too much demand,
and marketing management must find ways to
deal with these different demand states.
■ Building Profitable Customer Relationships :
Beyond designing strategies to attract new
customers and create transactions with them,
companies now are striving to retain current
customers and build lasting customer
relationships.

10. 10
MARKETING MANAGEMENT PHILOSOPHIES
■ The role that marketing plays within a company
varies according to the overall strategy and
philosophy of each firm.
■ There are five alternative concepts under which
organizations conduct their marketing activities:
■Production concept
■Product concept
■Selling concept
■Marketing concept
■Societal marketing concepts
■Holistic Marketing Concepts

11. 11
Production Concept
The philosophy that consumers will
favour products that are available
and highly affordable and that
management should therefore focus
on improving production and
distribution efficiency.

12. 12
Product Concept
The philosophy that consumers will
favour products that offer the most
quality, performance, and innovative
features.

13. 13
Selling Concept
The idea that consumers will not buy
enough of the organization’s
products unless the organization
undertakes a large – scale selling and
promotion effort.

14. 14
Marketing Concept
The marketing management
philosophy that holds that achieving
organizational goals depends on
determining the needs and wants of
target markets and delivering the
desired satisfactions more effectively
and efficiently than competitors do.

15. 15
Societal Marketing Concept
The idea that the organization should
determine the needs, wants, and
interests of target markets and
deliver the desired satisfactions more
effectively and efficiently than
competitors in a way that maintains
or improves the consumer’s and
society’s well – being.

16. 16
Factory Existing
products
Selling
and
promoting
Profits through
sales volume
Starting
point
Focus Means Ends
The selling concept
Market Customer
needs
Integrated
marketing
Profits through
customer
satisfaction
The marketing concept
The selling and Marketing Concepts Contrasted

17. 17
Three Considerations Underlying The Societal
Marketing
Societal
marketing
concept
Society
(Human welfare)
Company
(Profits)
Consumers
(Want satisfaction)

18. Holistic Marketing Concept
■ Holistic marketing concept is a part of the series on concepts of marketing and it can
be defined as a marketing strategy which considers the business as a whole and not
as an entity with various different parts.
■ According to holistic marketing concept, even if a business is made of various
departments, the departments have to come together to project a positive &
united business image in the minds of the customer. Holistic marketing concept
involves interconnected marketing activities to ensure that the customer is likely to
purchase their product rather than competition.
■ Example of Holistic marketing concept
■ An organization will have different departments like sales and marketing, accounting
and finance, R&D and product development and finally HR and operations. Thus, if you
want to implement a holistic marketing concept in your organization, you need to
ensure that R&D and product development take the feedback from marketing and
sales to launch the product which is most likely to attract customers.
■ On the other hand they need to work closely with accounting and finance to find out
the exact budget for the project. Sales and marketing need to communicate to the HR
the right kind of people that they need, and finally, admin and operations need to
devise a plan to retain these people.
18

19. Key Concepts of Holistic Marketing
Internal marketing – Marketing
between all the departments in an
organization
Relationship marketing – Building a
better relationship with your
customers, internal as well as end
customers is beneficial for holistic
marketing.
Performance marketing – Driving the
sales and revenue growth of an
organization holistically by
reducing costs and increasing
sales.
Integrated marketing – Products,
services and marketing should
work hand in hand towards to
growth of the organization
19

20. 20
MARKETING CHALLENGES
INTO THE NEW CENTURY
■GROWTH OF NON-PROFIT MARKETING
■THE INFORMANTION TECHNOLOGY BOOM
■RAPID GLOBALIZATION
■THE CHANGING WORLD ECONOMY
■THE CALL FOR MORE ETHICS AND SOCIAL
RESPONSIBILITY