Marketing Management intro

1. Introduction
Aishwarya Kelkar

2. What Is Marketing?
Marketing is a process by which companies
create value for customers and build strong
customer relationships to capture value from
customers in return.
Copyright ©2014 by Pearson Education, Inc. All rights reserved

3. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-3
What Is Marketed?
• Goods
• Services
• Events
• Experiences
• Places

4. What Is Marketed?
• Persons
• Properties
• Organizations
• Information
• Ideas

5. Who Markets?
A marketer is someone who seeks a response – attention , a
purchase , a vote , a donation – from another party , called the
prospect

6. Reactive and Proactive Marketing
Proactive marketing is a
form of marketing that
allows for marketers to be
agile, real-time, data-
driven, and adaptable to
the ever-changing space of
what their customers could
be seeking.

7. Reactive and Proactive Marketing
Reactive
marketing is
a marketing
strategy that
takes place
because of
unforeseen
competition.

8. Core Customer and Market place
Concepts

9. Needs, Wants and Demand
•States of deprivation
•Physical—food, clothing, warmth, safety
•Social—belonging and affection
•Individual—knowledge and self-expression
Needs
•Form that needs take as they are shaped by culture
and individual personalityWants
•Wants backed by buying power
Demands
Copyright ©2014 by Pearson Education, Inc. All rights reserved

10. Types of Needs
Stated
Real
Unstated
Delight
Secret

11. Demand States
 Negative :The product might be beneficial but the customer doesn’t want it
Hospitals,Vaccinaions
 Nonexistent : Consumers may be unaware of/uninterested in the product,eg-
Foreign language courses
 Latent :Consumers may share a strong needthat cannot be satisfiedby an existing
product,eg- Laptops with better battery life
 Declining : Consumers begin to buy the product less frequently or not all,eg-
bottled water
 Irregular : Consumer purchases vary on a seasonal,monthly,weekly,daily or even
hourly basis,eg-Hotels,Umbrella,
 Unwholesome:Consumers may be attracted to products that have undesirable
social consequences,eg- Cigarettes,Alcohol
 Full :Consumers are adequately buying all products put into the market place,eg-
Medicines
 Overfull :More consumers would like to buy the product that can be satisfied,eg-
wheat,rice

12. Market Offerings – Products, Services
and Experiences
 Market offerings are some combination of products, services,
information, or experiences offered to a market to satisfy a
need or want
 Marketing myopia is focusing only on existing wants and
losing sight of underlying consumer needs

13. Customer Value and Satisfaction
Customers
• Value and
satisfaction
Marketers
• Set the right level of
expectations
• Not too high or low

14. Market place, Market space and Meta
markets
Market place – Markets of physical
goods
Market space – Digital Shops or
Shopping websites
Meta markets – The combination of
an intangible market such as the
internet, promoting closely related
tangible or intangible products

15. Exchanges and Relationship
Exchange is the act of obtaining a desired object from
someone by offering something in return.
Marketing actions try to create, maintain, grow exchange
relationships.

16. Company Orientations
Production
Product
Selling
Marketing

17. The Production Concept
• It holds that consumers prefer products that are
widely available and inexpensive.
• Product-oriented businesses concentrate on
achieving high production efficiency, low costs and
mass distribution.
• Eg- Ball-point Pens

18. The Product Concept
• It is a process of evolving a product from time to
time and/or providing the best quality product in
order to achieve satisfaction from customer.
• The product concept proposes that consumers
favor products offering the most
quality,performance or innovative features.
• Eg- Apple

19. The Selling Concept
Consumers will not buy enough of the firm’s
products unless it undertakes a large scale
selling and promotion effort.
Eg- Insurance

20. • Marketing concept is knowing the needs and wants of the target
markets and delivering the desired satisfactions better than
competitors do.
• The marketing concept holds that the key to achieving
organizational goals is being more effective than competitor’s in
creating , delivering and communicating superior customer value
to your target markets.
Eg- Dell
The Marketing Concept

21. Holistic Marketing
Holistic marketing concept is based on the development ,
design, and implementation of marketing programs ,
processes and activities that recognize their breadth and
interdependencies.

22. Holistic Marketing

23. Relationship Marketing
Relationship marketing aims to build mutually satisfying
long-term relationships with key constituents in order to earn
and retain their business.
The ultimate outcome of relationship marketing is a unique
company asset called a marketing network (comprising of
customers,employees,suppliers,distributors,retailers).

24. Relationship Marketing
• Focus on most profitable customers , products and channels ,
firms hope to achieve profitable growth
• Capturing a large share of each consumer’s expenditures by
building high customer loyalty
• Estimate individual customer lifetime value
• Design their market offerings and prices to make a profit over the
customer’s lifetime

25. Integrated Marketing
Integrated marketing occurs when the marketer
devises marketing activities and assembles marketing
programs to create , communicate and deliver value
for consumers such that “the whole is greater than
the sum of its parts. ”

26. Internal Marketing
Internal marketing is the task of hiring,
training and motivating able employees who
want to serve customers well.
Eg.- Passport Seva Kendra

28. Performance Marketing
• Performance marketing requires understanding the
financial and non-financial returns to business and
society from marketing activities and programs.
• Marketers are going beyond sales revenue to examine
the marketing scorecard and interpret what is happening
to market share , customer loss rate, customer
satisfaction , product quality.
• PESTLE effects of marketing activities and programs.