Marketing management for mba

1. Marketing Management
Lecture 1
Pallavi Banerjee

2. Introduction to Marketing
 Marketing is a critical business function that involves identifying and satisfying customer needs through the
creation, communication, and delivery of value.
 The goal of marketing is to create mutually beneficial exchanges between buyers and sellers that result in
customer satisfaction and company profits.
 Marketing involves a wide range of activities, including market research, product development, pricing,
promotion, and distribution.
 Marketing plays a crucial role in the success of any business, regardless of its size, industry, or location.

3. Marketing Scope
 Marketing scope refers to the various areas
and dimensions that marketing covers.
 Marketing scope can be classified into two
broad categories: micro-marketing and
macro-marketing.
 Micro-marketing focuses on the activities and
strategies used by firms to target and serve
specific customer groups or segments.
 Macro-marketing considers the broader social
and economic implications of marketing, such
as how marketing affects society, the
economy, and the environment.

4. Marketing Concepts
 The five key marketing concepts are production
orientation, product orientation, sales orientation,
marketing orientation, and societal marketing orientation.
 Production orientation emphasizes efficiency in production
and distribution and assumes that customers will buy
whatever products are readily available and affordable.
 Product orientation focuses on product design and quality
and assumes that customers will choose products that
offer the most features, performance, or innovation.
 Sales orientation emphasizes aggressive selling and
promotion to convince customers to buy existing products.
 Marketing orientation emphasizes understanding and
satisfying customer needs and wants through market
research, segmentation, targeting, and positioning.
 Societal marketing orientation emphasizes meeting the
needs of customers while also addressing broader social
and environmental concerns.

5. Marketing Philosophies
 Marketing philosophies are the underlying beliefs and values that shape a
company's approach to marketing.
 The three key marketing philosophies are market orientation, product
orientation, and sales orientation.
 Market orientation is the philosophy that firms should focus on understanding
and satisfying customer needs and wants to achieve long-term success.
 Product orientation is the philosophy that firms should focus on creating the
best products possible and assume that customers will recognize their value and
buy them.
 Sales orientation is the philosophy that firms should focus on aggressive selling
and promotion to maximize sales and profits.

6. Changing Marketplace
 The marketplace is constantly evolving due to
changes in technology, demographics, social
norms, and other factors.
 Marketers must adapt to these changes by
continuously monitoring and analyzing market
trends, consumer behavior, and competitive
activity.
 Some of the key trends that are currently
reshaping the marketplace include the rise of e-
commerce, the growing importance of social
media and digital marketing, the increasing
emphasis on sustainability and social
responsibility, and the changing preferences of
younger generations.

7. Role of
Marketing in
Organization
 Marketing plays a critical role in the success of any
organization by helping to identify and satisfy customer
needs and wants.
 Marketing helps organizations to differentiate
themselves from competitors, build brand awareness
and loyalty, and create sustainable competitive
advantages.
 Marketing also contributes to organizational growth and
profitability by generating sales revenue, increasing
market share, and expanding into new markets or
product categories.
 Marketing should be integrated into the overall strategy
and operations of the organization to ensure that it
supports and aligns with other functions such as
finance, operations, and human resources.

8. Company Orientation towards
the Marketplace
 A company's orientation towards the marketplace refers to its overall
approach to marketing and how it views its customers and competitors.
 There are three main types of company orientation: product orientation,
sales orientation, and market orientation.
 A product-oriented company focuses on creating and improving
products, with little consideration for customer needs or competitor
activity.
 A sales-oriented company focuses on aggressive selling and promotion,
with the assumption that customers will buy whatever products are
pushed on them.
 A market-oriented company focuses on understanding and satisfying
customer needs and wants, with the goal of building long-term
relationships and creating customer value.

9. Marketing Mix
 The marketing mix refers to the combination of product, price,
promotion, and place (distribution) that a company uses to satisfy
customer needs and wants.
 Product refers to the goods or services that a company offers to its
customers, and includes product design, features, quality,
branding, and packaging.
 Price refers to the amount that customers pay for a product, and
includes pricing strategies such as skimming, penetration, and
cost-plus pricing.
 Promotion refers to the various ways that a company
communicates with and persuades customers, and includes
advertising, personal selling, sales promotion, public relations, and
direct marketing.
 Place refers to the channels and locations through which a
company delivers its products to customers, and includes
distribution strategies such as direct selling, wholesalers, retailers,
and e-commerce

10. Thank You!