This document discusses key concepts in marketing management including definitions of marketing, marketing management, needs, wants and demands. It describes different types of demands and marketing philosophies like the production concept, product concept, selling concept, and marketing concept.
The key points are:
- Marketing is defined as delivering customer satisfaction at a profit by creating and exchanging products to satisfy needs and wants.
- Marketing management involves analyzing, planning, implementing and controlling programs to create value for customers and achieve organizational goals.
- Needs become wants when directed at specific products, and demands are wants backed by an ability and willingness to pay.
- Different philosophies like production, product, selling, and marketing concepts focus on efficiency,
Marketing seminar conducted for a hotel in Metro Manila, training material for non marketing personnel who just need a snap shot of how marketing works for them to use in their respective job.
If you need a copy of the Power point presentation email your request @ dngrtz2000@hotmail.com, will send you your copy immediately.
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Marketing seminar conducted for a hotel in Metro Manila, training material for non marketing personnel who just need a snap shot of how marketing works for them to use in their respective job.
If you need a copy of the Power point presentation email your request @ dngrtz2000@hotmail.com, will send you your copy immediately.
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This Powerpoint and embedded videos provide a quick overview of conventional marketing and begin to introduce how this approach has produced both benefits and unintended consequences.
CHAPTER 1: MARKETING PRINCIPLES AND STRATEGIES
Lesson 1: Marketing and its Traditional Approaches
Lesson 2: Goals of Marketing
Lesson 3: Contemporary Approaches to Marketing
Credits: Principles of Marketing of Dr. Serrano- K-12
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Chapter 1 DEFINING MARKETING FOR THE 21st CENTURYNishant Agrawal
DEFINING MARKETING FOR THE 21st CENTURY
WHAT IS MARKETED?
DEMAND STATES
Core MARKETING CONCEPTS
MARKETING CONCEPTS
Company orientation
Towards marketplace
COMPANY ORIENTATION
Holistic Marketing Concept
Understand four Ps (Marketing Mix)
MARKETING TASKS
Marketing Defined:
“Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others”
Marketing is about managing profitable customer relationships
Attracting new customers
Retaining and growing current
Understand the marketplace and customer needs and wants
Design a customer-driven marketing strategy
Construct a marketing program that delivers superior value
Build profitable relationships and create customer delight
Capture value from customers to create profits and customer quality
Need
State of felt deprivation
Example: Need food
Wants
The form of needs as shaped by culture and the individual
Example: Want a Big Mac
Demands
Wants which are backed by buying power
CHAPTER 1: MARKETING PRINCIPLES AND STRATEGIES
Lesson 1: Marketing and its Traditional Approaches
Lesson 2: Goals of Marketing
Lesson 3: Contemporary Approaches to Marketing
Credits: Principles of Marketing of Dr. Serrano- K-12
Business Fundamentals: Introduction to Marketing Danny Chan
The workshop I provided for General Assembly's Business Fundamental Course. The deck provides an introduction to key marketing concepts, a brief introduction into the Inbound Marketing Methodology and covers some actionable takeaways, such as landing page optimization, best blogging practices and some useful anecdotes for those interested in understanding basic marketing principles.
Chapter 1 DEFINING MARKETING FOR THE 21st CENTURYNishant Agrawal
DEFINING MARKETING FOR THE 21st CENTURY
WHAT IS MARKETED?
DEMAND STATES
Core MARKETING CONCEPTS
MARKETING CONCEPTS
Company orientation
Towards marketplace
COMPANY ORIENTATION
Holistic Marketing Concept
Understand four Ps (Marketing Mix)
MARKETING TASKS
Marketing Defined:
“Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others”
Marketing is about managing profitable customer relationships
Attracting new customers
Retaining and growing current
Understand the marketplace and customer needs and wants
Design a customer-driven marketing strategy
Construct a marketing program that delivers superior value
Build profitable relationships and create customer delight
Capture value from customers to create profits and customer quality
Need
State of felt deprivation
Example: Need food
Wants
The form of needs as shaped by culture and the individual
Example: Want a Big Mac
Demands
Wants which are backed by buying power
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2. Marketing Management
Marketing and Marketing Management
Why is Marketing Important?
Needs, Wants and Demands
Different Types of Demands
3. Marketing
Marketing is the delivery of customer satisfaction at a
profit
Marketing is the social and managerial process whereby
individuals and group obtain what they need and want
through creating and exchanging products and values
with others
It has two fold:- 1. Attract new customers by promising
superior value
2. Keep current customer by delivering
satisfaction
4. Marketing Management
As per Kotler “ Creating, Communicating
and Delivering Customer value at the
profit”
5. Marketing Management
The analysis, planning, implementation
and control of programs designed to
create, build, and maintain beneficial
exchange with target buyers for the
purpose of achieving organizational
objective
6. Needs , Wants and Demand
Need is a state of felt deprivation. They include
basis physical needs like food, cloth, safety etc.
needs were not invented
Needs become wants when they are directed to
specific objects that might satisfy the need
e.g. A consumer in the US needs food but may
wants hamburger or soft drink
Wants are shaped by our society
7. Demand
Demands are wants for specific products
backed by an ability to pay and willingness
to pay.
e.g. Many people want a Mercedes, only a
few are willing and able to buy one.
Marketers don't create need,
Marketers along with other societal
factors influence wants.
8. Types Of Demand
1. Negative Demand A major part of
the market dislikes the product and
may even pay a price to avoid it—
vaccinations, dental work,
vasectomies, and gallbladder
operations, for instance. Employers
have a negative demand for ex-
convicts and alcoholics as
employees.
9. Cont…
2 No demand Target consumers may
be unaware of or uninterested in the
product. Farmers may not be interested
in a new farming method, and college
students may not be interested in
foreign-language courses. The marketing
task is to find ways to connect the
benefits of the product with people’s
natural needs and interests.
10. Cont…
3 Latent Demand Consumers shares a
strong want which can’t be satisfied by
existing one
4 Declining Demand buy less frequently
or not at all
11. Cont….
5. Irregular Demand Seasonal, Monthly, weekly
6. Full Demand Demand= Supply
7. Overfull Demand Demand> Supply
8. Unwholesome Demand Attracted to products
that have undesirable social consequenses
12. Why Study Marketing
Plays an important role in society
Vital to business survival, profits and
growth
Offers career opportunities
13. What is Marketed?
10 things
1. Goods
2. Services
3. Events ( Olympics &
world Cup)
4. Experiences
5. Persons
6. Places
7. Organisation
8. Information
9. Properties
10. Ideas
14. To Do work..
Refer to previous slides and give two
examples in each categories……………..
25. Marketing management philosophies
The Production Concept
The Product Concept
The Selling Concept
The Marketing Concept
The Holistic Marketing Concept
26. The production Concept
It tells that consumers will prefer products that
are widely available and inexpensive
This orientation makes sense in developing
countries like China and India where population
are huge and labors are cheap
Marketers concentrate on achieving high
production efficiency, low costs and mass
distribution.
27. The Product Concept
This concept says that consumer favor
products that offer the most quality,
performance or innovative features
Managers in these organizations focus on
making superior product and improving
them over time
28. The Selling Concept
The idea of this concept is that consumers
will not buy enough unless the
organization undertakes a large scale
selling and promotion effort
This concept is basically practiced with
unsought goods, goods that buyers
normally don’t think of buying such as
insurance and encyclopedia
29. The Marketing Concept
Product only those goods which can sell
Make product according to need and want
Have eyes on the competitors
The job is not to find the right customers for
your products, but to find the right products for
your customers
30. The Holistic Marketing Concept
This concept based on the development, design,
and implementation of marketing program
Holistic marketing recognizes that everything
matters in marketing and that a broad,
integrated prospective is often necessary
Relationship marketing, Integral Marketing,
Internal Marketing and performance Marketing
are the characteristics of holistic marketing
31. Difference Between Marketing and
selling
Marketing
Marketing is the process of
various concept in the form of
chain
Marketing starts with the
buyers and focuses constantly
on the needs of the buyer
Marketing involves pulling
strategies i.e. attracts the
customers through its various
marketing strategies
Marketing seeks to convert
customer needs into product
Selling
Selling is one of the concept in
the chain of marketing
Selling starts with the sellers
i.e. pre occupied all the time
with the need of the seller
Selling involves pushing
strategies i.e. pushing the
goods to the buyer
Selling seeks to quickly convert
products into cash
32. Cont…
Planning is long-run-
oriented in today’s
product and terms of
new products,
tomorrow’s markets
and future growth
Consumer determine
price, price determine
cost
Planning is short- run-
oriented in terms of
today’s products and
markets
Cost determine price