This document defines marketing and outlines its key concepts. Marketing is defined as the business process of identifying customer needs and delivering products/services to satisfy them profitably. It involves 4Ps - product, price, place, promotion. Marketing aims to benefit both customers and organizations through voluntary exchanges. It is a process that analyzes, plans, implements and controls activities to satisfy needs and wants through the creation and exchange of goods/services. The scope of marketing is broad, including goods, services, ideas, places and more. Its importance lies in creating demand, employment and optimizing resource use.

1. Dr. Sunita Sukhija
Assistant Professor
Govt. National College, Sirsa
Marketing- Meaning, Definition and
Scope

2. Introduction- Meaning of
Marketing
 Management process comprises of five M’s i.e. men,
money, materials, machines and markets. Market is the
last component of this chain. The success of a business
enterprise lies not only in production, but mainly in
successful marketing.
 The term “Marketing” is derived from “Market”, which can
be defined as – “a place where buyers and sellers gather
to buy and sell the products”. But Marketing is not only
about selling; because in order to sell the product we must
know the needs (basic requirements) of the customers.
 Thus Marketing is all about identifying the needs of the
customers and satisfying those needs profitably with the
help of the product.
 For example – Procter & Gamble (P&G) has identified that
people need tasty but low calorie food and introduced
Olestra (Oats).
 Marketing is an organisational function and a set of
processes for creating, communicating, and delivering
value to customers and for managing customer

3. Social & Managerial Definition of
Marketing
 Social Definition-
 Marketing is a societal process by which individuals and groups
obtain what they need and want through creating, offering, and
freely exchanging products and services of value with others.-
Philip Kotler
 Managerial Definition-
 • Marketing is primarily concerned with the problem of profitably
disposing what is produced.
 • Marketing is an art of selling products.
 • Marketing is the performance of business activities that direct
the flow of goods and services from the producer to the
consumer.
 • Marketing is the economic process by which goods and
services are exchanged between the maker and the user, and
their values determined in terms of money prices.
 • Marketing is the delivery of a standard of living to society.

4. Definition of Marketing
 “Marketing is everything.” — Regis McKenna
 Marketing is the business process by which products
are matched with market and through which transfers
of ownership are affected.” ----Condiff and Still
 Marketing is getting and keeping the customer.” --
Levitt
 Marketing is “The management process responsible
for identifying, anticipating and satisfying customer
requirements profitably.” — The Chartered Institute of
Marketing
 “Marketing is the process of planning and executing
the conception, pricing, promotion, and distribution of
ideas, goods, services to create exchanges that
satisfy individual and organizational goals” --
American Marketing Association

5. Features of Marketing
 Marketing is a Process.
 A process is a particular method of doing an activity,
generally involving a series of steps or operations. The
classical marketing approach involves four broad steps:
market analysis, market planning, implementation, and
control. Market analysis involves searching for
opportunities in the marketplace. Finally, marketing control
refers to the informal and formal mechanisms that
marketing managers can use to keep the marketing
program on course.
 It Involves a Mix of Product, Pricing, Promotion, and
Distribution.
 Strong marketing programs do not involve one action, such
as the design of a great product. Rather, the most
successful marketing programs involve mixing the
ingredients of marketing to deliver value to customers. This
mixing entails blending the right amounts of the 4P
ingredients, at the right time, and in the right sequence.

6.  It Is About Exchange-mutual benefits.
 Marketing is not successful unless two parties
exchange something of value. The buyer may
exchange time, money, or services, while
the seller must exchange something of value to the
buyer.
 It Is Intended to Satisfy Individual and
Organizational Needs.
 The aim of marketing is to provide a satisfactory
outcome for both the firm and the customer. Firms
can have highly satisfied customers if they provide
services for free. The key to modern marketing is
simultaneously satisfying the customer, the firm, and
its shareholders.

7. Marketing Management
 Marketing management is “planning, organising, controlling
and implementing of marketing programmes, policies,
strategies and tactics designed to create and satisfy the
demand for the firms’ product offerings or services as a
means of generating an acceptable profit.”
 According to Philip Kotler, “Marketing Management is the art
and science of choosing target markets and building profitable
relationship with them. Marketing management is a process
involving analysis, planning, implementing and control and it
covers goods, services, ideas and the goal is to produce
satisfaction to the parties involved”.
 Marketing Management Involves:
 1. The setting of marketing goals and objectives,
 2. Developing the marketing plan,
 3. Organising the marketing function,
 4. Putting the marketing plan into action and
 5. Controlling the marketing programme.

8. Objectives of Marketing
 To apply effective and Modern Marketing Policies
 To Develop Market Field
 To develop and implement guiding policies for
better result
 To Suggest solutions by understanding problems
 To find sources for further information concerning
the market problem

9. Functions of Marketing
 Buying & Selling: The buying and selling function involves promoting the
product. It includes the use of personal selling, advertising, and other mass-
selling methods.
 Transportation: The transporting function is the movement of goods from one
place to another.
 Sorting: The sorting function involves holding goods until customers need it.
 Standardization and Grading: The standardization and grading involve sorting
products according to size and quality. This makes buying and selling easier
because it reduces the need for inspection and sampling.
 Financing: The financing provides the necessary cash and credit to produce,
transport, store, promote, sell, and buy products.
 Risk-Taking: It involves bearing the uncertainties that are part of the marketing
process. A firm can never be sure that customers will want to buy its products
can also be damaged, stolen, or outdated.
 Market Information & Research: With the vast amount of information available
to marketers today and the emphasis on relational marketing, marketers are in
more of a position to suggest needs and wants to the public. Certainly, not all
consumers have all the needs and wants suggested by society today. However,
with the vast amount of exposure to these societal needs and wants via the
media, a substantial amount of consumers will, through mere exposure, decide
that they “have” the same needs and wants of others.
 After Sale Services

10. Scope of Marketing
 (i) Goods – Goods can be defined as anything which
tangible which can be offered to the customers in order to
satisfy their wants, (e.g., Maggi noodle)
 (ii) Services – Services can be defined as anything which
can be offered by one party to another which is intangible,
variable and perishable in nature, (e.g., medical services,
defense, etc.) Services include the work of hotels, airlines,
banks, insurance companies, transportation corporations
etc. as well as professionals like lawyers, doctors, teachers
etc.
 (iii) Experiences – Experience can also be marketed as a
product. By using several services and goods, a firm can
create stage and market experiences, (e.g., Walt Disney
World’s Kingdom represents experiential marketing –
Customers visit a fairy kingdom, a pirate ship, or a haunted
house). There is a market for different experiences such as
climbing Mount Everest or Kanchenjunga, travelling in
Palace on Wheels, river rafting or a trip to Moon.

11.  (iv) Events – Marketers promote and market time-based
events as well, e.g., Sports events like IPL etc., artistic
performances (Lata Mangeshkar live concert, Jagjit Singh
live concert), trade shows (International Book Fair at
Pragati Maidan, Automobile fair), award ceremonies
(Filmfare awards, Screen awards), beauty contests (Miss
World, Miss Universe, Miss India, Miss Chandigarh),
model hunts (Gladrags Mega Model) etc.
 (v) Persons – Incidentally through our actions or inactions
each one of us as individual are marketing ourselves and
at marketing efforts are supplemented by family and
friends. Celebrity or famous personality marketing is a
major business. Today every film star has an agent or a
public relation officer in order to get help for marketing,
(e.g., Sachin Tendulkar), Even the TV channel “Star Plus”
focused more on Amitabh Bachchan to promote their
program Kaun Banega Crorepati and this program turned
around fortunes of both Star Plus and Amitabh
Bachchan.

12.  (vi) Place – Places-cities, states, regions and nations-
compete actively to attract tourists, companies etc.,
(e.g., tour packages etc.) Cities like Bangalore,
Hyderabad and Gurgaon are promoted as center for
software development. Bangalore is regarded as
software capital of India and Hyderabad is emerging
as the hub of biotechnology industry. Gurgaon and
Noida are competing for call centers to open their
offices.
 (vii) Properties – Properties are bought and sold and
this requires marketing. Properties are intangible
rights of ownership of either real property (e.g., real
estate) or financial property (e.g., stocks and bonds).
Property dealers in India work for property owners or
seekers to sell or buy plots, residential or commercial
real estate. Brokers and sub-brokers buy and sell
securities on behalf of individual and institutional
buyers.

13.  (viii) Organization – Organizations actively work to attract their
stakeholders. They work to build a strong and positive image in the minds
of their stakeholders with the help of public relations, (e.g., Free dental
checkup campy by Colgate and Indian Dental Association). advertisements
of Reliance Infocomm, which is trying to provide communication at lower
rates, Dhirubhai Ambani Entrepreneur program is trying to promote
entrepreneurship among the Indians. Companies can gain immensely by
associating themselves with the social causes. Universities and colleges
are trying to boost their image to compete successfully for attracting
students for admissions by mentioning their NAAC grades in the
advertisements and information brochures.
 (ix) Information – Information can be produced and marketed as a product,
(e.g., Research and Development services, Encyclopedias) Wikipedia is
one of the best examples of information marketing. Magazines such as
Fitness and Muscle provide information about staying healthy, Business
India, Business Today and Business World provide information about
business activities that are taking place in various organizations.
 (x) Idea – Ideas can also be produced and marketed as well. In fact, idea
generation is the first step of the new product development. Every market
offering includes a basic idea, (e.g., Business ideas, etc.). . Idea here
means the social cause or an issue that can change the life of many.
Narmada Bachao Andolan was triggered to bring the plight of displaced
people and to get them justice. Endorsement by Amitabh Bachchan to

14. Key Points highlighting the nature
of marketing
 1. Marketing is a complex process
 2. Marketing is dynamic and ever evolving.
 3. Marketing demands integrated and coordinated
efforts.
 4. Marketing is full of creativity and innovation.
 5. Marketing is value driven and customer
focused process.
 6. Marketing is about being empathetic and
sacrificing. That is why an author has articulately
compared marketing as ‘Gardening’.

15. Importance of Marketing
 (a) Creation of demand for goods and services,
 (b) Betterment in the standard of living,
 (c) Creation of social utility,
 (d) Optimal utilization of resources,
 (e) Maintenance of survival and mobility of business,
 (f) Employment Opportunities,
 (g) Maintenance of balance between demand and
supply,
 (h) Stabilizes the Economic Conditions,
 (i) Export promotion,
 (j) Sales promotion,
 (k) Increase in the risk bearing capacity.

16. Benefits of Marketing
Benefits to Society: Benefits to Firms
 Raise the standard of
Living
 Employment
Opportunities
 Stabilizes the Economic
Conditions
 Optimum Utilization of
Resources
 Maximum Satisfaction
of Human Wants
 Maintenance of survival
and mobility of business
 Export promotion,
 Sales promotion,
 Increase in the risk
bearing capacity
 Maintenance of balance
between demand and
supply
 Creation of demand for
goods and services

17. Conclusion
 Marketing is defined as the process responsible
for identifying, anticipating, and satisfying
customer requirements profitably.
 Marketing intends to satisfy and delight the
customer. The activities of marketing must be
directed and focused at the customer. Marketers
can remain in the customer’s mind only if the
latter is provided value for what he spends. The
customer focus can optimise costs for the
customer while allowing the organization to focus
on its core competencies.

18. Thanks