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Unit 1 basic of marketing

The document discusses several key marketing concepts: 1. It defines needs, wants, demands, products/offerings, value, exchange, and customer satisfaction. 2. It explains that a market is the sum of all buyers and sellers in a given area, and that markets can be physical or virtual, local or global. 3. It also briefly outlines different types of markets, including available market, market minimum, and market potential.

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Session-2 BOM 11/7/2018AIMBA/106BOM/2017/unit-11
Let us check your marketing awareness  Are you ready 11/7/2018AIMBA/106BOM/2017/unit-12
Identify True or false statements Given 1. Marketing is selling. 2. Advertising is called marketing. 3. Marketing is customer centric philosophy 4. Selling,advertising,pricing,distribution etc are the functions of marketing. 5. Marketing is not necessary for every organization 6. Every organization should be seller focused 7. Retailers directly sell the product to wholesalers 8. Wal-Mart is the largest retail chain in the world 9. Consumer behavior study is important in marketing 10. Marketing is Art and Science 11/7/2018AIMBA/106BOM/2017/unit-13
Contd…  11.---------------------Hai Jaha, Tandurusti Hai Waha.  12.Ujala is a brand of ----------------- company  13. Santoor is the brand of ----------------Company.  14. “Sense with simplicity”is tagline of which company  15 Skyline is a brand of which company 11/7/2018AIMBA/106BOM/2017/unit-14
11/7/2018AIMBA/106BOM/2017/unit-15 Generally people says Marketingis
11/7/2018AIMBA/106BOM/2017/unit-16 Contd…  -Market-In ( Get into the market & see )
11/7/2018AIMBA/106BOM/2017/unit-17 Contd..  -Market-In ( Get into the market & see )  shopping
11/7/2018AIMBA/106BOM/2017/unit-18 Contd…  Market-In ( Get into the market & see )  shopping  Telling & Selling
11/7/2018AIMBA/106BOM/2017/unit-19 Contd…  Market-In ( Get into the market & see )  shopping  Telling & Selling  Advertising
11/7/2018AIMBA/106BOM/2017/unit-110  Yes But is it Reality  or no
11/7/2018AIMBA/106BOM/2017/unit-111 Contd…  Answer is BIG nO
11/7/2018AIMBA/106BOM/2017/unit-112 Let us see then  What is MARKETING
11/7/2018AIMBA/106BOM/2017/unit-113 OVERVIEW OF MARKETING DEFINITIONS  Marketing is improving standard of living of society  Marketing is need identifying and need satisfying process  Marketing is beginning and end of business activities  Marketing includes all activities which are connected with the transfer of ownership and possession of goods and services  Marketing is demand stimulating and demand satisfying process  Marketing is customer centric philosophy which believes in customer satisfaction
AIMBA/106BOM/2017/unit-1 The Marketing Concept Profit Customer Satisfaction Total Company Effort The Marketing Concept 11/7/201814
Why Marketing is Important?  Benefits to Society Improved standard of living Increase in National Income Generates employment opportunities Increase in national income Protection against business slump Reduction in distribution cost 11/7/201815 AIMBA/106BOM/2017/unit-1
Benefits to Firm Survival Growth Profitability Sustainability Overall success 11/7/201816 AIMBA/106BOM/2017/unit-1
Importance of Marketing to Developed and developing nation 11/7/201817 AIMBA/106BOM/2017/unit-1
 Importance of Marketing to Country Like India  Threats to Existence of Indian industries (Stiff competition) Robust and Dynamic environment Opening up of economy(LPG) Changed economic and business11/7/201818 AIMBA/106BOM/2017/unit-1
What is to be considered in Marketing?(Scope) 11/7/2018AIMBA/106BOM/2017/unit-119  1. Goods:  Physical goods constitute the major part of a country’s production and marketing effort. Companies market billions of food products, and millions of cars, refrigerators, television and machines.
11/7/2018AIMBA/106BOM/2017/unit-120
11/7/2018AIMBA/106BOM/2017/unit-121  2. Services:  As economies advance, a large proportion of their activities is focused on the production of services. Services include the work of airlines, hotels, car rental firms, beauticians, software programmers, management consultants, and so on. Many market offerings consist of a mix of goods and services. For example, a restaurant offers both goods and services.
11/7/2018AIMBA/106BOM/2017/unit-122  3. Events:  Marketers promote events. Events can be trade shows, company anniversaries, entertainment award shows, local festivals, health camps, and so on. For example, global sporting events such as the Olympics or Common Wealth Games are promoted aggressively to both companies and fans.
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11/7/2018AIMBA/106BOM/2017/unit-124  . Experiences:  Marketers create experiences by offering a mix of both goods and services. A product is promoted not only by communicating features but also by giving unique and interesting experiences to customers. For example, Maruti Sx4 comes with Bluetooth technology to ensure connectivity while driving, similarly residential townships offer landscaped gardens and gaming zones.
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11/7/2018AIMBA/106BOM/2017/unit-126  5. Persons:  Due to a rise in testimonial advertising, celebrity marketing has become a business. All popular personalities such as film stars, TV artists, and sportspersons have agents and personal managers. They also tie up with PR agencies for better marketing of oneself  6. Places:  Cities, states, regions, and countries compete to attract tourists. Today, states and countries are also marketing places to factories, companies, new residents, real estate agents, banks and business associations. Place marketers are largely real estate agents and builders. They are using mega events and exhibitions to market places. The tourism ministry is also aggressively promoting tourist spots locally and globally.
11/7/2018AIMBA/106BOM/2017/unit-127
11/7/2018AIMBA/106BOM/2017/unit-128
11/7/2018AIMBA/106BOM/2017/unit-129  7. Properties:  Properties can be categorized as real properties or financial properties. Real property is the ownership of real estates, whereas financial property relates to stocks and bonds. Properties are bought and sold through marketing.
11/7/2018AIMBA/106BOM/2017/unit-130  8. Organizations:  Organizations actively work to build image in the minds of their target public. The PR department plays an active role in marketing an organization’s image. Marketers of the services need to build the corporate image, as exchange of services does not result in the ownership of anything. The organization’s goodwill promotes trust and reliability. The organization’s image also helps the companies in the smooth introduction of new products.
11/7/2018AIMBA/106BOM/2017/unit-131  9. Information:  Information can be produced and marketed as a product. Educational institutions, encyclopedias, non-fiction books, specialized magazines and newspapers market information. The production, packaging, and distribution of information is a major industry. Media revolution and increased literacy levels have widened the scope of information marketing.
11/7/2018AIMBA/106BOM/2017/unit-132  10. Idea:  Every market offering includes a basic idea. Products and services are used as platforms for delivering some idea or benefit. Social marketers widely promote ideas. Maruti Udyog Limited promoted safe driving habits, need to wear seat belts, need to prohibit children from sitting near the driver’s seat, and so on.
11/7/2018AIMBA/106BOM/2017/unit-133  What is the Marketing Process?  In which sequence the Marketing Activities are carried out?
11/7/2018AIMBA/106BOM/2017/unit-134 Understand the Marketing Place & Customer needs and wants Design a Customer driven marketing strategy Construct an Integrated Marketing program that delivers superior customer customer value Build profitable relationships & create customer delight capture value from cutomers to cretae profits & customer equity
Exercise No.02  List out the chapters in syllabus linked with the Marketing process model just explained  Which are the market places?  How will you study Customer and Market Place?  How will you design the Customer centric Marketing Strategy? 11/7/2018AIMBA/106BOM/2017/unit-135
Session-3 BOM 11/7/2018AIMBA/106BOM/2017/unit-136
11/7/2018AIMBA/106BOM/2017/unit-137 Functions of Marketing  Marketing facilitates PRODUCTION & CONSUMPTION It matches Heterogeneous supply capabilities with heterogeneous demand
11/7/2018AIMBA/106BOM/2017/unit-138 Functions of Marketing contd…  Buying: means looking for & evaluating goods & services
11/7/2018AIMBA/106BOM/2017/unit-139 Functions of Marketing contd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, advertising, and other direct & mass selling methods
11/7/2018AIMBA/106BOM/2017/unit-140 Functions of Marketing contd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, adverstising, and other direct & mass selling methods  Transporting: means movement of goods from one place to another  Storing: means holding goods until customers hold them
11/7/2018AIMBA/106BOM/2017/unit-141 Functions of Marketing contd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, advertising, and other direct & mass selling methods  Transporting: means movement of goods from one place to another  Storing: means holding goods until customers hold them  Standardization & grading: involves sorting products according to size & quality
11/7/2018AIMBA/106BOM/2017/unit-142 Functions of Marketing contd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, advertising, and other direct & mass selling methods  Transporting: means movement of goods from one place to another  Storing: means holding goods until customers hold them  Standardization & grading: involves sorting products according to size & quality  Financing: provides necessary cash & credit to produce, transport, store, promote, sale & buy products
11/7/2018AIMBA/106BOM/2017/unit-143 Functions of Marketing contd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, adverstising, and other direct & mass selling methods  Transporting: means movement of goods from one place to another  Storing: means holding goods until customers hold them  Standardization & grading: involves sorting products according to size & quality  Financing: provides necessary cash & credit to produce, transport, store, promote, sale & buy products  Risk Taking: involves bearing the uncertainties that are part of the marketing process
11/7/2018AIMBA/106BOM/2017/unit-144 Functions of Marketing contd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, adverstising, and other direct & mass selling methods  Transporting: means movement of goods from one place to another  Storing: means holding goods until customers hold them  Standardization & grading: involves sorting products according to size & quality  Financing: provides necessary cash & credit to produce, transport, store, promote, sale & buy products  Risk Taking: involves bearing the uncertainties that are part of the marketing process  Marketing Information Function: It involves the collection, analysis & distribution of all the information needed to plan, carry out & control marketing activities.
Exercise 3  Marketing performance is out come of marketing functions? Do you agree? Discuss  What do you understand from marketing functions?  Can all these marketing functions logically and sequentially linked with one another?  Do you feel the importance of marketing functions will be changed with reference to the products or services to be marketed 11/7/2018AIMBA/106BOM/2017/unit-145
Session-4 BOM 11/7/2018AIMBA/106BOM/2017/unit-146
11/7/2018AIMBA/106BOM/2017/unit-147 Core Concepts of Marketing: Need: Need describe basic human requirements. It’s state of felt deprivation.
11/7/2018AIMBA/106BOM/2017/unit-148 Want:  the need becomes wants when they are directed to specific objects that might satisfy the needs.
11/7/2018AIMBA/106BOM/2017/unit-149 Demands:  are wants for specific products backed by an ability to pay. 
11/7/2018AIMBA/106BOM/2017/unit-150 Product or offerings :  A product is any offering that can satisfy need or wants.  Bundle of attributes which is having want satisfying capacity is called products.  Market offerings: Offerings may be goods or services.
11/7/2018AIMBA/106BOM/2017/unit-151 Value:  It is ratio between what the customer gets & what he gives.  Value = Benefits = Functional benefits +Emotional Benefits  Costs Monetary cost + time costs + energy costs +  psychic costs 
11/7/2018AIMBA/106BOM/2017/unit-152 Exchange:  The act of obtaining a desired object from someone by offering something in return
11/7/2018AIMBA/106BOM/2017/unit-153 Customer satisfaction: is a function of the closeness between the buyer’s expectations & the product’s perceived performance. 3 situations :  1.If performance falls short of expectations, the customer is disappointed  2.If it meets expectations, the customer is satisfied  3.If it exceeds expectations, the customer is delighted .
What is Market? 11/7/2018AIMBA/106BOM/2017/unit-154  A market is defined as the sum total of all the buyers and sellers in the area or region under consideration. The area may be the earth, or countries, regions, states, or cities. The value, cost and price of items traded are as per forces of supply and demand in a market. The market may be a physical entity, or may be virtual. It may be local or global, perfect and imperfect. Types of Market  A market can be called the 'available market' - that of all the people in the area. Within the available market, there is the 'market minimum'- or the market size, which will buy goods without any marketing effort.  There is also the 'market potential', which is the maximum market size that will buy goods when subjected to the greatest marketing action that a company can do.
What are the key customer Markets? 11/7/2018AIMBA/106BOM/2017/unit-155  Consumer Markets Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time to establish a superior brand image.  Business Markets Companies selling business goods and services often face well-trained and well-informed professional buyers who are skilled in evaluating competitive offerings. Business buyers buy goods in order to make or resell a product to others at a profit. Business marketers must demonstrate how their products will help these buyers achieve higher revenue or lower costs.  Global Markets Companies selling goods and services in the global marketplace face additional decisions and challenges. They must decide which countries to enter; how to enter each country as an exporter, licenser, joint venture partner, contract manufacturer, or sole manufacturer and how to adapt their product and service features to each country.  Nonprofit and Governmental Markets Companies selling their goods to nonprofit organizations such as churches, universities, charitable organizations, or government agencies need to price carefully because these organizations have limited purchasing power. Lower prices affect the features and quality that the seller
What is difference between Marketplace, Marketspace & Metamarket ? 11/7/2018AIMBA/106BOM/2017/unit-156  Marketplace is the traditional 'brick' store like a shop with a physical existence which displays wares for sale, for us to pick and choose from. There is scope for physical interaction with the seller, to try and test out new products, to negotiate terms, get clarification on product usage and benefits. Marketspace is the digital version of a store, a 'click' store, which allows us the convenience of browsing through their products and doing online shopping, without physically going anywhere Metamarket is a cluster of goods and services which are closely interrelated to each other but is perceived by a consumer to be different.
What is Difference between Market and Marketing 11/7/2018AIMBA/106BOM/2017/unit-157  A market is any space within which trade takes place between buyers and sellers for a well defined product. This space can be a produce market, a shop, internationally between countries or over the internet.  Marketing is all those activities that facilitate trade. These include activities that identify consumers’ needs such as market research and those activities that satisfy consumers needs e.g., packaging and distribution. Marketing activities therefore support the marketing of goods and services.
11/7/2018AIMBA/106BOM/2017/unit-158 Marketing Approaches-what is it? .  What philosophy should guide the company’s marketing efforts?  How the company orients themselves towards the marketplace? These questions decides…… 
11/7/2018AIMBA/106BOM/2017/unit-159 Marketer’s decides their approach of conducting marketing activities in their firm   Production concept holds that consumers will prefer products that are widely available & inexpensive
11/7/2018AIMBA/106BOM/2017/unit-160 Marketing Approaches contd..  Product concept holds that consumers will favor those products that offer the most quality, performance or innovative features 
11/7/2018AIMBA/106BOM/2017/unit-161 Marketing Approaches contd..  Selling concepts hold that consumers & businesses, if left alone, will ordinarily not buy enough of the organizations products. The organization must, therefore, undertake an aggressive selling & promotion efforts. 
11/7/2018AIMBA/106BOM/2017/unit-162 Marketing Approaches contd..  Marketing concepts holds that the key to achieving the organizational goals consists of the companies being more effective than the competitors in creating, delivering and communicating the customer value to it’s chosen target market
What is transactional and Relationship Marketing? 11/7/2018AIMBA/106BOM/2017/unit-163  Transactional marketing focuses one single focus “making a sale”. ... The internal focus is on efficiency and volume of sales (maximum short term results).  Whereas…. Relationship marketing focuses on building loyalty and emphasizes customer/client retention.
11/7/2018AIMBA/106BOM/2017/unit-164 Societal Marketing concept  The Societal Marketing concepts holds that the organization’s task is to determine the needs, wants & interests of target markets and to deliver the desired satisfaction more effectively & efficiently than competitors in a way that preserves or enhances the consumers & society’s welfare.
11/7/2018AIMBA/106BOM/2017/unit-165 Relationship Marketing  Relationship Marketing aims to build mutually satisfying long term relationships with key constituents in order to earn & retain their business.
11/7/2018AIMBA/106BOM/2017/unit-166 Integrated Marketing  The marketer’s task is to devise marketing activities and assemble fully integrated marketing programs to create, communicate & deliver value for consumers.  According to McCarthy these marketing activities can be classified in the form of 4P’s of marketing i.e. Price, Place, and Promotion & Product.
11/7/2018AIMBA/106BOM/2017/unit-167 Internal Marketing  ensures that everyone in the organization embraces appropriate marketing principles especially senior management.  Inetrnal Marketing is the task of hiring, training and motivating able employees who wants to serve customer well.
11/7/2018AIMBA/106BOM/2017/unit-168 Performance marketing  helps to understand the returns to the business from marketing activities and programs, as well as addressing broader concerns and their legal, ethical, social & environmental effects.
11/7/2018AIMBA/106BOM/2017/unit-169 Socially responsible marketing  The effects of the marketing clearly extend beyond the company and the customer to society as a whole. Marketers must carefully consider their role in broader terms, and the ethical,social,environmental & legal context of their activities
11/7/2018AIMBA/106BOM/2017/unit-170 HOLISTIC MARKETING DIMENSIONS: The Holistic Marketing concept is based on the design, development, and implementation of marketing programs, processes and activities that recognizes their breadth and interdependencies.  It recognizes that “Everything Matters” in marketing and that a broad, integrated perspective is often necessary  Let us see the diagram…..
What is Marketing Myopia? 11/7/2018AIMBA/106BOM/2017/unit-171  A short-sighted and inward looking approach to marketing that focuses on the needs of the company instead of defining the company and its products in terms of the customers' needs and wants. It results in the failure to see and adjust to the rapid changes in their markets. The concept of marketing myopia was discussed in an article (titled "Marketing Myopia," in July-August 1960 issue of the Harvard Business Review) by Harvard Business School emeritus professor of marketing, Theodore C. Levitt (1925-2006), who suggests that companies get trapped in this situation because they omit to ask the vital question, "What business are we in?"
Now my question is which of the marketing approaches suffers from Marketing Myopia? 11/7/2018AIMBA/106BOM/2017/unit-172
11/7/2018AIMBA/106BOM/2017/unit-173 Yes, it's correct Product approach Production approach Sales Approach It’s observed. How ? Can u explain
11/7/2018AIMBA/106BOM/2017/unit-174 How to overcome this Myopia?  That’s why MARKETING Approach Get developed. In ur mind there is ? How marketing concepts is superior ? Yeh..? let us see diagram
AIMBA/106BOM/2017/unit-1 Marketing Perspectives Marketing Company Orientation Focus : Marketing Department Orientation Focus : Sales-orientation Focus: Push products to beat competition Production-orientation Focus: Sell what it’s easy to produce Coordinate all customer contacts Long-run customer satisfaction 11/7/201875
11/7/2018AIMBA/106BOM/2017/unit-176  What marketing really is?  Customer Centric i.e. customer focus  Competition oriented  Outside in approach  Market & demand orientation  FUTURISTIC ORIENTATION & LONG TERM DIRECTION  Customer satisfaction is the key  Survival, growth along with returns in terms of profits can be ensured  Vibrant, dynamic & responsive organization  Improves standard of living of the society at large What is conclusion ?
11/7/2018AIMBA/106BOM/2017/unit-177 Why Marketing Philosophy is Superior?-A CONCLUSION  Customer is King. He is the reason for the Business.  Organization survival, growth, return & ultimately success depends upon HIM  How the every activities designed & implemented at organization level serve customers better than the competitors
11/7/2018AIMBA/106BOM/2017/unit-178 Selling Vs Marketing Are u ready to see the DIFFERENCE
11/7/2018AIMBA/106BOM/2017/unit-179 S r. Selling Marketing 1. Focus on needs of seller Focus on needs of buyer 2. Inside out approach Outside in approach 3. Narrow term Broader & comprehensive terms 4. Selling starts with seller and is always preoccupied with the needs of the seller Marketing starts with buyer & focuses constantly on the needs of buyer 5. Emphasize on the saleable surplus available within the corporation Seeks to convert customer needs into products 6. Views business as a “Goods creating Process” “Views business as a customer satisfying 7. Cost determines the price Consumers determine the price 8. Emphasize on somehow” selling” Emphasize on” Integrated Marketing” 9. Production is central Marketing is central function which
What is Marketing Mix? 11/7/2018AIMBA/106BOM/2017/unit-180  It is set of controllable tool in the form of 4Ps which is used to pursue marketing activities to accomplish marketing objectives in a Target market.  It is a MARKETING MIX through which the COMPANY interacts with TARGET MARKET’S customers.  It is the skill of the marketer to APPROPRIATELY FORMULATE THE MARKETING MIX to solicit the response from target market’s customers.
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Exercise 4 11/7/2018AIMBA/106BOM/2017/unit-188  Presentation  Deliver presentation on marketing Mix of PEPSICO company/Nestle/Malpani/Tata/Reliance Gio/Dabur/Patanjali/Asian paints in a Group of 10 students  Group Discussion  “Marketing mix is a controllable tool used by marketer to respond to changes in marketing environment.”Do you Agree  Identify who says “Selling is Just the Tips of the Iceberg, Marketing is something bigger than that”
Session-BOM 5 11/7/2018AIMBA/106BOM/2017/unit-189
What are New Marketing Realities?  Consumer capabilities:  Consumer buying power  Consumer Information  Consumer participation designing, marketing, workshops  Consumer resistance less brand loyal, more price and quality sensitive  Societal forces :  Network Information Technology  Globalization  Deregulation It is the process of removing or reducing state regulations.  Heightened Competition  Industry Convergence Interaction of two or more industries  Retail Transformation Organized retailing  Disintermediation created by the boom of e commerce in delivering products and services 11/7/2018AIMBA/106BOM/2017/unit-190
What are new Company capabilities ? 11/7/2018AIMBA/106BOM/2017/unit-191  Marketers can use the Internet as a powerful information and sales channel  Marketers can collect fuller and richer information about markets, customers, prospects and competitors  Marketers can tap into social media to amplify their brand message  Marketers can facilitate and speed external communication among customers  Marketers can send ads, coupons, samples, and information to customers who have requested them or given company permission to send them  Marketers can reach consumers on the move with mobile marketing  Companies can make and sell individually differentiated goods(acc. to our preference)  Companies can improve purchasing, recruiting, training, and internal and external communications  Companies can facilitate and speed up internal communication among their employees by using internet as a private intranet  Companies can improve their cost efficiency by skillful use of internet  Competitors capabilities
Exercise-6 11/7/2018AIMBA/106BOM/2017/unit-192  Conduct competitor analysis of Snapdeal,flipcart and Amazon?  Discussion Questions:  1.What is competition?  2. Which parameters to consider for competitor analysis  3. Who is strong competitor in given example? Why?  4. What is competitive advantage?
11/7/2018AIMBA/106BOM/2017/unit-193  PLEASE
Q& Sessions 11/7/2018AIMBA/106BOM/2017/unit-194
Exercise-7 Broader Questions (3-4 pages) 11/7/2018AIMBA/106BOM/2017/unit-195  “Marketing is superior than selling concept” Discuss  How business orient themselves to the changing marketing conditions? What is difference between production orientation and product orientation approach of marketing?  If you are appointed as a Marketing Manager, How will you undertake Customer Need analysis for your products? What tools and techniques do you use?  “Marketing is Demand Management "Explain  Differentiate between market place, meta market and mega market.  Explain the Marketing Myopia concept in detail.
Exercise-8 Situational Cases 11/7/2018AIMBA/106BOM/2017/unit-196  Browse the websites of reputed companies and analyze whether the company is really following Marketing concepts ( Refer company’s vision, mission, goals and objectives, their organization structure, their advertisement messages, consumer care sales, initiatives taken to enhance customer satisfaction, customer feedback, customer satisfaction index, new product launches, increase in sales and market shares, brand power and market share prices related information on stock exchanges)

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Unit 1 basic of marketing

  • 1.
  • 2.
    Let us checkyour marketing awareness  Are you ready 11/7/2018AIMBA/106BOM/2017/unit-12
  • 3.
    Identify True orfalse statements Given 1. Marketing is selling. 2. Advertising is called marketing. 3. Marketing is customer centric philosophy 4. Selling,advertising,pricing,distribution etc are the functions of marketing. 5. Marketing is not necessary for every organization 6. Every organization should be seller focused 7. Retailers directly sell the product to wholesalers 8. Wal-Mart is the largest retail chain in the world 9. Consumer behavior study is important in marketing 10. Marketing is Art and Science 11/7/2018AIMBA/106BOM/2017/unit-13
  • 4.
    Contd…  11.---------------------Hai Jaha,Tandurusti Hai Waha.  12.Ujala is a brand of ----------------- company  13. Santoor is the brand of ----------------Company.  14. “Sense with simplicity”is tagline of which company  15 Skyline is a brand of which company 11/7/2018AIMBA/106BOM/2017/unit-14
  • 5.
  • 6.
  • 7.
    11/7/2018AIMBA/106BOM/2017/unit-17 Contd..  -Market-In (Get into the market & see )  shopping
  • 8.
    11/7/2018AIMBA/106BOM/2017/unit-18 Contd…  Market-In (Get into the market & see )  shopping  Telling & Selling
  • 9.
    11/7/2018AIMBA/106BOM/2017/unit-19 Contd…  Market-In (Get into the market & see )  shopping  Telling & Selling  Advertising
  • 10.
  • 11.
  • 12.
  • 13.
    11/7/2018AIMBA/106BOM/2017/unit-113 OVERVIEW OF MARKETINGDEFINITIONS  Marketing is improving standard of living of society  Marketing is need identifying and need satisfying process  Marketing is beginning and end of business activities  Marketing includes all activities which are connected with the transfer of ownership and possession of goods and services  Marketing is demand stimulating and demand satisfying process  Marketing is customer centric philosophy which believes in customer satisfaction
  • 14.
  • 15.
    Why Marketing isImportant?  Benefits to Society Improved standard of living Increase in National Income Generates employment opportunities Increase in national income Protection against business slump Reduction in distribution cost 11/7/201815 AIMBA/106BOM/2017/unit-1
  • 16.
  • 17.
    Importance of Marketing to Developedand developing nation 11/7/201817 AIMBA/106BOM/2017/unit-1
  • 18.
     Importance ofMarketing to Country Like India  Threats to Existence of Indian industries (Stiff competition) Robust and Dynamic environment Opening up of economy(LPG) Changed economic and business11/7/201818 AIMBA/106BOM/2017/unit-1
  • 19.
    What is tobe considered in Marketing?(Scope) 11/7/2018AIMBA/106BOM/2017/unit-119  1. Goods:  Physical goods constitute the major part of a country’s production and marketing effort. Companies market billions of food products, and millions of cars, refrigerators, television and machines.
  • 20.
  • 21.
    11/7/2018AIMBA/106BOM/2017/unit-121  2. Services: As economies advance, a large proportion of their activities is focused on the production of services. Services include the work of airlines, hotels, car rental firms, beauticians, software programmers, management consultants, and so on. Many market offerings consist of a mix of goods and services. For example, a restaurant offers both goods and services.
  • 22.
    11/7/2018AIMBA/106BOM/2017/unit-122  3. Events: Marketers promote events. Events can be trade shows, company anniversaries, entertainment award shows, local festivals, health camps, and so on. For example, global sporting events such as the Olympics or Common Wealth Games are promoted aggressively to both companies and fans.
  • 23.
  • 24.
    11/7/2018AIMBA/106BOM/2017/unit-124  . Experiences: Marketers create experiences by offering a mix of both goods and services. A product is promoted not only by communicating features but also by giving unique and interesting experiences to customers. For example, Maruti Sx4 comes with Bluetooth technology to ensure connectivity while driving, similarly residential townships offer landscaped gardens and gaming zones.
  • 25.
  • 26.
    11/7/2018AIMBA/106BOM/2017/unit-126  5. Persons: Due to a rise in testimonial advertising, celebrity marketing has become a business. All popular personalities such as film stars, TV artists, and sportspersons have agents and personal managers. They also tie up with PR agencies for better marketing of oneself  6. Places:  Cities, states, regions, and countries compete to attract tourists. Today, states and countries are also marketing places to factories, companies, new residents, real estate agents, banks and business associations. Place marketers are largely real estate agents and builders. They are using mega events and exhibitions to market places. The tourism ministry is also aggressively promoting tourist spots locally and globally.
  • 27.
  • 28.
  • 29.
    11/7/2018AIMBA/106BOM/2017/unit-129  7. Properties: Properties can be categorized as real properties or financial properties. Real property is the ownership of real estates, whereas financial property relates to stocks and bonds. Properties are bought and sold through marketing.
  • 30.
    11/7/2018AIMBA/106BOM/2017/unit-130  8. Organizations: Organizations actively work to build image in the minds of their target public. The PR department plays an active role in marketing an organization’s image. Marketers of the services need to build the corporate image, as exchange of services does not result in the ownership of anything. The organization’s goodwill promotes trust and reliability. The organization’s image also helps the companies in the smooth introduction of new products.
  • 31.
    11/7/2018AIMBA/106BOM/2017/unit-131  9. Information: Information can be produced and marketed as a product. Educational institutions, encyclopedias, non-fiction books, specialized magazines and newspapers market information. The production, packaging, and distribution of information is a major industry. Media revolution and increased literacy levels have widened the scope of information marketing.
  • 32.
    11/7/2018AIMBA/106BOM/2017/unit-132  10. Idea: Every market offering includes a basic idea. Products and services are used as platforms for delivering some idea or benefit. Social marketers widely promote ideas. Maruti Udyog Limited promoted safe driving habits, need to wear seat belts, need to prohibit children from sitting near the driver’s seat, and so on.
  • 33.
    11/7/2018AIMBA/106BOM/2017/unit-133  What isthe Marketing Process?  In which sequence the Marketing Activities are carried out?
  • 34.
    11/7/2018AIMBA/106BOM/2017/unit-134 Understand the Marketing Place& Customer needs and wants Design a Customer driven marketing strategy Construct an Integrated Marketing program that delivers superior customer customer value Build profitable relationships & create customer delight capture value from cutomers to cretae profits & customer equity
  • 35.
    Exercise No.02  Listout the chapters in syllabus linked with the Marketing process model just explained  Which are the market places?  How will you study Customer and Market Place?  How will you design the Customer centric Marketing Strategy? 11/7/2018AIMBA/106BOM/2017/unit-135
  • 36.
  • 37.
    11/7/2018AIMBA/106BOM/2017/unit-137 Functions of Marketing Marketing facilitates PRODUCTION & CONSUMPTION It matches Heterogeneous supply capabilities with heterogeneous demand
  • 38.
    11/7/2018AIMBA/106BOM/2017/unit-138 Functions of Marketingcontd…  Buying: means looking for & evaluating goods & services
  • 39.
    11/7/2018AIMBA/106BOM/2017/unit-139 Functions of Marketingcontd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, advertising, and other direct & mass selling methods
  • 40.
    11/7/2018AIMBA/106BOM/2017/unit-140 Functions of Marketingcontd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, adverstising, and other direct & mass selling methods  Transporting: means movement of goods from one place to another  Storing: means holding goods until customers hold them
  • 41.
    11/7/2018AIMBA/106BOM/2017/unit-141 Functions of Marketingcontd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, advertising, and other direct & mass selling methods  Transporting: means movement of goods from one place to another  Storing: means holding goods until customers hold them  Standardization & grading: involves sorting products according to size & quality
  • 42.
    11/7/2018AIMBA/106BOM/2017/unit-142 Functions of Marketingcontd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, advertising, and other direct & mass selling methods  Transporting: means movement of goods from one place to another  Storing: means holding goods until customers hold them  Standardization & grading: involves sorting products according to size & quality  Financing: provides necessary cash & credit to produce, transport, store, promote, sale & buy products
  • 43.
    11/7/2018AIMBA/106BOM/2017/unit-143 Functions of Marketingcontd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, adverstising, and other direct & mass selling methods  Transporting: means movement of goods from one place to another  Storing: means holding goods until customers hold them  Standardization & grading: involves sorting products according to size & quality  Financing: provides necessary cash & credit to produce, transport, store, promote, sale & buy products  Risk Taking: involves bearing the uncertainties that are part of the marketing process
  • 44.
    11/7/2018AIMBA/106BOM/2017/unit-144 Functions of Marketingcontd…  Buying: means looking for & evaluating goods & services  Selling: It involves promoting product. It includes use of personal selling, adverstising, and other direct & mass selling methods  Transporting: means movement of goods from one place to another  Storing: means holding goods until customers hold them  Standardization & grading: involves sorting products according to size & quality  Financing: provides necessary cash & credit to produce, transport, store, promote, sale & buy products  Risk Taking: involves bearing the uncertainties that are part of the marketing process  Marketing Information Function: It involves the collection, analysis & distribution of all the information needed to plan, carry out & control marketing activities.
  • 45.
    Exercise 3  Marketingperformance is out come of marketing functions? Do you agree? Discuss  What do you understand from marketing functions?  Can all these marketing functions logically and sequentially linked with one another?  Do you feel the importance of marketing functions will be changed with reference to the products or services to be marketed 11/7/2018AIMBA/106BOM/2017/unit-145
  • 46.
  • 47.
    11/7/2018AIMBA/106BOM/2017/unit-147 Core Concepts ofMarketing: Need: Need describe basic human requirements. It’s state of felt deprivation.
  • 48.
    11/7/2018AIMBA/106BOM/2017/unit-148 Want:  the needbecomes wants when they are directed to specific objects that might satisfy the needs.
  • 49.
    11/7/2018AIMBA/106BOM/2017/unit-149 Demands:  are wants forspecific products backed by an ability to pay. 
  • 50.
    11/7/2018AIMBA/106BOM/2017/unit-150 Product or offerings:  A product is any offering that can satisfy need or wants.  Bundle of attributes which is having want satisfying capacity is called products.  Market offerings: Offerings may be goods or services.
  • 51.
    11/7/2018AIMBA/106BOM/2017/unit-151 Value:  It is ratiobetween what the customer gets & what he gives.  Value = Benefits = Functional benefits +Emotional Benefits  Costs Monetary cost + time costs + energy costs +  psychic costs 
  • 52.
    11/7/2018AIMBA/106BOM/2017/unit-152 Exchange:  The act ofobtaining a desired object from someone by offering something in return
  • 53.
    11/7/2018AIMBA/106BOM/2017/unit-153 Customer satisfaction: is a functionof the closeness between the buyer’s expectations & the product’s perceived performance. 3 situations :  1.If performance falls short of expectations, the customer is disappointed  2.If it meets expectations, the customer is satisfied  3.If it exceeds expectations, the customer is delighted .
  • 54.
    What is Market? 11/7/2018AIMBA/106BOM/2017/unit-154 A market is defined as the sum total of all the buyers and sellers in the area or region under consideration. The area may be the earth, or countries, regions, states, or cities. The value, cost and price of items traded are as per forces of supply and demand in a market. The market may be a physical entity, or may be virtual. It may be local or global, perfect and imperfect. Types of Market  A market can be called the 'available market' - that of all the people in the area. Within the available market, there is the 'market minimum'- or the market size, which will buy goods without any marketing effort.  There is also the 'market potential', which is the maximum market size that will buy goods when subjected to the greatest marketing action that a company can do.
  • 55.
    What are thekey customer Markets? 11/7/2018AIMBA/106BOM/2017/unit-155  Consumer Markets Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time to establish a superior brand image.  Business Markets Companies selling business goods and services often face well-trained and well-informed professional buyers who are skilled in evaluating competitive offerings. Business buyers buy goods in order to make or resell a product to others at a profit. Business marketers must demonstrate how their products will help these buyers achieve higher revenue or lower costs.  Global Markets Companies selling goods and services in the global marketplace face additional decisions and challenges. They must decide which countries to enter; how to enter each country as an exporter, licenser, joint venture partner, contract manufacturer, or sole manufacturer and how to adapt their product and service features to each country.  Nonprofit and Governmental Markets Companies selling their goods to nonprofit organizations such as churches, universities, charitable organizations, or government agencies need to price carefully because these organizations have limited purchasing power. Lower prices affect the features and quality that the seller
  • 56.
    What is differencebetween Marketplace, Marketspace & Metamarket ? 11/7/2018AIMBA/106BOM/2017/unit-156  Marketplace is the traditional 'brick' store like a shop with a physical existence which displays wares for sale, for us to pick and choose from. There is scope for physical interaction with the seller, to try and test out new products, to negotiate terms, get clarification on product usage and benefits. Marketspace is the digital version of a store, a 'click' store, which allows us the convenience of browsing through their products and doing online shopping, without physically going anywhere Metamarket is a cluster of goods and services which are closely interrelated to each other but is perceived by a consumer to be different.
  • 57.
    What is Differencebetween Market and Marketing 11/7/2018AIMBA/106BOM/2017/unit-157  A market is any space within which trade takes place between buyers and sellers for a well defined product. This space can be a produce market, a shop, internationally between countries or over the internet.  Marketing is all those activities that facilitate trade. These include activities that identify consumers’ needs such as market research and those activities that satisfy consumers needs e.g., packaging and distribution. Marketing activities therefore support the marketing of goods and services.
  • 58.
    11/7/2018AIMBA/106BOM/2017/unit-158 Marketing Approaches-what isit? .  What philosophy should guide the company’s marketing efforts?  How the company orients themselves towards the marketplace? These questions decides…… 
  • 59.
    11/7/2018AIMBA/106BOM/2017/unit-159 Marketer’s decides theirapproach of conducting marketing activities in their firm   Production concept holds that consumers will prefer products that are widely available & inexpensive
  • 60.
    11/7/2018AIMBA/106BOM/2017/unit-160 Marketing Approaches contd.. Product concept holds that consumers will favor those products that offer the most quality, performance or innovative features 
  • 61.
    11/7/2018AIMBA/106BOM/2017/unit-161 Marketing Approaches contd.. Selling concepts hold that consumers & businesses, if left alone, will ordinarily not buy enough of the organizations products. The organization must, therefore, undertake an aggressive selling & promotion efforts. 
  • 62.
    11/7/2018AIMBA/106BOM/2017/unit-162 Marketing Approaches contd.. Marketing concepts holds that the key to achieving the organizational goals consists of the companies being more effective than the competitors in creating, delivering and communicating the customer value to it’s chosen target market
  • 63.
    What is transactionaland Relationship Marketing? 11/7/2018AIMBA/106BOM/2017/unit-163  Transactional marketing focuses one single focus “making a sale”. ... The internal focus is on efficiency and volume of sales (maximum short term results).  Whereas…. Relationship marketing focuses on building loyalty and emphasizes customer/client retention.
  • 64.
    11/7/2018AIMBA/106BOM/2017/unit-164 Societal Marketing concept The Societal Marketing concepts holds that the organization’s task is to determine the needs, wants & interests of target markets and to deliver the desired satisfaction more effectively & efficiently than competitors in a way that preserves or enhances the consumers & society’s welfare.
  • 65.
    11/7/2018AIMBA/106BOM/2017/unit-165 Relationship Marketing  RelationshipMarketing aims to build mutually satisfying long term relationships with key constituents in order to earn & retain their business.
  • 66.
    11/7/2018AIMBA/106BOM/2017/unit-166 Integrated Marketing  Themarketer’s task is to devise marketing activities and assemble fully integrated marketing programs to create, communicate & deliver value for consumers.  According to McCarthy these marketing activities can be classified in the form of 4P’s of marketing i.e. Price, Place, and Promotion & Product.
  • 67.
    11/7/2018AIMBA/106BOM/2017/unit-167 Internal Marketing  ensuresthat everyone in the organization embraces appropriate marketing principles especially senior management.  Inetrnal Marketing is the task of hiring, training and motivating able employees who wants to serve customer well.
  • 68.
    11/7/2018AIMBA/106BOM/2017/unit-168 Performance marketing  helpsto understand the returns to the business from marketing activities and programs, as well as addressing broader concerns and their legal, ethical, social & environmental effects.
  • 69.
    11/7/2018AIMBA/106BOM/2017/unit-169 Socially responsible marketing The effects of the marketing clearly extend beyond the company and the customer to society as a whole. Marketers must carefully consider their role in broader terms, and the ethical,social,environmental & legal context of their activities
  • 70.
    11/7/2018AIMBA/106BOM/2017/unit-170 HOLISTIC MARKETING DIMENSIONS: The HolisticMarketing concept is based on the design, development, and implementation of marketing programs, processes and activities that recognizes their breadth and interdependencies.  It recognizes that “Everything Matters” in marketing and that a broad, integrated perspective is often necessary  Let us see the diagram…..
  • 71.
    What is MarketingMyopia? 11/7/2018AIMBA/106BOM/2017/unit-171  A short-sighted and inward looking approach to marketing that focuses on the needs of the company instead of defining the company and its products in terms of the customers' needs and wants. It results in the failure to see and adjust to the rapid changes in their markets. The concept of marketing myopia was discussed in an article (titled "Marketing Myopia," in July-August 1960 issue of the Harvard Business Review) by Harvard Business School emeritus professor of marketing, Theodore C. Levitt (1925-2006), who suggests that companies get trapped in this situation because they omit to ask the vital question, "What business are we in?"
  • 72.
    Now my questionis which of the marketing approaches suffers from Marketing Myopia? 11/7/2018AIMBA/106BOM/2017/unit-172
  • 73.
    11/7/2018AIMBA/106BOM/2017/unit-173 Yes, it's correct Productapproach Production approach Sales Approach It’s observed. How ? Can u explain
  • 74.
    11/7/2018AIMBA/106BOM/2017/unit-174 How to overcomethis Myopia?  That’s why MARKETING Approach Get developed. In ur mind there is ? How marketing concepts is superior ? Yeh..? let us see diagram
  • 75.
    AIMBA/106BOM/2017/unit-1 Marketing Perspectives Marketing Company Orientation Focus: Marketing Department Orientation Focus : Sales-orientation Focus: Push products to beat competition Production-orientation Focus: Sell what it’s easy to produce Coordinate all customer contacts Long-run customer satisfaction 11/7/201875
  • 76.
    11/7/2018AIMBA/106BOM/2017/unit-176  What marketingreally is?  Customer Centric i.e. customer focus  Competition oriented  Outside in approach  Market & demand orientation  FUTURISTIC ORIENTATION & LONG TERM DIRECTION  Customer satisfaction is the key  Survival, growth along with returns in terms of profits can be ensured  Vibrant, dynamic & responsive organization  Improves standard of living of the society at large What is conclusion ?
  • 77.
    11/7/2018AIMBA/106BOM/2017/unit-177 Why Marketing Philosophyis Superior?-A CONCLUSION  Customer is King. He is the reason for the Business.  Organization survival, growth, return & ultimately success depends upon HIM  How the every activities designed & implemented at organization level serve customers better than the competitors
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    11/7/2018AIMBA/106BOM/2017/unit-179 S r. Selling Marketing 1. Focuson needs of seller Focus on needs of buyer 2. Inside out approach Outside in approach 3. Narrow term Broader & comprehensive terms 4. Selling starts with seller and is always preoccupied with the needs of the seller Marketing starts with buyer & focuses constantly on the needs of buyer 5. Emphasize on the saleable surplus available within the corporation Seeks to convert customer needs into products 6. Views business as a “Goods creating Process” “Views business as a customer satisfying 7. Cost determines the price Consumers determine the price 8. Emphasize on somehow” selling” Emphasize on” Integrated Marketing” 9. Production is central Marketing is central function which
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    What is MarketingMix? 11/7/2018AIMBA/106BOM/2017/unit-180  It is set of controllable tool in the form of 4Ps which is used to pursue marketing activities to accomplish marketing objectives in a Target market.  It is a MARKETING MIX through which the COMPANY interacts with TARGET MARKET’S customers.  It is the skill of the marketer to APPROPRIATELY FORMULATE THE MARKETING MIX to solicit the response from target market’s customers.
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    Exercise 4 11/7/2018AIMBA/106BOM/2017/unit-188  Presentation Deliver presentation on marketing Mix of PEPSICO company/Nestle/Malpani/Tata/Reliance Gio/Dabur/Patanjali/Asian paints in a Group of 10 students  Group Discussion  “Marketing mix is a controllable tool used by marketer to respond to changes in marketing environment.”Do you Agree  Identify who says “Selling is Just the Tips of the Iceberg, Marketing is something bigger than that”
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    What are NewMarketing Realities?  Consumer capabilities:  Consumer buying power  Consumer Information  Consumer participation designing, marketing, workshops  Consumer resistance less brand loyal, more price and quality sensitive  Societal forces :  Network Information Technology  Globalization  Deregulation It is the process of removing or reducing state regulations.  Heightened Competition  Industry Convergence Interaction of two or more industries  Retail Transformation Organized retailing  Disintermediation created by the boom of e commerce in delivering products and services 11/7/2018AIMBA/106BOM/2017/unit-190
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    What are newCompany capabilities ? 11/7/2018AIMBA/106BOM/2017/unit-191  Marketers can use the Internet as a powerful information and sales channel  Marketers can collect fuller and richer information about markets, customers, prospects and competitors  Marketers can tap into social media to amplify their brand message  Marketers can facilitate and speed external communication among customers  Marketers can send ads, coupons, samples, and information to customers who have requested them or given company permission to send them  Marketers can reach consumers on the move with mobile marketing  Companies can make and sell individually differentiated goods(acc. to our preference)  Companies can improve purchasing, recruiting, training, and internal and external communications  Companies can facilitate and speed up internal communication among their employees by using internet as a private intranet  Companies can improve their cost efficiency by skillful use of internet  Competitors capabilities
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    Exercise-6 11/7/2018AIMBA/106BOM/2017/unit-192  Conduct competitoranalysis of Snapdeal,flipcart and Amazon?  Discussion Questions:  1.What is competition?  2. Which parameters to consider for competitor analysis  3. Who is strong competitor in given example? Why?  4. What is competitive advantage?
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    Exercise-7 Broader Questions(3-4 pages) 11/7/2018AIMBA/106BOM/2017/unit-195  “Marketing is superior than selling concept” Discuss  How business orient themselves to the changing marketing conditions? What is difference between production orientation and product orientation approach of marketing?  If you are appointed as a Marketing Manager, How will you undertake Customer Need analysis for your products? What tools and techniques do you use?  “Marketing is Demand Management "Explain  Differentiate between market place, meta market and mega market.  Explain the Marketing Myopia concept in detail.
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    Exercise-8 Situational Cases 11/7/2018AIMBA/106BOM/2017/unit-196 Browse the websites of reputed companies and analyze whether the company is really following Marketing concepts ( Refer company’s vision, mission, goals and objectives, their organization structure, their advertisement messages, consumer care sales, initiatives taken to enhance customer satisfaction, customer feedback, customer satisfaction index, new product launches, increase in sales and market shares, brand power and market share prices related information on stock exchanges)