The document provides information on key marketing concepts including the 4 Ps of marketing (product, place, price, and promotion), the marketing process, consumer behavior, and factors influencing buying decisions. It defines marketing as getting potential customers interested in products/services through researching, promoting, selling, and distributing. The 4 Ps framework explains key elements of a marketing strategy. Consumer behavior is influenced by psychological, social, cultural, personal and economic factors. The stages of consumer buying behavior are identifying needs, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation.

1. Unit 1 Introduction

3. What is Marketing
• Marketing is the process of getting potential
clients or customers interested in your
products and services. The keyword in this
definition is "process". Marketing involves
researching, promoting, selling, and
distributing your products or services.

4. Views: 3.2 million- Why it went viral
• The holidays are a time that naturally brings the best in us.
By reminding the audience that it is supposed to be the
“season of giving”, the commercial touches that part of us
that feels good when good people get rewarded for their
hard work.
• What marketers can learn from this video
• Even small acts of kindness can be incredibly touching —
especially when they are unexpected. For a company, the
bonus part of inserting those acts in a marketing strategy is
that it helps to build a brand that is perceived as generous
and human.

5. • https://rockcontent.com/blog/video-
marketing-examples/

6. The 4 Ps of Marketing
• Product. Having a product is key and is the root of all
things marketing. A product could be anything that a
company offers consumers to satisfy a need. The best thing
to do is to decide on your product or service based both on
the needs and motivations of consumers and how the
product would benefit the consumer, rather than on the
object’s physical characteristics or attributes.
• Place. Strategic merchandising locations can be anything
from an online store to a channel of physical stores across
multiple towns or countries. The goal of the distribution
strategy is to enable potential clients to have easy access to
your products/services as well as offer a good experience
throughout the purchasing process.

7. • Price. How you price your products and services is an
extremely important part of the marketing strategy. This
factor affects other factors such as:
– The margin you hope to obtain.
– What target market do you want to appeal to and what
purchasing power do your consumers have? Do you want to
enter the luxury market or the mass market?
– The company's financial goals.
– How does the competition price their products and what
possible product substitutes are there?
– Trends and fads.
– Increasing your price in order to give a better perception of
quality.

8. • Promotion. This refers to all
the marketing and communication that is
done in order to showcase the benefits of
your product or service within the market.
This is how you increase sales.

9. What Does Marketing Do for Your Business?
• Raising Brand Awareness-This is important because it
gets people acquainted with your brand and the
products or services you provide. It also makes you
memorable to customers who can begin to trust your
brand, become loyal clients, and tell their network
about you.
• Generating Traffic-Growing the number of visitors to
your site means getting more qualified leads (lead
scoring can help determine this) and
ultimately increasing your sales. An effective marketing
strategy will help you through this process.

10. • Increasing Revenue-Every business want to increase their
sales and marketing can help achieve this goal through a
variety of strategies like optimizing your website and SEO,
creating email campaigns, performing A/B tests to pinpoint
the best strategy for you, and much more.
• Building Trust in Your Brand-Creating a high level of trust in
your brand leads to customer loyalty and repeat purchases.
This not only increases revenue but also leads to great
reviews both online and by word of mouth, which is still
one of the most effective types of promotion.

11. Core Concepts of Marketing

12. • Needs:Existence of unmet needs is precondition to
undertake marketing activities. Marketing tries to
satisfy needs of consumers. Human needs are the state
of felt deprivation of some basic satisfaction. A need is
the state of mind that reflects the lack-ness and
restlessness situation.
• Wants:Wants are the options to satisfy a specific need.
They are desire for specific satisfiers to meet specific
need. For example, food is a need that can be satisfied
by variety of ways, such as sweet, bread, rice, sapati,
puff, etc. These options are known as wants. In fact,
every need can be satisfied by using different options.

13. • Demand:Demand is the want for specific products that are backed
by the ability and willingness (may be readiness) to buy them. It is
always expressed in relation to time. All wants are not transmitted
in demand. Such wants which are supported by ability and
willingness to buy can turn as demand.
• Product:Product can also be referred as a bundle of satisfaction,
physical and psychological both. Product includes core product
(basic contents or utility), product-related features (colour,
branding, packaging, labeling, varieties, etc.), and product-related
services (after-sales services, guarantee and warrantee, free home
delivery, free repairing, and so on). So, tangible product is a package
of services or benefits. Marketer should consider product benefits
and services, instead of product itself.

14. • Utility (value), Cost, and Satisfaction:Utility
means overall capacity of product to satisfy need
and want. It is a guiding concept to choose the
product. Every product has varying degree of
utility. As per level of utility, products can be
ranked from the most need-satisfying to the least
need-satisfying.
• Exchange, Transaction, and Transfer:Exchange is
in the center of marketing. Marketing
management tries to arrive at the desired
exchange.

15. • Relationships and Network:Today’s marketing
practice gives more importance to relation
building. Marketing practice based on relation
building can be said as relationship marketing.
Relationship marketing is the practice of
building long-term profitable or satisfying
relations with key parties like customers,
suppliers, distributors, and others in order to
retain their long-term preference in business.

16. • Market, Marketing, Marketer, and Prospect: In marketing management,
frequently used words are markets, marketing, marketer, and prospects. A
market consists of all potential customers sharing a particular need or
want who might be willing and able to engage in exchange to satisfy this
need or want.
• Marketing is social and managerial process by which individuals and
groups obtain what they need and want through creating and exchanging
product and value with others.
• Marketer is one who seeks one or more prospects (buyers) to engage in an
exchange. Here, seller can be marketer as he wants other to engage in an
exchange. Normally, company or business unit can be said as marketer.
• Prospect is someone to whom the marketer identifies as potentially
willing and able to engage in the exchange. (In case of exchange between
two companies, both can be said as prospects as well as marketers).
Generally, consumer or customer who buys product from a company for
satisfying his needs or wants can be said as the prospect.

17. Marketing challenges in a Globalized
Economic Scenario
• Importance of Local Market- The creative concept that
aligns in one territory may fall flat in another for any
number of reasons. Adapting an idea to suit diverse
cultures while remaining true to the key messages behind
the campaign remains a major challenge for global brands.
• Conveying these creative, intellectual and emotional
elements safely across different markets is one mighty task.
But our digital media -with all the technical, channel
options available – makes the scenario even more complex.
• Driving local consumer at the highest possible level is an
ongoing work in progress. It is not astonishing to me when
considering the different levels of marketing maturity, legal
and cultural issues across the globe.

18. • How marketers can measure and improve-Measuring ROI is a
challenge for all marketers especially for global marketers as they
need to report on campaign performance in different regions, with
large budgets at stake. Lastly global marketers are judged on the
performance of their campaigns, how ROI can be achieved.
• It’s clear that key performance areas (KPA) from the beginning is
essential for balanced outcome. Yet, at the same time, global
marketers have to be flexible regarding the interpretation of data
which comes from several different environments that can make it
meaningful and comprehensive. Delivering consistent results across
plethora of channels and geographies remains a challenge,
particularly when there is requirement for short-term results.
• If a marketing campaign does not perform well, a deep dissection
needs to be carried out so that lessons can be learnt and measures
can be taken to improve the future campaign.

19. • Creativity- Another challenge is to strive for global
campaign consistency, at the same time to have focus on
local market. The crux of acting on global platform while
thinking on local market aspect remains a central tenet for
global marketing directors.
• Localisation is the big idea for different markets worldwide.
But the methodology for doing so is somewhat polarised.
Whichever route people are taking, it’s clear that focus on
local market and smart implementation are firmly on the
agenda while devising marketing campaign. Whether you
carry out your global campaign in-house, or trust a partner
agency to adapt a campaign, it’s important to put as much
effort in the implementation of the campaign, as you would
in the creative development.

20. • Customer wants and needs- Global marketers need to align
their campaigns to cater diverse cultural and social needs.
It’s just part of the puzzle that marketers need to bring
together. But target messages should reach on global scale
in order to requires a deep understanding of how
industries, geography and demographics will react to the
messages.
• Brand affinity and consumer behaviour are affected further
by the strength of country’s economy which is another
aspect of complexity.
• Exhaustive market research is required to validate not only
the creative idea but also the tactics deployed to bring the
brand message to market. Research and Testing is a crucial
step towards global campaign success.

21. • Digital, Social and Technological Outcome- Integration of social elements
into a wider campaign remains a key for many global marketers. Reliable
report about the impact of social awareness and sales remains murky
despite the voluminous data. Such report is sometimes hard to align with
the more traditional ROI indicators from advertising or direct marketing.
• Technology has made global marketers’ lives a lot easier. Yet there is risk
to it. It should be made of creative ideas, following a strategic and
operational vision. Digital Asset remains a tactical challenge. It’s also
important to know which assets are being used, which are needed, and
which assets can no longer be used due to expired usage rights.
Technology can facilitate the validation process by using cloud validation
tools which allow local and global marketers to review market
performance. Before switching to any new technology, it is always
recommended that carrying out a trial to ensure the technology works
because what may work for one brand, may prove difficult for another.

22. Activity
Tesla’s “$0
Marketing Budget

23. What is customer value?
• Customer value is the satisfaction the
customer experiences (or expects to
experience) by taking a given action relative to
the cost of that action.
• The given action is traditionally a purchase,
but could be a sign-up, a vote or a visit, while
the cost refers to anything a customer must
forfeit in order to receive the desired benefit,
such as money, data, time, knowledge.

24. Perceived Value = Perceived Benefits
/ Cost
• In other words, for a given set of benefits, as the cost rises,
the perceived value drops.
• This is an important point. Value does not refer to price. It
refers to the perceived benefits stood to be gained in the
context of price. Cost is only part of the equation. Literally.
• Two identical products with identical exposure can only
compete on cost. Two differentiated products do not have
to compete on cost. Products are not just differentiated by
their features. They can also be differentiated because of
their brand. If Toyota brings out a car, you may presume it’s
reliable because one of its key brand features is reliability. If
another carmaker releases a near-identical car, they may
struggle to compete because they do not share the same
customer perceptions.

25. The Customer Value Delivery Cycle

26. • Think of everything you do in terms of delivering value to your
customers and audience with the understanding that they have
choices and you are not the only choice.
• Understand your market well enough that you can break it down
into individual segments with unifying characteristics that will
respond in the same way to a given value proposition.
• Always look for the opportunity to create new value propositions. If
you sit on your laurels, your competition won’t.
• Look for avenues to communicate this value at the right time and in
the right place.
• Listen to your customers. Learn their perceptions about what you
offer. Do not hesitate to change based on what you learn. The
customer, in this case, is always right.

27. What is Consumer Behaviour?
• Consumer behaviour is the study of how individual
customers, groups or organizations select, buy, use, and
dispose ideas, goods, and services to satisfy their needs
and wants. It refers to the actions of the consumers in the
marketplace and the underlying motives for those actions.
• Marketers expect that by understanding what causes the
consumers to buy particular goods and services, they will
be able to determine—which products are needed in the
marketplace, which are obsolete, and how best to present
the goods to the consumers.

28. What are Buying Motives?
• In the words of D. J. Durdian, “Buying motives
are those influences or considerations which
provide the impulse to buy, induce action or
determine choice in the purchase of goods
and services.”

29. Factors Influencing Buying
Behaviour
• Psychological Factors
• Social Factors
• Cultural Factors
• Personal Factors
• Economic Factors

30. Psychological Factors

31. Social Factors
• Humans are social beings and they live around many
people who influence their buying behavior. Human try to
imitate other humans and also wish to be socially accepted
in the society. Hence their buying behavior is influenced by
other people around them. These factors are considered as
social factors. Some of the social factors are:
• Family
• Reference Groups
• Roles and status

32. Cultural factors
• A group of people are associated with a set of values and
ideologies that belong to a particular community. When a
person comes from a particular community, his/her
behavior is highly influenced by the culture relating to that
particular community. Some of the cultural factors are:
• Culture
• Subculture
• Social Class

33. Personal Factors
• Factors that are personal to the consumers influence their
buying behavior. These personal factors differ from person
to person, thereby producing different perceptions and
consumer behavior.
• Age
• Income
• Occupation
• Lifestyle

34. Economic Factors
• The consumer buying habits and decisions greatly depend on the
economic situation of a country or a market. When a nation is prosperous,
the economy is strong, which leads to the greater money supply in the
market and higher purchasing power for consumers. When consumers
experience a positive economic environment, they are more confident to
spend on buying products.
• Personal Income
• Family Income
• Consumer Credit
• Savings

35. 5 Stages of Consumer Buying
Behavior
• Identify the Problem- This is the first stage of the buying process. A
consumer will not initiate a purchase without the recognition of the needs
or wants. When a consumer feels the need to buy a particular product, he
will go for a purchase decision. There is an unmet need or there is a
problem which can be solved by buying a particular product.
• Needs arise as there is a problem. For example, you broke your table that
you were regular ling using for your business. And due to this problem,
you now have to buy a new table.
• Wants arise either because you have need a product or just because you
are influenced by external factors. For example, you see your friends using
a laptop for their project work. You might also have seen numerous
advertisements about how a laptop can help you in your project work.
Due to this influence, you feel you want to upgrade to a laptop though you
may already have a desktop.
• In this stage, the marketer should identify the needs of the consumers and
offer the products based on the desire.

36. Information search
• At this stage, the consumer is aware of his need or want. He also knows
that he wants to buy a product that can relive his problem. Therefore, he
wants to know more about the product that can relive of his problem. This
leads to the information search stage.
• The consumer will try to find out the options available and the best
solution for his problem. The buyer will look for information in internal
and external business environments. A consumer may look into
advertisements, print, videos, online and even might ask his friends and
family.
• When consumers want to buy a laptop, they look for a laptop, its features,
price, discounts, warranty, after sales service, insurance, and a lot of other
important features.
• Here, a marketer must offer a lot of information about the product in the
form of informative videos, demos, blog, how-to-do videos, and celebrity
interviews.

37. Evaluation of Alternatives
• By now the consumer has done enough research about the kind of
product that can solve his problem. The next step is to evaluate alternative
products that can solve his problem. Various points of information
gathered from different sources are used in evaluating alternatives.
• Generally, consumers evaluate the alternatives based on a number of
attributes of the product. Looks, durability, quality, price, service,
popularity, brand, social media reviews are some to the factors that
consumers consider.
• The market offers many products that can solve the problem of a
consumer. Hence the consumer has to make a choice after evaluating the
various alternatives available.
• At the end of this stage, the consumer will rank his choices and pick a
product that best matches his needs and wants.

38. Purchase Decision/Purchase
• At this point, customers have already explored multiple options. They are aware of the pricing and
payment options available. Here, consumers are deciding whether to buy that product or not. Yes,
even at this stage they can still drop the purchase and walk away.
• Philip Kotler (2009) says, the final purchase decision may be ‘interrupted’ by two factors. Customer
may get a negative feedback from friends or other customers who bought it. For example, a
customer shortlisted a laptop, but his friend gave a negative feedback. This will make him to change
his decision. Furthermore, the decision might also change. Sudden change in business plans,
financial crunch, unexpected higher prices, etc. might lead the consumer to drop the idea of buying
the laptop.
• The Consumer, chooses the product that he wants to buy, but many times, he may not actually buy
it for various reasons. At this stage, a marketer should find out the various reasons due to which the
consumer is hesitating to buy. The reasons could be price, value, and change in the needs of the
consumer.
• Marketer needs to step up the game. Start by reminding the customers of the reason behind their
decision to buy the product. Furthermore give as much information regarding your brand
reiterating that you are the best provider of the product that can fulfill his needs.
• Retargeting by simple email reminders can enforce the purchase decision.

39. Post-Purchase Evaluation
• This is the last stage and most often ignored by marketers.
• After buying the product, customers compare products with their
expectations. There can be two outcomes: Either satisfied or
dissatisfied. Consumers will be happy after buying the product if it has
satisfied their needs. But in case the product was not up to his
expectations, the consumer will be dissatisfied. A consumer can be lost
even at this stage.
• A dissatisfied customer might feel as though he took an incorrect decision.
This will result in returns! Offering an exchange will be a straightforward
action. However, even when a customer is satisfied, there is no guarantee
that the customer might be a repeat customer.
• Customers, either satisfied or dissatisfied, can take actions tot distribute
their experience in the form of customer reviews. This may be done
through reviews on customer forums, website, social media conversations
or word of mouth.
• A marketer has to make sure that the consumer will be satisfied with the