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07/16/14Marketing
1
Unit 1
Introduction :-Definition
07/16/14Marketing
2
Marketing is the process of planning and
executing the conception,
pricing , promotion and distribution of goods to
create exchanges that will satisfy individual and
organizational objectives.
Continue….
07/16/14Marketing
3
Marketing is a social and managerial process by
which individuals and groups obtain what they
need and want through creating and exchanging
products and value with others.
Kotler
The activity, set of institutions, and processess for
creating and exchanging offerings that have value
for customers, partners, clients and society at
large.
McDaniels, Lamb, & Hair
Why study marketing?
07/16/14Marketing
4
Important
to society
Important to
business
Good career
opportunities
• marketing research
• advertising
• retail buying
•Hospitals
•Universities, etc.
• contribute to firm’s
objectives: survival,
profits, growth
•Setting the price
•Develop
distribution strategy,
etc.
• ensure the
availability of foods,
cloths, and shelter to
cater population
size.
Key Concepts
07/16/14Marketing
5
Needs are a state of felt deprivation
Wants are the form taken by human needs as they
are shaped by culture and personality
Demands are human wants backed by purchasing
power
Products is anything that is offered to the market for
sale or consumption
Key Concepts
07/16/14Marketing
6
Customer satisfaction is the degree to which the
product’s perceived performance matches the
customers’ expectation
Exchange is the act of obtaining an object from
someone by offering something in exchange
Markets are made up of the actual and potential
buyers of a product
Marketing Activities
07/16/14Marketing
7
Identifying customer needs
Designing goods and services that meet those needs
Communicating information about these
goods/services to prospective buyers
Making these goods/services available at times and
places that meet customer’s needs
Marketing Activities
07/16/14Marketing
8
Pricing goods or services to reflect costs, competition
and customers’ ability to buy
Providing for the necessary service and follow up to
ensure customer satisfaction after the purchase
marketing management orientations..
07/16/14Marketing
9
a) Production concept
 This concept assumes that customers will want to buy
products or services that are easily available and
affordable. Therefore management focuses on
production efficiency and distribution. This concept is
useful when demand for a product exceeds the supply.
 Can lead to ‘marketing myopia’
marketing management orientations…cont’
07/16/14Marketing
10
b) Product concept.
 This concept holds that consumers will favor
products that offer the most quality and
innovative features.
 Such companies therefore concentrate on making
continuous product improvements.
 The risk here is that managers get trapped in the
‘better mousetrap’ fallacy and lose sight of the
long term goals of the firm and the needs of the
customers.
07/16/14Marketing 11
COLOUR PENCIL OFFERED BY
FABER CASTELL:- NON-TOXIC
SAFE FOR CHIDREN
1.1.3 marketing management orientations…
cont’
07/16/14Marketing
12
c) Selling concept.
 Refer to the firms who assumes that consumers will
not buy the firm’s products unless it undertakes
aggressive selling.
 The consequences are hard selling techniques. Most
firms practice this concept when they have over
capacity.
 High risk ~ focused on creating transaction rather
than building long term relationship.
 Eg: unsought product : insurance – track down
prospect and sell them on product benefit.
marketing management orientations…cont’
07/16/14Marketing
13
d) Marketing concept.
 The marketing concept holds that achieving
organizational goals depends on determining the
needs and wants of target markets. It takes an
outside-in approach.
 It recognizes the customer as the most important
and aims at complete customer satisfaction. The
marketing concept requires and integrated
marketing effort.
 Customer-driving marketing
Selling conceptsSelling concepts Marketing conceptsMarketing concepts
07/16/14Marketing
 Inward, on the organization’s
need.
 Selling goods and services
 Everybody
 Profit through maximum sales
volume
 Goal can be achieve through
intensive promotion
 Outwards, on the wants and
reference of customers
 Satisfying customer need & wants
by delivering superior value
 Specific groups and people
 Profit through customer
satisfaction
 Through coordinated marketing
and inter-functional activities.
14
Differences between selling & marketing concepts:
marketing management orientations…cont’
07/16/14Marketing
15
e) Societal Marketing Concept
 Concern for public – depleting ozone layer, pollution,
health concern.
 Deliver superior value to customers in a way that
maintains or improves the customer’s and the society’s
well being
 Eg:- STAR: offers STAR Scholarship and organize STAR
education fair.
 Eg:- FABER CASTELL
07/16/14Marketing
16
• The World's native forests are a 'celebration' to the diversity of life
and colour.
• Forestry plantations help preserve and maintain native forests by
providing an alternative and renewable resource for our future
generations.
• In Brazil, Faber-Castell manages 10.000 hectares of pine plantations
as a source of raw material for over 1.5 billion pencils annually.
• Tree nurseries produce over 1 million seedlings per year and
generate 20 m3 of wood every hour (= 1 truck). The Faber-Castell
forests and factories have been certified by the Forest Stewardship
Council (FSC) as environmentally responsible, socially beneficial
and economically sustainable.
• The FSC is a committe of the world's most powerful forestry experts,
including organizations such as Greenpeace and WWF.
07/16/14Marketing 17
Aerial view of part of
Faber-Castell's pine plantations
Tree nursery in Brazil
Marketing Philosophies
07/16/14Marketing
18
Adopting of the marketing concept can be
triggered by any one of the following:
 Poor sales performance.
 Low company growth.
 Increased competition.
 Higher consumer demand expectation.
 More legislation.
1.2 Marketing Mix
07/16/14Marketing
19
a. Product.
 Includes decisions on quality, features, design,
packaging of the product.
b. Price.
 Includes discount methods, adjustments to
prices and payment terms.
c. Promotion.
 Advertising, personal selling, sales promotion
and publicity.
Marketing mix…cont’
07/16/14Marketing
20
d. Place (distribution).
 To have the proper quantities at the right time and
place. Distribution involves:
o transportation,
o ware-housing,
o inventory control and;
o selection of marketing channels and distribution
network.
07/16/14Marketing 21
07/16/14Marketing 22
07/16/14Marketing 23
Marketing Functions
07/16/14Marketing
24
Exchange function
 Buying and selling
Physical distribution functions
 Transporting and storing
Facilitating functions
 Standardization and grading
 Financing
 Risk taking
 Marketing information
Goals of Marketing System
07/16/14Marketing
25
Maximize consumption.
 Marketing stimulates consumption.
Maximize choice.
 Maximize product variety and consumer choice.
Maximize life quality.
 Quality of life includes the quality, quantity, availability
and cost of goods, the quality of physical environment.

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Unit 1 marketing_overview-2

  • 2. Introduction :-Definition 07/16/14Marketing 2 Marketing is the process of planning and executing the conception, pricing , promotion and distribution of goods to create exchanges that will satisfy individual and organizational objectives.
  • 3. Continue…. 07/16/14Marketing 3 Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Kotler The activity, set of institutions, and processess for creating and exchanging offerings that have value for customers, partners, clients and society at large. McDaniels, Lamb, & Hair
  • 4. Why study marketing? 07/16/14Marketing 4 Important to society Important to business Good career opportunities • marketing research • advertising • retail buying •Hospitals •Universities, etc. • contribute to firm’s objectives: survival, profits, growth •Setting the price •Develop distribution strategy, etc. • ensure the availability of foods, cloths, and shelter to cater population size.
  • 5. Key Concepts 07/16/14Marketing 5 Needs are a state of felt deprivation Wants are the form taken by human needs as they are shaped by culture and personality Demands are human wants backed by purchasing power Products is anything that is offered to the market for sale or consumption
  • 6. Key Concepts 07/16/14Marketing 6 Customer satisfaction is the degree to which the product’s perceived performance matches the customers’ expectation Exchange is the act of obtaining an object from someone by offering something in exchange Markets are made up of the actual and potential buyers of a product
  • 7. Marketing Activities 07/16/14Marketing 7 Identifying customer needs Designing goods and services that meet those needs Communicating information about these goods/services to prospective buyers Making these goods/services available at times and places that meet customer’s needs
  • 8. Marketing Activities 07/16/14Marketing 8 Pricing goods or services to reflect costs, competition and customers’ ability to buy Providing for the necessary service and follow up to ensure customer satisfaction after the purchase
  • 9. marketing management orientations.. 07/16/14Marketing 9 a) Production concept  This concept assumes that customers will want to buy products or services that are easily available and affordable. Therefore management focuses on production efficiency and distribution. This concept is useful when demand for a product exceeds the supply.  Can lead to ‘marketing myopia’
  • 10. marketing management orientations…cont’ 07/16/14Marketing 10 b) Product concept.  This concept holds that consumers will favor products that offer the most quality and innovative features.  Such companies therefore concentrate on making continuous product improvements.  The risk here is that managers get trapped in the ‘better mousetrap’ fallacy and lose sight of the long term goals of the firm and the needs of the customers.
  • 11. 07/16/14Marketing 11 COLOUR PENCIL OFFERED BY FABER CASTELL:- NON-TOXIC SAFE FOR CHIDREN
  • 12. 1.1.3 marketing management orientations… cont’ 07/16/14Marketing 12 c) Selling concept.  Refer to the firms who assumes that consumers will not buy the firm’s products unless it undertakes aggressive selling.  The consequences are hard selling techniques. Most firms practice this concept when they have over capacity.  High risk ~ focused on creating transaction rather than building long term relationship.  Eg: unsought product : insurance – track down prospect and sell them on product benefit.
  • 13. marketing management orientations…cont’ 07/16/14Marketing 13 d) Marketing concept.  The marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets. It takes an outside-in approach.  It recognizes the customer as the most important and aims at complete customer satisfaction. The marketing concept requires and integrated marketing effort.  Customer-driving marketing
  • 14. Selling conceptsSelling concepts Marketing conceptsMarketing concepts 07/16/14Marketing  Inward, on the organization’s need.  Selling goods and services  Everybody  Profit through maximum sales volume  Goal can be achieve through intensive promotion  Outwards, on the wants and reference of customers  Satisfying customer need & wants by delivering superior value  Specific groups and people  Profit through customer satisfaction  Through coordinated marketing and inter-functional activities. 14 Differences between selling & marketing concepts:
  • 15. marketing management orientations…cont’ 07/16/14Marketing 15 e) Societal Marketing Concept  Concern for public – depleting ozone layer, pollution, health concern.  Deliver superior value to customers in a way that maintains or improves the customer’s and the society’s well being  Eg:- STAR: offers STAR Scholarship and organize STAR education fair.  Eg:- FABER CASTELL
  • 16. 07/16/14Marketing 16 • The World's native forests are a 'celebration' to the diversity of life and colour. • Forestry plantations help preserve and maintain native forests by providing an alternative and renewable resource for our future generations. • In Brazil, Faber-Castell manages 10.000 hectares of pine plantations as a source of raw material for over 1.5 billion pencils annually. • Tree nurseries produce over 1 million seedlings per year and generate 20 m3 of wood every hour (= 1 truck). The Faber-Castell forests and factories have been certified by the Forest Stewardship Council (FSC) as environmentally responsible, socially beneficial and economically sustainable. • The FSC is a committe of the world's most powerful forestry experts, including organizations such as Greenpeace and WWF.
  • 17. 07/16/14Marketing 17 Aerial view of part of Faber-Castell's pine plantations Tree nursery in Brazil
  • 18. Marketing Philosophies 07/16/14Marketing 18 Adopting of the marketing concept can be triggered by any one of the following:  Poor sales performance.  Low company growth.  Increased competition.  Higher consumer demand expectation.  More legislation.
  • 19. 1.2 Marketing Mix 07/16/14Marketing 19 a. Product.  Includes decisions on quality, features, design, packaging of the product. b. Price.  Includes discount methods, adjustments to prices and payment terms. c. Promotion.  Advertising, personal selling, sales promotion and publicity.
  • 20. Marketing mix…cont’ 07/16/14Marketing 20 d. Place (distribution).  To have the proper quantities at the right time and place. Distribution involves: o transportation, o ware-housing, o inventory control and; o selection of marketing channels and distribution network.
  • 24. Marketing Functions 07/16/14Marketing 24 Exchange function  Buying and selling Physical distribution functions  Transporting and storing Facilitating functions  Standardization and grading  Financing  Risk taking  Marketing information
  • 25. Goals of Marketing System 07/16/14Marketing 25 Maximize consumption.  Marketing stimulates consumption. Maximize choice.  Maximize product variety and consumer choice. Maximize life quality.  Quality of life includes the quality, quantity, availability and cost of goods, the quality of physical environment.

Editor's Notes

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