2. WHAT IS MARKETING
The American Marketing Association
offers the following formal definition:
“Marketing is an organizational function
and a set of processes for creating,
communicating, and delivering value to
customers and for managing customer
relationships in ways that benefit the
organization and its stakeholders”.
3. The aim of Marketing is to have:
the right product or service
at the right price
at the right place
at the right time
4. THE IMPORTANCE OF
MARKETING
What price, where to sell & how much to
spend on advertising
four utilities: firm, place, time and possession
built demand for product & service
building strong brands
what features to design of new products &
services
inspire enhancements in existing products in
marketplace
growth of social networking
5. How marketing bridges the GAP between
producers and consumers
How marketing bridges
GAPS the GAP
Space Assembly, transportation,
distribution
Time Storage, financing, and risk taking
Perception (knowledge) Communication mass media
Ownership Customer contact, termination of
sale
Value Price, terms of sale
7. What Is Marketed?
GOODS
SERVICES
EVENTS
EXPERIENCES
PERSONS
PLACES
PROPERTIES
ORGANIZATION
INFORMATION
IDEAS
8. Who Markets it?
A marketer is someone seeking a response
(attention, purchase, vote, donation, etc.)
from another party called the prospect.
MARKETS Marketers use the term “market” to
cover various groups of customers. The five
basic markets are:
A) Resource Markets
B) Government Markets
C) Manufacturer Markets
D) Intermediary Markets
E) Consumer Markets
9.
10. The marketplace is physical,
The market space is digital,
The meta market is a cluster of complementary
products and services that are closely related in
the consumer‟s mind but spread across a diverse
set of industries.
11. Key customer market
Consumer markets
Business markets
Global markets
Nonprofit and governmental markets
18. Is not „selling‟ a part of
„marketing‟?
Certainly yes; but marketing recognizes the futility
of „pushing‟ that is inherent in the sales approach.
In the marketing approach, there is no need for
pushing the product on the consumers
Does not marketing seek profit just
as selling does?
Yes; but selling seeks profits by pushing the
products on the consumers, while marketing seeks
profits by creating value satisfaction for the
consumers
23. The Meaning of Value in Marketing
Benefits Translate into Value
All buyers seek Value in all their purchases and they look for it in the form of
benefits.
The Concept of Customer Value
Customer Value is the composite of tangible values as well as
intangible values.
Customer Value, Customer Cost, and Customer Satisfaction
“Paisa Vasool Approach”
Value Takes Precedence Even Over Brand Name
Nike, Reebok, and Adidas could not succeed in India on brand name alone
In Durables too, Value Becomes Vital for Indian Consumers
27. The EVOLUTION of marketing concept
self-sufficient stage: produce what farmers want, no
surplus
exchange-oriented stage: engaged in agriculture and
allied operations, surplus production came (barter
system)
production-oriented stage: consumption is sole end
and purpose of production
sales-oriented stage: realized the purpose and
importance of marketing
marketing-oriented stage: evil effects of competition
made the producers realize that the product could not
be sold without an effective sales force
consumer oriented stage: factors of production had to
be organized with full priori understanding
management-oriented stage
28. PRODUCTION CONCEPT:- china market
PRODUCT CONCEPT:-
SELLING CONCEPT
MARKETING CONCEPT
HOLISTIC OR SOCIETAL CONCEPT
CONTEMPORARY CONCEPTS
RELATIONSHIP MARKETING OR RELATIONSHIP
MANAGEMENT
BUSINESS MARKETING OR INDUSTRIAL MARKETING
SOCIETAL MARKETING
BRANDING
34. FMCG and FMCD Sectors
FMCD Spurt: Mobile sets/AC’s/Two wheelers/Passenger
car etc.
• Steady growth due to rising consumer income and
falling prices.
Call of the Mall : The Retail Boom
India’s retail industry expected to hit $ 255 billion in 2010
According to a CII Report, the year 2010 will see a 10 per
cent contribution by modern retail to all FMCG.
In metros, this figure is expected to be 30 per cent.
The Media, Advertising and Entertainment Scene
The Media Revolution
TV spearheading the media revolution
35. The Rural Marketing Scene
Rural income now exceeds urban income by handsome
margin
Rural market accounts for a large share of the expenditure on
manufactured and branded consumer goods.
Rural children take to English education
30% of rural children go to private English medium schools
Rural market carries huge opportunities; also huge challenges
India to become an economic power, boosted by sustained
economic growth, high savings, and rising exports
Expansion and diversification in the manufacture and
marketing of consumer goods is on
Evolution of a large middle class is taking place
Rural areas have emerged as a large and growing
market
