Marketing is defined as the process of building profitable customer relationships by creating value for customers and capturing value in return. The marketing process involves 5 steps: 1) Understanding customer needs and wants through research; 2) Designing a customer-driven marketing strategy through market segmentation, targeting, and positioning; 3) Constructing a marketing program involving the 4Ps - product, price, place, and promotion; 4) Building profitable relationships with customers and suppliers through relationship management; 5) Capturing value from customers in the form of revenue, profit, loyalty, and market share.

1. WHAT IS
MARKETING?
Prof. Sameer Mathur,
Ph.D.

2. Agenda
What is Marketing?
The Marketing Process

3. Sameer Mathur
Marketing Professor 2009 – 2013
Ph.D. and M.S. (Marketing) 2003 – 2009
Marketing Professor 2013 –
Indian Institute of Management,
Lucknow

4. 4
The process of building profitable
customer relationships by
creating value for customers and
capturing value in return.
What is Marketing?

5. 5
Understand Customer Needs
and Wants
Design a Customer-Driven
Market Strategy
Construct a Marketing program
Build Profitable Relationships
Capture value from Customers
The Marketing Process

6. 6
The Marketing Process – I
• Research
Consumers and the
Marketplace
• Manage Marketing
Information and
Customer Data
Understand
Customer
Needs and
Wants

7. 7
The Marketing Process – II
• Select Consumers to
Serve – Market
Segmentation and
Targeting
• Value Proposition –
Differentiation and
Positioning
Design a
Customer-
driven
Marketing
Strategy

8. 8
The Marketing Process – III
• PRODUCT and Service
Design – Build Strong
Brands
• PRICE – Create Real Value
• PLACE – Manage demand
and Supply Chain
• PROMOTION – Create the
Value Proposition
Construct a
Marketing
Program that
Delivers
Superior
Value

9. 9
The Marketing Process – IV
• Customer Relationship
Management – with
chosen customers
• Product Relationship
Management – with
chosen suppliers
Build
Profitable
Relationships

10. 10
• Generate Revenue,
Earn Profit
• Create loyal, satisfied
customers
• Capture Customer
Lifetime Value
• Increase Market Share
Capturing
Value from
Customers
in return
The Marketing Process – V

11. 11
Understand Customer Needs
and Wants
Design a Customer-Driven
Market Strategy
Construct a Marketing program
Build Profitable Relationships
Capture value from Customers
The Marketing Process

12. Summary
What is Marketing?
The Marketing Process

13. Read this book
“This book is the
bible of Marketing”
Prof. Sameer Mathur