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3. MARKETING CONCEPTS ,
IMPORTANCE OF MARKETING AND
TRENDS IN MODERN MARKETING
BY
M.VINITH KUMAR

4. DEFINITION OF MARKETING
The American Marketing Association:
“The process of planning and executing the
conception, pricing, promotion and distribution of
ideas, goods, and services to create exchanges that
satisfy individual and organizational objectives.”

5. IMPORTANCE OF MARKETING
• Marketing Promotes Product
Awareness to the Public

6. • Marketing Helps Boost
Product Sales
IMPORTANCE OF MARKETING

7. IMPORTANCE OF MARKETING
• Marketing Builds Company
Reputation

8. TYPES OF MARKETING
• Online Marketing

9. • Offline Marketing

10. • Word of Mouth Marketing

11. MARKETING CONCEPTS
Definition
Marketing concepts can be defined as the marketing philosophies by which a firm’s goal
can be best achieved through identification and satisfaction of the customers’ stated
and unstated needs and wants.
Meaning
Companies adopt different philosophies in relation to marketing of their products. Some
claim that they are customer oriented and others say that they offer value to their
customers. Still others say that they treat their customers as kings. These philosophies
in relation to marketing are known as marketing concepts.

12. TYPES OF MARKETING CONCEPTS

13. COMPARISON BETWEEN SELLING AND MARKETING
CONCEPT

14. DIFFERENCE BETWEEN TRADITIONAL AND MODERN
CONCEPT
Traditional Concept Modern Concept
1. Focus is on product only
2. Objective is profit maximisation
3. Short-term oriented
4. Less promotional activities
5. Narrow concept
1. Focus is on customers’ needs and wants
2. Objective is customer satisfaction and
customer delight
3. Long term oriented
4. Sustained promotional activities
5. Border concept

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