Principles of Marketing (waqas@hazara.edu.pk)

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A Series of Lectures By:
Waqas Ahmad Khan
M.Phil. (Quality Assurance Management)

These lectures on Marketing were delivered by Waqas Ahmad Khan in MBA, ACCA and CAT classes of different Colleges and Universities.
+92-300-9119770

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Principles of Marketing (waqas@hazara.edu.pk)

  1. 1. Principles of Marketing Lecture-1 By: Waqas Ahmad Khan MBA, M.Phil (Pak), PPM (Philippines), SIX SIGMA GREEN BELT (Singapore), Certified QAM (QPSP) Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  2. 2. Profile <ul><li>Ex- Country Manager </li></ul><ul><ul><li>Gohar Publishers / Hamdard Pakistan </li></ul></ul><ul><li>Secretary General </li></ul><ul><ul><li>National Education Council Pakistan </li></ul></ul><ul><li>Member </li></ul><ul><ul><li>Marketing Association of Pakistan </li></ul></ul><ul><li>Master Trainer </li></ul><ul><ul><li>FHRI, CCE, ESL,VU </li></ul></ul><ul><li>ICT Consultant (2007) </li></ul><ul><ul><li>Asian Development Bank </li></ul></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  3. 3. Feel free to contact at <ul><li>+92-300-9119770 </li></ul><ul><li>[email_address] </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  4. 4. Today’s Topics <ul><li>Introduction-an overview of marketing </li></ul><ul><li>Road map </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  5. 5. <ul><li>Introduction of Marketing </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  6. 6. Music to a Marketer’s Ears <ul><li>“ They’re the best.” </li></ul><ul><li>“ I always eat there.” </li></ul><ul><li>“ I only fly with that airline.” </li></ul><ul><li>“ I buy my electronics at that store.” </li></ul><ul><li>“ I will prefer to go in that school.” </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  7. 7. Advertising Sales Promotions Public relations Sponsorships Pricing Retailing Direct mail Catalogues Billboards E-commerce Shopping channels Packaging Delivery Service Research Coupons
  8. 8. Definition <ul><li>Marketing: The process of creating consumer value in the form of goods, services, or ideas that can improve the consumer’s life. </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  9. 9. What is marketing ? <ul><li>More than selling and advertising </li></ul><ul><li>Identifying and satisfying customers needs </li></ul><ul><li>Range of activities (marketing mix - 4P’s) </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  10. 10. What is Marketing? Learning to make what you can sell vs. selling what you can make. Identifying and satisfying customer needs and wants. Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  11. 11. Peter Drucker <ul><li>Goal of all organizations is to gain and retain customers </li></ul><ul><li>Innovation and marketing are the only two ways to achieve the goal </li></ul><ul><li>“ The rest only adds cost ” </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  12. 12. <ul><li>The AMA managerial definition: </li></ul><ul><ul><li>“ Marketing is 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.” </li></ul></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  13. 13. <ul><li>Marketing Involves having the Right Product available in the Right Place at the Right Time and making sure that the customer is Aware of the Product . </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  14. 15. Product Price Place Promotion Customers Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  15. 16. Simple Marketing System Producer/Seller Consumer Communication Product/Service Money Feedback Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  16. 17. <ul><li>Product </li></ul><ul><li>Price </li></ul><ul><li>Place </li></ul><ul><li>Promotion </li></ul>Marketing’s 4 P’s Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  17. 18. <ul><li>People </li></ul><ul><li>Product </li></ul><ul><li>Price </li></ul><ul><li>Place </li></ul><ul><li>Promotion </li></ul><ul><li>Profits </li></ul>Marketing’s 4 P’s (+2) Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  18. 19. Marketing <ul><ul><li>It assumes that it will proceed in accordance with ethical practices. </li></ul></ul><ul><ul><li>Identifies the 4 marketing variables - product, price, promotion, and distribution. </li></ul></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  19. 20. <ul><ul><li>States that the public, the customer, and the client determine the marketing program. </li></ul></ul><ul><ul><li>Emphasizes creating and maintaining relationships. </li></ul></ul><ul><ul><li>Finally applies for both non-profit organizations and profit-oriented businesses. </li></ul></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  20. 21. Marketing Includes... <ul><li>Personal selling </li></ul><ul><li>Advertising </li></ul><ul><li>Making products available in stores </li></ul><ul><li>Maintaining inventories </li></ul><ul><li>etc </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  21. 22. What Can Be Marketed? <ul><li>Goods </li></ul><ul><li>Services </li></ul><ul><li>Experiences </li></ul><ul><li>Events </li></ul><ul><li>Persons </li></ul><ul><li>Places </li></ul><ul><li>Properties </li></ul><ul><li>Organizations </li></ul><ul><li>Information </li></ul><ul><li>Ideas </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  22. 23. How Does an Organization Create a Customer? Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  23. 24. <ul><li>Identifying customer needs </li></ul><ul><li>Designing goods and services that meet those needs </li></ul><ul><li>Communicating information about those goods and services to prospective buyers </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  24. 25. <ul><li>Making the goods or services available at times and places that meet customers’ needs </li></ul><ul><li>Pricing goods and services to reflect costs, competition, and customers’ ability to buy </li></ul><ul><li>Providing for the necessary service and follow-up to ensure customer satisfaction after the purchase </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  25. 26. How is Marketing Done? Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  26. 27. Marketers Develop and Implement a Marketing Plan Based on the Following Information: Organization’s Strengths and Weaknesses Organization’s Overall Objectives Opportunities and Threats to the Organization in the Marketplace Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  27. 28. Peter F. Drucker Said: <ul><li>If we want to know what a business is, we have to start with its purpose. And its purpose must lie outside the business itself. In fact, it must lie in society since a business enterprise is an organ of society. There is one valid definition of business purpose: to create a customer. </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  28. 29. Reasons for Studying Marketing Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  29. 30. Costs About 50% of total product costs are marketing costs Contributions to Individual Organizations Critical to the success of a firm Careers About 25 to 33% of the work force hold marketing positions. Contributions to Society Marketing decisions affect the lives of individual consumers and society as a whole Why Study Marketing ? Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  30. 31. Why Study Marketing? <ul><li>Plays an important role in society </li></ul><ul><li>Vital to business </li></ul><ul><li>Offers outstanding career opportunities </li></ul><ul><li>Affects your life every day </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  31. 32. Marketing is Everywhere in Your Life Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  32. 33. What do Marketers Think About? Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  33. 34. <ul><li>Ex: Open a Book shop On Campus </li></ul><ul><li>Is there a need? </li></ul><ul><li>Who is my target market? </li></ul><ul><li>What is my product? </li></ul><ul><li>How can I produce and deliver a “product” better than my competitors? </li></ul><ul><li>How will I promote my product? </li></ul><ul><li>How can I insure customer loyalty? </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  34. 35. Marketing is.... <ul><li>getting the right products to the right people at the right price and at the right place and time with the right promotion </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  35. 36. Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others. Kotler 1994 Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  36. 37. <ul><li>Process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  37. 38. <ul><li>More simply: </li></ul><ul><li>Marketing is the delivery of customer satisfaction at a profit . </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  38. 39. Simple Questions, Hard Answers <ul><li>Who are our customers? </li></ul><ul><li>What important & unique benefits do we provide? </li></ul><ul><li>Are these benefits sustainable? </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  39. 40. Let’s stop it here Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  40. 41. <ul><li>Readings </li></ul><ul><li>Lectures </li></ul><ul><li>Assignments </li></ul><ul><li>Project </li></ul><ul><li>Exam </li></ul>COURSE STRUCTURE Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  41. 42. Recommended Books <ul><li>Principles of Marketing by Philip Kotler and Gary Armstrong </li></ul><ul><li>Fundamentals of Marketing by Stanton, Etzel and Walker </li></ul><ul><li>Marketing by Joel R. Evans and Barry Berman </li></ul>Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  42. 43. Summary Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)
  43. 44. Simple Marketing System Producer/Seller Consumer Communication Product/Service Money Feedback Jan 5, 2010 Waqas Ahmad Khan (waqas@hazara.edu.pk)

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