Marketing Management

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 Marketing = ?
➢Marketing is the process of planning and executing the conception,
pricing, promotion, and distribution of ideas, goods, services to
create exchanges that satisfy individual and organizational goals.
American Marketing Association
➢Marketing management is the art and science of choosing target
markets and getting, keeping, and growing customers through
creating, delivering, and communicating superior customer value.
➢Marketing is “the science and art of exploring, creating, and
delivering value to satisfy the needs of a target market at a
profit”.

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Core ingredients of various definitions indicate the key
functions and activities of marketing

• Customer is the center of all Marketing activities.

• Marketing focuses on the needs and wants of customers.
• Identifying favorable emerging market opportunities
• It is concerned about satisfying customers through supply of
goods and services
• Marketing involves analysis planning and control
• Marketing is concerned about staying ahead with competition
and making profits
• Marketing has a heavy emphasis on relationships
• Creating value to both the customer and organization

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 Core Concepts of Marketing
Based on :
➔ Needs, Wants, Desires / demand
➔ Products, Utility, Value & Satisfaction
➔ Exchange, Transactions &
Relationships
➔ Markets, Marketing & Marketers.

Needs, wants Utility, Value &

Products
demands Satisfaction

Marketing & Exchange, Transaction

Markets
Marketers Relationships 4
 Core Concepts of Marketing

➔ Need – food ( is a must )

➔ Want – Pizza, Burger, French fry's ( translation of a need as per
our experience )
➔ Demand – Burger ( translation of a want as per our willingness
and ability to buy )
➔ Desire – Have a Burger in a five star hotel

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 Marketing
➔Marketing is all about managing the four P’s –
➔product
➔price
➔place
➔promotion

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Difference Between - Sales &
Marketing ?
• trying to get the customer to
Sales want what the company
produces

• trying to get the company

Marketing produce what the customer
wants

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 Difference between Traditional and
Modern Concepts of Marketing
Traditional Concept Modern Concept

1. Focus is on product only 1. Focus is on customers’ needs

and wants
2. Objective is profit 2. Objective is customer
maximisation satisfaction and customer
delight
3. Short-term oriented 3. Long term oriented
4. Less promotional activities 4. Sustained promotional
activities
5. Narrow concept 5. Broader concept
The Scope of Marketing
1. What is Marketing?
2. What is Marketed?
3. Who Markets?

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 Scope – 2. What is marketed?
➔ Goods- khaitan fan
➔ Services -Samsung service
➔ Events – sony / dlf ipl-
➔ Experiences – https://www.youtube.com/watch?v=VB53kVWqgS0
➔ Personalities - https://www.youtube.com/watch?v=K9vFWA1rnWc
➔ Place - https://www.youtube.com/watch?v=ofv9kZ_zW-8
➔ Organizations - https://www.youtube.com/watch?v=E1xkXZs0cAQ
➔ Properties -https://www.youtube.com/watch?v=h7Q77ch57C4
➔ Information -https://www.youtube.com/watch?v=YfkYox2E4kw
➔ Ideas and concepts -
https://www.youtube.com/watch?v=00g8U5MYX68
➔ https://www.youtube.com/watch?v=https://www.youtube.com/watc
h?v=IBPUMfhQ8wMmNUMuG13B7Q

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 Scope – 3. Who markets?
1. Marketers and Prospects
2. Markets
3. Key Customer Markets
1) Consumer Markets
2) Business Markets
3) Global Markets
4) Nonprofit and Governmental Markets

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The Marketing Process

Business
Mission
Statement

Objectives

Situation
or SWOT
Analysis

Marketing Strategy
Target Market
Strategy

Marketing Mix
Product Place/Distribution

Promotion Price

Implementation
Evaluation, Control
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 The Marketing Mix
The conventional view of the marketing mix
consisted of four components (4 Ps): Product,
Price, Place/ distribution and Promotion.
Generally acknowledged that this is too narrow today;
now includes , Processes, Productivity [technology
]People [employees], Physical evidence
Marketers today are focused on virtually all aspects of
the firm’s operations that have the potential to
affect the relationship with customers.

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4 P Components of Marketing Mix
Service Marketing Mix
Modern
Marketing
Management P’s
• People
• Processes
•Physical Evidence
• Programs (eg
customer directed
activities)
• Performance
(financial &
nonfinancial
7 P’s outcomes) 14
 The 4 Ps & 4Cs

Marketing Convenience
Mix

Place
Product

Customer
Solution Price Promotion

Customer Communication
Cost
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 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.
Marketing concepts or marketing management philosophies are the
philosophies used by the businesses to guide their marketing efforts.
Marketing Philosophies/Concepts
There are six marketing concepts. A company
should choose the right one according to their
and their customers’ needs.
1. Production Concept
2. Product Concept Traditional Concepts
3. Selling Concept
4. Marketing Concept
5. Social Marketing Concept& Modern Concepts
6. Holistic Marketing Concept

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 Production Concept
• “ Consumers will prefer products that are
widely available and inexpensive”
• - Concentrates on – high production efficiency
low cost- mass distribution
• Example :
– Govt Hospital and Chinese Products
• Heavy focus on the Price and Place on
Marketing Mix

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Why do you prefer products of

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 Product Concept

• “ Consumers will favor those products that offer

most quality, performance or innovative features”
• Just making superior products will make
customers seek and buy them
• More focus on “Product” in the Marketing Mix.
• Successful marketing requires continuous product
planning and development and improvement in
quality standards.

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 Selling Concept
• “If consumers are left along, will ordinarily not
buy enough of the organisation’s products.
Therefore the organisations must undertake
aggressive selling and promotional effort”
• Consumers have buying inertia and have to be
persuaded
• Practiced more on unsoughted goods
• Sell what is made or available rather than what
consumer wants.
• Heavy focus on Promotion on the M.Mix

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 Lal Koti Subji Mandi
• Maal Badiya Dham Ghatiya

• 20 Ka Do Kilo

• Khake dekho – Leke Jao

• Maal khali – Sabne Leli

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 Marketing Concept
• “Key to achieving organisational goals consists in
determining the needs and wants of target market and
delivering the desired satisfaction more effectively than
competitors”.
• The primary task of a business firm is to study the
needs, desires and the preferences of the potential
consumers and produce goods which are actually
needed by the consumers.
• Focus on all Ps of the Marketing mix.
• To apply marketing concept three conditions should be
met: Customer orientation, Integrated efforts, and goal
achievement

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Key Components of Marketing Concept

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Holistic Marketing Concept: Holistic marketing concept is a new marketing
concept. Holistic marketing recognizes that “everything matters” with
marketing- and that a broad, integrated perspective is often necessary.
There are four components of holistic marketing concept. They are:
• Relationship marketing
• Integrated marketing
• Internal marketing
• Social responsibility marketing
 Marketing Oriented Approach:
Advantages
If an organisation can adopt a marketing oriented
approach it would be able to get
• Increased customer satisfaction
• Increased customer loyalty
• Increased reputation
• Increased motivation among staff
• Increased market share
• Reduction of waste
• Combat threats from competitors
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 Difficulties in Developing the
Marketing Orientation
• The main problem is with the differences of emphasis
of other branches of the organisation. Engineering,
production, Finance, R&D, HR etc.
• Lack of committed leadership and vision
• Failure of managers to understand the true concept
• Inability to adapt to change
• Difference in attitudes/culture
• Autocratic leadership
• Lack of customer knowledge
• Lack of infrastructure- required technology

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