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    This document discusses key marketing concepts and the marketing process. It defines marketing as managing the process of identifying, anticipating, and meeting customer needs profitably. The marketing concept holds that organizations should determine customer needs and satisfy them better than competitors. The document contrasts the marketing concept with the selling concept, noting that marketing focuses on customer needs while selling prioritizes the seller's needs. It also outlines different orientations companies can take to the marketplace, from production-focused to societally-focused. Finally, it discusses the marketing process of analyzing opportunities, selecting target markets, and implementing marketing strategies and programs.

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    Intro

    Uploaded by

    vishesh_2211_1257207
    34 views27 pages
    This document discusses key marketing concepts and the marketing process. It defines marketing as managing the process of identifying, anticipating, and meeting customer needs profitably. The marketing concept holds that organizations should determine customer needs and satisfy them better than competitors. The document contrasts the marketing concept with the selling concept, noting that marketing focuses on customer needs while selling prioritizes the seller's needs. It also outlines different orientations companies can take to the marketplace, from production-focused to societally-focused. Finally, it discusses the marketing process of analyzing opportunities, selecting target markets, and implementing marketing strategies and programs.

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    Marketing management Introduction

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    This document discusses key marketing concepts and the marketing process. It defines marketing as managing the process of identifying, anticipating, and meeting customer needs profitably. The marketing concept holds that organizations should determine customer needs and satisfy them better than competitors. The document contrasts the marketing concept with the selling concept, noting that marketing focuses on customer needs while selling prioritizes the seller's needs. It also outlines different orientations companies can take to the marketplace, from production-focused to societally-focused. Finally, it discusses the marketing process of analyzing opportunities, selecting target markets, and implementing marketing strategies and programs.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    34 views27 pages

    Intro

    Uploaded by

    vishesh_2211_1257207
    This document discusses key marketing concepts and the marketing process. It defines marketing as managing the process of identifying, anticipating, and meeting customer needs profitably. The marketing concept holds that organizations should determine customer needs and satisfy them better than competitors. The document contrasts the marketing concept with the selling concept, noting that marketing focuses on customer needs while selling prioritizes the seller's needs. It also outlines different orientations companies can take to the marketplace, from production-focused to societally-focused. Finally, it discusses the marketing process of analyzing opportunities, selecting target markets, and implementing marketing strategies and programs.

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    SHIKHA SHARMA

    There will always be need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available. Peter Drucker

    Marketing Concepts and Tools


    Market: a collection of buyers and sellers Marketplace: a physical market (store)

    Marketspace: a digital market (Internet)


    Metamarket: markets involving closely-

    related products and services. Marketer and Prospect: A marketer is someone seeking a response from another party, called the prospect.

    A Simple Marketing System

    Understanding the Marketplace and Customer Needs


    Customer Needs, Wants, and Demands
    States of deprivation Physicalfood, clothing, warmth, safety Socialbelonging and affection Individualknowledge and selfexpression

    Needs Wants Demands

    Form that needs take as they are shaped by culture and individual personality

    Wants backed by buying power

    Marketing Concepts and Tools


    Needs: the basic human requirements Wants: specific objects that might satisfy the need Demand: wants for specific products backed by an ability to pay. Examples: - An American needs food but wants a hamburger, French fries and soft drink. - Many people want a Mercedes, only a few are able and willing to buy one.

    Marketing Debate

    Does Marketers Create or Satisfy Needs?

    MARKETING DEFINED
    "The management process which

    identifies,

    anticipates and supplies customer requirements efficiently and profitably" - Chartered Institute of Marketing (Focus is on customers. Profits result from meeting customers needs effectively and efficiently)

    MARKETING DEFINED contd.


    A social

    and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. - Philip Kotler and Gary Armstrong products are matched with markets and through which transfers of ownership are affected. -Cundiff and Still

    Marketing is the business process by which

    MARKETING DEFINED contd


    Marketing is the total system of business activities

    designed to plan, promote and distribute want satisfying products and services to present and potential customers. -Stanton

    Marketing Management
    Marketing Management (Kotler):

    is the analysis, planning, implementation, and control of marketing programs designed to create, build, and maintain mutually beneficial exchanges and relationships with target markets for the purpose of achieving organizational objectives.

    Mktg Diagrammatically substantiated


    Origin Means
    FIRMS TASK TO IDENTIFY THESE NEEDS &TRANSLATE THEM INTO UTILITY

    End

    CUSTOMERS NEEDS,DESIRES, DEMANDS

    PRODUCTS &
    SERVICES

    EARNING PROFITS THROUGH CUSTOMER SATISFACTION

    Scope of mktg
    It is an umbrella term that spreads itself to cover a

    whole set of numerous functions/ activities. ACTIVITIES/FUNCTIONS

    Exchange
    Buying, assembling &selling

    Physical supply
    Transportation, Storage/warehousing

    Facilitating
    Market Research , Branding

    Communication
    Advertising, Promotion, Information, CRM, Publicity,etc

    Designing a Customer-Driven Marketing Strategy


    Marketing Management Orientations

    Production concept

    Product concept

    Selling concept

    Marketing concept

    Societal concept

    Company Orientations to the Marketplace (Marketing Management Philosophies)


    1. Production concept: assumes consumers

    favor those products that are widely available and affordable. (Focus: wide distribution; high volume).

    2. Product concept: assumes consumers will favor those products that offer the most quality, performance, and features. (Focus: Superior product)

    Company Orientations to the Marketplace, cont.

    3. Selling concept: assumes that consumers will

    either buy or not enough of the organizations products unless the organization makes a substantial effort to stimulate the customers interest in the product. (Focus: needs of the seller)

    The purpose of marketing is to sell more stuff to more people more often for more money in order to make more profit
    Coca-Colas former Vice president

    Company Orientations to the Marketplace, cont.


    4.

    Marketing concept: holds that the key to achieving organizational goals consists in determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors. (Focus: different needs of buyers)

    Marketing and Selling Concepts Contrasted


    Starting Point
    Factory

    Focus
    Products

    Means
    Selling and Promoting

    Example Ends
    e.g., Profits through Volume

    (a) The Selling Concept

    Market

    Customer Needs

    Integrated Marketing

    e.g., Profits through Satisfaction

    (b) The Marketing Concept

    What is the difference between marketing

    and selling?

    The difference between marketing and

    selling is more than semantic. Selling focuses on the needs of the seller, marketing on the needs of the buyer. Selling is preoccupied with the sellers need to convert the product into cash; marketing with the idea of satisfying the need of the customer .

    Company Orientations to the Marketplace, cont.

    6. The

    societal marketing concept: to determine the needs, wants, and interests of target markets and to deliver the desired satisfaction more effectively and efficiently than competitors in a way that preserves or enhances the consumers and the societys well-being.

    CUSTOMER SATISFACTION AND VALUE


    CUSTOMER SATISFACTION: The extent to which a

    customers expectations of product quality, service quality, and price are met.
    VALUE: Customer perceived value is the difference

    between the customers evaluation of all the benefits and all the costs of an offering.

    Some examples
    Standard chartereds global credit card which can be

    used across the globe vis-a- vis other banks country specific cards.
    Godrej has created an inbuilt curd maker in its 400-lts

    refrigerators- the customer is getting value addition at no substantial extra cost.

    It is no longer enough to satisfy customers. You must delight them.

    MARKETING PROCESS
    Analyzing market opportunities
    Researching and selecting target markets Designing marketing strategies

    Planning marketing programs


    Organizing, implementing and controlling

    the marketing efforts. (Detail explanation in another ppt)

    Factors affecting marketing process

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