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Marketing Management Full Notes @ Mba

Marketing Management Full Notes @ Mba

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Marketing Management Full Notes @ Mba
Marketing Management Full Notes @ Mba

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Published by: Babasab Patil (Venunath) on Feb 17, 2012
Copyright:Attribution Non-commercial

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02/25/2014

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MARKETING MANAGEMENTTopicTitle
1.Marketing Concepts2.Approaches to the Study of Marketing3.Market Segmentation4.Marketing Environment5.Consumer Purchase Process6.Consumer Behaviou7.Marketing Information System and Marketing Research8. Product Mix9. New Product Planning and Development10.Product – Market Integration Strategies11.Branding and Packaging Decisions12.Pricing Decisions13. Channel Decisions14. Advertising15.Sale Promotion16.Personal Selling
 
LESSON - 1MARKETING CONCEPTSLearning Objectives
After reading this lesson, you should be able to understand -
Meaning and importance of marketing;
The different concept of marketing;
The modern marketing concept.
The social marketing concept.Marketing has been deferent by different authors differently. A popular definitionis that “marketing is the performance of business activities that direct the flow of goodsand services from producer to consumer or user”. Another notable definition is that“marketing is getting the right goods and services to the right people at the right place atthe right time at the right price with the right communication and promotion”. Yetanother definition is that ‘marketing is a social process by which individuals and groupsobtain what they need and want through creating and exchanging products and valueswith others’. This definition of marketing rests on the following concepts:(i)Needs, wants and demands;(ii)Products;(iii)Value and satisfaction;(iv)Exchange
 
(v)Markets.
NEEDS, WANTS AND DEMANDS
A human need is a state of felt deprivation of some basic satisfaction. Peoplerequire foods, clothing, shelter, safety, belonging, esteem etc. these needs exist in thevery nature of human beings.Human wants are desires for specific satisfiers of these needs. For example, clothis a needs but Raymonds suiting may be want. While people’s needs are few, their wantsare many.Demands are wants for specific products that are backed up by an ability andwillingness to buy them. Wants become demands when backed up by purchasing power 
.Products
Products are defined as anything that can be offered to some one to satisfy a needor want.
Value and Satisfaction
Consumers choose among the products, a particular product that give themmaximum value and satisfaction.Value is the consumer’s estimate of the product’s capacity to satisfy their requirements.
Exchange and Transactions
Exchange is the act of obtaining a desired product from someone by offeringsomething in return. A transaction involves at least two thing of value, conditions that are

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