Introduction to

Marketing Management

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 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 providing the right product, in

the right place, at the right time, at the
right price to the right customer.

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 Goods  Places
 Services  Properties

 Experiences  Organizations

 Events  Information

 Persons  Ideas

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 Negative demand:
◦ Consumers dislike the product, may pay to avoid it
 Nonexistent demand
◦ Being unaware/ uninterested in products
 Latent demand
◦ Strong need not being satisfied by existing products
 Declining demand
◦ Begin to buy products less frequently
 Irregular demand
◦ Purchase vary on seasonal basis
 Full demand
◦ All products in market place are bought
 Overfull demand
◦ More demand than what could be satisfied
 Unwholesome demand
◦ Demanding products having undesirable social consequences

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 Consumer Markets  Business Markets

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 Needs describe basic human requirements such
as food, air, water, clothing, shelter, recreation,
education, and entertainment.
 Needs become wants when they are directed to
specific objects that might satisfy the need.

Demands are wants for specific products backed

by an ability to pay.
 A Product/Service is any offering that can
satisfy a need or want, while a brand is a
specific offering from a known source.

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 Stated Need

Real Need

Unstated Need

Delight Need

Secret Need

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 Segmentation, Targeting & Positioning
 Value Proposition
 Marketing channels
◦ Communication
◦ Distribution
◦ Service
 Paid, Owned and Earned Media
 Impressions and Engagement
 Value and satisfaction
 Supply chain
 Competition
 Marketing environment
 Task (Micro) Environment
 Broad (Macro) Environment

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 Marketing Balance
◦ Balance between traditional and new media for
marketing communications
 Marketing Accountability
◦ Justify spending
◦ Usage of marketing metrics – Customer lifetime
value (CLV), Brand equity, ROMI etc.
 Marketing in the Organization
◦ All departments to have marketing focus

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Production Concept

Product Concept

Selling Concept

Marketing Concept
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 People

Processes

Programs

Performance
 Developing marketing strategies and plans
 Capturing Marketing Insights
 Connecting with Customers
 Building Strong Brands
 Creating value
 Communicating value
 Delivering value
 Conducting marketing responsibly for long
term success