SESSION #4

Business
Understanding

Makarand Kaprekar
Integrated MBA E & FB Class 20-21
 Role of Marketing in
adding scale to
business
Having a good product/service is not enough, if no
one or not enough people know about it
WHAT IS MARKETING?
Seth Godin - This is Marketing

Marketing seeks more. More market

share,more customers, more work

Marketing simply explained is

communicating about your product service
to your customers
P's
 PEOPLE
PROMOTION
PRICE
PLACE
PRODUCT
 FUNDAMENTAL
The right product,
in the right place,
at the right
price,
with the right message,
delivered by the right team.
 PRODUCT
Improve existing products and/or introduce
new products with features & benefits that
really matter
 PLACE

The distribution channels that can be used to

reach maximum people using the least cost to
sell at a profit
 PRICE

Identifying the right price that customers are

willing to pay
 PROMOTION

Try various approaches without getting hung up

Surprise customers with your approach
 PEOPLE

Everyone is part of the marketing team

Business to Business
Relationship yet Strategic
Industry Capacity & Capability
Fear Amazon