Chapter – 1

Introduction Of Marketing Management

1) Market Places: Market of physical goods and product is called market Places.
2) Market space: The online space with website such as amazon, filipkart are known as
market space.
3) Marketing Utility:
▪ There are 4kind of marketing utility
▪ Form
▪ Time
▪ Place
▪ Ownership utility

Marketing function create time utility, place & ownership utility.

Form utility is conversion of raw material and component input into finished goods and
services.

4) Importance of Marketing

(A) To the society

1. Instrumental in improving the living standard.
2. Create employment.
3. Help in stabilization in economic condition.
(B) To the firm
1. Helps sustain the company by bringing the profit.
2. The source of new idea.
3. Provided direction for the future.
(C) To the consumers
1. Helps to meet the wants.
2. Reduced the price of goods and services.

5) Product effecting: People satisfying there need and wants with product .A product is
affecting that can satisfied there need and wants.
6) Marketing: It is a social process by which individual and group are obtain what they need
and want through creating effecting and freely exchanging goods and services of value
with others.
7) Marketing management: It is the process of choosing market and getting, keeping &
growing consumers through delivering and communicating process.
8) Marketing myopia: It is short sight and inward looking approach to marketing which
focused on fulfilment of immediate need of company rather than focusing on marketing
from consumers point of view.
9) Marketing concepts
a) The exchange concept:
It holds that the exchange of product between buyer and sellers it is central idea of
marketing.
b) The production concept:
It is based on consumers primary wants at affordable price. This approach believes they can
increase the supply by decrease the cost.
c) The product concepts:
It focuses on the concept that the costumer looks for the quality product. It is assumed that
consumers will stay loyal if they receive new and innovative product.
d) The selling concept:
Introduces that companies are sales oriented. It highlights that customers would buy a
company’s products only if the company were to sell these products aggressively.
e) The marketing concept:
A business oriented concept aims to understand the needs and wants of a customer and
executes the marketing strategy according to the market research.
f) The Societal concept:
it is based on the approach that customer satisfaction should be done in a way that preserves
and enhances the customer’s and society well-being.
i. Market Analysis:
It is Identifying opportunities by analyzing and scanning external environment and collecting
market related information to estimate current market demand and forecast future potential.
ii. Market Segmentation:
It implies dividing a market to identify a homogenous group of customers who would
respond positively to firm’s marketing efforts.
iii. Market Planning:
It is Making Marketing strategies. It includes dividing a name for the product and its pricing.
iv. Marketing Control:
It implies to evaluate and compare the effects with the standards set in the firm.
v. Marketing Mix:
It is a set of Marketing goals that the firm uses to pursue its marketing objectives in the
target market.
James Culliton : Coined the name Marketing Mix
Jerome Mecarthy : Described Marketing Mix in terms of four P’s
Niel H. Breden : Popularized the concept of Marketing Mix
The four P’s of Marketing are :-
1. Product
2. Price
3. Place
4. Promotion

➢ Modern Marketing Mix:

Philip Kotler : Proposed border views of Marketing Mix and add 4 More P’s.
1. People:
a) Employees of the company
b) The customers
2. Process: It implies each and every process of Marketing should be done with
discipline
3. Programs: It reflects all the old P’s required to market a Product.
4. Performance: It is defined as analyzing and measuring the financial and non-financial
implications of the possible outcomes of an activity or decision.
 Chapter – 2

Marketing Strategy
Marketing Environment: It consists of faster and forces that affect the company’s ability to
develop and maintain successful transaction and relationship with customers.
Microenvironment: It is Company’s immediate environment the affect the ability of
marketers to secure their customers:-
1. Suppliers
2. Customers
3. Competitors
4. Marketing Intermediaries
Macroenvironment: They are generally, mere uncontrollable. that the micro forces It
includes:-
1. Economic Environment
2. Political Environment
3. Socio-Culture Environment
4. Demographic Environment
5. Nature Environment
6. Technical Environment
7. International Environment
Marketing theories:-
1. PESTELS ANALYSIS:-
It is a framework or tool used by marketers to analyze and monitor the macro
Environmental factors that impact an Organisation.
Its stands for:-
P: Political
E: Economic
S: Social
T: Technological
E: Environmental
L: Legal
2. Porter’s five forces
Developed by Michael E. Porter
It is a Goal to assure the lever of competitive intensity of the firm within the industry.
It is done to determine the alternatives (i.e. profitability) of that industry.
I. Potential Entrants: It refers to addition of new competitors.
II. Bargaining Power of suppliers: A suppliers or producers id the one who
produces the products designed by the market.
III. Bargaining Power of the Buyer: If the buyer has many choices of products and
companies then their power is high.
IV. Industry Competitors: The company competing with others companies within
the same market known as industrial Competitors.
V. Threat of Substitutes: The availability of a substitution threat affects the
profitability of an industry.