Marketing

Simplest definition: marketing

is managing profitable
customer relationships

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 A Simple Model of the
Marketing Process

Understand the Design a Construct an Build profitable

marketplace and customer driven integrated relationships and
customer needs marketing marketing create customer
and wants strategy program that delight
delivers superior
value

Capture value

value from
customers
in return

Capture
from customers
to create profits
and customer
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 Core Marketing Concepts
Needs,
Wants & Market offerings (products,
Demands services & experiences)

Core
Marketing Value,
Markets Concepts Satisfaction
& Quality

Exchange,
Transactions &
Relationships

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 Core Marketing Concepts
 NEEDS, WANTS & DEMANDS
 PRODUCT, OFFERING & BRAND

 VALUE & SATISFACTION

 EXCHANGE & TRANSACTIONS

 SEGMENTATION,TARGET MARKETS
AND POSITIONING
 MARKET PLACE, MARKET SPACE, &
META MARKET
 MARKETERS & PROSPECTS
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 RELATIONSHIPS & NETWORKS
 MARKETING CHANNELS
 SUPPLY CHAIN
 COMPETITION
 MARKETING ENVIRONMENT
 MARKETING PROGRAM/ PLANNING

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 Needs
 Physical

 Social

 Individual
Back

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 Demands
 Negative Demand
 No Demand
 Latent Demand
 Declining Demand
 Irregular Demand
 Full Demand
 Overfull Demand
 Unwholesome Demand
 Back

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 Market Offerings
 Some combination of products,
services, information, or experiences
offered to a market to satisfy a need or
want.

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 What is Marketed
 Goods
 Services
 Events
 Experiences
 Persons
 Places
 Properties
 Organizations
 Information
 Ideas
 Back

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 Customer Value Triad
 Value= Quality, Service and Price
(QSP)
 Value increases as Q and S increases
 Value decreases as P increases
 Value Proposition- cluster of benefits the
company promises to deliver
 Value Delivery System – all the experiences
the customer will have on the way to obtaining and using
the offering
 Customer Perceived Value
 CPV=Total Customer – Total Customer
Value Cost

Product Services Personnel Image

TCV= Value Value Value Value

Monetary Time Energy Psychic

TCC= Cost Cost Cost Cost
Customer Satisfaction

 Dissatisfaction

 Satisfaction

 Delight

 Back
 Marketing Channels
 Communication channels- deliver and receive
messages from target buyers

 Distribution channels- to display, sell or deliver the

physical product or service to the buyer or user

 Service channels- facilitate in carrying out the

transaction with potential buyers – warehouses,
transportation, banks, insurance etc.

Back
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 Competition
 Brand- considers all products of other companies that offer a
similar product, at a similar price to the same target market, as
competitors.

 Industry- consider all products in the industry as competitors.

 Form - Here, the product is not in focus but the need of the
customer is focused on. Any product or service provider that
targets the same need and is in the same industry is viewed as
competitor to the business.

 Generic - The most exhaustive way of focusing competition is to

consider every other product or service as competitor, which
aims at the consumer’s buying power.

Back
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 Marketing Planning
 Analyzing marketing opportunities
 Selecting target markets
 Designing marketing strategies
 Developing marketing programs
 Managing the marketing effort

Back
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 Marketing Program
 Marketing Mix
Four P’s Four C’s
McCarthy Lauterborn
Product Customer solution
Price Customer cost
Place Convenience
Promotion Communication
Back
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 A Simple Marketing
System
Communication

Industry Products/ Services Market

( a collection of ( a collection of
sellers) buyers)
Money

Information

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 Modern Marketing System
S
COMPANY
U
(MARKETER)
P
P
Manufacturer MARKETING END USER /
L
Markets INTERMEDIARIES CONSUMER
Resource MARKET
Markets
I
COMPETITORS
E
R ENVIRONMENT
S

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 Marketing Orientations
Production Concept
The Product Concept Marketing
Myopia
The Selling Concept
The Marketing Concept
The Customer Concept
The Societal Marketing Concept
The Holistic Marketing Concept
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 The Selling Concept vs. The Marketing Concept
Make and Sell
Starting point Focus Means Ends

Factory Products Selling & profits

Promoting through
sales volume

The Selling Concept

Sense and Respond

Target Customer Integrated profits through

Market Needs Marketing Customer
Satisfaction

The Marketing Concept

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 Reactive Market Orientation

 Proactive Market Orientation

 Total Market Orientation

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 The Customer Concept
Starting point Focus Means Ends

Individual Customer One- to- one Profitable

needs & marketing growth
customer integration
values through
and value
capturing
chain
customer
share, loyalty,
and lifetime
value

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 The Societal Marketing
Concept
Society (Human Welfare)

Societal
marketing
concept

Consumers (want satisfaction) Company (Profits)

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 Holistic Marketing
Products &
Marketing Senior Communications
Other Services Channels
Department Management
Departments

Internal Integrated
Marketing Marketing

Holistic
Marketing

Socially Relationship
Responsible Marketing
Marketing

Ethics Environment Legal Community Customers Channel Partners

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