Unit – 1

Introduction
Presented By –
Ms. Isha Setia
Assistant Professor
TIPS
 Importance of Marketing
• Role of Marketing in a Firm
✓Marketing is the Heart beat of the Business Organization
✓Creation of Place, Time and Possession Utilities

• Role of Marketing in the Economy

➢Determining Needs of Customers
➢Improves the standards of Living
➢Employment Generation
 Marketing
Functions
(Scope)

Functions of Functions of Facilitating

Exchange Physical Supply Functions

• Buying and • Transportation • Marketing Research

Assembling • Storage or • Product Planning and Development
• Selling Warehousing • Standardization and Grading
• Packaging
• Branding
• Pricing
• Promotion
(Marketing Concepts)
Significance of Marketing Concept
• Easy Acceptance of the Product
• Integrated Approach
• Responsive to changes in Environment
• Strategic Value
 Difference B/w
Different Concepts
of Marketing
 Strategies to Deal with Marketing
Environment
• Anticipating and Adapting
• Buffering and Smoothing
• Competitive Advertising
• Domain Shift
• Technological Upgradation
• Mergers and Acquisitions
 Market Segmentation Approaches
• Beneficial
• Geographical
• Demographic
• Psychographic
• Behavioural
Criteria for effective Market Segmentation
• Measurable and • Unique or Distinguishable or
Obtainable Differentiable
• Relevant • Appropriate
• Stable
• Accessible • Congruous
• Substantial • Actionable or Feasible
• Valid • Other General Considerations
 Process of Choosing a Target Market
• Type of Product / Service
• Narrow Down its Niche
• Solve Target Market’s Problem with one’s Product or Service
• Affordability
• Type of Media
• Analyse Competitors
 Target Market Strategies
• Single – Segment Strategy
• Selective Specialisation
• Product Specialisation
• Market Specialisation
• Full Market Coverage
 Approaches of Positioning
• Customer Benefits Approach
• The Price – Quality Approach
• The use or Application Approach
• The Product User Approach
• The Product Class Approach
• The Cultural Symbol Approach
• The Competitor Approach