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Unit - I

Introduction to Marketing Management – Concept, Nature & Scope
Arun Mishra
Asst. Professor VNS Business School (M) 9893686820 Email: arunjimishra@gmail.com

offering and freely exchanging products and services of value of others. set of institutions and processes for creating. communicating. delivering and exchanging offerings that have value for customers.” AMA • Social Definition: “Marketing is a societal process by which individuals & groups obtain what they need and want through creating. • “Marketing is the activity. partners & society at large.” .What Is Marketing? • Marketing is about identifying & meeting human & social needs. clients.

Marketing Management is the art and science of choosing target markets and getting.What Is Marketing? • Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return • Thus. keeping and growing customers through creating. delivering and communicating superior customer value. .

lawyers. hotels. Events: Time-based events such as trade shows. artistic performance. World Cup etc. global sporting events like Olympics. . CEOs. residents. • Services: include the work of airlines. Nations are marketed to attract tourists. television cosmetics. factories & Companies etc. States. Physicians and other professionals all get help from celebrity marketers. musicians. Regions. • • • • doctors etc. Places: Cities. watches etc. Persons: Artists.Scope of Marketing: What can be Marketed? • Goods: Physical goods like car. Experiences: Such as amusement park or a water park.

Banks and investment companies market these. health. • Ideas: That lead to responsible action and influence attitude and behaviour such as creating HIV/AIDS awareness. • Information: News Papers. Books. Universities are marketed at a price to parents. • Organisations: Many organisations undertake socially useful initiative such as.Scope of Marketing: What can be Marketed? • Properties: are intangible rights of ownership to either real property or financial property. education etc. as part of their corporate social responsibility. Schools. . students and communities. Real estate agents.

warmth. and Demands Needs Wants Demands • States of deprivation • Physical—food. clothing.Understanding the Marketplace and Customer Needs Customer Needs. safety • Social—belonging and affection • Individual—knowledge and self-expression • Form that needs take as they are shaped by culture and individual personality • Wants backed by buying power . Wants.

Understanding the Marketplace and Customer Needs • Market offerings are some combination of products. services. information. or experiences offered to a market to satisfy a need or want • Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs • Exchange is the act of obtaining a desired object from someone by offering something in return • Markets are the set of actual and potential buyers of a product .

Marketing Management Orientations Production concept Product concept Selling concept Marketing concept Societal concept .

. and features. Organization should therefore devote its energy to making continuous product improvements.Marketing Management Orientations • Production concept is the idea that consumers will favor products that are available or highly affordable • Product concept is the idea that consumers will favor products that offer the most quality. performance.

Marketing Management Orientations • Selling concept is the idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort • Marketing concept is the idea that achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors do. .

Marketing Management Orientations • Societal marketing concept is the idea that a company should make good marketing decisions by considering consumers’ wants. the company’s requirements. consumers’ long-term interests. and society’s longrun interests .

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