MARKETING MANAGEMENT

Chapter 1
INTRODUCTION TO
MARKETING
 Few Basics

 Why do Organizations exist?

 What do we mean by markets?
 What is the need of marketing?
 How marketing started?
 Definition of Marketing

 “Marketing is a societal process by which individuals and

groups obtain what they need and want through creating,
offering, and freely exchanging products and services of value
with others.” (Philip Kotler)
 “Marketing is the performance of business activities that
directs the flow of goods and services from producer to
customer or user.” (American Mgt Association)
Core Marketing Concepts
 Marketing Offers

Tangibles Non-tangibles Others

Non-durables Services Persons, Ideas

Durables Activities Places, Events
Organisations
Information
Experiences
Maslow’s Hierarchy of Needs
Elements of a Modern
Marketing System
 Marketing Orientations or Concepts

1. The Production Concept

2. The Product Concept
3. The Selling Concept
4. The Marketing Concept
5. The Customer Concept
6. The Societal Marketing Concept
Model T – Best Example for
‘Production Concept’
Societal Marketing Concept
The Marketing Process
The Marketing Mix Variables
 The Marketing Mix & SIVA
 The Marketing Mix (or the 4Ps) – the marketer’s view
 • Product: What is our offering?
 • Price: What will be the price and payment terms?
 • Promotion: How do we communicate the offering?
 • Place: Where do we sell our offering from?

 SIVA (or the 4Cs) – the customer’s view

 • Solution: How can I solve my problem? (Customer wants)
 • Information: Where Can I learn about this? (Communication)
 • Value: What is my total sacrifice to get this solution? (Cost)
 • Access: Where can I find it? (Convenience)