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Kotler on Marketing

The future is not ahead of us. It has us. already happened. happened. Unfortunately, it is unequally distributed among companies, industries and nations. nations.

MARKET 


Where the sellers and the buyers meet Is the set of actual and potential buyers of a product Marketing is a social and a managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others 

APPROACHES TO THE STUDY OF MARKETING 1. Factual / Descriptive Approach AMA defines marketing as the performance of business activities that direct the flow of goods and services from producer to consumer or user .

2. Product / Commodity Approach The focus is on the product or it is an approach on the marketing on Commodity wise basis. 3. Institutional Approach The focus is on the study of institutions (middle men) engaged in the marketing during the movement of goods .

storage. etc. pricing. standardisation.4. Legal Approach Marketing includes all activities to do with effective changes in ownership and possession of goods and services. selling. transportation.) 5. Functional Approach The focus is on the specialised services or functions (buying. .

7. Economic Approach Marketing is that part of economics which deals with the creation of time. place and possession utilities. Management Approach It concentrates upon the activities or marketing functions and focuses on the role of decision making .6.

9. Systems Approach Marketing is the total system of interacting business activities designed to plan. sociological). promote and distribute want satisfying product and services to present and potential customer.8. . price. legal. Societal Approach Marketing process is regarded as a means by which society meets its own consumption needs (cultural.

MARKETING MANAGEMENT AMA defines Marketing Management as the process of planning and executing the conception. goods and services to create exchanges that satisfy individual and orgnisational goals. . pricing. promotion and distribution of ideas.

12. RELATIONSHIP MARKETING MARKET CHANNELS SUPPLY CHAIN COMPETITION MARKET ENVIRONMENT MARKET PROGRAM ± DECISIONS ± MKT MIX . 10.1 MARKET 2 NEED 3 WANT 8 TRANSACTIONS CORE MARKETING CONCEPTS 7 5 PRODUCT 4 DEMAND EXCHANGE 6 VALUE AND SATISFAC 9. 14. 13. 11.

Marketing Concepts and Tools  Defining Marketing   Marketing Marketing management Target Markets and Segmentation  Core Marketing Concepts  .

Figure 1-1: A Simple Marketing System 1- .

Company Orientations Toward the Marketplace     Production Concept Product concept Selling Concept Marketing Concept .

Figure 1-7: Contrasts Between the Sales Concept and 1the Marketing Concept .

Company Orientations Toward the Marketplace Figure 1-10: The Customer Concept 1- .

Company Orientations Toward the Marketplace  Societal Marketing Concept  Cause-related marketing Cause- .

The New Economy      Substantial increase in buying power A greater variety of goods and services A greater amount of information about practically anything A greater ease in interacting and placing and receiving orders An ability to compare notes on products and services .

Companies can collect fuller and richer information about markets. customers. Companies can have 2-way 2communication with customers and prospects . prospects and competitors. Companies can facilitate and speed up communications among employees.The New Economy     Websites can provide companies with powerful new information and sales channels.

The New Economy     Companies can send ads. Companies can improve logistics and operations for cost savings while improving accuracy and service quality. samples. Companies can customize offerings and services to individual customers. . The Internet can be used as a communication channel for purchasing. information to targeted customers. and recruiting. training. coupons.

Get face to face with the people who matter most the customers. Make sure the marketing department starts small and flat and stays small and flat. Hire only passionate missionaries.Marketing Task  Ten rules of radical marketing      The CEO must own the marketing function. . Use market research cautiously.

Rethink the marketing mix. Create a community of consumers. Celebrate common sense.Marketing Task      Love and respect your customers. Entrepreneurial Marketing Formulated Marketing Intrepreneurial Marketing  Three stages of marketing practice    . Be true to the brand.

promoting.The Scope of Marketing  Marketing: typically seen as the task of creating. . and delivering goods and services to consumers and businesses.

The Scope of Marketing      Places Properties Organizations Information Ideas      Goods Services Experiences Events Persons .

The Decisions Marketers Make     Consumer Markets Business Markets Global Markets Nonprofit and Governmental Markets .

How Business and Marketing are Changing  Company responses and adjustments      Reengineering Outsourcing E-commerce Benchmarking Alliances     PartnerPartner-suppliers MarketMarket-centered Global and local Decentralized .

How Business and Marketing are Changing  Marketer Responses and Adjustments       Customer relationship marketing Customer lifetime value Customer share Target marketing Customization Customer database  Integrated marketing communications  Channels as partners  Every employee a marketer  Model-based decision Modelmaking .

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