1

Role of marketing
in today’s organization
 2

“Marketing is Marketing
Everywhere!”
- Michael Baker
 Evolution of Science v/s Social Science 3
 Three pillars of Marketing
 Psychology – Purchasing behaviour
 Economics – Maximizing satisfaction
 Sociology – Social behaviour across spectrum of
society
 Marketing: Derived from the word ‘Market’
 What is Market?
 What is Marketing?
 What is Marketing Management?
Definition # 1.
4

“Marketing is an organizational function and set

of processes for Creating, Communicating and
Delivering value to customers and managing
customer relationships in a way that benefit the
organization and its stakeholders.”
Definition # 2. 5

“Marketing Management is an art and science of

choosing Target Market and getting, keeping
And growing customers through Creating,
Communicating and Delivering superior
customer value.”
 Types of “Needs”
6
Stated needs: Customer wants an inexpensive car
Real needs: Wants a car whose operating cost is low
Unstated needs: Expects good service from the
dealer
Delight needs: Like the dealer to include onboard GPS
Navigation system
Secret need: Wants friends to see him or her as
savvy consumer
 7

Competing concepts of Marketing

 8

 Production Concept
 Product Concept
 Selling Concept
 Marketing Concept
 Holistic Marketing Concept
 Selling v/s Marketing 9

Starting
point Focus Means Ends

Existing Selling and Profits through

Factory products promotion sales volume

(a) The selling concept

Customer Integrated Profits through

Market needs marketing customer
satisfaction

(b) The marketing concept

Source: Understanding Marketing Management - Otterbein College
Holistic Marketing Concept
10
 11
Marketing Mix

 McCarthy classified various marketing activities

into Marketing Mix tolls :
Known as 4Ps of Marketing
12
7Ps of Service Marketing 13
 14

End…