Marketing Management

What do you mean by Market?

Defination of Marketing by The
American Marketing Association
• Marketing is a process of planning &
executing the conception, pricing,
promotion & distribution of ideas, goods &
services to create exchanges that satisfy
individual & organisational goal.
Philip Kotler

Marketing is a societal process by which

Individuals & groups obtain what they need
& want through creating, offering & freely
exchanging products & services of value
with others.
Marketing Management

The art & science of choosing target

markets & getting ,keeping & growing
customers through creating, delivering &
communicating superior customer value.
Tangible & Intangible Items
Tangible Items
.Physical appearance
Sence by touching & smelling.
eg. Goods
seeds, machine, chemicals.

Intangible Items
.Don’t have the physical appearance.
eg. Services- Agri. consultancy ,Hotel industry.
Ideas-concept, philosophy.
.
Need & want
Need
.Basic requirements for existence of life.
eg. Food ,shelter, clothing

Want
After fulfillment of the need, want arises.
Un ended.
Eg. Meal is a need but pav- bhaji is a want.

Decide mkt. strategy.

Utility

Providing the product to the consumer at

the right place, right time, right price & in
a right form.

Product satisfies the consumers needs &

wants is called as utility.
Types of the Utility

1)Form utility
Raw material to finished product.
eg. Dairy industry. Milk - Milk byproducts

2)Time utility
When customer requires the product.
eg. ATM machines
Types of the utility
3) Place utility
Location preferred by the customer.
eg. Milk at your doorstep.

4) Possession utility
Product utilization as per the customers wish
eg. Tractor, House
Marketing people involved in 10
types of entities :-
• Goods
• Services
• Experiences
• Events
• Persons
• Places
• Properties
• Organization
• Information
• Ideas
The concepts of Marketing
Management / Evolution of Marketing
1) Production concept
. The products which are widely available & not
expensive.
. Concentration only on high production, low
cost ,mass distribution.
. Customers are interested in product availability
rather than product features.
eg. Salt, Sugar, Flour.
2) Product concept

. Company assumes that some customers

are quality, performance & feature
focused for the product.
. Will not trace the competitors activity &
will trust on their manufacturing team.
eg. Mapro products,Coca-cola, Mc-Donald’s
3) Selling concept

. Aggressive selling & promotion.

. Applied for the products that buyers
normally do not think to buy.
. High risks.
. eg- Insurance, Enclyclopedia
4) Marketing & Customer
Concept
. The right product for the right customers.
. The marketing strategies are focused on
customer satisfaction.
• Building customer loyalty
• Customized product offers & services.
• Focusing on lifetime customer value.
5) Societal marketing Concept

• Humanistic & Ecological Marketing

• Build social & ethical consideration
• Eg. Ecofriendly packaging
6) Relationship Marketing
concept
• Relationship marketing is a customer
relationship management (CRM) that focuses on
customer loyalty and long-term customer
engagement rather than shorter-term goals.
• The goal of relationship marketing is to create
strong, even emotional, customer connections to
a brand that can lead to ongoing business, free
word-of-mouth promotion and information from
customers that can generate leads.
• Eg. Bonus points, Events, Brand
Ambassador
7) Holistic Marketing concept
• “The whole is more than the sum of its parts.”
— Aristotle
• A human will always be greater than the sum of
eyes, nose, legs, hands, etc.
• A business may choose to use a holistic
marketing approach when they are under the
strong belief that all aspects of its marketing
strategy are interrelated.
• The marketing mix, the design of marketing
campaigns, and the implementation of
marketing processes are not isolated business
functions