Introduction to Marketing

Meaning and Definition of Marketing

• Marketing management is the art and science

of choosing target market and getting,keeping
and growing customers through
creating,delivering and communicating
superior customer value.
Philip Kotler
 Nature and Features of Marketing
• Sytematic process
• Ideas,goods and services
• Target markets
• All pervasive
• Marketing environment
• Integrated approach
• Societal intrest
• organisational objectives
• Customer satisfaction
 Importance of Marketing
• Competitive advantage
• Corporate image
• Customer satisfaction
• Customer relationship
• Expansion of business
• Economies of scale
• Brand image
• Brand loyalty
• Brand equity
 Functions of marketing
• Market Research
• Banding
• Advertising
• Product Design
• After Sale Service
• Sales promotion
• Personal Selling
• Pricing
• Physical Distribution
• Customer relationship
 Evolution of Marketing
• Exchange Concept
• Production Concept
• Product Concept
• Selling Concept
• Marketing Concept
• Societal Concept
• Relationship Marketing Concept
• Holistic concept of Marketing
 Marketing Research
Meaning and Features
• Systematic process
• Specific in nature
• Scope
• Bridges Company Customer Gap
• Continuos in Nature
• Company Objectives
• Cost effective
• Marketing mix Decisions
• Sources of Data collection
• Suffers from Certain limitations
 Marketing Research Process
• Identify and Define Problem
• Conduct a Preliminary Investigation
• Determine Data Needs
• Determine Data Sources
• Create Research Design
• Design Questionnaire
• Designing Sample of Respondents
• Collection of Data
• Organisation of Data
• Analysis and Interpretation of Data
• Preparation of Research Report
• Follow- up of Report
 Meaning and components of Marketing
Information System(MIS)
MIS includes all data in terms of
facts,opinions,views, guidelines and policies,
which are necessary to make vital marketing
decisions
 Components of MIS
• Internal Records
• Marketing Intellegence
• Marketing Research(research from
consumer,dealers,product,promotion,pricing,
place)
• Marketing Decision Support System
 Consumer Behaviour Definition
• Consumer behaviour is the decision process
and physical activity,which individuals engage
in when evaluating,acquiring,using or
disposing goods and services
 Features of Consumer Behaviour
• Process
• Influenced by various features
• Different for different Customers
• Different for different Products
• Varies across Regions
• Vital for Marketers
• Results in Spread –effect
• Undergoes a change
 Factors Influencing Consumer Behaviour

• Marketing factors like 4Ps

• Personal factors like age,gender,education,income
• Psychological factors like
learning ,attitude,motives, perception
• Situational factors like social surroundings, time
factor,momentary condition
• Social factors like reference groups,family,status
and role
• Cultural factors
Consumer Buying Process
 Market segmentation meaning
• Market segmentation is a process of
identifying groups of buyers with different
desires or requirements
 Importance of Market Segmentation

• Market Opportunities
• Product Development
• Promotion Mix
• Pricing
• Distribution
• Media selection
• Use of resources
• Better service to customer
 Customer Relationship Management

• CRM is concerned with managing detailed

information about individual customers and all
customes touch points to maximise
customerloyalty
 Techniques of CRM
• Data mining
• Loyalty programmes
• One to one marketing
• Priority customer programmes
• After sales service
• Satisfaction survey
• Suggestion scheme
 Target market Meaning and Techniques

• Target market is the market to which company

wants to sell its product
• Techniques
• Single segment Concentration(niche market)
• Multi segment
• Product specialisation
• Market specialisation
• Mass marketing