Defining Marketing

Core Aspects of Marketing

• It helps in creating value
• It is about satisfying customer needs and wants
• It entails an exchange
• It is required in marketing mix decisions.
• It can be performed by both individuals as well as organizations.
• It impacts various stakeholders.
Evolution of Marketing
• Production Era
• Sales Era
• Marketing Era
• Relationship Era
Concepts regulating Marketing Activities
• The Production Concept – It holds that consumers will prefer the products that
are widely available and inexpensive.
• The Product Concept – It proposes that consumers favors products that offer
the most quality, performance or innovative features.
• The Selling Concept – It holds that consumers and businesses, if left alone,
won’t buy enough of the organization’s products.
• The Market Concept – The job is not to find the right customers but to find the
right products for the customers.
• The Holistic Market Concept – This concept not only cares for the customer
satisfaction but also for consumer welfare or social welfare.
Holistic Concept
• Internal Marketing
• Integrated Marketing
• Relationship Marketing
• Social Responsibility Marketing

• Internal marketing is the promotion of a company's objectives, products and

services to employees within the organization. 
Marketing Philosophies
• Production orientation (till 1940)
• Sales orientation (From 1940 – 1950)
• Customer orientation (from 1950 – 1970 )
• Societal Orientation (from 1970 onwards )
Difference between Selling and Marketing
Marketing
It starts with customer needs and takes outside – in
view of the market
It focuses on customer’s needs of want satisfying
products
It pitches on product planning and development to
match products with the market
It aims at profits through customer satisfaction
Integrated approach is being practiced
Selling
It starts with factory and takes inside – out view of the
market
It focuses on seller’s needs of converting his products
into cash
It pitches on sale of products already produced
It aims at profits through sales volume
Fragmented approach is being practiced
Objectives of Marketing
“ the end of all the marketing activities is the satisfaction of human wants” – Barker and Anshen

• To apply effective and intelligent modern marketing policies

• To develop market field
• To develop and implement guiding policies for better results
• To suggest solutions
• To find sources for further information
 Marketing process in broader sense
Industry Market

Collection of A collection of
Developing Managing buyers
sellers Analyzing the Selecting the
the the
market target
marketing marketing
opportunities markets
mix effort
Place of
Place of consumption
production
Scope/ Functions of Marketing
Scope / functions of Marketing

Functions of
Functions of Functions of Functions facilitating
physical
research exchange exchange
Treatment
Challenges in Business Marketing
• Changing Technology
• Globalization
• De regulation and strong competition
• Privatization
• Customer empowerment
• Customization
• Environment protection
• Disintermediation
Customer Empowerment
Giving customers support on the
channels they want empowers them and
makes them trust your brand.
•Help them save time. One way to
empower customers is by saving them
time. ...
•Listen to customer concerns. ...
•Give them a secure experience. ...
•Give customers the right to opt-out.
disintermediation refers to the process of
cutting out the financial intermediary in a
transaction. It may allow a consumer to buy
directly from a wholesaler rather than through
an intermediary such as a retailer, or enable a
business to order directly from a manufacturer
rather than from a distributor.
Innovations in Modern Marketing

• Morph Marketing
• Social/ societal marketing
• De- Marketing
• Meta Marketing
• Re – Marketing
• Counter Marketing
• Green Marketing
• Speed Marketing
• Word of mouth Marketing
• Service Marketing
• Event Marketing
• Network Marketing
• Guerilla Marketing