marketing Marketing is a vital functional area of business

organisation the success of a business organisation

largely depends on the performance of marketing
department

marketing is instrumental to create demand for the

firm product

apart from creating demand effective marketing

generates customer satisfaction enhance corporate
image enables the firm to gain competitive
advantage maintains customer relationship develop
brand image enhances brand equity facilitates
business expansion and so on
 Marketing 
" marketing is the management process of identifying anticipating and
satisfying customer requirements profitably"
                          ~ Chartered Institute of marketing( UK)
Natures and features Importance of marketing
of marketing
1.  Corporate image  1. Corporate image 
2.  Competitive advantage  2. Competitive advantage 
3.  Customer satisfaction  3. Customer satisfaction
4.  Organizational objectives 4. Organisational objectives
5.  Expansion of business  5. Expansion of business
6.  Target market 6. Optimum use of resources 
7.  All pervasive  7. Economies of scale
8.  Systematic process 8. Customer relationship
 1. Marketing research
2. Branding 
3. Advertising 
4. Product design
Functions of marketing 5. After sale service 
6. Sales promotion
7. Personal selling
8. Pricing
9. Physical distribution
10. CRM (customer relationship
management)
Evolution of The exchange concept(any quality)

marketing The production concept (widely available at lower price )

concept  The product concept (higher quality and oerformance )

The concept of marketing has evolved The selling concept (aggressively promoted)

over a period of time in olden days fellows
adopted exchange concept and nowadays
large professional forms practise the The marketing concept (customer oriented concept)
holistic concept of marketing

The social concept (society's welfare + customer's satisfaction

+company's profit)

The relationship concept (long term customer relationship)

The holistic concept of marketing (4 element )

Four elements of holistic concept of marketing 
Philip kotler introduced the holistic concept of marketing which gives
competitive advantage to business forms nowadays professional marketers adopt
the holistic approach the holistic marketing concept consists of four elements

INTEGRATED RELATIONSHIP INTERNAL PERFORMNCE

MARKETING  MARKETING  MARKETING  MARKETING 
Strategic marketing management 
Strategy  marketing management
• strategic marketing enables a form to differentiate itself from its competitors by capitalising on its
strength to provide consistently better value to customers than its competitors
• a marketing strategy may be defined as a long term plan to achieve the firms objective
• the marketing strategy specifies
1. that resources that can be allocated to marketing
2. away with which resources could be used to take advantage of market opportunities
• a marketing strategy involves
1. identifying markets and customers requirement in those markets
2. planning products that would meet customer requirement
3. organising allocating resources to marketing activities
• implementing marketing activities to deliver customer satisfaction and to achievve firms objective
• Strategy marketing management involves a detailed analysis of all elements of marketing strategy
so as to design effective marketing mix
• strategic marketing management and examines the elements of marketing strategy such as a
market focused culture, customer and competitor analysis, value delivery, prizing, relationship
management, brand management and marketing communication
 Elements of marketing strategy

MARKET PRODUCT DISTRIBUTION PROMOTION PRICING 

SELECTION PLANNING  SYSTEM (PLACE) MIX

CRM
Difference between traditional and strategic marketing 
Traditional marketing  Strategic marketing
Meaning :- it is a process of identifying and satisfying customers
requirement achieve firms objective
Marketing research:- hardly invest funds
Objectives:- economic objectives such as profit
Pricing method :- oriented methods such as cost plus, markup pricing
Promotional mix:- you elements such as advertising, salesmanship, sales
promotion
Quality of product:- hardly placed emphasis on R&D
CRM:- acquiring new customers
Time frame :- short term frame
1. Meaning:- it is a process adopted by a phone
to differentiate itself from its competitors by
providing superior value to its customers
2. Marketing research:- Lot OF emphasis on
marketing research
3. Objectives:- social as well as economic
objectives 
4. Pricing method :- market oriented methods
suggest going rate prizing, differential pricing,
etc
5. Promotional mix:- integrated promotion mix
such as public city advertising, sales
promotion, salesmanship, public relations,etc
6. Quality of product:- lot of emphasis on R&D
7. CRM:- customer centric approach
8. Time frame :- long time frame
 Marketing research 
the systematic gathering recording and analyzing of data about problems relating to marketing of
goods and services

FEATURES

1.   SYSTEMATIC 2.     SCOPE (4P'S) 3.    APPLIED 4.     BRIDGES 5.     CONTINOUS IN
PROCESS RESEARCH COMPANY CUSTOMER NATURE 
GAP

1. Product research ​
2. Promotion
research ​
3. Pricing research ​
4. Placeresearch
1. ​ 6.    COMPANY 7.    METHODS OF 8.     COST EFFECTIVE 
OBJECTIVES  DATA COLLECTION 
MIS  MR 
1. Meaning MIS he's a structure of people 1. Meaning MR this is systematic process of
equipment and procedures to gather , collecting and analysing of data to solve
sort, analyse and transmit data two specific marketing problems
decision maker  2. Purpose the basic purpose is to solve
2. Purpose MIS provides relevant current marketing problems
information to make proactive and 3. Quantity of data requires less data as
reactive decisions compared to MIS 
3. Quantity of data requires huge mounds 4. Specific /general is more specific in nature
of data see
5. Time factor is a one time activity we solve
4. Specific /general MIS is more general in a problem
nature
6. Number of problems MR relates to one
5. Time factor this is a specific problem at a time
continuous activity 
6. Number of problems MIS collects and
stores data that can solve a variety of 7. Frequency of data collection
problems MR conducted as and when a specific
problem arises 
MIS marketing information system
consist of people, equipment and procedures to gather,
sort ,analyse, evaluate and distribute needed timely and accurate
information to marketing decision makers
                                              ~ Philip Kotler

   FEATURES
1. Systematic process
2. professional approach
3. continues in nature
4. use of latest techniques
5. cost effective information
6. decision-making
7. ensures regular supply of information
8. Future oriented
  Ensure proper pricing
internal  Minimize customers complain
records  Set sales target
 Launch new products
 Develop after sales service

marketing decision Components marketing

support system of MIS intelligence

marketing
research
Data mining
Investopedia states Data mining is a process used by companies to turn raw
data into useful information

IMPORTANCE 
1. Consumer behaviour
2. Customer loyalty
3. Competitive advantage 
4. Corporate image 
5. Promotion mix
6. Pricing of products 
7. Improved services to customer 
8. Higher returns 
Basis of market I  Geographical segmentation  II Demographic segmentation
1 NATIONS 2 REGIONS 3 1 AGE 2 GENDER 3
segmentation  URBAN/RURAL 4
LOCALITY
INCOME 4 EDUCATION 5
FAMILY SIZE

IV Psychographic 
III Sociographic
segmentation 1 LIFESTYLE
segmentation 1 CULTURAL
2 ATTITUDE 3 
2 REFERENCE GRP
PERSONALITY 

V Behavioural   
segmentation 1 USAGE
RATE 2 USER STATUS 3
BUYING MOTIVE
Factors influencing consumer
behaviour
CONSUMER BEHAVIOUR:

1. Marketing factors (4 p's)

2. Personal factors
3. Psychological factors
4. Situational factors
5. Social factors
6. Cultural factors
Marketing factors (4 p's) Personal factors
Age 

Gender

Product 
place
Promotion
Pricing 
Education

Income level

Status in society
Psychological factors
Situational factors
• Learning 
i. Attitude
• Motives Pysical surrondings Social surronding

• perception

Time factors(more on Momentary factors

his salary day) (mood and condition)
5. Social factors
6. Cultural factors
i. Refernce grp(colllegues /club i. Religion
members/friend circle/) ii. Sub cultures(language
ii. Family /caste/taste)
iii. Roles and status
 1 Needs identification
2 Information search 

3 Listing alternatives
Buying 4 Evaluations of alternatives

decision( pr 5 Attitude

ocess) 6 trial purchase

7 Purchase decision
8 post purchase behavior
Feedback and post purchase action
 IMPORTANCE 
1. Product development 
Market segmentation 2. Promotional mix 
is process of identifying  groups of buyers
3. Pricing of product 
with different desires and requirements                   
 -PHILIP KOTLER 4. Distribution strategies
5. Media selection
6. Use of resources 
7. Better services to
customer
8. Customer loyalty

CRM Customer relationship
management  2. Loyalty programmes
is concerned with managing detailed
information about individual customer
and all customer touchpoints to
maximize customer loyalty
             ~ PHILIP KOTLER AND
GARY ARMSTRONG
           ~ IN THEIR BOOK
"PRINCIPLES OF MARKETING
MANAGEMENT"
TECHNIQUES
1. Data warehousing and data
mining
                 
 (MVC)
3. One to one marketing               
CUSTOMER AS PARTNER
4. Priority customer programmes
(MVC)
5. After sale services
6. Satisfaction survey
7. Customer service agent
8. Suggestion schemes
 Marketing target
the segment which a company intends to serve are called the
target market and the process of selecting the target market is
referred as market targeting
Five patterns of target market selection
1. Single segment concentration (selects single specific market and
offers single product )                    
2. market specialization(selects single market  but multi product )
3. selective specialization (involves several segments ,products and marketing mix *
to single grp of people like rich)
4. product specialization(several segments  but one product and one marketing mix)
5. full market coverage(several segments ,several markets and several marketing mix
* a very large MNC's)
methods of full market coverage
i. undifferentiated marketing
ii. differentiated marketing
Pattern of target market  Market segment products Marketing mix 

1. Single segment one one one

2.   market specialization One  Several  Several 

3.  selective specialization several Different  Several 

4.   product specialization several One  One 

5.   full market coverage( all Several  Several 

Module 2
 marketing mix refers to the marketing
Marketing variables that combined to sell a product to
the target market
mix
in 1960 E. Jerome McCarthy in his book" basic
marketing", popularised a four factor
classification ,"4p's" : product, price,
place( distribution) and promotion
at present, additional P's are added: pace,
positioning,, packaging, processes of delivery,
people, and physical environment
Marketing mix
The basis of marketing operations is the co-ordination of four key variables, namely : product ,price , place and
promotion     ~E Jerome Mccarthy
marketing mix is the set of marketing tools that firm uses to pursue its marketing objectives in the target market   
     ~Philip Kotler 

Features 
1. All pervasive 
2. Dynamic in nature 
3. Environmental variables 
4. Focus on customer 
5. Goals of organization
6. PLC product life cycle 
7. Variables are inter – related
8. Blended in many ways 
 1. Product
2. Price 
3. Promotion
4. Place 
Elements/Components
of Marketing (7 P's) 5. Pace 
6. Packaging 
7. Positioning 
8. People 
9. Physical evidence 
10. Process 
11. Productivity and quality
 1. Product design
2. Product mix/product line decision 
3. Product packaging
Product 4. Product labelling 
decision area  5. Product pricing 
6. Product positioning
7. Product promotion
8. Product warranty 
9. Branding decisions 
10. After sales service 
11. Product distribution decisions 
PLC –concept and stages 

Product development stage 

Introduction stage 

Growth stage 

Maturity stage 

Decline stage 
 1. At the introduction stage 
i. Product strategy 
ii. Price and promotion strategies 
iii. Distribution strategies 
2.    At the growth stage 
iv. Product strategies 
Management of PLC
v. Price and promotion strategies

Stages  3.   Distribution strategies 

vi. New market strategies 
vii. Increase distribution coverage 
viii. New distribution channels 
4.   At decline stage 
ix. Product strategies 
x. Price and promotion strategies `
xi. Distribution strategies 
 Brand personality 

Brand function 

Brand benefits 

Branding – Brand association 

Brand image 
concept and Brand name 

components  Brand logo 

Brand features and design

Brand packaging

Brand equity
Brand Equity –concept and factors
Brand loyalty
Brand name awarenness
Brand asociation
After sale service 
Percieved quality of the brand 
Brand ambassadors 
Brand patent 
Brand logo
 Packaging –essential of
good package 

1. Suitability
2. Attractive 
3. Buyer's specification
4. Convenience to customer
5. Convenience to dealers 
6. Dependable 
7. Ease in identification
8. Ease in displaying
9. Economy 
Product positioning –strategies 

1. Product features
2. Price and quality
3. Positioning by product class
4. Positioning by product's benefits
5. Positioning by price 
6. Positioning by corporate image 
7. Positioning by culture symbols/names '
8. Positioning by competitors
 Importance 
Corporate image 
Creates demand
Competitive advantage 

Service Status 

positioning Creates brand image 

Commands a premium 
Targeting customers
Customer loyalty
Challenges in service positioning 
 1. Survival
2. Profit objectives 
3. Sales objectives 
4. Competitive effect objectives 
Pricing – 5. Image diffrentiation

objectives  6.
7.
Market skimmmng objectives 
Early cash recovery
8. Market entry barriers objective
9. Customer satisfaction objectives 
10. Social resposibility objectives 
Factors influencing pricing 

Internal Factors External Factors 

7.   competition
8.   comsumers 
Costs Corporate Objectives of 9.   demand 
image  the firm 
10.  economic conditions
11.  financial incentives 
12.  other external factors 
Product  PLC Other internal
factors 
Pricing strategies 
1. Skimming pricing strategy 
2. Penetration pricing strategy
3. Standard pricing strategy 
4. Probe pricing strategies 
5. Transfer pricing strategies 
6. Trial pricing 
7. Follow the leader pricing strategy
8. Flexible price strategy
9. Psycological pricing strategy