Introduction To Marketing

Semester – I 105 – Basics of Marketing (3 Credits)
Compulsory Generic Core Course

CO# COGNITIVE COURSE OUTCOMES
ABILITIES
CO105.1 REMEMBERING REPRODUCE the key marketing concepts,
components & principles of marketing environment,
segmenting, targeting, positioning, consumer
behaviour, marketing mix, and product life cycle.
CO105.2 UNDERSTANDING INTERPRET the basic concepts, principles &
frameworks of marketing in the context of diverse
business situations for explaining the relevant issues
with regard to marketing environment, segmenting,
targeting, positioning, consumer behaviour,
marketing mix, and product life cycle.
CO105.3 APPLYING APPLY the contemporary marketing theories,
frameworks & tools to inform problem solving with
respect to marketing environment, segmenting,
targeting, positioning, consumer behaviour,
marketing mix, and product life cycle.
105 – Basics of Marketing
CO# COGNITIVE COURSE OUTCOMES
ABILITIES
CO 105.4 ANALYSING EXAMINE the critical marketing issues for drawing
inferences about the underlying causes and relationships
concerning marketing environment, segmenting,
targeting, positioning, consumer behaviour, marketing
mix, and product life cycle.
CO105.5 EVALUATIN EVALUATE the alternative courses of actions to make
G judgments with regard to the solution for problems
involving marketing environment, segmenting, targeting,
positioning, consumer behaviour, marketing mix, and
product life cycle.
CO105.6 CREATING GENERATE alternative approaches to the emerging

business challenges in the context of marketing
environment, segmenting, targeting, positioning,
consumer behaviour, marketing mix, and product life
cycle.
105: Basics Of Marketing
• 1. Introduction to Marketing: Definition & Functions of Marketing-
Scope of Marketing, Evolution of Marketing. Core Concepts of
Marketing – Need, Want, Demand, Customer Value, Exchange,
Customer Satisfaction, Customer Delight, Customer loyalty. Concepts
of Marketers and Prospects, Key customer Markets, Marketplaces,
Marketspaces, Meta markets. Digital Markets, Brick & Click Model.
Impact of Globalization, Technology and Social Responsibility on
Marketing. New Consumer Capabilities, New Company Capabilities.
Functions of Marketing Manager. Linkage of Marketing Function
with All Functions in the Organization. Company Orientation Toward
the Marketplace - Production, Product, Selling, Marketing, Holistic
Marketing Orientation. Selling versus Marketing. Concept of
Marketing Myopia. Marketing Process, Understanding Marketing as
Creating, Communicating, and Delivering Value. (7+2)
2.Marketing Environment: Concept of Environment,
Macro Environment & Micro Environment – Components
and Characteristics, Needs & Trends, Major Forces
Impacting the Macro Environment & Micro Environment,
Need for Analyzing the Marketing Environment.
Analyzing the Demographic, Economic, Sociocultural,
Natural, Technological, and Political-Legal Environment.
(7+2)
3. Segmentation, Market Targeting & Positioning:
Segmentation: Concept, Need & Benefits. Bases for
Segmenting Consumer Markets - Geographic, Demographic,
Psychographic, Behavioural. Bases for Segmentation for
Business Markets. Levels of Segmentation, Criteria for
Effective Segmentation. Market Potential & Market Share.
Market Targeting - Concept of Target Markets Market
Targeting and Criteria for Selection, Evaluating and Selecting
the Market Segments – Full Market Coverage, Multiple
Segment Specialization, Single-Segment Concentration,
Individual Marketing, Long Tail Marketing. Positioning -
Concept of Differentiation & Positioning, Value Proposition
& Unique Selling Proposition. (7+2)
4. Consumer Behavior: Meaning & Importance of
Consumer Behavior, Comparison between Organizational
Buying Behavior and Consumer Buying Behavior,
Buying Roles, Five-Stage Model of Buying Decision
Process – Problem Recognition, Information Search,
Evaluation of Alternatives, Purchase Decision, Post
Purchase Behavior. Moment of Truth, Zero Moment of
Truth, ZMOT. Moderating Effects on Consumer Decision
Making. (7+2)
5. Marketing Mix: Origin & Concept of Marketing Mix,
7P’s - Product, Price, Place, Promotion, People, Process,
Physical Evidence. Product Life Cycle: Concept &
Characteristics of Product Life Cycle (PLC), Relevance of
PLC, Types of PLC and Strategies Across Stages of the
PLC. (7+2)
Suggested Text Books:
1. Marketing Management, Philip Kotler, Kevin Lane

Keller, Abraham Koshy, Mithileshwar Jha, Pearson, 14th
Edition
2. Marketing Management, Rajan Saxena, TMGH
3. Marketing, Lamb, Hair, Sharma, McDaniel, Cengage

Learning Suggested
Reference Books:
1. Principles of Marketing, Philip Kotler, Gary Armstrong,

Prafulla Agnihotri, Ehasan Haque, Pearson, 13th Edition
2. Marketing Management- Text and Cases, Tapan K

Panda, Excel Books
3. Marketing Management, Ramaswamy & Namakumari,

Macmillan.
4. Marketing Whitebook
WHAT IS MARKETING?
Marketing is everyone’s business. Every person working for
an organisation should understand the importance of
marketing.
 Definitions: “ Marketing is the management process
responsible for identifying, anticipating and satisfying
consumer requirements profitably”
“Marketing is the process of planning and executing the

conception, pricing, promotion and distribution of ideas,
goods and services to create exchange and satisfy
individual and organisational needs.”
 AMA
WHAT IS MARKETING?
Definition of Marketing:
“Marketing can be defined as the process of
planning and executing strategies and tactics to
promote products, services, or ideas, with the goal
of achieving specific business objectives while
addressing the needs and desires of the target
audience. It involves understanding consumer
behavior, market trends, and competitive
dynamics to make informed decisions that lead to
successful outcomes”.
Why It’s Important
Effective marketing puts the

products in the hands of its targeted
customers.
Basics of Marketing
A market is a group of customers who share
common wants and needs, and who have the ability
to purchase a particular product.
Marketing is the process of creating, promoting, and

presenting a product to meet the wants and needs of
consumers.
MARKETING IS AN ORGANISATIONAL
FUNCTION
The diagram below shows the many functions that can be carried out in organisations
which, dependant on the organisation, can be classified as operational functions of
marketing.
CRM Sales Promotion Advertising P.R.
Selling
Display
Financing
Stockholding
The operational
functions of marketing Buying
Servicing
Forecasting
Risk Taking
Pricing
Transporting Market Research Merchandising Publicity

MARKETING FUNCTION
 Marketing Research
 Product Development
 Product Promotion
 Distribution
 Pricing
 Branding
 Customer Relationship Management (CRM)
 Market Segmentation & Targeting
 Advertising and Promotion
 Sales & Sales Support
 Market Analysis & Strategy
 Sustainability & Responsibility
MARKETING FUNCTION
• Marketing is a multifaceted business function that

revolves around understanding customer needs,
developing and promoting products or services, and
facilitating the exchange of value in a competitive
marketplace. It's a dynamic field that continuously
evolves with changes in technology, consumer
behavior, and global trends.
MARKETING AS A MANAGEMENT
FUNCTION
Here the role of marketing is ensuring that the operational activities of
the organisation (not just marketing) are clearly directed towards
the principal objective of meeting the needs of the customers
effectively. It involves analysing customers and anticipating their
needs, planning, resource allocations, control and investment in
terms of money, appropriate skilled people and physical resources
to ensure both customer and organisational needs are met to reach's
satisfaction.
 Marketing as a Business Concept – in this regard marketing is the
study of exchange processes especially those associated with the
provision of goods and services. It takes its lead from the social
sciences in that, the basic tenant of society is that we all need each
other. The idea here is, if I’ve got something you want and you’ve
got something I want, then we do a deal (which is the exchange
process)
MARKETING AS A BUSINESS CONCEPT
The Exchange Process
Something of value
Goods, services, benefits
Supplier Customer
Money, exchange of goods
Something of value
EXCHANGE TRANSACTIONS
Consumers Costs & Benefits Organisations
Cash
Quench
thirst
Customer Pepsi
Insurance
premiums
Medical
treatment
Patient Private Hospital
Fees
Education
Student University
EXCHANGE TRANSACTIONS
Consumers Costs & Benefits Organisations
Time
Sense of
community
Volunteer service Non-profit youth group
Vote
Sense of economic/social
progress continued
Voter employment etc Politic Party
Taxes
Reader
Lone parent Public Library, Benefit
agency
MARKETING AS A BUSINESS
PHILOSOPHY
Simply a way (i.e. orientation) towards how the business will
behave.
As a philosophy it recognises the importance of the customer
and that all business exists to serve customers rather than
manufacturing products.
To quote Adam Smith in his famous text ‘ The wealth of

“Consumption is the sole purpose of production and the
interests of the product ought to be attended o only so far as
it may be necessary for promoting those of the customer”
CORE CONCEPTS OF MARKETING
Needs Products/ Value

Wants Services &
Demand Satisfaction
Exchange
Process
Markets Marketing
Exchange
Transactions
Relationships
EVOLUTION OF MARKETING CONCEPT AND
MARKETING ORIENTATION
 Self-sufficiency – No exchange process
 Simple – Start of exchange process
 Local markets – Economic specialisations
 Money economy – Medium of exchange
 Industrial revolution – Rapid growth in world
population leading to increased demand.
Problem – How to supply?
 Production orientation – More efficient production
eventually led to oversupply.
Problem changed to – How to dispose?
EVOLUTION OF MARKETING CONCEPT AND
MARKETING ORIENTATION
 Soles orientation – Economic theory states: when
supply exceeds demand, reduce price and use other
techniques to stimulate demand.
 Product orientation – Demand. Problem – how to
keep customers? Companies sought to keep customers by
increasing emphasis on product design, Problem –
competition quickly copied and the design didn’t suit
everyone. Too many products than they demand for them.
 Marketing orientation – Production based on
customer needs and wants. Specific markets identified
and matched their requirements to the capabilities of the
company to ensure both parties needs were satisfied.
BUSINESS ORIENTATION
Orientation Profit Approximate Characteristics
Driver Time Frame
Production Production Up to 1940’s Improvement of
Methods production and in order to
achieve a reduction of
costs and improved
efficiency.
Product Quality of Until 1960’s The quality of the product
Product is paramount. Focus on
product not customer
needs.
Selling Selling 1950-1970’s Effective selling and
Methods promotion are the new
drivers to success.
BUSINESS ORIENTATION
Orientati Profit Approximat Characteristics
on Driver e Time
Frame
Marketing Needs & 1970 to date Focus on providing the goods
wants of and services that satisfy the
customers needs and wants of consumers.
Further approaches to marketing
Relations Building 1990’s to Emphasis placed on keeping as
hip & keeping date well as winning customer
Marketing good CR strategies.
Societal Benefit 1990’s to Similar to marking orientation
Marketing the date but also concerned with the
society long term impact of
organisational activities on the
environment (society)
Scope of Marketing
Product and Service Marketing
Digital Marketing: Content Marketing
Social Media Marketing
Influencer Marketing
Email Marketing
Search Engine Marketing (SEM)
Mobile Marketing
Event Marketing
Experiential Marketing
Retail Marketing
B2B Marketing
International Marketing
Nonprofit Marketing
Scope of Marketing
Green Marketing
E-commerce Marketing
Data-Driven Marketing
Marketing Automation
Ethical and Socially Responsible Marketing
Crisis Management and Reputation Marketing
The scope of marketing continues to expand as technology

advances and consumer behavior evolves. Successful
marketing professionals must adapt to these changes and
stay updated with the latest trends and tools to effectively
reach and engage their target audiences in a competitive
marketplace.
Core Concepts of Marketing
Marketing is a multifaceted discipline with several core
concepts that serve as the foundation for understanding &
implementing effective marketing strategies. These core
concepts provide insight into how businesses create,
communicate, deliver, & exchange value with their
customers
Need
Want
Demand
Customer Value
Exchange
Customer Satisfaction
Customer Delight
Customer loyalty
Needs: These are basic requirements for human survival,
such as food, clothing, and shelter.
Wants: Wants are specific desires or preferences beyond

basic needs, often influenced by culture and personal
taste.
Demands: Demands arise when wants are supported by

the ability and willingness to pay for a product or service.
Customer value :-
It is a fundamental concept in marketing & business that
refers to the perceived benefits and advantages that
customers receive from a product, service, or brand in
relation to the cost and effort they invest in acquiring and
using it.
It represents what customers believe they gain from the
product or service compared to what they give up, both in
terms of monetary value & non-monetary factors.
Understanding & delivering customer value is essential for
building and maintaining strong customer relationships &
achieving long-term business success. Here are key aspects
of customer value:
Customer value :- key aspects of customer value
Perceived Benefits: Customer value is primarily based on
the benefits and advantages that customers perceive when
using a product or service. These benefits can be functional
(e.g., features, performance), emotional (e.g., happiness,
peace of mind), or social (e.g., status, belonging).
Relative to Costs: Customer value is relative. It compares
what customers receive (benefits) to what they give up
(costs), which may include the purchase price, time, effort,
and any associated risks.
Cost vs. Benefit Trade-off: Customers assess the trade-off
between the cost of acquiring and using a product or service
and the benefits they expect to receive. When the perceived
benefits outweigh the costs, customers perceive high value.
Unique to Each Customer: Customer value is subjective &
can vary from one customer to another. What one customer
values may differ from what another customer values based
on their individual needs, preferences, and circumstances.
Long-Term Perspective: Building & maintaining customer
relationships often involves delivering value over the long
term. Consistently meeting or exceeding customer
expectations creates loyalty and encourages repeat business.
Competitive Advantage: Businesses that can consistently
deliver superior customer value compared to competitors
can gain a competitive advantage in the market. This can
lead to higher market share and profitability.
Value Proposition: A value proposition is a statement that articulates

the unique benefits and value a product or service offers to customers.
It communicates why customers should choose a particular offering
over alternatives.
Customer Satisfaction: Satisfied customers are more likely to
perceive value in a product or service. Monitoring customer
satisfaction through surveys, feedback, and reviews helps gauge how
well a business is delivering value.
Customer Loyalty: Consistently providing value can lead to customer
loyalty, which means customers choose to continue doing business
with a company over time. Loyal customers are more likely to make
repeat purchases and recommend the brand to others.
Customer Lifetime Value (CLV): CLV is an estimate of
the total value a customer brings to a business over the
duration of their relationship. It considers not only
individual transactions but also the potential for repeat
purchases and referrals.
Continuous Improvement: Successful businesses focus on
continually improving their products, services, and customer
experiences to enhance customer value and stay competitive.
Feedback and Communication: Listening to customer
feedback and maintaining open lines of communication are
crucial for understanding changing customer needs and
preferences, which in turn helps businesses adapt and deliver
greater value.
Customer value is a central concept in marketing and

business strategy. It is about delivering benefits and
advantages that meet or exceed customer expectations
while considering the costs and trade-offs involved.
By consistently providing value and fostering strong

customer relationships, businesses can thrive and succeed
in a competitive marketplace.
Exchange -"exchange" refers to the fundamental process of
transferring goods, services, or other valuable items between
parties in a transaction. Exchange is a core concept in
understanding how markets function and how businesses
create value for customers.
Parties Involved: Exchange typically involves at least two
parties: a buyer and a seller. The buyer seeks to acquire a
product or service, while the seller provides it in exchange
for something of value, usually money.
Mutual Benefit: For exchange to occur, both parties must
perceive that they will benefit from the transaction. Buyers
believe they will receive value from the product or service,
& sellers believe they will receive compensation that
exceeds the cost of providing the product or service.
Exchange
Value Proposition: The value proposition represents what a
seller offers to customers in exchange for their money or
other resources. It defines the benefits, features, and value
that make the product or service attractive to buyers.
Market Mechanism: Exchange is the mechanism through
which goods and services move through markets. The
interaction of buyers and sellers determines prices,
quantities, and the allocation of resources in an economy.
Types of Exchange:
Monetary Exchange: Involves the use of money as
a medium of exchange. Buyers pay sellers with currency,
checks, credit cards, or other financial instruments.
Barter Exchange: Occurs when goods or services are
exchanged directly without the use of money. Barter
transactions require a double coincidence of wants,
meaning both parties must have something the other desires.
Digital Exchange: With the growth of e-commerce &
online marketplaces, digital exchanges have become
increasingly common, enabling transactions over the
internet.
Voluntary Transaction: Exchange is typically a voluntary
transaction, meaning that both parties enter into the
transaction willingly and without coercion.
Transfer of Ownership or Control: In most exchanges,
there is a transfer of ownership or control of the product or
service. The buyer gains ownership, possession, or the right
to use the item, while the seller relinquishes it.
Information Exchange: In some cases, exchange involves
the transfer of information or knowledge rather than
physical goods. For example, consulting services,
educational courses, and intellectual property may be
exchanged.
Pricing: The price at which the exchange occurs is
determined by market forces, including supply & demand
dynamics, competition, & perceived value. Pricing strategies
& tactics are used to influence the terms of exchange.
Reciprocity: Exchange often leads to reciprocal
relationships between buyers and sellers. Satisfied
customers may become repeat customers and even advocates
for a brand or business.
Marketing's Role: Marketing plays a crucial role in
facilitating exchange by identifying customer needs, creating
value propositions, promoting products or services, and
developing pricing and distribution strategies to connect
buyers and sellers.
Exchange is the cornerstone of economic activity, and it

underpins the functioning of markets and the growth of
businesses. Understanding the principles of exchange is
essential for businesses to develop effective marketing
strategies and meet the needs and desires of their customers
while achieving their own business objectives.
Customer satisfaction
It is a critical metric that businesses & organizations use to
evaluate how well they meet their customers' expectations &
needs. It reflects the degree to which customers are content
with a product, service, or overall experience. High levels of
customer satisfaction are typically associated with increased
customer loyalty, repeat business, & positive word-of-mouth
recommendations.
Key aspects of customer satisfaction include:
Product/Service Quality: Customers expect the products or
services they purchase to meet or exceed their expectations
in terms of performance, durability, and functionality.
Customer Service: The way a company interacts with its
customers can significantly impact satisfaction. Prompt &
helpful responses to inquiries, issues, or complaints can
boost satisfaction levels.
Timeliness: Meeting delivery or service timelines is crucial.
Delays can lead to dissatisfaction, while timely delivery and
service can enhance satisfaction.
Communication: Transparent and effective communication
is essential. Customers appreciate being informed about any
changes, updates, or issues related to their purchase or
experience.
Price and Value: Customers often compare the price they
pay with the perceived value they receive. Providing a good
value for the cost can increase satisfaction.
Convenience: Convenience factors, such as ease of
ordering, payment options, and accessibility, can have a
significant impact on satisfaction.
Personalization: Tailoring products or services to
individual customer preferences can enhance satisfaction by
making customers feel valued and understood.
Problem Resolution: How effectively a company handles
customer complaints or issues can greatly affect satisfaction.
A prompt and fair resolution can turn a dissatisfied customer
into a loyal one.
Measuring customer satisfaction typically involves surveys,
feedback forms, online reviews, and direct customer
interactions. Net Promoter Score (NPS), Customer
Satisfaction Score (CSAT), and Customer Effort Score
(CES) are common metrics used to gauge and track
customer satisfaction.
It's important for businesses to prioritize customer
satisfaction as it can have a direct impact on their success &
profitability.
Satisfied customers are more likely to become repeat
customers & advocates for a company, helping to attract
new customers through positive word-of-mouth & reviews.
Conversely, dissatisfied customers can have a detrimental
effect on a business's reputation and bottom line.
Customer Delight
It goes beyond mere customer satisfaction. It involves
exceeding customer expectations & creating a memorable &
positive experience that leaves customers feeling surprised,
delighted, & eager to continue doing business with a
company. Delighted customers are more likely to become
loyal customers & brand advocates.
key aspects of customer delight
Surpassing Expectations: Delighting customers often
involves going the extra mile & providing more than what
customers anticipate. This can include offering unexpected
perks, additional features, or personalized service.
key aspects of customer delight
individual customer preferences is a powerful way to create
delight. When customers feel that a company understands
and values their unique needs, they are more likely to be
delighted.
Proactive Problem Solving: Anticipating and addressing
customer issues before they become problems can be a
source of delight. This demonstrates a company's
commitment to customer well-being.
Timely and Efficient Service: Quick response times and
efficient service delivery can delight customers, especially
when they are in urgent need of assistance.
Key aspects of customer delight
Exceptional Customer Service: Exceptional customer
service interactions, where representatives are not only
helpful but also empathetic and caring, can create lasting
positive impressions.
Unexpected Rewards: Surprise customers with unexpected
rewards, discounts, or incentives. This can be done through
loyalty programs or special promotions.
Consistency: Consistently delivering a high level of quality
and service across all customer touch points contributes to
delight. Customers come to expect a certain level of
excellence from the company.
Key aspects of customer delight
Innovation: Innovating and introducing new features or
improvements to products and services can create
excitement and delight among customers.
Emotional Connection: Building an emotional connection
with customers can lead to delight. When customers feel a
genuine connection with a brand, they are more likely to be
delighted by their interactions.
Listening to Feedback: Actively listening to customer
feedback and making improvements based on their
suggestions can demonstrate a commitment to meeting their
needs and preferences.
Companies that prioritize customer delight often enjoy
higher customer retention rates, increased customer loyalty,
& positive word-of-mouth referrals.
Delighted customers are more likely to become promoters
of the brand, which can lead to organic growth and a
competitive edge in the market.
To achieve customer delight, it's essential for businesses to
not only meet but also exceed customer expectations
consistently.
This requires a customer-centric approach & a deep
understanding of the target audience's desires and pain
points. It also involves ongoing efforts to improve &
innovate in response to changing customer needs and market
dynamics.
Customer loyalty
It measure a customer's commitment to a brand, company, or
product. Loyal customers are those who consistently choose
to do business with a particular company over its
competitors & are less likely to switch to other options.
Building & maintaining customer loyalty is crucial for long-
term success & profitability
Key aspects of customer loyalty:
Repeat Purchases: Loyal customers frequently make repeat
purchases from the same company. They choose the brand's
products or services over others, often out of habit or
preference.
Long-Term Commitment: Loyal customers tend to have a
long-term commitment to a brand. They are not just one-
time buyers but continue to engage with the company over
an extended period.
Advocacy: Loyal customers often become brand advocates.
They recommend the company's products or services to
friends, family, and colleagues, helping to attract new
customers through word-of-mouth referrals.
Higher Spending: Loyal customers tend to spend more with
a company over time. They are willing to invest in premium
products or services and are less price-sensitive compared to
one-time buyers.
Reduced Churn: Customer churn refers to the rate at which
customers stop doing business with a company. Loyal
customers have a lower churn rate, which is a positive sign
for businesses.
Emotional Connection: Loyal customers often have an
emotional connection with the brand. They may feel a sense
of trust, belonging, or loyalty that goes beyond rational
considerations.
Consistency: Providing consistent quality, service, and
experiences is essential for building and maintaining
customer loyalty. Customers come to expect a certain level
of excellence from the brand.
Rewards and Loyalty Programs: Many companies use
rewards programs and loyalty incentives to encourage repeat
business. These programs offer discounts, exclusive offers,
and other perks to loyal customers.
Exceptional Customer Service: Delivering exceptional
customer service can foster loyalty. When customers feel
valued and well-treated, they are more likely to remain
loyal.
individual customer preferences can enhance loyalty.
Personalized recommendations and offers demonstrate a
commitment to meeting customers' unique needs.
Community and Engagement: Building a sense of
community around a brand can strengthen loyalty. Engaging
customers through social media, forums, and events can
create a sense of belonging.
Listening and Feedback: Actively listening to customer
feedback and making improvements based on their
suggestions can reinforce loyalty by showing that the
company cares about its customers' opinions.
Building customer loyalty requires ongoing efforts and a
customer-centric approach.
Companies should continually strive to exceed customer

expectations, engage with their audience, and adapt to
changing customer preferences and market dynamics.
Loyal customers are a valuable asset, as they not only

contribute to current revenue but also help drive future
growth through their advocacy and continued support.
Concepts of Marketers and Prospects
Marketers: Marketers are individuals or organizations
responsible for promoting and selling products or services to
potential customers. They play a crucial role in creating and
implementing marketing strategies to attract, engage, and
retain customers.
Key aspects of marketers:
a. Product/Service Development: Marketers often work
closely with product development teams to understand
customer needs and preferences, ensuring that products or
services meet market demands.
b. Segmentation: Marketers divide the target market into
segments based on demographics, psychographics, behavior,
and other criteria to tailor marketing messages and strategies
for each group.
c. Promotion: Marketers use various channels and tactics to
create awareness about their offerings, including advertising,
content marketing, social media, email marketing, and more.
d. Pricing: Marketers are responsible for setting prices that
are competitive and reflect the product's value while meeting
the company's revenue and profit goals.
e. Distribution: They decide how products or services will
be distributed to customers, whether through physical stores,
e-commerce platforms, or other distribution channels.
f. Analytics: Marketers use data and analytics to measure
the effectiveness of their marketing campaigns and make
data-driven decisions to optimize strategies.
f. Analytics: Marketers use data and analytics to measure
the effectiveness of their marketing campaigns and make
data-driven decisions to optimize strategies.
Prospects: Prospects are potential customers who have
shown interest in a product or service but have not yet made
a purchase. They are in the early stages of the buyer's
journey and can be categorized into different stages, such as:
a. Awareness Stage: Prospects become aware of a product
or service's existence but may not fully understand its
benefits or features.
b. Interest Stage: At this point, prospects show more
interest and start researching the product or service. They
may compare different options and gather information.
Prospects: Prospects are potential customers who have
shown interest in a product or service but have not yet made
a purchase. They are in the early stages of the buyer's
journey and can be categorized into different stages,
a. Awareness Stage: Prospects become aware of a product
or service's existence but may not fully understand its
benefits or features.
b. Interest Stage: At this point, prospects show more
interest and start researching the product or service. They
may compare different options and gather information.
c. Consideration Stage: Prospects are actively considering
the purchase and evaluating their options. They may seek
reviews, recommendations, and more detailed information.
d. Decision Stage: In this final stage, prospects are ready to
make a purchase decision. Marketers often use incentives,
discounts, or special offers to encourage them to convert
into customers.
e. Post-Purchase Stage: After becoming customers,
individuals move out of the prospect category. Their post-
purchase experiences, including satisfaction and loyalty, can
influence future marketing efforts.
Effective marketing involves identifying and nurturing
prospects through these stages, guiding them toward making
a purchase decision.
Marketers use various strategies, such as content

marketing, lead nurturing, and personalized messaging, to
engage with prospects and convert them into loyal
customers. Understanding the needs and preferences of
prospects and tailoring marketing efforts accordingly is
crucial for success in the competitive marketplace.
Digital markets (DM)
"Digital markets" refer to markets that primarily operate in
the digital or online realm, where goods, services, or
information are bought, sold, and exchanged using
electronic communication and technology.
Online Presence: DM exist in the virtual world, accessible
through websites, apps, and online platforms. They lack a
physical location and are not constrained by geographical
boundaries.
E-commerce: E-commerce is a significant component of
digital markets, encompassing the online buying and selling
of physical products, digital goods, and services. E-
commerce platforms like Amazon, eBay, and flipcart are
examples of digital marketplaces.
“Variety of Offerings: Digital markets can encompass a wide
range of offerings, including physical products, digital
downloads (e.g., software, e-books, music), subscriptions,
streaming services, online courses, and more.
Global Reach: One of the advantages of digital markets is
their global reach. Sellers can target customers worldwide, and
buyers can access products and services from around the
globe.
Search and Discovery: Effective search engines &
recommendation systems play a crucial role in digital markets,
helping users find products and services that match their
preferences and needs.
Payment Processing: Secure online payment processing
systems to facilitate transactions. Common payment methods
include credit cards, digital wallets (e.g., PayPal).
User Interaction: Interaction between buyers and sellers
occurs through digital means, such as messaging, reviews,
ratings, & customer feedback. These interactions help build
trust & facilitate communication.
Data and Analytics: DM collect and analyze vast amounts of
data, allowing businesses to gain insights into customer
behavior, tailor marketing efforts, and optimize their
operations.
Monetization Models: DM use various monetization models,
including transaction fees, subscription fees, advertising
revenue, and premium models that offer both free and
premium versions of products or services.
Competitive Landscape: DM can be highly competitive, with
numerous businesses and entrepreneurs entering the digital
space to reach consumers and compete for market share.
Digital markets
Regulation and Compliance: Due to their global nature,
DMs may need to navigate complex regulatory
environments, including data privacy regulations, consumer
protection laws, and tax compliance in different
jurisdictions.
Disruption and Innovation: DMs have disrupted
traditional industries and business models, fostering
innovation & creating opportunities for startups &
established companies to adapt to the digital age.
Overall, DMs have transformed the way commerce &
business are conducted, offering convenience & accessibility
to consumers while presenting challenges & opportunities
for businesses in terms of adapting to a digital-first
economy.
Brick and Click" model
Also known as the "Brick and Mortar and Click" model, is a
business strategy that combines both physical ("brick and
mortar") and online ("click") operations.
Commonly used by retailers & businesses to reach a wider
customer base & provide a more convenient shopping
experience.
Physical Presence (Brick and Mortar): This aspect
involves having physical stores or locations where
customers can visit & make purchases in person. These
physical stores offer a traditional shopping experience,
allowing customers to see and touch products before buying.
This presence helps build brand recognition and trust.
Online Presence (Click): In addition to physical stores,
businesses using the Brick & Click model also operate online
stores or e-commerce platforms. Customers can browse
products, place orders, & make payments through the website
or mobile apps. This online presence enables businesses to
reach a broader audience & cater to customers who prefer to
shop online.
Integration: Success of the Brick and Click model is the
seamless integration of the physical and online aspects of the
business.
This includes processes like inventory management, order
fulfillment, & customer support. Integration allows customers
to have a consistent experience whether they shop in-store or
online. For instance, customers can order online and pick up
the items at a nearby physical store (click and collect).
Omnichannel Experience: Businesses often aim to provide
an omnichannel shopping experience, where customers can
switch between online and offline channels effortlessly. For
example, a customer might start browsing products on the
website, visit a physical store to try them out, and then
complete the purchase online.
Data and Analytics: One advantage of the Brick & Click

model is the wealth of data that can be collected from both
online & offline interactions. This data can be used to
understand customer behavior, preferences, & trends, enabling
businesses to tailor their offerings and marketing strategies.
Adaptability: The Brick and Click model allows businesses to
adapt to changing market conditions. During times of crisis or
when external factors, such as a pandemic, limit in-store
shopping, the online channel can help maintain revenue.
Conversely, when foot traffic returns to physical stores,
businesses can leverage their existing infrastructure.
Customer Convenience: Customers benefit from the

convenience and flexibility offered by the Brick and Click
model. They can choose the shopping method that suits them
best, whether it's the immediacy of in-store shopping or the
convenience of online ordering and delivery.
Competitive Advantage: The Brick and Click model can give
businesses a competitive edge by offering a comprehensive
shopping experience that combines the strengths of both
physical and online retail. It allows them to compete with
pure-play online retailers while maintaining a physical
presence in their target markets.
Overall, the Brick and Click model reflects the evolving retail
landscape, where businesses recognize the importance of
integrating digital capabilities with their traditional physical
operations to meet the diverse needs and preferences of
modern consumers.
Impact of Globalization
Globalization has had a profound impact on marketing,
transforming the way businesses operate and market their
products or services
Expanded Market Reach: Globalization has enabled
businesses to access markets beyond their borders.
Companies can now market their products or services to a
global audience, reaching customers in diverse geographical
locations.
Increased Competition: With globalization, businesses face
more intense competition, not only from local competitors
but also from international ones. This has forced companies
to be more innovative and customer-focused in their
marketing strategies.
Cultural Sensitivity: Globalization necessitates an
understanding of diverse cultures, languages, and consumer
preferences. Effective marketing requires sensitivity to local
customs, traditions, and values to resonate with diverse
audiences.
Digital Marketing: The rise of the internet and digital
technologies has been a driving force behind globalization.
Digital marketing channels such as social media, search
engines, and online advertising have made it easier for
businesses to reach global audiences at a lower cost.
Brand Identity: Globalization has made it crucial for
businesses to maintain a consistent and recognizable brand
image across borders. A well-defined and globally appealing
brand identity is essential to attract customers worldwide.
Market Research and Data Analysis: To effectively
market globally, businesses must conduct extensive market
research and analyze data from various regions. This helps
in understanding local market trends and adapting marketing
strategies accordingly.
Localization: Global companies often engage in localization
efforts, tailoring their marketing campaigns to suit the
preferences and needs of specific regions or countries. This
can involve translating content, adjusting product offerings,
or even altering advertising strategies.
Supply Chain Considerations: Globalization impacts
supply chains, and marketing strategies must take supply
chain logistics into account. A disrupted supply chain can
affect product availability and, subsequently, marketing
Regulatory Compliance: Businesses must navigate a
complex web of international regulations and standards
related to marketing, advertising, and product labeling.
Ensuring compliance is essential to avoid legal issues and
maintain a positive brand image.
Social Responsibility: Globalization has heightened
consumer awareness of social and environmental issues.
Companies must integrate corporate social responsibility
(CSR) initiatives into their marketing strategies to resonate
with socially conscious consumers.
Communication and Messaging: Effective communication
across cultures is vital in global marketing. Businesses need
to adapt their messaging to resonate with different cultural
norms and communication styles.
Global Partnerships: Globalization has also led to
increased collaboration and partnerships between businesses
in different countries. These partnerships can impact
marketing efforts through joint campaigns and cross-
promotions.
Globalization has reshaped the field of marketing, requiring

businesses to adopt more adaptable, culturally sensitive, and
technologically driven strategies. To succeed in the global
marketplace, companies must continuously evolve their
marketing approaches to meet the demands of diverse,
interconnected audiences
Technology and Social Responsibility on Marketing.
As technology continues to advance, marketers must
navigate a complex landscape of opportunities & ethical
considerations.
Data Privacy & Security: Technology has enabled the
collection & analysis of vast amounts of customer data.
Marketers have access to personal information, which raises
concerns about data privacy & security. Ethical marketing
requires a commitment to protecting customer data & using
it responsibly.
Transparency & Trust: In the digital age, consumers
demand transparency from brands. Social responsibility
includes being honest about products, pricing, & advertising.
Technology provides tools for showcasing transparency
through social media, online reviews, & real-time
Inclusivity and Accessibility: Social responsibility involves
ensuring that marketing materials are accessible to all,
including people with disabilities. Technology can be used
to create accessible websites, apps, & content that reach a
broader audience.
Sustainability: Sustainable and environmentally
responsible practices are increasingly important in
marketing. Technology can help companies reduce their
carbon footprint through digital marketing methods, such as
email campaigns instead of printed materials, or by using
data analytics to optimize supply chain efficiency.
Consumer Empowerment: Technology has given
consumers more power to research products, compare
prices, & make informed decisions. Ethical marketing
includes respecting this empowerment and providing
accurate, unbiased information.
Misinformation and Fake News: The rapid spread of
misinformation through technology presents a challenge for
marketers. Ethical responsibility requires diligence in
verifying information before sharing it, especially on social
media platforms.
Digital Divide: Social responsibility in marketing also
involves addressing the digital divide – the gap between
those with access to technology and those without.
Companies should consider this divide when designing
marketing campaigns and ensure they don't exclude certain
demographics.
Personalization vs. Privacy: Technology enables highly
personalized marketing, but striking the right balance
between personalization and customer privacy is crucial.
Consumers may appreciate personalized recommendations,
but they also want their data protected.
Environmental Impact of Technology: The production
and disposal of technology devices can have environmental
impacts. Ethical marketers should consider these factors and
make efforts to minimize waste and promote responsible
tech consumption.
Social and Ethical Campaigns: Companies can leverage
technology and social media to support social causes and
advocate for social responsibility. This can enhance a
brand's reputation and appeal to socially conscious
consumers.
Ethical AI and Automation: As AI and automation play a
more significant role in marketing, ensuring that these
technologies are used ethically is crucial. Marketers should
avoid biased algorithms and discriminatory practices.
Ethical AI and Automation: As AI and automation play a
more significant role in marketing, ensuring that these
technologies are used ethically is crucial. Marketers should
avoid biased algorithms and discriminatory practices.
Cultural Sensitivity: Technology allows businesses to reach
global audiences, but it's essential to be culturally sensitive &
avoid offensive or inappropriate content that could harm a
brand's reputation.
Technology & social responsibility are intertwined in modern
marketing. Ethical marketers use technology as a tool to
enhance transparency, inclusivity, & sustainability while
respecting data privacy and consumer empowerment.
Embracing social responsibility in marketing is not only good
for a brand's reputation but also aligns with the values and
expectations of today's consumers.
New Consumer Capabilities
Consumers today possess a range of new capabilities &
expectations that have been shaped by technological
advancements, changes in the marketplace, & evolving
social dynamics. These capabilities have transformed the
way they interact with businesses & make purchasing
decisions.
Information Access: Consumers now have unprecedented
access to information. They can research products,
services, & companies online, read reviews, compare
prices, and gather information from multiple sources
before making a purchase decision. This has made
consumers more informed and empowered.
Online Shopping: E-commerce has revolutionized the way
consumers shop. They can browse and purchase products
from the comfort of their homes or on-the-go via
Smartphone's and other devices. Online shopping offers
convenience, a wide variety of choices, and often
competitive pricing.
Mobile Connectivity: The widespread use of Smartphone's
has made consumers constantly connected. Mobile apps and
websites have become essential tools for shopping, product
research, and communication with businesses.
Personalization: Consumers appreciate personalized
experiences. They expect businesses to use their data to offer
tailored product recommendations, personalized marketing
messages, and customized content. Personalization enhances
engagement and satisfaction.
Social Media Influence: Social media platforms have
become significant influencers in consumers' purchasing
decisions. They seek recommendations and opinions from
their social networks, making social media marketing and
influencer partnerships crucial for businesses.
Voice Assistants and AI: The rise of voice-activated
devices and artificial intelligence has introduced new ways
for consumers to interact with brands. Voice search and AI-
driven chat bots provide quick answers and assistance,
improving customer service and engagement.
Sustainability Awareness: Many consumers are now more
conscious of the environmental and social impact of their
purchases. They seek products and services from companies
that demonstrate sustainability and social responsibility.
Subscription Services: The popularity of subscription-
based models has grown significantly. Consumers
subscribe to streaming services, meal kits, clothing, and
more. These services offer convenience and a sense of
belonging.
Instant Gratification: Consumers expect fast and efficient
service. They appreciate same-day delivery options, instant
downloads, and quick responses to inquiries. Businesses
that can provide immediate value have a competitive
advantage.
Online Reviews and Ratings: Online reviews and ratings
on platforms like Yelp, Trip Advisor, and Amazon heavily
influence consumers' choices. Positive reviews build trust,
while negative ones can deter potential customers.
Cyber security Awareness: Consumers are increasingly concerned
about their data security & privacy. They expect businesses to protect
their personal information & communicate their data security
measures clearly.
Multi-Channel Engagement: Consumers interact with businesses
through multiple channels, including websites, social media, email, &
physical stores. They expect consistent and seamless experiences
across these channels.
Eco-Friendly Choices: An increasing number of consumers
prioritize eco-friendly and sustainable products. They actively seek
out brands and products that align with their environmental values.
Businesses must adapt their marketing & customer service strategies.
This often involves enhancing digital presence, embracing data-
driven personalization, ensuring transparency & ethical practices, &
staying attuned to evolving consumer preferences and concerns.
Meeting these expectations can lead to increased customer loyalty &
satisfaction in the modern marketplace.
Consumers today possess a range of new capabilities and expectations that have been
shaped by technological advancements, changes in the marketplace, and evolving social
dynamics. These capabilities have transformed the way they interact with businesses and
make purchasing decisions. Here are some key new consumer capabilities:
Information Access: Consumers now have unprecedented access to information. They can
research products, services, and companies online, read reviews, compare prices, and gather
information from multiple sources before making a purchase decision. This has made
consumers more informed and empowered.
Online Shopping: E-commerce has revolutionized the way consumers shop. They can
browse and purchase products from the comfort of their homes or on-the-go via
smartphones and other devices. Online shopping offers convenience, a wide variety of
choices, and often competitive pricing.
Mobile Connectivity: The widespread use of smartphones has made consumers constantly
connected. Mobile apps and websites have become essential tools for shopping, product
research, and communication with businesses. Consumers expect seamless mobile
experiences.
Personalization: Consumers appreciate personalized experiences. They expect businesses
to use their data to offer tailored product recommendations, personalized marketing
messages, and customized content. Personalization enhances engagement and satisfaction.
Social Media Influence: Social media platforms have become significant influencers in
consumers' purchasing decisions. They seek recommendations and opinions from their
social networks, making social media marketing and influencer partnerships crucial for
businesses.
New Company Capabilities
To discuss new company capabilities, it would be helpful
to know more about your specific company, industry, and
goals.
Product or Service Expansion: Launching new products
or services that complement your existing offerings.
Diversifying your product or service portfolio to reach a
wider customer base.
Technology Adoption: Embracing new technologies like
artificial intelligence, block chain, or Iota to enhance
operations or customer experiences. Developing
proprietary software or tools to improve efficiency.
Market Expansion: Entering new geographic markets,
either domestically or internationally. Targeting new
customer segments or industries.
Strategic Partnerships: Collaborating with other
businesses to combine strengths and access new markets or
capabilities.
Research and Development: Investing in R&D to create
innovative solutions or improve existing products.
Developing intellectual property, such as patents or
proprietary technology.
Supply Chain Optimization: Streamlining the supply chain
to reduce costs, improve quality, or enhance sustainability.
Exploring new sourcing options or logistics strategies.
Human Resources and Talent Development: Recruiting
and training employees with skills aligned with your new
capabilities. Fostering a culture of innovation and
continuous learning.
Customer Experience Enhancements: Improving customer
service through new communication channels or self-service
options. Personalizing offerings based on customer data and
preferences.
Sustainability Initiatives: Implementing environmentally
friendly practices or developing eco-friendly products.
Meeting regulatory requirements and consumer demands for
sustainability.
Data Analytics and Insights: Leveraging data analytics to
gain insights into customer behavior and market trends. Using
predictive analytics to make informed business decisions.
Financial Management: Raising capital or seeking
investment to fund growth initiatives. Managing finances
effectively to support expansion without overextending
resources.
Financial Management: Raising capital or seeking
investment to fund growth initiatives. Managing finances
effectively to support expansion without overextending
resources.
Cyber security and Risk Management: Strengthening
cyber security measures to protect against evolving threats.
Developing risk management strategies to navigate
uncertainties.
Marketing and Branding: Rebranding or refreshing
your company's image to align with new capabilities.
Using digital marketing and social media to reach a wider
audience.
Regulatory Compliance: Ensuring compliance with
changing industry regulations and standards. Staying
informed about legal and ethical considerations in your
field.
Customer Feedback and Iteration: Actively seeking

customer feedback to refine products or services.
These are just some examples of how companies can

develop new capabilities. The specific strategies you
choose should align with your company's goals, industry
trends, and market opportunities.
Functions of Marketing Manager.
A Marketing Manager plays a crucial role in developing &
executing marketing strategies to promote a company's products
or services & achieve its business objectives.
Market Research: Conducting research to understand customer
needs, market trends, & competitor activities. This involves
gathering data and insights to inform marketing strategies.
Strategic Planning: Developing marketing strategies and plans
that align with the company's overall goals. This includes setting
objectives, defining target audiences, & outlining tactics to
achieve marketing goals.
Product Development and Positioning: Collaborating with
product teams to ensure that products or services meet customer
needs. Deciding on the positioning and differentiation strategy to
make the product stand out in the market.
Advertising and Promotion: Creating and managing
advertising campaigns across various channels, such as
digital, print, TV, radio, and social media. This also includes
managing the budget for advertising and promotions.
Digital Marketing: Overseeing digital marketing efforts,
which may include search engine optimization (SEO),
content marketing, social media marketing, email marketing,
and online advertising.
Public Relations: Building and maintaining relationships
with the media and other stakeholders to enhance the
company's image and manage crises effectively.
Brand Management: Developing and maintaining a
consistent and strong brand identity, including logos,
slogans, and brand guidelines.
Market Segmentation: Identifying and segmenting the
target market to tailor marketing efforts and messages to
specific customer groups.
Budget Management: Managing the marketing budget
efficiently, allocating resources to various marketing
activities and campaigns while ensuring cost-effectiveness.
Data Analysis: Analyzing marketing data and metrics to
measure the effectiveness of campaigns and strategies.
Adjusting tactics based on performance data.
Team Management: Leading and mentoring a team of
marketing professionals, including hiring, training, and
performance evaluation.
Vendor and Agency Management: Collaborating with
external agencies, freelancers, and vendors for services such
as advertising, design, and content creation.
Market Expansion: Exploring opportunities for
expanding the company's market reach, which may include
entering new geographical regions or targeting new
customer segments.
Compliance: Ensuring that marketing activities comply
with industry regulations and ethical standards.
Customer Relationship Management (CRM): Utilizing
CRM systems to track and manage customer interactions
and gather insights for better customer engagement.
Monitoring Competitive Landscape: Keeping an eye on
competitors' activities and adjusting marketing strategies
accordingly.
Reporting: Providing regular reports and updates on
marketing performance to senior management or
stakeholders.
Innovation: Staying updated with emerging marketing
trends, tools, and technologies and integrating them into
marketing strategies when appropriate.
Marketing Managers are integral to an organization's
success, as they are responsible for effectively promoting
products or services and influencing customer behavior to
drive revenue and growth.
Their ability to adapt to changing market dynamics and
make data-driven decisions is critical in today's competitive
business environment.
Linkage of Marketing Function with All Functions in the Organization
The marketing function within an organization is closely linked to
all other functions and departments. Successful marketing requires
coordination, communication, and integration with various aspects
of the business to ensure that the company's products or services
meet customer needs and achieve its overall objectives. Here's how
marketing is linked to different functions within an organization:
Product Development: Marketing teams often work closely with
product development teams to understand market trends, customer
needs, and competitive landscapes. They provide valuable insights
that guide the creation of products or services that are more likely to
succeed in the market.
Sales: Marketing and sales are interconnected. Marketing generates
leads and creates awareness, while sales teams convert those leads
into customers. Regular communication between these two functions
ensures alignment in strategies and messaging.
Finance: Marketing budgets are managed by the finance department.
Financial teams evaluate the return on investment (ROI) for marketing
campaigns, allocate funds, and ensure that marketing activities are
cost-effective and contribute to the organization's financial goals.
Operations/Supply Chain: Marketing decisions impact production
and distribution. For instance, if marketing campaigns generate a surge
in demand, operations and supply chain teams need to adjust
production and logistics accordingly to meet customer expectations.
Human Resources: HR plays a role in hiring and training marketing
personnel, ensuring that they have the necessary skills and expertise.
HR also helps in fostering a company culture that aligns with the
marketing message and values.
Customer Service: Marketing's promises must align with the
customer experience. Customer service teams need to be aware of
marketing campaigns and messaging to ensure consistency in
addressing customer inquiries and concerns.
IT/Technology: Marketing relies heavily on data analytics and
digital platforms. IT departments provide the necessary technology
infrastructure and support for marketing initiatives, including
websites, customer relationship management (CRM) systems, and
data analytics tools.
Legal and Compliance: Marketing materials, campaigns, and
advertisements need to comply with legal and regulatory
requirements. The legal department reviews marketing materials to
ensure they meet these standards and mitigate legal risks.
Research and Development: R&D teams may collaborate with
marketing to gather customer feedback and market insights, which
can inform product improvements and innovations.
Strategic Planning: Marketing plays a critical role in the strategic
planning process. Market research and analysis contribute to setting
organizational goals and strategies for growth.
message to customers.
Executive Leadership: The C-suite and top leadership need to be
involved in and supportive of marketing strategies and decisions. They
provide direction and allocate resources to support marketing
initiatives.
Public Relations: Marketing and PR teams often work together to
manage the company's public image and reputation, especially during
product launches or crisis management situations.
Quality Assurance: Ensuring that products or services meet quality
standards is essential for marketing credibility. Quality assurance
teams work to maintain and improve product quality, which impacts
marketing efforts.
Effective communication and collaboration among these functions are
crucial to ensure that marketing efforts are integrated into the overall
business strategy and aligned with the organization's goals and values.
When these functions work together harmoniously, the organization is
better equipped to respond to market changes and deliver a consistent
and compelling message to customers.
Company Orientation Toward the Marketplace
A company's orientation toward the marketplace refers to its
strategic approach or philosophy when it comes to interacting with
and serving customers, competitors, and the broader business
environment. This orientation is a fundamental aspect of a
company's overall business strategy and has a significant impact on
its success and competitiveness. There are typically five main
orientations that a company can adopt, and they can be categorized
as follows:
Production Orientation:
Focus: Efficient production and cost minimization.
Philosophy: Companies with a production orientation prioritize
producing high-quality products at low costs.
Strategy: They often believe that consumers will prefer products
that are widely available and affordable.
Example: Henry Ford's Model T assembly line production
exemplified this approach.
A company's orientation toward the marketplace refers to its
strategic approach or philosophy when it comes to interacting with
and serving customers, competitors, and the broader business
environment. This orientation is a fundamental aspect of a
company's overall business strategy and has a significant impact on
its success and competitiveness. There are typically five main
orientations that a company can adopt, and they can be categorized
as follows:
Production Orientation:
Focus: Efficient production and cost minimization.
Philosophy: Companies with a production orientation prioritize
producing high-quality products at low costs.
Strategy: They often believe that consumers will prefer products
that are widely available and affordable.
Example: Henry Ford's Model T assembly line production
exemplified this approach.
Product Orientation:
Product Orientation:
Focus: Developing and improving products.
Philosophy: Companies with a product orientation emphasize
innovation and product quality.
Strategy: They believe that consumers will choose products with
the best features and performance.
Example: Apple is known for its product-oriented approach with a
focus on design and innovation.
Sales Orientation:
Focus: Aggressive sales and marketing efforts.
Philosophy: Companies with a sales orientation prioritize selling
products aggressively and often employ high-pressure sales tactics.
Strategy: They aim to convince customers to buy their products
through promotions, advertising, and salesmanship.
Example: Some direct sales companies and telemarketing firms
embody this orientation.
Market Orientation:
Focus: Customer needs and market dynamics.
Philosophy: Companies with a market orientation place the
customer at the center of their business strategy.
Strategy: They actively gather market intelligence, conduct
market research, and adapt their products and services to meet
customer needs.
Example: Procter & Gamble is known for its strong market
orientation, constantly researching consumer preferences.
Societal Orientation:
Focus: Social and environmental responsibility.
Philosophy: Companies with a societal orientation prioritize their
social and environmental impact.
Strategy: They integrate sustainability and social responsibility
into their business practices.
Example: Patagonia, a clothing company known for its
environmental initiatives, is an example of a societal orientation.
It's important to note that a company's orientation can change over
time as it responds to shifts in the market, consumer preferences, and
societal values. Successful companies often blend elements of
different orientations to create a unique approach that suits their
specific industry and target audience.
Ultimately, the choice of orientation depends on a company's goals,
resources, and the competitive landscape. An effective marketplace
orientation aligns a company's efforts with the needs and wants of its
customers, helping it thrive in a dynamic and competitive business
environment.
Holistic Marketing Orientation (HMO)
HMO Focuses on the entire marketing ecosystem and views it as a
complex & interconnected system. This orientation takes into
consideration not only the traditional marketing mix (product, price,
place, and promotion) but also other factors that influence a
company's success in the marketplace.
Customer-Centric Approach: Holistic marketing starts with a deep
understanding of customer needs, preferences, and behaviors. It
emphasizes building strong, long-term relationships with customers
by delivering value beyond just products or services. This involves
listening to customer feedback and using it to improve offerings
continually.
Integrated Marketing: It recognizes that all marketing efforts should
work together seamlessly to deliver a consistent message and
experience to customers. This includes aligning online and offline
marketing channels, such as social media, email, advertising, and
public relations, to create a unified brand image.
Holistic Marketing Orientation
Internal Marketing: Companies adopting a holistic approach
understand that employees are essential stakeholders in the
marketing process. They ensure that employees are aligned with
the company's values and goals and can deliver a consistent
brand experience to customers.
Relationship Marketing: Building and maintaining strong
relationships with customers, suppliers, and other stakeholders is
a central aspect of holistic marketing. This can lead to increased
customer loyalty, repeat business, and word-of-mouth referrals.
Societal Marketing: Beyond profit generation, holistic
marketing also considers a company's impact on society & the
environment. It involves ethical and socially responsible
business practices, which can enhance a company's reputation &
appeal to socially conscious consumers.
Performance Measurement: Holistic marketing uses a variety of
metrics to evaluate marketing effectiveness. These metrics may
include not only financial indicators like return on investment (ROI)
but also customer satisfaction, brand reputation, and social and
environmental impact.
Adaptability and Innovation: This orientation recognizes that the
marketplace is dynamic, and companies need to adapt to changing
conditions and innovate continuously. It encourages a culture of
creativity and adaptability within the organization.
Long-Term Perspective: Holistic marketing takes a long-term view
rather than focusing solely on short-term gains. It aims to build
enduring customer relationships and a sustainable business model.
Market Research & Analysis: Companies practicing holistic
marketing invest in thorough market research and analysis to
understand market trends, competitive dynamics, and emerging
opportunities. This knowledge helps them make informed decisions &
stay ahead of the competition.
Brand Building: Holistic marketing places a strong
emphasis on building a brand that resonates with customers'
values and emotions. A well-crafted brand can create
loyalty and trust, making customers more likely to choose a
company's products or services over competitors'.
In summary, a holistic marketing orientation emphasizes a

comprehensive and interconnected approach to marketing
that goes beyond the traditional 4Ps (product, price, place,
and promotion). It considers the customer, internal
processes, societal impact, and long-term sustainability, all
of which contribute to a company's success in the
marketplace.
Selling versus Marketing
Selling and marketing are related but distinct activities within the
broader field of business and commerce. They both play crucial roles
in promoting and generating revenue for a company, but they have
different focuses and approaches. Here's a breakdown of the key
differences between selling and marketing:
1. Focus and Goal:
Selling: Selling is primarily focused on the transaction itself. The
primary goal of selling is to convince a customer to purchase a
specific product or service. It is a short-term, tactical activity aimed at
closing deals and generating immediate revenue.
Marketing: Marketing, on the other hand, is a more comprehensive
and long-term approach. Its primary goal is to create and maintain
customer relationships, build brand awareness, and drive customer
satisfaction. Marketing encompasses various activities that support
the entire customer journey, from awareness and interest to
consideration and purchase.
2. Timing:
Selling: Selling typically occurs after a product or service has been
developed and is ready for sale. It involves direct interactions with
potential customers and is often associated with the final stages of the
sales funnel.
Marketing: Marketing activities begin long before the product or
service is available for sale. Marketing encompasses market research,
product development, pricing strategies, advertising, promotion, and
distribution. It is an ongoing process that starts before the product's
creation and continues throughout its lifecycle.
3. Approach:
Selling: Selling involves one-on-one or one-on-few interactions
between sales representatives or teams and potential customers. It
focuses on addressing the specific needs and objections of individual
customers and closing deals through persuasion and negotiation.
Marketing: Marketing employs a broader, more strategic approach. It
uses various channels and tactics to reach a larger audience, raise
awareness, educate customers, and build interest in a product or
service. Marketing aims to create demand and make the product or
service attractive to a wide range of potential customers.
4. Scope:
Selling: Selling is a subset of marketing. It is one of the components
of the marketing process, specifically dealing with the final step of
converting leads into customers.
Marketing: Marketing encompasses a wide range of activities
beyond selling, including market research, product development,
pricing, advertising, branding, public relations, content creation, and
customer relationship management.
5. Customer Interaction:
Selling: Selling involves direct, personal interactions
between the salesperson and the customer. It often requires
the salesperson to address specific customer objections and
provide tailored solutions.
Marketing: Marketing engages customers through various
channels, including advertising, content marketing, social
media, and email campaigns. Marketing aims to create a
favorable impression of the product or brand and build a
relationship with a broader audience.
Selling and marketing are closely related and both
contribute to a company's success, they serve different
purposes and operate at different stages of the customer
journey.
Selling is a more transactional and immediate activity,
while marketing is a broader, long-term strategy that
encompasses all aspects of promoting and delivering
products or services to customers.
An effective business strategy often combines both selling
and marketing to maximize revenue and customer
satisfaction.
.
Concept of Marketing Myopia
Marketing Myopia is a concept that was introduced by Theodore
Levitt in a Harvard Business Review article titled "Marketing
Myopia" in 1960. This concept challenges businesses to adopt a more
customer-centric approach & avoid becoming too narrowly focused
on their existing products and industries. It suggests that companies
often fail not because of a lack of technical innovation but because of
a lack of imagination and customer-centric thinking.
Shortsighted Focus: Marketing Myopia is the tendency of businesses
to focus on their own products and industry rather than on the broader
needs and wants of their customers. This shortsightedness can lead
companies to miss out on opportunities for growth and innovation.
Industry vs. Customer Orientation: Levitt argued that companies
should define themselves in terms of the benefits they provide to
customers rather than the products they sell. He believed that
businesses should be customer-oriented rather than industry-oriented.
For example, a railroad company should see itself as a provider of
transportation services, not just as a railroad company.
Understanding Customer Needs: Companies should continuously
strive to understand their customers' evolving needs and preferences.
This requires ongoing market research and a willingness to adapt to
changing customer demands. Failure to do so can result in market
decline.
Expansive Thinking: Marketing Myopia encourages companies to
think expansively about their industry and potential opportunities for
growth. For example, the rise of the automobile industry posed a
significant challenge to the railroad industry, as it offered an
alternative means of transportation. Companies should be open to
exploring adjacent markets and new ways of meeting customer needs.
Long-Term Perspective: Businesses that submit to marketing
myopia often prioritize short-term profit over long-term
sustainability. Levitt argued that companies should adopt a long-term
perspective and focus on building enduring customer relationships
and delivering value over time.
Continuous Innovation: To avoid marketing myopia, companies
should be willing to innovate & adapt to changing market conditions.
This may involve developing new products and services, exploring
new distribution channels, or repositioning the company's brand.
Marketing as a Philosophy: Marketing Myopia goes beyond
marketing as a functional department within an organization. It
promotes the idea that marketing should be a guiding philosophy that
permeates the entire organization, influencing strategic decisions &
company culture.
Marketing Myopia is a concept that highlights the dangers of a
company becoming too inwardly focused and industry-centric, to the
detriment of its long-term success. It emphasizes the importance of
understanding & meeting customer needs, thinking expansively about
opportunities, & adopting a customer-centric, long-term approach to
business. By embracing these principles, companies can avoid the
pitfalls of marketing myopia & position themselves for sustained
growth and innovation.
Marketing Process
The marketing process is a systematic approach that organizations use
to identify, create, communicate, deliver, and capture value for their
products or services in the marketplace. It involves a series of
interconnected steps & activities aimed at satisfying customer needs,
building brand awareness, & ultimately driving sales & profitability.
Here are the key stages of the marketing process:
Market Research and Analysis:
Market Segmentation: Divide the market into distinct groups of
customers based on common characteristics and needs.
Market Research: Collect data and insights about customer
preferences, behaviors, and market trends.
Competitor Analysis: Evaluate the strengths and weaknesses of
competitors in the industry.
Product Development and Design:
Product/Service Concept: Define the idea for a new product or
service that meets the needs of the target market.
Marketing Process
Product Development: Create and design the product or service,
considering features, quality, and pricing.
Product Testing: Ensure the product meets quality standards and
customer expectations.
Marketing Strategy and Planning:
Marketing Objectives: Set clear and specific goals for the
marketing efforts.
Target Audience: Define the ideal customer segments that the
marketing campaign will target.
Positioning: Determine how the product or service will be
positioned in the minds of consumers.
Marketing Mix (4Ps): Develop strategies for product, price,
place (distribution), and promotion.
Implementation:
Product Launch: Introduce the product or service to the market.
Distribution: Ensure the product is available where and when
customers want it.
Marketing Process
Promotion: Execute advertising, sales promotions, public
relations, and other marketing tactics.
Monitoring and Control:
Performance Measurement: Track key performance indicators
(KPIs) to assess the success of marketing efforts.
Feedback and Adjustment: Use data and feedback to make
adjustments to the marketing strategy as needed.
Customer Relationship Management (CRM):
Customer Retention: Build and maintain strong relationships
with existing customers to encourage repeat business.
Customer Feedback: Gather feedback from customers to
improve products and services.
Expansion and Innovation:
Market Expansion: Explore opportunities to enter new markets
or expand the product/service offerings.
Innovation: Continuously innovate and adapt to changing
customer needs and market dynamics.
Marketing Process
Market Analysis and Research (Ongoing):
Stay informed about market trends, competitor activities, and
consumer preferences to adapt the marketing strategy as
necessary.
The marketing process is a dynamic and continuous cycle, where
organizations constantly refine their strategies based on market
feedback and changing conditions. Effective marketing is essential
for building brand loyalty, increasing sales, and ensuring long-term
business success.
Understanding Marketing as Creating, Communicating,
and Delivering Value
Understanding marketing as creating, communicating, and delivering
value is a fundamental concept in modern marketing theory and
practice. This perspective emphasizes that successful marketing is
not just about selling products or services but also about meeting the
needs and wants of customers in a way that provides them with
value.
Creating Value: At the core of marketing is the idea of creating

value for customers. This means developing products or services that
address specific customer needs or problems. Creating value involves
understanding your target audience, conducting market research, and
designing offerings that cater to their preferences and requirements.
The goal is to provide something that customers perceive as valuable
and beneficial. goals.
Understanding Marketing as Creating,Communicating,
Communicating Value: Once you've created value, the next step is
to effectively communicate it to your target audience. This involves
marketing and promotional activities that inform potential customers
about the features, benefits, and advantages of your products or
services. Effective communication helps customers understand why
your offerings are better or more suitable than alternatives in the
market.
Advertising: Using various media channels to reach your target
audience and convey your value proposition.
Content Marketing: Creating valuable and relevant content to
educate and engage your audience.
Public Relations: Managing your brand's image and reputation to
build trust.
Social Media Marketing: Leveraging social platforms to interact
with customers and showcase your value.
Delivering Value: Delivering value refers to the process of ensuring
that customers receive what was promised and that their expectations
are met or exceeded. This encompasses various aspects of the
customer experience, including product quality, pricing, distribution,
and customer service. Providing a seamless and positive experience
throughout the customer journey is crucial for retaining customers
and building long-term relationships.
Product Quality: Ensuring that your products or services meet or
exceed customer expectations.
Pricing Strategy: Setting prices that align with the perceived
value of your offerings.
Distribution Channels: Making your products or services easily
accessible to customers through appropriate channels.
Customer Service: Offering responsive and helpful support to
address customer inquiries and concerns.
In summary, marketing as creating, communicating, and delivering
value is a customer-centric approach that places the customer's needs
and satisfaction at the center of all marketing activities. By
understanding and meeting customer needs and consistently
delivering value, businesses can build strong relationships with their
customers, drive sales, and achieve long-term success in the
marketplace. This perspective is foundational in contemporary
marketing strategies and guides businesses in their efforts to connect
with their target audience and achieve their goals.

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Semester – I 105 – Basics of Marketing (3 Credits)

Compulsory Generic Core Course

CO105.6 CREATING GENERATE alternative approaches to the emerging

1. Marketing Management, Philip Kotler, Kevin Lane

2. Marketing Management, Rajan Saxena, TMGH

3. Marketing, Lamb, Hair, Sharma, McDaniel, Cengage

1. Principles of Marketing, Philip Kotler, Gary Armstrong,

2. Marketing Management- Text and Cases, Tapan K

3. Marketing Management, Ramaswamy & Namakumari,

“Marketing is the process of planning and executing the

Effective marketing puts the

Marketing is the process of creating, promoting, and

CRM Sales Promotion Advertising P.R.

Transporting Market Research Merchandising Publicity

• Marketing is a multifaceted business function that

The Exchange Process

Goods, services, benefits

Money, exchange of goods

Consumers Costs & Benefits Organisations

To quote Adam Smith in his famous text ‘ The wealth of

Needs Products/ Value

The scope of marketing continues to expand as technology

Wants: Wants are specific desires or preferences beyond

Demands: Demands arise when wants are supported by

Value Proposition: A value proposition is a statement that articulates

Customer value is a central concept in marketing and

By consistently providing value and fostering strong

Exchange is the cornerstone of economic activity, and it

Companies should continually strive to exceed customer

Loyal customers are a valuable asset, as they not only

Marketers use various strategies, such as content

Data and Analytics: One advantage of the Brick & Click

Customer Convenience: Customers benefit from the

Globalization has reshaped the field of marketing, requiring

Customer Feedback and Iteration: Actively seeking

These are just some examples of how companies can

In summary, a holistic marketing orientation emphasizes a

Creating Value: At the core of marketing is the idea of creating

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