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Nature, Scope and basics of Marketing

What is Marketing?
Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

What is Marketing ? Marketing is a process by which individual and groups obtain what they need and want through creating, offering, And freely exchanging Product and services Of value with others

and communicating superior customer value. and growing customers through creating. . delivering. keeping.What is Marketing Management? Marketing management is the art and science of choosing target markets and getting.

The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally.´ Peter Drucker . marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available. But the aim of marketing is to make selling superfluous.Selling is only the tip of the iceberg ³There will always be a need for some selling.

What is Marketed? Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas .

A Simple Marketing System .

Demand States Negative Nonexistent Latent Declining Irregular Full Overfull Unwholesome .

Market ‡ Market is a physical place where buyers and sellers gathered to buy and sell goods ‡ It is the collection of buyers and sellers who transact over a particular product or product class .

closely related ‡ Metamediaries .‡ Market place ± physical place like shop ‡ Market space ± digital space like portal ‡ Meta market ± cluster of complimentary products and services.

Key Customer Markets Consumer Markets Global Markets Business Markets Nonprofit/ Government Markets .

Good Marketing is No Accident The roaring success of four-wheeler Tata Ace. in a market earlier dominated by three-wheeler load carriers. was due to a deep understanding of the market needs and customer requirements. .

need directed to specific goal ‡ Demands ± wants + ability to pay .Core marketing concepts ‡ Needs ± basic human requirements ‡ Wants -.

‡ ‡ ‡ ‡ ‡ State needs (Inexpensive car) Real needs (low operating costs) Unstated needs (good services) Delight needs (cutesy of dealer) Secret needs (see him as a savvy consumer ) .

greatest opportunistic ‡ Positioning ± in mind of consumer ‡ Segmentation -.‡ Target markets --. set of benefits offered ‡ Brands ± offering from known source ‡ Value ± sum of the perceived tangible and intangible benefits and cost to customer ‡ Satisfaction ± person¶s judgments of products perceived performance in relationship to expectation .dividing market in different segments ‡ Offering± value proposition.

‡ Marketing channels ‡ Communication ‡ Distribution ‡ Service ‡ Supply chain ‡ Competition ‡ Marketing environment .

The new marketing realities .

Company Orientations Production Product Selling Marketing .

If we can built a better product . .Company Orientations Towards the Marketplace Production Era Get out production. cut the price. the world will beat a path to our door.

status. not drills! ‡ Fashion. but not coats! . and warmth.The Marketing Myopia Marketers should NEVER sell products to consumers! ‡ People buy holes. reference groups approval.

Company Orientations Towards the Marketplace Selling Concept Era Get the customers to the fit the company¶s offering. .

Marketing Concept The marketing concept is the idea that an organization should strive to satisfy the needs of consumers. . while also trying to achieve the organization¶s goals.

TO SERVE WE ARE NOT SATISFIED UNTIL YOU ARE .Marketing Concept WE MAKE IT HAPPEN FOR YOU HAVE IT YOUR WAY TO FLY.

Marketing and Sales Concepts Contrasted .

Traditional Organization Chart Top Management Middle Management Front-line people Customers .

Customer-Oriented Organization Chart Customers Front-line people Middle management Top management .

processes and activities that recognizes there breadth and interdependencies ‡ It recognizes that ³Every thing matters´ . design.The holistic marketing concept ‡ It is based on the development. and implementation of marketing programs.

Holistic Marketing Dimensions .

.Micromarketing Micromarketing is how an individual organization directs its marketing activities and allocates its resources to benefit its customers.

Micromarketing Micromarketing is how an individual organization directs its marketing activities and allocates its resources to benefit its customers. .

legal.Performance marketing ‡ Financial accountability ‡ Social responsibility marketing ‡ Ethical. environmental effects . social.

.Societal Marketing Concept The societal marketing concept is the view that an organization should discover and satisfy the needs of its consumer in a way that also provides for society¶s well-being.

Marketing management tasks ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Developing marketing strategies and plans Capturing marketing insights Connecting with customers Building strong brands Shaping the market offerings Delivering value Communicating value Creating long term growth .

The Four P¶s .

Nature of Marketing ‡ Marketing activities ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Buying Selling Transporting Storing Financing Researching Risk taking Grading/valuing ‡ Cost of marketing .

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