The Scope of Marketing

• Marketing: typically seen as the task of creating, promoting, and delivering goods and services to consumers and businesses.

Demand States and Marketing Tasks

• 1. Negative demand A major part of the market dislikes the product and

may even pay a price to avoid it—vaccinations, dental work, and gallbladder operations, for instance.

Employers have a negative demand for ex-convicts and alcoholics as employees.

The marketing task is to analyze why the market dislikes the product and whether a marketing program consisting of product redesign, lower prices, and more positive promotion can change beliefs and attitudes.

Demand States and Marketing Tasks cont...

• 2. No demand Target consumers may be unaware of or

uninterested in the product. Farmers may not be interested in a new farming method, and college students may not be interested in foreign-language courses.

The marketing task is to find ways to connect the benefits of the product with people’s natural needs and interests.

The Scope of Marketing cont...• Places• Properties• Organizations• Goods• Services• Experiences• Information• Ideas• Events• Persons

The DecisionsMarketers Make

• Consumer Markets• Business Markets• Global Markets• Nonprofit and Governmental Market

Marketing Conceptsand Tools

• Defining Marketing management

• Core Marketing Concepts Target Markets and Segmentation

Marketing Conceptsand Tools cont...

Marketing Conceptsand Tools cont...

• Marketplace, Marketspace, and Metamarket• Marketers and Prospects• Needs, Wants, and Demands• Product, Offering, and Brand• Value and Satisfaction• Customer value triadValue = Benefits / Costs = (Functional benefits +

Emotional benefits) /(Monetary costs + Time costs + Energy costs +Psychic costs)

• Exchange and Transactions

Marketing Conceptsand Tools cont...

• Relationships and Networks• Relationship marketing• Marketing network• Marketing Channels• Supply Chain

Marketing Conceptsand Tools cont...

• CompetitionBrand competition Industry competition Form competition Generic competition• Marketing environment Task environment Broad environment• Marketing Program Marketing program Marketing mix

Role of Marketing department in anorganization

• ASSIGNMENT-1

Company OrientationsToward the Marketplace

• Production Concept• Product concept• Selling Concept• Marketing Concept

Company OrientationsToward the Marketplace cont...

• Target Market• Customer NeedsStated needs Real needs Unstated needs Delight needs Secret need

Company OrientationsToward the Marketplace cont...

• Integrated Marketing External marketing Internal marketing

Company OrientationsToward the Marketplace cont...

• Profitability Sales decline Slow growthChanging buying patterns Increasing competition Increasing marketing expenditures

Company OrientationsToward the Marketplace cont...

• Societal Marketing Concept Cause-related marketing

Trends & Changingnature of marketing

• Customers• Brand manufacturers• Store-based retailers

Trends & Changingnature of marketing

• Company responses and adjustments Reengineering Outsourcing Partner-suppliersMarket-centered E-commerce Benchmarking AlliancesGlobal and local Decentralized

Trends & Changingnature of marketing

• Marketer Responses and Adjustments Customer relationship marketing Integrated marketing communicationsCustomer lifetime value Customer share Target marketing Customization Customer databaseChannels as partners Every employee a marketer Model-based decision making

Gathering information & analyzing macro environment

• Marketing information system: People and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.

The Components of a ModernMarketing Information System

• What decisions do you regularly make?• What information do you need to make

these decisions?• What information do you regularly get?• What special studies do you periodically

request?

The Components of a ModernMarketing Information System cont...• What information would you want that you are not

getting now?• What information would you want daily? Weekly?

Monthly? Yearly?• What magazines and trade reports would you like to

see on a regular basis?• What topics would you like to be kept informed of?• What data analysis programs would you want?• What are the most helpful improvements that could

be made in the present marketing information system?

MIS

• Assessing Information needs• Developing needed information (Internal databases,

Marketing intelligence, Marketing research)• Analyzing and using information(For Decision making—

eg. CRM, distribution of marketing information)

• Decision makers--Marketing managers and other information users

• Marketing environment---(Target markets, Marketing channels, Competitors, Public, Macroenvironment forces)

Internal Record Systems

• The Order-to-Payment Cycle• Sales Information Systems• Databases, Data Warehouses And Data-

Mining