Concepts of Marketing
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Transcript of Concepts of Marketing
MarketingManagement
Why do we need to learn marketing management?
Can you market these products easily ?
How about these products?
Is there any difference in types of these products?
How about Marketing them?
How about their films ?
How about the products they endorse ?
Why do we need to market…………..?
Singapore Malaysia Sydney
ParisBeijingMumbai
How about these………?
Learning Process of Marketing Facilitate Marketing of
Products PersonsServicesPlaces……..……..
Let us know more about marketing Process
There are 10 offerings which can be marketed
Can you name them?
Goods orProducts
Services
Experiences
Events
Properties
Organizations
information
ideas
PERSONS
PLACES
MARKETING
PLACES
PERSONSGOODS
SERVICES
EXPERIENCES
EVENTS
PROPERTIES
ORGANISATIONS
INFORMATION
IDEAS
In group of 3 write 5 examples of each of these offerings
These can be marketed if there is a demand for them ?
What is Demand?
DEMANDSTATES
DEMANDSTATES
NEGATIVEDEMAND
NODEMAND
LATENTDEMAND
DECLININGDEMAND
Unwholesomedemand
OVERFULLDEMAND
FULLDEMAND
IRREGULARDEMAND
We need some market to create a demand
Types ofMarkets
Business
Consumer
Nonprofit/Government
Global
Can we apply the same marketing process to these markets ?
Target Marketsand
Segmentation
Marketers &Prospects
Products orOffering
Competition
Marketing Concepts
Needs, Wants &Demand
MarketingMixSupply Chain
Marketing Concepts
Marketing Environment
Value andSatisfaction
Relationship &Network
Exchange & Transactions
MarketingChannels
Marketing Concepts
MARKETINGMIX
PRODUCT
VarietyQualityDesignFeaturesBrandPackingSizesServicesWarrantiesReturns
PRICE
List priceDiscountsAllowancesP. PeriodCredit terms
PROMOTION
SalesAdvertisingSales forceP.R,SDirect mktg
PLACE
ChannelsCoverageLocationsInventoryTransport
Four P,s Four C,s
PRODUCT
PRICE
PLACE
PROMOTION
Customer Solutions
Customer Cost
Customer Convenience
Comm with Customer
What should a manufacturer does to strengthen 4 C’sfor each of 4 P’s in case of
CompetingConcepts
Production
product
Selling
Marketing SocietalMarketing
Production Concept
Concentrate on achieving high production efficiency, low cost & mass distribution
Consumers prefers inexpensive items in Developing countries
Used also in expanding Market
Over Populated Counties-
Inexpensive Toys, electronics
Product Concept
Consumers Favors quality, performance or innovative features
Managers focus on producing superior Products
Little or No Customer Input
Rarely Examine Competitor's Product
Management commit Better-mousetrap
Leads to marketing Myopia
HMT Watches
What is Marketing –myopia?
•Ignoring The Demand ,Taste, Liking of Consumers
•Looking Into Mirror than looking out
•Colored and crooked perception of marketing
•Short sightedness about business
•Obsession with the product
•Inadequate understanding of market
Selling Concept
Consumers & businesses if left alone, will not buy enough
Undertake aggressive Selling & Promotion
Consumers shows buying inertia until coaxed
Many use it at the time of over capacity or Competition
CONSUMER DURABLES
Marketing Concept
More effective than competitors in creating, Delivering, and communicating superior customer Value
Putting People First
Fulfilling Buyers Needs
Factory ProductsSelling &Promotion
Profit throughSalesVolume
Start focus means ends
Target
market Customerneeds
Integratedmarketing
ProfitThroughCustomersatisfaction
(
SellingConcept
SellingConcept
Customer Concept
Starting Focus Means EndsPoint
Individualcustomer
Needs &
values
One To OneMktg
Integration
Growth through
CustomerShare/Loyalty
Lifetime/ Value
TM
MM
FRONT LINEPEOPLE
CUSTOMERS
CUSTOMERS
FRONT LINEPEOPLE
MM
TM
TraditionalOrganisational
chart
ModernOrganisational
chart
Factors leading to Marketing Concept
Sales decline
Slow growth
Changing buying patterns
Increasing competition
Increasing marketing expenditure
Societal Concept
•Environment deterioration•Resource Shortages•Population Growth•Unhealthy Food
To determine the needs, wants and interest of the Target Market and deliver the desired Satisfaction that preserves the society's well being
Marketing &
Other Functions
A) Marketing as an Equal Function
PRODUCTION FINANCE
MARKETING HUMAN RESOURCE
B) MARKETING As a most Important Function
PRODUCTION FINANCE
HUMAN RESOURCEMARKETING
C) MARKETING AS THE MAJOR FUNCTION
MARKETING
PRODUCTION
FINANCEHR
D)CUSTOMER AS THE CONTROLLING FUNCTION
CUSTOMER
PROD
FINC
HR
MK
G
CUSTOMER
MKG
MKG
MKG MKG
P
F
HR
E) CUSTOMER AS CONTROLLING& MKTG AS A INTEGRATIVE FUNCTION
Marketing
is a process by which individuals and groups obtain what they need and want through creating, offering and exchanging products and services of value with others
Marketing Management
is an art and science of choosing target markets and getting, keepingand growing customers through creating, delivering and communicating superior customer value
CustomerDelivered
ValueTotal
Customervalue
TotalCustomer
Cost
Productvalue
ServiceValue
Personalvalue
Imagevalue
Monetary cost
Time cost
Energycost
Psychiccost
???
Prepare a summary of the topic on marketing-10 minutes any one can be asked to make a presentation………..