Principles of marketing mba 1st sem by babasab patil (karrisatte)
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Transcript of Principles of marketing mba 1st sem by babasab patil (karrisatte)
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Principles of Marketing
Presented By:-
Babasab Patil
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Module : I
Introduction to Marketing
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What is Marketing?
Marketing is a social and managerial process by
which individuals and groups obtain what they
need and want through creating and
exchanging products and value with others
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In other words:
Marketing is creating, Developing, Communicating and
Delivering goods and services to the ultimate customer
to satisfy their need and reaching organizational goal
profitably
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Definition
According To AMA:
“Marketing is an organizational function and a
set of processes for creating, communicating,
and delivering value to customers and for
managing customer relationship in ways that
benefit the organization and stake-holders”
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Importance of Marketing
“Change or Die”
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Ex:
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Ex:
Sony Walkman, - completely changed the
way people listened to music.
Gillette Mach III
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Ex: Tile: Search My Stuffs
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Ex:
Apple iphone 5S and 5C
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Ex:
Ford Ecosportz
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What is Marketed? Goods--------------- ?
Services------------- ?
Events---------------
Experiences ------- (Wonder la)
Persons-------------- ?
Places---------------- (Tourism)
Properties----------- ?
Organizations------ ? ( ads in the CSR sense, Philips‟ tagline, „let‟s make things better‟
Information---------- ?
Ideas (Eg Charles Revson of Revlon said : in the
factories we make cosmetics, in the shops we sell hope)
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Who Markets?
Marketers and Prospects
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Who are the Key Customer Markets
Consumer Market
Business market
Global Market
Non Profit Organizations and
Governmental Markets
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How Business And Marketing Are Changing Changing Technology
Globalization
Deregulation
Privatization
Customer Empowerment
Customization
Heightened Competition
Industry Convergence
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Core Marketing Concepts
1. Needs, Wants, and Demands
2. Products and Services
3. Segmentation, Target Markets, and Positioning
4. Offerings and Brands
5. Value and Satisfaction
6. Marketing Channels
7. Supply Chain
8. Competition
9. Market Environment
10. Marketing Planning
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Company Orientation Towards the
Marketplace
The Production Concept
The Product Concept
The Selling Concept
The Marketing Concept
The Societal Concept
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Production concept :
Concentration on high production efficiency and wide
distribution coverage
Demand is assumed
Sales taken for granted if product is made available
cheaply
Seller‟s market – manufacturing takes precedence
over marketing
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Product concept
Focus on quality, performance, features
Company concentrates on making good quality
products and improving them over time
Emphasis changed from price to features or
value Still passive
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Selling concept
Left to itself, no sale, so aggressive selling
required
Active engagement with the market
Both soft sell and hard sell
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Marketing concept :
Key to achieving organizational goal is
matching needs between needs of target
market and effective and efficient delivery
Satisfactory transaction
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Holistic Marketing concept
„Everything matters with marketing‟
Development, design and implementation
of marketing programs, processes and
activities, their scope and interdependency
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Holistic Marketing
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Social Responsibility Marketing
Marketing responsibility beyond the customer
to encompass society as a whole
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What is
Marketplaces
Marketspaces
Metamarkets
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Shifts in Marketing Management
Successful companies- change marketing with
changes in marketplace/ Marketspace
From, „Marketing does Marketing‟ to „everyone does
Marketing‟
From product to customer segmentation
From in-house manufacturing to outsourcing
Many vendors to a few biz partners
From old marketing positions to discovering new
ones
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From tangible assets to intangible properties
From brand-building thru advertising to brand-
building thru performance, value creation and
integrated communication
From physical to online
From mass to niche
From profit to customer lifetime value
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From market share to customer share
From local to „global‟
From financial scorecard to marketing
scorecard
From share-holders to stake-holders
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Marketing Management Tasks
Development Marketing Strategies and Plans
Capturing Marketing Insights
Connecting With Customer
Building The Market Offering
Delivering Value
Commutation Value
Creating Long-Term Growth
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Selling Versus Marketing
Production
Capacities
Manufacturing
Products
Aggressive
Sales Efforts
Aim at
Customer
as a Target
Potential
Marketing
Opportunities
Production
Capabilities
Market
Products/
Services
Actual Wants/
Needs of
Potential
Customers
Marketing
Program
Customer
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Marketing Orientation
Customer Focus - Understand needs, create value,
and serve to assure customer satisfaction, with
inter-functional teamwork
Competitor Focus - Seek advantages relative to
competitors, monitor behavior and respond to
strategic moves (foes or friends)
Profit Focus - Manage to assure short- and long-
term profitability
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Marketing Process
Define
Problem
Analyze
Market (Environment,
Competition,
Strength,
Weakness,
Needs/Interests
of Defining
Segments
Select Segment (s): Profitability, Fit with
Company/Product/Market
Develop
Marketing
Program (Set strategies
for Product,
Pricing,
Promotion and
Distribution)
Improve
Program
Evaluate
Program
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Industry
(a collection
of sellers)
Market
(a collection
of Buyers)
Goods/services
Money
Communication
Information 2/13/2014 Babasabpatilfreepptmba.com 36
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Customers
Front-line people
Middle Management
Top
Management
Traditional Organization Chart
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Customer-Oriented Organization Chart
Customers
Front-line people
Middle management
Top
manage-
ment
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Relationship marketing
Enduring relationships with all key parties,- suppliers,
customers, distributors and other partners
Not just CRM but PRM
Objective,- to build a unique asset called marketing
network, profits will follow
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Supply chain
1.Raw materials to components to finished product to buyer
2. Supply chain represents a value delivery system
3. Each company on the value chain captures only a small portion
of the value generated by the supply chain
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Competition
1. Others with similar rival offerings
2. Substitutes
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Marketing Environment
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Common Marketing Problems
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How can we measure the effectiveness of an add
campaign, of Public Relations, of a promotion, etc…?
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How can we satisfy our customers and build brand loyalty?
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Babasabpatilfreepptm
ba.com
How can differentiate our offer from our
competition?
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How should we react to competitors?
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How can we identify and choose profitable market
segments?
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Maslow’s Hierarchy of needs
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Thank you
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