MARKETNG MANAGEMENT

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 the process of planning and executing the conception, pricing and promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives .
American Marketing Association

What is Marketing?
Marketing is a process It involves a set of decisions about product, price, place and promotions aimed at selected target market/s It is aimed at a range of products It is about exchange It is intended to satisfy individual and organizational needs

Marketing is a Process

4 Broad Steps:
Marketing Analysis Marketing Planning Marketing Plan Implementation Marketing Plan Control

Marketing is a Process (contd.)

Market Analysis involves studying the marketplace and searching for opportunities upon which a particular firm-with unique skills- can capitalize

Market Planning involves Segmentation -Target market choice - Positioning - Design of the marketing mix

Marketing is a Process (contd.)

Market implementation: Includes the systems and processes to go to the market with the marketing programme Marketing Control: Refers to the formal and informal mechanisms that marketing managers can use to keep the marketing programme on course.

What is Marketing?
Marketing is a process It involves a set of decisions about product, price, place and promotions aimed at selected target market/s It is aimed at a range of products It is about exchange It is intended to satisfy individual and organizational needs

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

PRODUCT
A product is any good, service or idea that satisfies a need or want and can be offered in an exchange.

GOOD
A good is a tangible object, something that can be seen or touched. SERVICE A service is a intangible product that often involves human or mechanical effort. IDEAS An idea is a philosophy, concept or image.

Marketing Ideas: Friends Dont Let Friends Drive Drunk

This is the watch Stephen Hollingshead, Jr. was wearing when he encountered a drunk driver. Time of death 6:55 p.m.

PERSON MARKETING Marketing efforts designed to cultivate the attention, interest & preference of a target market toward a person. PLACE MARKETING Marketing efforts of attract people & organizations to a particular geographic area. EVENT MARKETING Marketing of sporting, cultural & charitable activities to selected target markets. CAUSE MARKETING Identification & marketing of a social issue, cause or ides to selected target markets. ORGANIZATION MARKETING Marketing by Organizations intended to influence others to accept their goods, receive their services & contribute to them in some way.

EXPERIENCES
By combining several goods & services it is possible to create, stage & market experiences.

INFORMATION
PROPERTIES

Marketing involves exchange:

For an exchange to occur.
There are at least two parties. Each party has something that might be of value to the other party. Each party is capable of communication and delivery. Each party is free to reject the exchange offer. Each party believes it is appropriate or desirable to deal with the other party.

EXCHANGE BETWEEN BUYER & SELLER

Something of value: money, credit, labor, goods

Information: (Ads, Direct mail etc)

BUYER
Information (Tastes, Preferences etc)

SELLER

Something of value: goods, services, ideas

 Need Want Demand

 Need: A need is something that is necessary for humans to live a healthy life. Needs are distinguished from wants because a deficiency would cause a clear negative outcome, such as dysfunction or death. Needs can be objective and physical, such as food and water, or they can be subjective and psychological, such as the need for selfesteem

I want it, I need it

5 Types of Needs Stated needs Real needs Unstated needs Delight needs Secret needs

The 8 Marketing Functions

Buying Selling Transporting Storing Grading Financing Risk Taking Market Information

TYPES OF UTILITIES
TYPE DESCRIPTION ORGANIZATIONAL FUNCTION RESPONSIBLE

1.Form

Conversion of raw material & components Production into finished goods & services. Availability of goods & services at convenient Marketing locations.

2. Place

3. Time

Availability of goods & services when consumers want them.

Informing prospective customers about the availability of a product. Image utility Ability to transfer title of goods & services from marketer to buyer.

Marketing

4. Information 5. Possession

Marketing

Marketing

MARKETING TASKS
DEMAND STATE MARKETING TASK 1. Negative Analyze the reasons for negative attitudes & Demand develop a marketing programme to bring about attitude & behavioral changes. 2. No Demand Connect the benefits of the product to consumers needs & interests.

3. Latent Demand Measure the intensity of latent demand & develop products accordingly. 4. Declining Analyze causes of declining demand. Reverse Demand declining demand through creative marketing / product relaunch

MARKETING TASKS (contd.)

DEMAND STATE 5. Irregular Demand MARKETING TASK Attempt to regulate demand patterns (synchromarketing)

6. Full Demand Maintenance of current level of demand. Continuous measurement of consumer satisfaction.

7. Overfull Demand 8. Unwholesome Demand

Find ways to reduce demand (Demarketing)

Find ways to discourage consumption.