MARKETING:-

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and
services to create exchanges that satisfy individual and organizational goals American Marketing association. Marketing
is the management process responsible for identifying, anticipating, and satisfying customer requirements profitably
Chartered Institute of Marketing. ROLE:- Effective match of Organizational Resources + Customer Satisfaction =
Specification of target market (Organizational aims and objectives Customer satisfaction)
MARKETING CONCEPT:-
It states that if a business or organization is to achieve profitability, the entire organization must be oriented towards
satisfying consumer needs, wants and aspirations. KEY ISSUES:- **Organizations must concentrate on the customer and
not the product or the company. **Organizations should revolve round the customer and not the other way around. **The
purpose of a business is to create and keep a customer. ELEMENTS:- **Consumer/customer Orientation. **Total
Organization effort. **Profitability/achievement of objectives.

MARKETING:-
**Approach:- Broader range of activities to sell product/service, client relationship etc.; determine future needs and has a
strategy in place to meet those needs for the long term relationship. **Focus:- Overall picture to promote, distribute, price
products/services; fulfill customer's wants and needs through products and/or services the company can offer. **Process:-
Analysis of market, distribution channels, competitive products and services; Pricing strategies; Sales tracking and market
share analysis; Budget. **Scope:- Market research; Advertising; Sales; Public relations; Customer service and satisfaction.
**Strategy:- Pull. **Horizon:- Long term. **Priority:- Marketing shows how to reach to the Customers and build long
lasting relationship. **Identity:- Marketing targets the construction of a brand identity so that it becomes easily associated
with need fulfilment.
SALES:-
**Approach:- Makes customer demand match the products the company currently offers. **Focus:- Fulfill sales volume
objectives. **Process:- Usually one to one. **Scope:- Once a product has been created for a customer need, persuade the
customer to purchase the product to fulfill her needs. **Strategy:- Push. **Horizon:- Short term. **Priority:- Selling is the
ultimate result of marketing. **Identity:- Sales is the strategy of meeting needs in an opportunistic, individual method,
driven by human interaction. There's no premise of brand identity, longevity or continuity. It's simply the ability to meet a
need at the right time.
SOCIETAL MARKETING:- **Generating customer satisfaction and long-run societal well-being are the keys to both
achieving the companys goals and fulfilling its responsibilities. **Marketing that preserves or enhances an individuals and
societys long-term best interests. Example:- Less toxic products, More durable products.
RELATIONSHIP MARKETING:- The process of creating, maintaining, and enhancing strong, value-laden relationships
with customers and other stakeholders.

MARKET:-
According to Kotler a market consist of all the potential customers sharing a particular need or want who might be willing
and able to engage in exchange to satisfy that need or want. TYPES:- **Consumer Markets:- It is a market generally
dominated with services and products for the general consumer. It has demographic, psychographic, behavioralistic and
geographic characteristics. **Industrial / Business to Business Markets:- Business to business refers to business that is
conducted between companies, rather than between a company and individual consumers. **Reseller (Retailers,
Distributors) Markets:- Buyers who purchase with the intent of selling those products to others. **Publics (Government
agencies / departments / institutions). **International / Global Markets.
MARKETING ORIENTATION:-
**The process of applying the marketing concept in the market place. **Maintaining a customer orientation. **All
departments work together guided by customer needs/wants/aspirations. **Focus on profits/objectives. Production
Orientation:- Focus on the means of production, and assumes customers will want the product/service. Product
Orientation:- Focus on the technical perfection of the product / service seen through the producers (firm) eyes. Assumes
customers will perceive product/service in the same way and thus buy. Selling Orientation:- Focus on persuading (usually
aggressive) customers to buy products which do not usually match their requirements. This is unlikely to lead to repeat
buy/business. Customer Orientation:- Focus on discovering customer needs (basic survey/question & answer type) and
satisfying them. This is unlikely to make best uses of production and other organizational resources.

MARKETING MANAGEMENT TASKS:-
**Developing marketing strategies & plans. **Capturing marketing insights. **Connecting with customers. **Building
strong brands. **Shaping the market offerings. **Delivering value. **Communicating value. **Creating long-term growth.
STRATEGIC PLANNING:-
**A strategic business plan describes the overall direction an organization will pursue within its environment and also
guides the allocation of resources. It provides the logic that integrates the perspectives of functional departments and
operating units, and points them all in the same direction. **A strategic marketing plan outlines the actions necessary, who
is responsible, when and where they will be completed, and how they will be coordinated. A marketing plan is carried out
within the context of a firms broader strategic business plan.
TOTAL QUALITY APPROACH:-
This is a process and output related philosophy, striving to satisfy customers effectively. It always:- **Seeks to satisfy
customers. **Has a top management commitment. **Emphasizes continuous improvement. **Requires support from
employees, suppliers, and distribution intermediaries.

STRATEGIC PLANNING PROCESS:-
Define Organizational Mission:- A long-term commitment to a type of business and a place in the market. It describes
the scope of the firm and its dominant emphasis and values, based on a firms history, current management preferences,
resources, and distinctive competence, and on environmental factors. Establishing SBUs:- Each of a firms Strategic
Business Units (SBU ) has six attributes:- **A specific target market. **Its own senior marketing executive. **Control
over its resources. **Its own marketing strategy. **Clear-cut competition. **Distinct differential advantages. Setting
Marketing Objectives:- Marketing objectives establish the firms goals for each SBU. Objectives are described in both
quantitative terms (dollar sales, percentage profit growth, and market share), and qualitative terms (image, level of
innovativeness, and industry leadership role). Performing Situational Analysis:- SWOT analysis is done which is a
continuous review of a firms market position. Developing Marketing Strategy:- A marketing strategy outlines the way
in which the marketing mix is used to attract and satisfy the target market. A separate strategy is necessary for each SBU.
Four strategic planning approaches are:- **Product/Market Opportunity Matrix. **Boston Consulting Group Matrix.
**General Electric Business Screen. **Porter Generic Strategy Model. Implementing Tactical Plans:- A tactical plan
specifies the short-run actions (tactics) that a firm undertakes in implementing a given marketing strategy. It has three basic
elements:- **Specific Tasks. **Time Frame. **Resource Allocation. Monitoring Results:- Monitoring results compares
the actual performance of a firm, SBU, or product against the planned performance for a specified period. It can be done
by:- **Continuous monitoring of performance. **Regular use of proper strategy adjustments. **Maintenance of a customer-
oriented focus. **Stressing positive written and oral communication among employees and channel members. Feedback.

ANSOFF PRODUCT / MARKET OPPORTUNITY MATRIX:-
The four basic growth possibilities are **Market Penetration:- Expand sales of present products in current market by
pricing, promotion, and distribution strategies. **Market Development:- Seek greater sales of present products from new
markets or new uses. **Product Development:- Develop new or modified products to appeal to present market.
**Diversification:- Develop new products aimed at new markets. **Each growth opportunity has a certain amount of risk.
Diversification is considered the opportunity with the highest risk because it involves making time and money investments
in things like new techniques, skills, and equipment. **Market penetration has the lowest risk but eventually the company
will reach market saturation. **A company should decide whether to pursue market development or market penetration
based on the organization's strengths and competitor's weaknesses.
BOSTON CONSULTING GROUP MATRIX:-
It is based on the product life cycle theory that can be used to determine what priorities should be given in the product
portfolio of a unit. It has two dimensions:- market share and market growth. The basic idea behind it is that the bigger
market share a product has or the faster the market grows the better it is for the company. COMPONENTS:- STARS:-
(high growth, high market share). **Use large amounts of cash and are leaders in the business so they should also generate
large amounts of cash. CASH COWS:- (Low growth, high market share). **profits and cash generation should be high
and because of low growth, investments needed should be low and profits should be kept high. DOGS:- (Low growth,
Low market share). **They neither generate nor consume a large amount of cash. **they are cash traps as money tied up in
a business has little potential, they should deliver cash otherwise liquidate. QUESTION MARKS:- (High growth, low
market share). The have the worst characteristics due to high demands and low returns due to low market share. If nothing is
done to change the market share, these will simply absorb great amounts of cash. LIMITATIONS OF BCG:- **High
market share is not the only success factor. **Market growth is not the only indicator for attractiveness of a market.
**Sometimes dogs can earn more cash as cash cows.

PORTERS GENERIC STRATEGY MODEL:-
It describe how a company pursues competitive advantage across its chosen market scope. There are three generic strategies,
either lower cost, differentiated, or focus. A company chooses to pursue one of two types of competitive advantage, either
via lower costs than its competition or by differentiating itself along dimensions valued by customers to command a higher
price. A company also chooses one of two types of scope, either focus or industry-wide, offering its product across many
market segments. **If a firm is targeting customers in most or all segments of an industry based on offering the lowest
price, it is following a cost leadership strategy. **If it targets customers in most or all segments based on attributes other
than price to command a higher price, it is pursuing a differentiation strategy. It is attempting to differentiate itself along
these dimensions favourably relative to its competition. It seeks to minimize costs in areas that do not differentiate it, to
remain cost competitive. **If it is focusing on one or a few segments, it is following a focus strategy. A firm may be
attempting to offer a lower cost in that scope (cost focus) or differentiate itself in that scope (differentiation focus).
GENERAL ELECTRIC MODEL:-

CONSUMER BUYING BEHAVIOUR:-
Consumer Buying Behaviour refers to the buying behaviour of final consumers (individuals & households) who buy goods
and services for personal consumption. FACTORS AFFECTING CONSUMER BEHAVIOUR:- **Cultural:- Culture,
sub culture, social class. **Social:- Reference groups, family, roles and status. **Personal:- Age, Economic situation,
Occupation, lifestyle, personality. **Psychological Factors:- Learning, Motivation, perception, beliefs and attitudes.
MASLOWS NEED OF HIERARCHY:-
**Self Actualization:- (Self-development). **Esteem Needs:- (self-esteem, status). **Social Needs:- (sense of belonging,
love). **Safety Needs:- (security, protection). **Physiological Needs:- (hunger, thirst).
BUYER DECISION PROCESS:-
**Need Recognition:- Internal and external recognition. **Information search:- Personal sources, commercial sources,
public sources, experimental sources. **Evaluation of alternatives:- Product attributes, Degree of importance, Brand belief,
Total Product Satisfaction, Evaluation Procedures. **Purchase decision:- Attitudes of others, Unexpected situational factors.
**Post purchase behaviour:- Satisfied customer, dissatisfied customer.