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Introduction to Marketing Management :

Nature & Scope of Marketing

Tutored by : Prof. Sunil D Anto

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Objectives
? ? ? ? ?

Marketing Defined Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Marketings Responses to New Challenges

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Defining Marketing
Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. - Philip Kotler

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Core Concepts of Marketing

Target Markets & Segmentation Target Markets & Segmentation Needs, Wants, and Demands Product or Offering Product or Offering Value and Satisfaction Value and Satisfaction Exchange and Transactions Exchange and Transactions Relationships and Networks Relationships and Networks Marketing Channels Marketing Channels Supply Chain Supply Chain Competition Competition
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Marketing Environment Marketing Environment

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What is marketed ?
Products : - Goods - Services - Events - Experiences - Persons - Places - Properties - Organisations - Information - Ideas 2000 Prentice Hall

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Exchange & Transactions

? ? ?

Exchange defined Conditions for an exchange Up-gradation to a Transaction

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Simple Marketing System

Communication

Industry (a collection of sellers)

Goods/services Money

Market (a collection of Buyers)

Information
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Structure of Flows
Resources Money

Resource markets
Taxes, goods

Resources Money

Manufacturer markets

Services, money Services, money

Taxes

Taxes, goods Services, money Money

Government markets

Consumer markets

Goods, services
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Intermediary markets Goods, services

Services Taxes, goods Money

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The Four Ps The Four Cs

Marketing Mix Product Customer Solution Place
Convenience

Price Customer Cost

Promotion Communication

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Components of the Four Ps of

Marketing Mix
Price List price Discounts Allowances Payment period Credit terms Place Channels Coverage Assortments Locations Inventory Transport

Product Product variety Quality Design Features Brand name Packaging Sizes Services Warranties Returns

Promotion Sales promotion Advertising Sales force Public relations Direct marketing

Target Market

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Company Orientations Towards the Marketplace

Production Concept Production Concept Product Concept Product Concept Selling Concept Selling Concept Marketing Concept Marketing Concept
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Consumers prefer products that are widely available and inexpensive Consumers favor products that offer the most quality, performance, or innovative features Consumers will buy products only if the company aggressively promotes/sells these products Focuses on needs/ wants of target markets & delivering value better than competitors

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Customer Delivered Value

Starting point
Factory

Focus
Existing products

Means
Selling and promotion

Ends
Profits through sales volume

(a) The selling concept

Market Customer needs Integrated marketing Profits through customer satisfaction

(b) The marketing concept

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2000 Prentice Hall

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Traditional Organization Chart

Top Management Middle Management Front-line people Customers

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Customer-Oriented Organization Chart

Customers Front-line people Middle management Top management

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us to

er
s

us C to er m

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Evolving Views of Marketings Role

Production Finance Human resources Marketing

Production Marketing

Finance Human resources

a. Marketing as an equal function

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b. Marketing as a more important function

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Evolving Views of Marketings Role

Production

ro P
Marketing

uc d

on ti

Customer

Fi na e nc

Fi

na

ar k

et

in

c. Marketing as the major function

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2000 Prentice Hall

d. The customer as the controlling factor

re Hu so m ur an ce s

n ma ces Hu ur so re

ce n

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Evolving Views of Marketings Role

Production Marketing
Customer

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2000 Prentice Hall

n ma ces Hu ur so re

na i

ce n

e. The customer as the controlling function and marketing as the integrative function

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Review
? ? ? ? ?

Course Organization Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Marketings Responses to New Challenges

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2000 Prentice Hall