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MARKETING

MANAGEMENT
ELECTIVES
PRESENTED BY: AMRUT POKHARKAR
SURAJ YADAV
PRIYA BHATKAR
TULSIGANDHA BHARANKAR
SWEETA BANE
VIBHA SHETTY

WHAT IT MEANS?
[Business & Management ]:Marketing
Management, Marketing is the activity,
set of institutions, and processes for
creating, communicating, delivering,
and exchanging offerings that have
value for customers, clients, partners,
Marketing is the process of communicating
the value of a product or service to
customers, for the purpose of selling the
product or service. It is a critical business
function for attracting customers.

On other hand :Marketing is a process


of obtaining customer satisfaction, by
making sure than your customers always
come first and making face to face
presentation with your loyal customers.

Process of communicating the value of a


product or service through positioning to
customers. Marketing can be looked at as an

New

Definition

"Marketing is the activity, set of institutions, and


processes for creating, communicating,
delivering, and exchanging offerings that have
value for customers, clients, partners, and
society at large."

Previous Definition
"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."

Management is the processes of planning, organizing directing motivating and coordinating and
controlling of various activities of a firm. Marketing is the process of satisfying the needs and wants of
the consumers. Management of marketing activities is Marketing Management.
Management Guru Philip Kotler defines marketing as
Marketing Management is the analysis, planning,
implementation and control of programmes
designed to bring about the desired exchanges with
target audiences for the purpose of personal and mutual
gain. It relies heavily on adoption and coordination of the
product, price, promotion and place for achieving
response: In other words, a business discipline, which is
focused on the practical application of marketing
techniques and the management of a firms marketing
resources and activities, is Marketing Management.
Marketing Management focuses upon the psychological
and physical factors of Marketing. The Marketing managers
are responsible for influencing the level, timing, and
composition of customer demand accepted definition of
the term. While the psychological factors focus upon
discovering the needs and wants of the consumer and the
changing patterns of buying behavior, habit etc. the
physical factors focus upon fulfilling those needs and
demands buy better product design, channel of

In summary, Marketing in action is marketing Management. Marketing Management has the


responsibility of to perform many functions in the field of marketing such as planning, organizing,
directing, motivating, coordinating and controlling. All these function aim to achieve the
marketing goals.

Following is a brief summary of functions of Marketing:


1. Marketing Objectives: marketing management determines the marketing objectives. The
marketing objectives may be short term or long term and need a clear approach. They have to
be in coherence with the aims and objectives of the organization. Planning: After objectively
determining the marketing Objectives, the important function of the marketing Management is
to plan how to achieve those objectives. This includes sales forecast, marketing programmes
formulation, marketing strategies.
2. Organization: A plan once formulated needs implementation. Organizing functions of marketing
management involves the collection and coordination of required means to implement a plan
and to achieved pre determined objectives. The organization involves structure of marketing
organization, duties, responsibilities and powers of various members of the marketing
organization.
3. Coordination: Coordination refers to harmonious adjustment of the activities of the marketing
organization. It involves coordination among various activities such as sales forecasting,
product planning, product development, transportation, warehousing etc.
4. Direction: Direction in marketing management refers to development of new markets,
leadership of employees, motivation, inspiration, guiding and supervision of the employees.
5. Control: Control refers to the effectiveness with which a marketing plan is implemented. It
involves the determination of standards, evaluation of actual performance, adoption of

6. Staffing: Employment of right and able employees is very crucial to success of a market plan. The
market manager coordinates with the Human Resource Manager of an organization to be able to hire
the staff with desired capability.
7.Analysis and Evaluation: The marketing management involves the analysis and evaluation of the
productivity and performs mace of individual employees.

DEFINITION
Marketing management is the analysis, planning, implementation
and control of programs designed to bring about desired exchanges
with target markets for the purpose of achieving organizational
objectives. It relies heavily on designing the organizations offering in
terms of the target markets needs and desires and using effective
pricing, communication and distribution to inform, motivate and
service the market.
BY PHILIP KOTLER

: This definition includes following core concepts :


needs , wants and demands --- products------value & satisfaction--exchange & transaction---markets & marketers

NEEDS,WANTS AND DEMANDS


NEED : A state of felt deprivation of some basic
satisfaction ( Food, Clothing, Shelter, Belonging etc. )
WANTS : Wants are desires for specific satisfiers of the
deeper needs. Needs are few and wants are many
DEMANDS : are wants backed by ------Ability to buy and
Willingness to buy

PRODUCTS / OFFERS
Anything that can be offered to someone to satisfy a need
or want is a product
Product refers to physical object
Services refer to intangible object

VALUE AND SATISFACTION


Value is the customers estimate of the Products capacity to

satisfy a set of goals


Value is the ratio between what the customer gets and what
he gives
Customer gets benefits & assume costs
When : Customer Expectance=Performance (satisfied)
Customer Expectance>Performance (dis-satisfied)
Customer Expectance<Performance (Highly satisfied)

EXCHANGE AND
TRANSACTION
Exchange is the act of obtaining a desired product by offering something in
return .

Exchange takes place when 5 conditions are satisfied:


( a) Two parties should be
(b) Each party must have something of value to the
(c) Each party is capable of communication & delivery
(d) Each party is free to accept or reject the offer
(e) Each party believes that it is appropriate to deal with the other party

Exchange is a process rather than event. It is a value creating process


because it normally leaves both parties better off.

A transaction is a trade of values between two or more parties ( A BARTER


TRANSACTION OR A MONETARY TRANSACTION ).

A SIMPLE MARKETING
SYSTEM

MARKETING CONCEPTS
There are FIVE competing concepts under which
organizations conduct their marketing activities:
The Production Concept
The Product Concept
The Selling Concept
The Marketing Concept
The Societal Marketing Concept

THE PRODUCTION CONCEPT


Consumers will favour those products that are widely available
and low in cost.
Therefore increase production and cut down costs. & build
profit through volume

THE PRODUCT CONCEPT


Buyers admire well-made products and can appraise product
quality and performance.
Consumers will favour those products that offer the most
quality, performance, or innovative features.
herefore, improve quality, performance and features. This
would lead to increased sales and profits.

THE SELLING CONCEPT


Consumers have normal tendency to resist.
Making sales becomes primary function and consumer
satisfaction secondary
Consumers , if left alone , will not buy enough of
companys products.
Therefore, promote sales aggressively. And, build profit
through quick turnover.

MARKETING CONCEPT
LOVE THE CUSTOMER , NOT THE PRODUCT
The key to achieving organizational goals consist in
determining the needs and wants of target markets and
delivering the desired satisfactions more effectively and
efficiently than competitors. And build profit through
customer satisfaction and loyalty.

THE SOCIETAL MARKETING


CONCEPT
It is Marketing Concept (+) Societys well being.
Balancing of following three considerations while setting marketing
policies : -Customers want satisfaction -Societys well being
-Companys profits
The societal marketing concept holds that the organizations task is
to determine the needs, wants, and interests of target markets and to
deliver the desired satisfactions more effectively and efficiently than
competitors in a way that preserves or enhances the consumers and
the societys well being. - It addresses conflicts between consumers
and firms short run wants and long term welfare.

THREE LEVELS OF
MARKETING
Responsive Marketing :It is the form of marketing when some company defines an existing
clear need and prepare an affordable solution. Recognizing that women wanted to spend
less time for cooking and cleaning, led to the invention of modern washing machine,
microwave oven etc.)
Anticipative Marketing :It is a form of marketing when a company recognize an emergent or
latent need, and come out with an affordable solution. Evian, Perrier anticipated growing
market for bottled drinking water as the quality of water deteriorated in many places.
Anticipative marketing is more risky than responsive marketing;companies may come into
market too early or too late,or may even be totally wrong about thinking that such a market
would develop.(eg. Dish washers in India)
Need Shaping Marketing:The broadest level of marketing occurs when a company
introduces product that nobody asked for and often could not even conceive of. (e.g. Sony
Walkman, Sony Compact Disc ) Late Akio Morita, founder and chairman of Sony, who
introduced these and many other new products, summarized his marketing philosophy in
these words: I dont serve markets. I create them.

Importance of Marketing
Management

Introduction of new products in the market.


Increasing the production of existing products.
Reducing cost of sales and distribution.
Export market.
Development in the means of communication and modes of
transportation within and outside the country.
Rise in per capita income and demand for more goods by the
consumers.

Objectives of Marketing
Management

Creating New Customers.


Satisfying the Needs of Customers.
Enhancing the Profitability of Business.
Raising the standards of living People.
Determining the Marketing Mix.

Steps in Marketing Management


Process

Setting the Marketing Objectives.


Analyzing Marketing Opportunities.
Researching and selecting Targets Markets.
Designing Marketing Strategies.
Planning Marketing Programs.
Organizing, Implementing and Controlling the Marketing
Efforts.

Marketing Mix
Marketing mix is the term used to describe the
combination of the four inputs which constitute the core of
companies marketing system- the product the price
structure, the promotional activities and the distribution
system.

The Marketing Mix Principles (also known as the


4ps) are used by business as tools to assist them in
pursuing their objectives.
Product Strategies:- How will you design, package add
value to the product?
Price Strategies:- what pricing strategies is appropriate to
use?
Place Strategies:- Where will the firm locate?
Promotion Strategies:-How will the firm promote its
product?

Factors Affecting Marketing Mix

Controllable factors.
Product Planning.
Brand Policy.
Packaging Policy.
Personal Selling.
Physical Distribution.

Uncontrollable Factors
Consumers Buying
Behavior.
Competition.
Pattern of distribution
System.
Government Control.