MARKETING DEFINITION

 A social Managerial process whereby

individuals and groups obtain what they need
and want through creating and exchanging
products and value with others

1
Concept of sales
 Selling starts with the seller
 Emphasis in on the saleable surplus available within
the corporation
 Views business as a goods producing process
 Overemphasis is on the exchange aspect without
caring for the “value satisfaction”
 Cost determines the price
 Emphasis is on staying with the existing technology
and reducing price In firms practicing selling
production is the central function of the business .

2
Concept of Marketing
 Marketing focusses on the need of the buyer
 Emphasis is on identifying market opportunity
 Views businesses as customer satisfying process
 Buyers determine the shape of the marketing mix
 Customers determine price, price determines cost
 Distribution and storage are considered as vital services
to be provided to the customer

3
Product Life Cycle

4
Characteristics of Introductory
Stage:
 Market Growth rate:Moderate
 Technical change in product design:High
 Segments: Few
 Competitors: Few
 Profitability: Negative
 Strategic Marketing Objectives: Stimulate Primary
Demand
 Product Line: Narrow
 Price : Skimming, Penetration
 Channels: Selective
 Communications: High
5
Characteristics of Growth
Stage
 Market Growth rate:High
 Technical change in product design:Moderate
 Segments: Few to many
 Competitors: Many
 Profitability: High
 Strategic Marketing Objectives: Build Share
 Product Line: Broad
 Price : Reduce
 Channels: Intensive
 Communications: High
6
Characteristics of Shakeout
Stage
 Market Growth rate:Levelling off
 Technical change in product design:Limited
 Segments: Few to many
 Competitors: Decreasing
 Profitability: Low
 Strategic Marketing Objectives: Build Share
 Product Line: Rationalize
 Price : Reduce
 Channels: Intensive
 Communications: High
7
Characteristics of Maturity
Stage
 Market Growth rate:Insignificant
 Technical change in product design:Limited
 Segments: Few to many
 Competitors: Limited
 Profitability: High for Market share leaders
 Strategic Marketing Objectives: Hold Share
 Product Line: Hold Length Of Line
 Price : Hold or Reduce selectively
 Channels: Intensive
 Communications: High to declining
8
Characteristics of Decline
Stage
 Market Growth rate:Negative
 Technical change in product design:Limited
 Segments: Few
 Competitors: Few
 Profitability: Low
 Strategic Marketing Objectives: e
 Product Line: Reduce Length Of Line
 Price : Reduce
 Channels: Selective
 Communications: Reduce
9