BASIC CONCEPTS OF

MARKETING
MANAGEMENT

Presented by
T.Arthy BE
JTO FM
BSNL
MARKETING!

What’s it all
about???
MARKETING
• The process of planning, pricing, promoting, selling and distributing
ideas, goods and services to create exchanges that satisfy customer.
What is Marketing & Marketing
Management
• Marketing is identifying and meeting customer needs profitably
• Example: Gateshead-online shopping
• Marketing Management: It is all about creating superior customer
value
• Example: Flipkart’s cash on delivery payment method
What is marketed
• Durable goods: computers, houses, automobiles
• Nondurable goods: food, cosmetics
• Services: banking, health care, job placement
• People: Athletes, Musicians, Political candidates
• Places: Tourist places, amusement parks
• Organizations: NGOs, Art museums
• Ideas: “Pitch in”, “Buckle up for safety”
Marketing concept
• Doing everything possible to satisfy and delight the customer…….
• While making PROFIT
 MARKETING
MIX
(7 Ps)
Product
• Core Benefit: The service or benefit the customer is really
buying. The customer is buying rest and sleep.
• Basic Product: The room includes a bed, bathroom, towels,
desk, dresser and closet.
• Expected Product: What customers minimally expect? Clean
bed, fresh towels, working lamps
• Augmented Product: Exceeds customer expectations.
• Potential Product: Encompasses all possible augmentations
and transformations the product or offering might undergo in
future

5 Levels of Product
Example: Hotels
Place
• Place in the marketing mix refers
to the channel, or the route,
through which goods move from
source to the final user.
• Place could be the
intermediaries, distributors,
wholesalers and retailers.
Price
• Matching product benefits with cost.
• The sum of all the values that consumers exchange for the benefits of
having or using the product or service.
• Sound pricing decisions are crucial to a successful business and should
be considered at both long-term strategic and short-term tactical
levels.
GENERAL PRICING APPROACHES
1. Cost based pricing
2. Value based pricing
3. Competition based pricing
PROMOTION