Marketing Sec A

April 14, 2012
Marketing Management by Rajiv Jain
What do you understand from this image?
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What these images communicate?
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Why Marketing is an important function in a company?
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An Overview of Marketing
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Marketing Management Unit 1
Why do we need to learn Marketing ?
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Can you sell these products Easily ?
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How about these products?
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How about them ? Can you Market them?
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How about Their films ?
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Why Marketing for cooperatives and Coop Products ?
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Why Study Marketing?

Plays an important role in society Vital to business survival, profits and growth Offers career opportunities
Affects your life every day
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Professional Selling
1/4th to 1/3rd of the entire civilian workforce in the india performs marketing activities Fastest route up the corporate ladder
Marketing Research Advertising Retail Buying
Distribution Management
Product Management Product Development Wholesaling
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Half of every rupee spent by consumers pays for marketing costs
Become a better-informed consumer
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What is Market and its types?
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What is a market?
Market ( Market place) A physical place where buyers and sellers gather to exchange goods and services
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Types of markets
Consumer
Nonprofit government
markets
Business
Global
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1.Consumer Market Consists of all individuals or house holds who buy or acquire offerings for personal usage. Strength depends upon superior product, packaging ,ava.
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2.Industrial/Business Market Consists of buyers who purchase or acquire offerings for resell or reproduction to earn profit. Strength are sale force, price & company reputation
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3.Global Market/International markets. Import, export etc. Company must decide regarding how, which what ????
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4.Non Profit & Government Markets-
Companies selling goods to non profit organization such as churches, charitable organization
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Marketplace- physical where you shop Marketspace- digital as when you shop on internet Metamarkets- cluster of complimentry products & services .
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What is Marketing?
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What is Marketing?

Personal Selling? Advertising?
Making products available in stores?

Maintaining inventories? All of the above, plus much more!
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What is Marketing?
American Marketing Association Definition
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.
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Kotlers Defination
The Art & Science of choosing Kotlers defination: target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value
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Simple Marketing System

Communication
Goods/services
(a collection of sellers)
Money
Industry
(a collection of Buyers)
Market
Information
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Marketing = ?
Marketing is the sum of all activities that take you to a sales outlet. After that sales takes over. Marketing is all about creating a pull, sales is all about push. Marketing is all about managing the four Ps

product price place promotion
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The 4 Ps & 4Cs

Marketing Mix Convenience
Product
Place
Customer Solution
Price
Promotion
Customer Cost
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Communication
Difference Between - Sales & Marketing ?
Sales
trying to get the customer to want what the company produces
Marketing
trying to get the company produce what the customer wants
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What is Marketed?
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GOODS
PERSONS
PROPERTIES
SERVICES
ORGANISATIONS
MARKETING
EXPERIENCES PLACES EVENTS

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INFORMATION
IDEAS
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What is Marketed?
Basically 10 types of entities are being marketed.
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Goods Consumer goods, industrial goods Services Intangible offerings of people or organizations Experiences Tourism, Recreation, theme restaurant, adventure Events Anniversaries, trade shows, artistic performance , sports Persons Marketing one's self e.g. celebrities, politicians, artists Marketing Management Unit 1 etc.
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Places Cities, states, regions, historical places, tourism Properties Rights of ownership either real property (real estates) or financial property ( stocks & bonds). Organizations Firms, Universities Information News, news papers etc.e.g CEO of Siemens Medical System ( Not X-Ray but information) Ideas New ideas/research about production, services, advertisement etc.1 Marketing Management Unit
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You can market only if there is demand for them:::
What is Demand?
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NEGATIVE
NO DEMAND
LATENT DEMAND DEMAND STATES
DECLINING DEMAND
DEMAND STATES
IRREGULAR DEMAND
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FULL DEMAND
OVERFULL DEMAND
Unwholesome demand
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1.Negative Demand consumer dislike product and may even pay a price to avoid it. The marketing task is to analyze why the market dislike product and adopt the strategy to change the attitude of consumer e.g vaccination, dental work.
Employers feel a negative demand for

Ex-convicts Alcoholics
2.No Demand consumer may be unaware or uninterested In product. The marketing task is to find ways to connect the benefits of the product with the persons natural needs and interests e.g new farming method, foreign lang course. 3.Latent Demand Want of consumers exist but not marketing offer to satisfy need. The marketing task is to measure the size of potential market and develop good and services to satisfy that want e.g harmless ciggarattes, fuel efficient cars.
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4.Declining Demand Consumers begin to buy the product less frequently or not at all. Marketing task is to analyse the cause of market decline, determine whether the demand can be restimulated by changing target markets, changing product features and developing more effective goods or reverse declining demand through creative marketing e.g less no. of appli. In private college 5.Irregular demand Variations in demand on seasonal, daily or even hourly bases causing problem of idle & over capacity. The marketing task called Synchromarketing is to find the ways to alter the pattern of demand through flexible pricing, promotion and other incentives e.g museums are under visited in few day, OTs booked in early weeks .
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6.Full Demand supply= demand. The marketing is to: Maintain the current level of demand in the face of changing consumer preferences and increasing competition, Quality should be improved, Continuously measure consumer satisfaction 7. Overfull Demand Demand level is high as compare to organizational production capacity. Marketing task is called demarketing is to find ways to reduce demand temporarily or permanently. Steps involved in de-marketing: i. Raising prices. ii. Reducing promotion and service. iii. Selective de-marketing(less profitable markets) 8. Unwholesome Demand Consumers may be attracted to products that have undesirable social consequences. The marketing task is to organize activities eg. Fear messages, price hikes or reduced availability.
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What are some Core Marketing Concepts?
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The Concept of Exchange

At Least Two Parties Something of Value Ability to Communicate Offer Freedom to Accept or Reject Desire to Deal With Other Party
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Necessary Conditions for Exchange
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Exchange involves obtaining a desired product from someone by offering something in return.
A person can obtain a product by 4 ways Self Produce By Force Beg Exchange ( Core of Marketing )
Transaction A trade of values between two or more parties, involves at least two things of value, agreed-upon conditions, a time of agreement, and a place of agreement. Transfer A gives something to B but doesnt 4/14/2012 Marketing Management receive anything tangible inUnit 1 return.
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Customer Value
It is ratio between what consumer gets & what he gives
Value = Benefits / Costs
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Total Customer value Product value Service Value
Customer Delivered Value
Total Customer Cost Monetary cost Time cost
Personal value
Image value 4/14/2012
Energy cost
Psychic cost
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Customer Satisfaction
The feeling that a product has met or exceeded the customers expectations. Its related with how well the product performance lives up to customers expectation.
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Relationship Marketing
Maintaining satisfying and
Long term relationship With customers, partners,
Suppliers and other channel members.

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Relationship Marketings Importance
Attracting a new customer may be TEN TIMES the cost of keeping an old customer
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Evolution of Marketing
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EVOLUTION OF MARKETING

STATE OF SELF-SUFFICIENCY In this stage small families as production units aimed at selfsufficiency and they met all their own need for food, clothing and shelter. STAGE OF PRIMITIVE COMMUNISM In this stage the custom was that one who had more than others was to share his surplus with all others till every one had equal quantity. In a few societies, the person had no personal right to his acquisition. It had to be divided among the people in his village. In these two stages there was no exchange and hence no marketing. BARTERING STAGE In this stage a family or village could not meet all its needs and therefore had to take the surplus of what it produced in excess of its needs and entered into a bartering relationship with others. Thus, trade commenced due to the production of surplus.
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MONEY ECONOMY STAGE The emergence of money, a common medium of exchange, quickened the pace of trade. It gave a durable base for operation of local markets. In this stage, every product is being valued in the terms of money. STAGE OF CAPITALISM In the stage of early capitalism where production began not only for meeting the own and family needs but also for making profit. This gave the way for production centers and employment of people to facilitate the distribution of goods produced. The knowledge of marketing helps in understanding consumer needs, optimum utilisation of all resources, providing the most suitable product to consumer leading to better standard of living and economic growth. MASS PRODUCTION STAGE It was a result of development in population and improvement in transportation and communication. Large cities get formed. Increased use of capital equipment in jobs, availability and flow of funds through banks and a professional management spurred the growth of large scale enterprises.
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What are Various Marketing philosophies?
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product
Selling
Competing Concepts
Production
MARKETING
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SOCIETAL MARKETING
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1.Production Concept holds that consumers will prefer products that are widely available and inexpensive. Therefore, management should focus on improving production and distribution efficiency. This view point was developed in Says Law which states Supply creates its own demand (from the French economist Jean Baptiste Say.)To put it another way, If a product is made, somebody will want to buy it.
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Focused on high production efficiency, low cost and mass distribution. E.g China largest PC manufacturers Levono takes adv. Of the country inexpensive & huge labor pool . Useful in/if : competition is weak . Demand exceeds supply Developing countries, where customers are more interested in product rather then features. generic products competing on price
narrowly focused customer satisfaction, Poor quality, no market.

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2.Product Concept holds that consumers will favor products that offer the most in quality, performance, and innovative features. Thus, an organization should devote energy to make continuous product improvements. Technology Push Model.
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A General Motors executive said years ago: How can the public know what kind of car they want until they see what is available? But A new or improved product will not necessarily be successful unless the product is priced, distributed, advertised and sold properly Product oriented companies often design products with no or very little consumer input. They give more importance to products rather then consumers. If a organization is only focused in producing best desktop computers for customer without keeping in mind that customer is willing for portable solution such as laptop
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Henry Ford is the father of the production line. By developing an efficient assembly line, Ford was able to bring the cost of the Model T down from around $800 to just under $300, putting affordable transportation into the hands of average consumers in the United States. One of the best known slogans of the time, which Ford himself coined, was "You can have any color you want as long as it is black." Clearly, this slogan embodied the fundamental business philosophy -- the production concept -practiced by Ford at the time. After the automobile had been on the market for a period of time, consumer wants and needs with respect to cars changed dramatically. Consumers no longer wanted just basic transportation at an affordable price. The car became a major status symbol. It filled ego and social-communications needs for consumers. This translated into consumer demand for more body styles, different colors, different features, and a variety of new services. Ford did not anticipate and never really acknowledged this change in demand. General Motors, however, did . As a result, General Motors' sales by the end of the 1920s dramatically outstripped Ford's sales.
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The example of the Model T illustrates one situation where the production concept can work --when a product is in an early stage of its life cycle, as were automobiles at the turn of the century. Under these circumstances, consumers' wants and needs with respect of the new product are very basic. Consumers were mainly interested in affordable transportation at the time of the Model T -- a very basic, fundamental need. In this situation, companies can get away with producing a limited range of product variants to maximize production and distribution efficiency. This keeps costs and, therefore, prices in line. Eventually, however, the market matures. As with cars, consumers want more than just the basic product. Often, statusrelated wants and needs emerge and become dominant. The company that forgets to track these changing wants and needs, and still continues to practice the same business philosophy, will get itself into trouble.
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3. The Selling Concept holds that consumers will not buy enough of the firms products unless it uses a large-scale selling and promotion effort. Their aim is to sell what they make rather than make what the market wants.The concept is typically practiced with unsought goods those that buyers do not normally think of buying, such as insurance or blood donations,fund-raisers.
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4. The Marketing Concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do. Under the marketing concept, customer focus and value are the paths to sales and profits.
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Marketing concept is a customer-centered sense and respond philosophy. It views marketing not as hunting, but as gardening. The job is not to find the right customers for your product, but the right products for your customers The marketing concept starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers. In turn, it yields profits by creating long-term customer relationships based on customer value and satisfaction. The big names like Dell computers, Microsoft, Procter & Gamble truly practicing marketing concept which is win-win situation for both organization and customers
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DISNEY
Product Oriented--We run theme parks Marketing Oriented--We provide fantasies Product oriented-- We sell tools & home repair items Marketing Oriented--We provide advice & solutions to homeowners
HOME DEPOT
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5. The Societal Marketing Concept holds that the organization should determine the needs, wants, and interests of target markets. It should then deliver superior value to customers in a way that maintains or improves the consumers and the societys well-being. May be possible conflicts between consumer short-run wants and long-run welfare of consumer and society.
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The fast food industry offers tasty but unhealthy food with high fats, salts starch. The products are wrapped in convenient packaging, but this leads to waste and pollution. Thus, in satisfying short-term consumer wants, the highly successful fast-food chains may be harming consumer health and causing environmental problems Factors like pollution, population and health issues are the main societal issues which normally ignored in marketing concept.
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6. Holistic Marketing Concept is based on development, design and implementation of marketing programs, processes and activities that recognizes all interdependencies. It holds that everything matters" in marketing.
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a.Relationship Marketing has aim to build mutually satisfying long-term relationship with key parties like customers, suppliers, distributors etc. for making a strong marketing network.
b.Integrated Marketing Activities to create, communicate and deliver value to customers through diversified set of integrated activities eg. 4 Ps of Marketing.
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c. Internal Marketing It ensures that every one in the organization has role in marketing functions like sales force, advertising, customer service, product management, marketing research, hiring, pricing etc. c. Social Responsibility Understanding social, ethical, environmental & legal concern of society.
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Traditional Organisational chart
TM
CUSTOMERS
MM
FRONT LINE PEOPLE MM Modern Organisational chart

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FRONT LINE PEOPLE
TM
CUSTOMERS
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Marketing Sec A

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Marketing Sec A

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April 14, 2012

Marketing Management by Rajiv Jain

What do you understand from this image?

April 14, 2012

Marketing Management by Rajiv Jain

What these images communicate?

April 14, 2012

Marketing Management by Rajiv Jain

Why Marketing is an important function in a company?

April 14, 2012

Marketing Management by Rajiv Jain

Marketing Management Unit 1

Why do we need to learn Marketing ?

Marketing Management Unit 1

Can you sell these products Easily ?

Marketing Management Unit 1

How about these products?

Marketing Management Unit 1

How about them ? Can you Market them?

Marketing Management Unit 1

How about Their films ?

Marketing Management Unit 1

Why Marketing for cooperatives and Coop Products ?

Marketing Management Unit 1

Why Study Marketing?

Affects your life every day

Marketing Management Unit 1

Why Study Marketing?

Marketing Research Advertising Retail Buying

Marketing Management Unit 1

Why Study Marketing?

Half of every rupee spent by consumers pays for marketing costs

Become a better-informed consumer

Marketing Management Unit 1

What is Market and its types?

Marketing Management Unit 1

Marketing Management Unit 1

Marketing Management Unit 1

Marketing Management Unit 1

Marketing Management Unit 1

Marketing Management Unit 1

4.Non Profit & Government Markets-

Marketing Management Unit 1

Marketing Management Unit 1

Marketing Management Unit 1

Personal Selling? Advertising?

Making products available in stores?

Marketing Management Unit 1

Marketing Management Unit 1

Marketing Management Unit 1

Simple Marketing System

Marketing Management by Rajiv Jain

product price place promotion

April 14, 2012

Marketing Management by Rajiv Jain

The 4 Ps & 4Cs

Marketing Management by Rajiv Jain

Difference Between - Sales & Marketing ?

April 14, 2012

Marketing Management by Rajiv Jain

Marketing Management Unit 1

EXPERIENCES PLACES EVENTS

Marketing Management Unit 1