Principles of marketing mba 1st sem by babasab patil (karrisatte)

Principles of Marketing

Presented By:-

Babasab Patil

2/13/2014 Babasabpatilfreepptmba.com 1

Module : I

Introduction to Marketing

What is Marketing?

Marketing is a social and managerial process by

which individuals and groups obtain what they

need and want through creating and

exchanging products and value with others

In other words:

Marketing is creating, Developing, Communicating and

Delivering goods and services to the ultimate customer

to satisfy their need and reaching organizational goal

profitably

Definition

According To AMA:

“Marketing is an organizational function and a

set of processes for creating, communicating,

and delivering value to customers and for

managing customer relationship in ways that

benefit the organization and stake-holders”

Importance of Marketing

“Change or Die”

Sony Walkman, - completely changed the

way people listened to music.

Gillette Mach III

Ex: Tile: Search My Stuffs

Apple iphone 5S and 5C

Ford Ecosportz

What is Marketed? Goods--------------- ?

Services------------- ?

Events---------------

Experiences ------- (Wonder la)

Persons-------------- ?

Places---------------- (Tourism)

Properties----------- ?

Organizations------ ? ( ads in the CSR sense, Philips‟ tagline, „let‟s make things better‟

Information---------- ?

Ideas (Eg Charles Revson of Revlon said : in the

factories we make cosmetics, in the shops we sell hope)

Who Markets?

Marketers and Prospects

Who are the Key Customer Markets

Consumer Market

Business market

Global Market

Non Profit Organizations and

Governmental Markets

How Business And Marketing Are Changing Changing Technology

Globalization

Deregulation

Privatization

Customer Empowerment

Customization

Heightened Competition

Industry Convergence

Retail Transformation Disintermediation-Flipkart, eBay etc 2/13/2014 Babasabpatilfreepptmba.com 16

Core Marketing Concepts

1. Needs, Wants, and Demands

2. Products and Services

3. Segmentation, Target Markets, and Positioning

4. Offerings and Brands

5. Value and Satisfaction

6. Marketing Channels

7. Supply Chain

8. Competition

9. Market Environment

10. Marketing Planning

Company Orientation Towards the

Marketplace

The Production Concept

The Product Concept

The Selling Concept

The Marketing Concept

The Societal Concept

Production concept :

Concentration on high production efficiency and wide

distribution coverage

Demand is assumed

Sales taken for granted if product is made available

cheaply

Seller‟s market – manufacturing takes precedence

over marketing

Product concept

Focus on quality, performance, features

Company concentrates on making good quality

products and improving them over time

Emphasis changed from price to features or

value Still passive

Selling concept

Left to itself, no sale, so aggressive selling

required

Active engagement with the market

Both soft sell and hard sell

Marketing concept :

Key to achieving organizational goal is

matching needs between needs of target

market and effective and efficient delivery

Satisfactory transaction

Holistic Marketing concept

„Everything matters with marketing‟

Development, design and implementation

of marketing programs, processes and

activities, their scope and interdependency

Holistic Marketing

Social Responsibility Marketing

Marketing responsibility beyond the customer

to encompass society as a whole

What is

Marketplaces

Marketspaces

Metamarkets

Shifts in Marketing Management

Successful companies- change marketing with

changes in marketplace/ Marketspace

From, „Marketing does Marketing‟ to „everyone does

Marketing‟

From product to customer segmentation

From in-house manufacturing to outsourcing

Many vendors to a few biz partners

From old marketing positions to discovering new

From tangible assets to intangible properties

From brand-building thru advertising to brand-

building thru performance, value creation and

integrated communication

From physical to online

From mass to niche

From profit to customer lifetime value

From market share to customer share

From local to „global‟

From financial scorecard to marketing

scorecard

From share-holders to stake-holders

Marketing Management Tasks

Development Marketing Strategies and Plans

Capturing Marketing Insights

Connecting With Customer

Building The Market Offering

Delivering Value

Commutation Value

Creating Long-Term Growth

Selling Versus Marketing

Production

Capacities

Manufacturing

Products

Aggressive

Sales Efforts

Aim at

Customer

as a Target

Potential

Marketing

Opportunities

Production

Capabilities

Market

Products/

Services

Actual Wants/

Needs of

Potential

Customers

Marketing

Program

Customer

2/13/2014 Babasabpatilfreepptmba.com

Marketing Orientation

Customer Focus - Understand needs, create value,

and serve to assure customer satisfaction, with

inter-functional teamwork

Competitor Focus - Seek advantages relative to

competitors, monitor behavior and respond to

strategic moves (foes or friends)

Profit Focus - Manage to assure short- and long-

term profitability

Marketing Process

Define

Problem

Analyze

Market (Environment,

Competition,

Strength,

Weakness,

Needs/Interests

of Defining

Segments

Select Segment (s): Profitability, Fit with

Company/Product/Market

Develop

Marketing

Program (Set strategies

for Product,

Pricing,

Promotion and

Distribution)

Improve

Program

Evaluate

Program

Industry

(a collection

of sellers)

Market

(a collection

of Buyers)

Goods/services

Communication

Information 2/13/2014 Babasabpatilfreepptmba.com 36

Customers

Front-line people

Middle Management

Management

Traditional Organization Chart

Customer-Oriented Organization Chart

Customers

Front-line people

Middle management

manage-

Relationship marketing

Enduring relationships with all key parties,- suppliers,

customers, distributors and other partners

Not just CRM but PRM

Objective,- to build a unique asset called marketing

network, profits will follow

Supply chain

1.Raw materials to components to finished product to buyer

2. Supply chain represents a value delivery system

3. Each company on the value chain captures only a small portion

of the value generated by the supply chain

Competition

1. Others with similar rival offerings

2. Substitutes

Marketing Environment

Common Marketing Problems

How can we measure the effectiveness of an add

campaign, of Public Relations, of a promotion, etc…?

How can we satisfy our customers and build brand loyalty?

Babasabpatilfreepptm

ba.com

How can differentiate our offer from our

competition?

2/13/2014 46

How should we react to competitors?

How can we identify and choose profitable market

segments?

Maslow’s Hierarchy of needs

Thank you

Principles of marketing mba 1st sem by babasab patil (karrisatte)

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