Marketing 2003
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Transcript of Marketing 2003
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Marketing is understood as selling of products or services. It essentially is related to customer satisfaction.
The identification of consumer’s requirements (need, wants, demand)from the basis of marketing
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Basis of Classification Geographical Area Product Nature of Transaction Volume of Transaction
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Selling Marketing
Selling is Product focused Marketing is customer focused
Selling is oriented to the needs of the seller (the firms)
Marketing is oriented to the needs of the buyer (the customers)
Selling encashes profitable opportunity
Making converts customer needs to such opportunity
Selling aims at earning profits by maximising sales volume
Marketing aims at earning profits by maximising customer satisfaction
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It is the process of planning and executing the conception, pricing, promotion and distribution of goods and services
It encompasses the entire range of activities.
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Analysis Planning Implementation Control
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Characteristics of Physical Products Tangibles Homogeneous Core value produce in factory Can be stored Transfer of ownership possible
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Characteristics of Physical Products
Intangibility Inseparability Heterogeneity Perishability
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Marketing mix is the set of marketing tools that a firm uses to purchase its marketing objectives in the target market.
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These tools called the 4 P’s Product Price Place (i.e. distriution) PromotionBoos and Bitner suggested a “7 P” of
Marketing mix model.In addition there are three mote sets, viz. People Physical evidence Process
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4 Ps Product Price Place Promotion
4 Cs Customer needs and
wants Cost to the customer Convenience communication
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Physiological needs Safety needs Social needs Esteem needs Self-actualisation
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A Product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
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Core features Associated features Brand name and logo Package and lebel
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Core benefit Basic Product Expected Product Augmented Product Potential Product
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IntroductionGrowthMaturityDecline
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Based on Product Mix Based on Product Life Cycle
Some major strategies are : Product Modification Product Elimination Diversification
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Branding Packaging Labelling
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Line Extention Brand extantion Multi-brands New Brands Co-branding
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Primary package Secondary package Shipping package
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Direct Channel Indirect Channel
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Zero Level One Level Two Level Three Level
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