Mkting the New Challenges

8/14/2019 Mkting the New Challenges

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Marketing in a Changing

World

SAURABHASST. PROFESSOR

COLLEGE OF MANAGEMENT

SMVDU, KAKRYAL



What is Marketing?

• Process by which individuals andgroups obtain what they needneed andwantwant through creating and

exchanging productsexchanging products and valuewith others.

• More simply: Marketing is thedelivery of customer satisfaction at

a profit.



What is the Purpose of Marketing?

Satisfaction

• Functional Satisfaction• Psychological Satisfaction



Simple Marketing System

Money

Industry

(a collection

of sellers)

Market

(a collection

of Buyers)

Goods/services

Information

Communication



Conditions of Exchange

• There are at least two parties

• Each party has something of value to the other party

• Each party is capable of communication and delivery

• Each party is free to accept or reject the exchange offer

•Each party believes it is appropriate or desirable to dealwith the other party



ore Marketing Concepts

Productsand

Services

Value, satisfaction,and quality

Needs, wants,and demands

Exchange, transactions,and relationships

Markets

CoreMarketingConcepts



What Motivates a Consumer to Take Action?

• Needs Needs - state of felt deprivation for basicitems such as food and clothing andcomplex needs such as for belonging. i.e.I am thirsty

• WantsWants - form that a human need takes asshaped by culture and individual

personality. i.e. I want a Coca-Cola.

• DemandsDemands - human wants backed by buying

power. i.e. I have money to buy a Coca-Cola.



What Will Satisfy Consumer’s Needs and Wants?

• ProductsProducts - anythingthat can be offeredto a market for attention, acquisition,

use or consumptionand that mightsatisfy a need or want.

• Examples: persons,places,organizations,activities, and ideas.

• ServicesServices - activitiesor benefits offeredfor sale that areessentially intangible

and don’t result inthe ownership of anything.

• Examples: banking,airlines, haircuts,and hotels.



How do Consumers Obtain

Products and Services?

• ExchangesExchanges - act of obtaining a desired objectfrom someone by offering something in return.

• TransactionsTransactions - trade of values between parties.Usually involves money and a response.

• RelationshipsRelationships - building long-term relationshipswith consumers, distributors, dealers, andsuppliers.



Who Purchases Products

and Services?

Market - buyerswho share a

particular needor want that canbe satisfied by a

company’s productsor services.

ActualBuyers

PotentialBuyers



Modern Marketing System

Suppliers

End User

Market

Marketing

Intermediaries

CompetitorsCompany

(Marketer)

E n v i r o n m e

n t

E nvi r onm en t



Marketing Management

Marketing ManagementImplementing programs to create exchangeswith target buyers to achieve organizational

goals

Finding and increasing demand, alsochanging or reducing demand

Demand Management

Attracting new customers and

retaining current customers

Profitable Customer Relationships



The History of Marketing

• The Three Eras – The Production Era

– The Sales Era

– The Marketing Era

•The New Eras

-- Non-Business Marketing

-Strategic Marketing

-Social Responsibility

-International

-e-Commerce



Production Orientation• Focuses on internal capabilities of firm.

• “ Field of Dreams” strategy

–“If we build it, they will come”

• Best used when –competition is weak

–demand exceeds supply

–generic products competing solely on

price

• Problem is that they don’t understand

wants/needs of marketplace



Sales Orientation

• People will buy more goods/services if aggressive sales techniques are used.

• High sales will result in high profits.

• Used with unsought products

–life insurance

–encyclopedias• Problem is that they don’t understand

wants/needs of marketplace



Societal Marketing Orientation

• Organization exists not only to satisfycustomer wants/needs and to meet

organizational objectives, but also to

preserve and enhance individuals’ andsociety’s long-term best interests.

• Extends marketing concept to serve onemore customer - society as a whole.



Marketing

Management

PhilosophiesProduction Concept

Product Concept

Selling Concept

Marketing Concept

Societal Marketing Concept

• Consumers favor products that areavailable and highly affordable

•Improve production and distribution

•Consumers favor products that offer the most quality, performance, and

innovative features

•Consumers will buy products only if the company promotes/ sells these

product

•Focuses on needs/ wants of target

markets & delivering satisfactionbetter than competitors

•Focuses on needs/ wants of targetmarkets & delivering superior value

•Society’s well-being

Mkting the New Challenges

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