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Course Objectives
This is an introductory course emphasizing
on fundamentals of marketing concepts
and practices applicable to business
organizations. The framework has been
designed to assure groundwork for the
further specializations in the functional
areas of marketing management.
Topics
Introduction to Marketing
Marketing Segmenting, Targeting
Introduction of Product, Product Positioning & Brand building
Promotion & advertising
Pricing & Distribution
Marketing of Industrial Product also called (B2B)
Marketing Services
Sales and Field force Management
Presonal Selling
Case Study & Assignment
Text Book
Introduction to Marketing
To prepare to be a marketer,
one needs to understand
- Philip Kotler
Some more Definitions:
“Marketing is an organizational function
and a set of processes for creating,
communicating and delivering value to
customers and for managing customer
relationships in ways that benefit the
organization and its stake holders”
-- American Marketing Association
Some more Definitions:
William Stanton: “Marketing is a total
system of business activities designed to
plan, price, promote and distribute want-
satisfying products to target markets to
achieve organizational objectives.”
Features/Characteristics
of Marketing
Regular and continuous activity
Facilitates satisfaction of human
wants
Relates to goods and services
Brings transfer of ownership
Creates utility
Features/Characteristics
of Marketing
Wider socio-economic
significance
Importance of 4 Ps
Evolutionary concept
Precedes and follows production
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 deal with the other party
Adding Degrees of
Satisfaction
o n Possession utility To
t i tal
ac Sa
ti sf Place utility tis
S a f ac
t al ti on
To Time utility
Form utility
Oriental rug
Store has it in
stock
Delivered to your
home
Pay with your VISA
card
4 P’s of Marketing
Importance of
Marketing
Business Organization
Accomplishment of Objectives
Widens Markets
Reputation
Develop Brand Loyalty
Introduce New Products
Face Competition
Growth and Stability
Economization of storage
Decision Making
Consumers and Society
Qualityproducts
Reasonable Prices
Higher Standard of Living
Creation of utility
Spread effect
Economic Growth and Prosperity
Core Concepts of Marketing
Target
Target Markets
Markets &
& Segmentation
Segmentation
Needs, Wants, and Demands
Product
Product or
or Offering
Offering
Value
Value and
and Satisfaction
Satisfaction
Exchange
Exchange and
and Transactions
Transactions
Relationships
Relationships and
and Networks
Networks
Marketing
Marketing Channels
Channels
Supply
Supply Chain
Chain
Competition
Competition
Marketing
Marketing Environment
Environment
Simple Marketing System
Communication
Goods/services
Industry Market
(a collection (a collection
of sellers) Money of Buyers)
Information
Structure of Flows Resources
Resources
Money Resource Money
markets
Services,
money Taxes,
goods
Services, Taxes
money
Manufacturer Government Consumer
markets markets markets
Taxes,
goods Services
Services, Taxes,
money goods
Money Money
Intermediary
Goods, services markets Goods, services
Traditional Organization
Chart
Top
Management
Middle Management
Front-line people
Customers
Customer-Oriented
Organization Chart
Customers
Front-line people
Middle management
s
C
er
us
om
t
Top
om
t
us
manage-
er
C
s
ment
Evolving Views of
Marketing’s Role
Finance
Production
Production Finance
Human
resources
Marketing Human
resources Marketing
Production on
cti
Fi
du
na
ro
nc
P
e
Marketing Customer
re
Hu ur
ce M
so
ur an
n ar
s
ma ces
ce
ke
so m
in tin
F
re Hu
n
Marketing
Customer
re
Hu ur
so
e
m ces
n c
an
n a
Fi
Supply of Goods
Producers Consumers
Money Flow
Company Orientations
Towards the Marketplace
( Concepts of Marketing)
Product Excellence
Producers
Products with Consumers
Better quality Likes & Dislikes
& performance considered
Better Quality attracts
Company Orientations
Towards the Marketplace
( Concepts of Marketing)
Producers
Consumers
Company Orientations
Towards the Marketplace
( Concepts of Marketing)
Society
Producers Consumers
Large Scale Goods,
Production Imposed
Company Orientations
Towards the Marketplace
( Concepts of Marketing)
Holistic
Marketing
Socially
Relationship
Responsible
Marketing
Marketing
Internal Marketing
Marketing Department
Senior Management
Other Departments
Integrated Marketing
Communication
Products and Services
Channels
Relationship Marketing
Customers
Channel
Partners
Socially Responsible
Marketing
Ethics
Environment
Legal
Framework
Community
Relations between a business firm and its
primary stakeholders
Employees
(Unions) Stockholders
Wholesalers Distribute Sell
(Retailers) products labor
Invest
Business capital
Customers Sell
materials
Suppliers
Relations between a business firm and some of
its other (secondary) stakeholders
Local
The Communities Central/State
General Positive, and Local
Public negative Jobs, Governments
opinion environment
Regulation,
Advice, Business taxes
Business research
Support Firm Governments
Image, Friendly,
Groups
publicity (Managers) hostile
Social Social
Media demands Activist
Groups
Selling and
Marketing
Selling Marketing
• Selling starts with • Marketing starts
seller & is with the buyer and
preoccupied all the focuses constantly
time with the on the needs of the
needs of the seller buyer
• Emphasizes on
saleable surplus • Emphasizes on
available with the identification of
company market opportunity
Selling and
Marketing
Selling Marketing
• Seeks to convert • Seeks to convert
products in to cash customer needs in
to products
• Views business as – • Views business as –
goods producing a customer
process satisfying process
• Selling views the • Marketing views
customer as the the customer as
last link in the the very purpose of
business business
What is Marketed?
Goods
Services
Events
Experiences
Persons
What is Marketed?
Places
Properties
Organizations
Information
Ideas
Changing face of Marketing
Changing Technology
Globalization
Deregulation
Privatization
Customer Empowerment
Changing face of Marketing
Customization
Heightened Competition
Industry Convergence
Retail Transformation
Online Selling
Shifts in Marketing
Management
From marketing does marketing to
everyone does the marketing
From organizing by product units to
organizing by customer segments
From making everything to buying more
goods and services from outside
From using many suppliers to working
with fewer suppliers in a “Partnership”
Shifts in Marketing
Management
From relying on old market positions to
uncovering new ones
From emphasizing tangible assets to
emphasizing intangible assets (brands,
customer base, employees, distributors
and supplier relations and intellectual
capital)
From building brands through advertising
to building brands through performance
and integrated communications (IMC Mix)
Shifts in Marketing
Management
From attracting customers through stores
and salespeople to making products
available online
From selling to everyone to trying to be
the best firm serving well defined target
markets
From focusing on profitable transactions
to focusing on customer lifetime value
Shifts in Marketing
Management
From a focus on gaining market share to a focus
on building customer share
From being local to being “Glocal” – both global
and local
From focusing on the financial scorecard to
focusing on the marketing scorecard (market
share, customer loss rate, customer satisfaction,
product quality etc)
From focusing on shareholders to focusing on
stakeholders