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MANAGEMENT
MODULE -1
Question:
Consumer satisfaction.
Why is the subject “ Marketing” important
for this course?
The essence of any managerial process is to achieve
organisational objectives by satisfying the needs of the
customer
Marketing is the specialised tool by which the customer and
his needs are first of all identified and the necessary
managerial functions are adopted to satisfy the needs .
Customer behaviour,objectives and customer relationship
management are critical for any organisation whether they are
in the supply of products or services
Most systems and operational management techniques are
associated with management of marketing or sales
management.
Importance of marketing in Modern
Business
Marketing was once only a Company department performing a staff function
Marketing is now the driving force of all modern organisations and business.
Marketing preceeds all management activities of a new organisation or in the
introduction of a new product or market.
With the advent of the Internet and the resulting information revolution
,marketing has become the most important function in customer relationship
management.Most Companies survive and grow by using the existing
customers instead of trying to find new ones.
Internet has made the customers very aware of the competition and have
made them extremely price sensitive.Marketing has to be very Sophisticated
to meet this factor head-on.
IMPORTANCE OF MARKETING IN THE
GLOBAL ECONOMY
Nations depend upon marketing to sell their raw materials
and industrial output to other countries
Goods Places
Services Properties
Experiences
Organizations
Events
Information
Persons
Ideas
Who Markets
A Marketer is someone who seeks response (attention, a
purchase, vote etc.) from other party called the prospect.
Popular definitions of Marketing
1)“Marketing is the task of creating, promoting and delivering
goods and services to consumers and businesses”… Philip Kotler.
Philip Kotler is regarded as the father of Marketing, he adds” It is
not enough to satisfy customers, you should delight them”.
However the stress is on to sell what the industry has and not
what the customer needs
Marketing Concept
Societal
Societal
Marketing
Marketing
Concept
Concept
Consumers
Consumers Company
Company
(Wants)
(Wants) (Profits)
(Profits)
Marketing
Marketing &
& Sales
Sales Concepts
Concepts
Contrasted
Contrasted
Starting Focus Means Ends
Point
Selling Profits
Existing
Factory and through
Products
Promoting Volume
The
The Selling
Selling Concept
Concept
Profits
Customer Integrated
Market through
Needs Marketing
Satisfaction
The
The Marketing
Marketing Concept
Concept
Customer concept
Relationship marketing.
Selling Vs marketing
Selling Marketing
Needs, wants,
and demands
Markets Products
and services
Exchange, Value,
transactions, satisfaction,
and relationships and quality
What are Consumer’s Needs, Meeting Consumers’ Needs,
Services - activities or
Products - anything benefits offered for
that can be offered to sale that are
a market for attention, essentially intangible
acquisition, use or and don’t result in the
consumption and that ownership of anything
might satisfy a need
or want.
How Do Consumers Choose Among
Products and Services?
Value Gained From Owning a Product and
Costs of Obtaining the Product is
Customer Value
Exchanges Transactions
Relationships
Building a Marketing
Network Consisting of
The Company and All
Its Supporting
Stakeholders
How
How do
do Consumers
Consumers Obtain
Obtain
Products
Products and
and Services?
Services?
Exchanges - act of obtaining a desired object from someone by
offering something in return. This stage includes offering
something, discussing the mutually beneficial and acceptable
terms and trying to arrive at mutually agreeable terms.
Market –
a place where Actual
Ethical to
F
rs
c
a
S
a n
o
itu
l Buyers
buyers and U
td
p
n
x
ec
sellers
Meet to buy
or
Attitudes
of Potential
sell products
Others Buyers
.
Classification of Markets
Resource market
Banks, raw material sellers, labour
Manufacturer market
a market which is involved in the production of
goods for resale
Intermediary market
Sells goods made by the manufacturers to the
consumers
Government market
Provides public service, collects tax revenue, buys from
manufacturers or intermediary markets
Consumer market
Companies selling mass consumer goods and services.
Companies spend a huge amount of time and money to build
superior brand image.
Global Markets
Markets across political boundaries. Marketers must decide which
countries to target,how to adapt their products and
communications and how to price them…etc
Market place… Market space….
Meta market
Market place can be a physical entity (market-
store, supermarket etc)
Suppliers
Suppliers
Company
Company
Competitors
Competitors (Marketer)
(Marketer)
Environment
Environment
Marketing
Marketing
Intermediaries
Intermediaries
End
End User
User
Market
Market
Marketing mix
Set of controllable, tactical, marketing
tools that the firm blends to produce the
response it wants in the target market
The Four Ps of the Marketing
Mix
Product Place
C
Price Promotion
2-11
The Marketing Mix
To achieve the company’s objective a marketing program based
on the most suitable marketing mix will be drawn up.
Marketing mix is made up of the following factors:
Product
Goods and services offered by a company to the target market, to satisy
needs and wants
The different physical attributes of the products such as design, features,
quality, brand name, usage etc
Price
Money value that the consumers have to pay to buy the product or service
Discounts, allowances, payment periods, credit facilities
Continued…
Place
Physical distribution activities through which the product moves from the
factory to the customer
Include the aspects of Channels, Coverage (extent), Location, Transport,
inventory and Logistics management
Promotion
Sales
Promotional Mix Promotion
Public Relation
Publicity
Direct
Marketing
THANK YOU