Slide 1: Nature and
Scope of Marketing Definition : Definition Marketing:
“The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.” American Marketing Association “official” old definition Nature of Marketing : Nature of Marketing Marketing is an economic function of exchange.
It is a legal process by which ownership is transferred.
It is a system of interacting business activities.
It is a managerial function of organizing and directing business activities that facilitates the movement of goods from producers to consumers. (cont.) : (cont.) It is a philosophy based on consumer orientation and satisfaction .
It has dual objectives – profit making & consumer satisfaction .
It is a social process by which the society gets goods and services
for the satisfaction of needs . Scope Of Marketing : Scope Of Marketing Study of consumer wants and needs.
Study of buyer behavior.
Product planning and development.
Consumer satisfaction .
Marketing control. Study of Consumer wants and needs : Study of Consumer wants and needs Goods are produced to satisfy human wants. Therefore the marketer has to study the wants and needs of consumers. These wants and needs motivate consumers to purchase goods and services
Study of Buyer Behaviour
Modern marketing emphasises on the study of buyer behaviour. Analysis of the behaviour pattern of the customers is helpful for market segmentation and targeting. Product Planning and Development : Product Planning and Development Product is the core of marketing . Product planning and development starts with the generation of product idea and ends with the development and commercialisation of the product. Product planning covers the decisions like branding ,packaging ,labelling ,grading etc. and expansion or contraction of existing product lines DISTRIBUTION : DISTRIBUTION Study of marketing channels is one of the major areas of marketing . Goods are to be distributed at the minimum possible cost,to the largest number of consumers. Thus suitable distribution channels should be selected
It includes advertising,sales promotion and personal selling.these promotional activities are very essential for the accomplishment of marketing goal CONSUMER SATISFACTION : CONSUMER SATISFACTION In the modern world consumer is the king. The consumers determine what should be the business and where it should be prosper. Thus every marketer should importance to consumer satisfaction. In other words consumer satisfaction is one of the major goals of marketting
Marketing also covers marketing control through marketing audit and annual reports. APPROACHES OF MARKETING : APPROACHES OF MARKETING TRADITIONAL APPROACH : TRADITIONAL APPROACH The objective of traditional marketing is profit maximisation
Traditional marketing was sales-oriented and not consumer oriented.
It gave emphasis to products.
It was concerned with the transfer of ownership.
It gave emphasis to physical movement of goods. Modern Approach : Modern Approach Modern marketing is consumer oriented.
Modern marketing starts and end with the consumer
Modern marketing starts before production
Modern marketing is the guiding element of business. Slide 13: Presented by ,
AHAMED ALI JAMSEER M
Reg no: 0905250 THANKS…..