Marketing Management-I

Marketing Management-I:

Marketing Management-I Anuradha Dogra

“What fails to change, fails to survive”:

“What fails to change, fails to survive” What is marketed? Goods Services Events Experiences Persons Places Properties Organisations Information idea

Slide 3:

Market The circle of exchange Body of sellers

“Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others”.-Philip Kotler:

“Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others”.-Philip Kotler Value: it is the consumer’s estimate of the products overall capacity to satisfy his or her needs. Customer delivered value= Total customer Value – Total Customer Cost Satisfaction: it is a function of perceived performance and expectation, based upon past experience.

Nature of Marketing:

Nature of Marketing Ends and starts with consumers Objective is profit maximisation through consumer satisfaction Integrated process Must deliver goods and services in exchange of money Important function of management

Scope of Marketing:

Scope of Marketing Functions of exchange i) buying function ii) Assembling Function iii) Selling Function Functions of Physical Distribution i) Transportation ii) Inventory Management iii) Warehousing iv) Material Handling Functions of Facilities i) Financing ii) Risk taking iii) Standardization iv) After sale Services

Evolution of Marketing:

Evolution of Marketing Production Orientation (1930s) “Good wine needs no push” Good product Good Sales Sales Orientation Philosophy(1940s) “Goods are not bought but sold” Product Promotion Sales Customer Orientation(1950s) Customer Marketing research Product Sales promotion Sales Social Orientation (1970s – 1980s) customer MR Product SP Sales

Philip Kotler :-:

Philip Kotler :- It is the analysing, planning, implementation and control of programmes designed to bring about desired exchanges with large audiences for the purpose of personal or mutual gain. It relies heavily on the adaptation and coordination of product-price-promotion and place for achieving effective response.

Distinct Concepts of Marketing:

Distinct Concepts of Marketing Exchange concept Production concept Product concept Selling concept Marketing concept Holistic concept

MARKETING MIX:- The set of marketing tools the firm uses to pursue its marketing objectives.:

MARKETING MIX:- The set of marketing tools the firm uses to pursue its marketing objectives. McCarthy PRODUCT PRICE PLACE PROMOTION Robert Lauterborn Customer Solution Customer Cost Communication Convenience

Functions of Marketing Management :

Functions of Marketing Management Assessing the marketing opportunity Planning the marketing activities Providing effective marketing organisation Actuating by leadership Motivating the human-side Evaluating and adjusting marketing efforts.

Significance of Marketing Management:

Significance of Marketing Management Real increase in national income Change in living standards Introduce creative and innovative products Integrated business activities Provides employment opportunities Creates awareness Marketing converts latent demand into effective demand