Marketing
Management
PIET
Syllabus
Marketing: Meaning, Nature, Scope, Evolution and Importance.
Modern concept of marketing.
Ethics in marketing. Role of Information Technology in marketing.
The dynamic marketing Environment.
Marketing Mix and STP (Segmentation, Targeting and Positioning)
Marketing
Information System: Concept and Components of a marketing
information system.
Marketing Research: meaning, scope and techniques.
Consumer Behavior: meaning and importance, buying motives,
buying process, factors influencing consumer behavior.
Product decisions: concept, classification, product-line decisions.
New product development process, product life cycle,
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Syllabus
Packaging and Branding decisions.
Pricing Concepts: objectives, policies and procedures, factors
affecting pricing, pricing strategy and product life cycle, price changes
and organizational strategies, product line pricing.
Integrated Marketing Communication: Promotion-Mix; Advertising,
sales promotion, public relations, personal selling and direct
marketing.
Channels of distributions: Concept, types and factors affecting
channel selection.
Recent developments in marketing.
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Father of Marketing
Philip Kotler (born May 27, 1931) is
an American marketing author,
consultant, and professor, currently,
Professor of International Marketing
at Kellogg School of Management at
North-Western University.
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What is Marketing ?
Marketing, in general sense, means managing
profitable customer relationships.
It is a process by which:
Companies: Create value for customers & build
strong relationship
Why?
In order to capture value from customers
(Increased sales, profit margin, market share
and share of customer).
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Marketing
“The management process responsible for
identifying, anticipating and satisfying customer
requirements profitably.”
-Chartered Institute of Marketing
“Marketing in the 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
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Marketing Management
Management of Marketing Activities.
It means marketing management is
carrying out those activities by the
management which aims at increasing
customer satisfaction and
to maximize the profits.
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What is Marketed?
Goods ●
Eggs, Steel, Hair Dryers Clothing
Service ●
Airlines, Hotels, Maintenance & Repair
Events ●
Trade Shows, Sports Events
Experiences ●
Kingdom of Dreams
Persons ●
Musicians, CEOs
Places ●
Cities & Nations Compete to Attract Tourists, Factories
Properties ●
Intangible Rights (Real Estate, Stocks and Bonds)
Originations ●
Org Making Their Brand : Apple
Information ●
Encyclopaedias, Books ,Web sites
Ideas Products and Services are Platforms for Delivering Some Idea or Benefit to Satisfy a Core Need.
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Who Markets?
Marketers and Prospects
Marketer is someone who seeks a response-
attention a purchase, a vote, a donation- from
another party, called prospect.
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Markets
A market, or marketplace, is regular gathering of
people for the purchase and sale of provisions,
livestock, and other goods. A place where buying and
selling occurs.
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Market…
Market the set of all actual and potential
buyers of a product or service.
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Customer Needs, Wants, and Demands
●
States of deprivation
Needs Physical—food, clothing, warmth, safety
●
●
Social—belonging and affection
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Individual—knowledge and self-expression
Form that needs take as they are shaped by culture and individual
●
Wants personality (Exp. American needs food but want a bugger, French
fries and soft drink. An Indian needs food but want Parata, Rice
and Dal. )
●
Wants backed by buying
Demands power
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Needs
Wants
Demand
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Market Offerings-Products, Services, and
Experiences
Consumers’ needs and wants are fulfilled through a market offering- some
combination of:
Products,
Services,
Information,
Experiences,
Events,
Persons,
Places,
Properties,
Organisations,
Ideas.
offered to a market to satisfy a need or want.
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Market Offerings-Products, Services, and
Experiences…
Marketing myopia is focusing only on existing
wants and losing sight of underlying
consumer needs.
They forget that a
product is the only tool to
solve a consumer problem.
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Customer Value & Satisfaction
• Customer form expectations about the value and
satisfaction that various market offerings will deliver
and buy accordingly.
Customers
Value and
satisfaction
Marketers
Set the right level
of expectations
Not too high or low
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Customer Value & Satisfaction…
• Red bull energy drink helps you fight mental and
physical fatigue. It captures a major share of the
energy drink market by promising .
“It gives you wiiings!”
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Exchange & Relationships
Exchange the act of obtaining a desired object
from someone by offering something in return.
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Marketing Management Orientations
What philosophy should guide these marketing
strategies? There are 5 alternative concepts:
Producti Marketi
Product Selling Societal
on ng
concept concept concept
concept concept
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Marketing Management
Orientations …
Production concept (Old Concept)
is the idea that consumers will favor products that are
available or highly affordable.
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Marketing Management
Orientations …
Product concept (Old Concept)
is the idea that consumers will favor products that offer
the most quality, performance, and features.
Organization should therefore devote its energy to
making continuous product improvements.
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Marketing Management
Orientations …
Selling concept (Old Concept)
is the idea that consumers will not buy enough of the
firm’s products unless it undertakes a large scale selling
and promotion effort.
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Marketing Management
Orientations …
Marketing concept (Modern Concept)
is the idea that achieving organizational goals depends
on knowing the needs and wants of the target markets
and delivering the desired satisfactions better than
competitors do.
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Marketing Management
Orientations …
Societal marketing (Modern Concept)
concept is the idea that a company should make
good marketing decisions by considering
consumers’ wants, the company’s requirements,
consumers’ long-term interests, and society’s
long-run interests.
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Marketing Management
Orientations …
Three Consideration Underlying the Societal Concept
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Deference B/w Old &
Modern Concept of Marketing
Basis Old Concept New Concept
Orientation Production Customer
Scope Narrow Broad
Aim Earn profits throughEarn profits through
increased sales customer
satisfaction
Integration All departments are All activities are
independent directed by
marketing dept.
Principle Seller Awareness Buyer Awareness
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Marketing Management Orientations …
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Evolution of Marketing
• Evolution of Market, Marketing & Trade
The fundamental reason why markets and marketing
developed is attributable to three primary conditions:
• Scarcity of Raw Materials
• Specialisation of Labour
• Consumption Satiation
(to supply with anything to excess)
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Stages of Marketing Evolution
Marketin
Productio
Marketin
Productio
Sales
Sales Era
Era Era
gn Era
gn
R
el
a
ti
o
ns
hi
p
Er
a
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Nature of Marketing
• Customer Focused
• System
• Exchange Process
• Guiding Element
• Surrounded by Customer Needs
• Science as well as art
• Creates Mutually-beneficial relationship
• Part of Total Environment
• Goal –Oriented
• Process
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Scope of Marketing
Goods ●
Eggs, Steel, Hair Dryers Clothing
Service ●
Airlines, Hotels, Maintenance & Repair
Events ●
Trade Shows, Sports Events
Experiences ●
Kingdom of Dreams
Persons ●
Musicians, CEOs
Places ●
Cities & Nations Compete to Attract Tourists, Factories
Properties ●
Intangible Rights (Real Estate, Stocks and Bonds)
Originations ●
Org Making Their Brand : Apple
Information ●
Encyclopaedias, Books ,Web sites
Ideas Products and Services are Platforms for Delivering Some Idea or Benefit to Satisfy a Core Need.
●
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Importance of Marketing
To the society
• Employment of Various Persons
• Availability of Various Products For Use
• Increase in the National Income of Country
• Protecting the Economy Against the Evil Effects of Depressions
• Increase in the Standard of Living
To the firm
• Helpful in Earning More Profits
• Getting Information Regarding Demand
• Reduction in Distribution Costs
• Helpful in Production Planning
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Activities
Develop one Idea about a product/ service after
recognizing the need of the market with the
reasonable justifications.
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