Chapter 1 - Importance of Marketing.pptx

Importance of Marketing

1. Introduction to Marketing M a n a g ement

2. What Is Marketing “Meeting Needs Profitability” Marketing is an organizational function and set of processes for creating, communicating & delivering value to customers and for managing customer relationships in ways that benefit the organization & its stakeholders

3. What is Marketing Management The art and Science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value

4. Marketing Concept Production Concept Service Concept Selling Concept Product Concept Marketing Concept Holistic Concept Internal Marketing Integrated Marketing Relationship Marketing Performance Marketing

5. Modern Marketing Every Employee is a Marketer Internal Communication Experience Concept Green Marketing

6. Factors Influencing Marketing Conce pt Growth of Population Changing Concept of Family More Disposable Income More Discretionary Income Technology Advancement Media Credit Facility

7. Nature Of Marketing 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 It is a Philosophy based on consumer orientation and satisfaction It has dual objectives- Profit Making and Consumer Satisfaction

8. Marketers are involved with marketing ten types of entities : Services Events Experiences Persons Places Properties Organizations Information Ideas Physical Goods Scope Of Marketing

9. Who Markets Marketers and Prospects Eight Demand states are possible Negative Demand Nonexistent Demand Latent Demand Declining Demand Irregular Demand Full Demand Overfull Demand Unwholesome Demand Scope Of Marketing

10. Study of Consumer wants and needs Study of Buyer Behavior Product Planning and development Pricing Policies Distribution Promotion Consumer Satisfaction Marketing Control Scope Of Marketing

11. What is a Market Markets includes both place and region in which buyers and sellers are in free competition with each other

12. Classification of Market s On the basis of Area On the basis of Time On the basis of Transaction On the basis of Regulation On the basis of volume of Business On the basis of Nature of Goods

13. D i f fere n c e B et w e e n M a rke t i n g a n d S e ll i ng Marketing Selling Focuses on Customer Needs Focuses On Sellers Needs Begins before Production Begins after Production Continues After Sales Comes To an End after sale of Product Philosophy of Business Routine Process Profits through customer satisfaction Profits through Sales Volume Long Term Perspective Short Term Perspective Customer First Product First

14. M ar k e t i n g M a na g em e n t T a s ks Developing Marketing Strategies and Plan Capturing Marketing Insights Connecting with Customers Building Strong Brands Shaping the Market offerings Delivering Value Communicating Value Creating Long Term Growth

15. Marketing Environment Factors which affect Marketing Environment:- Social Forces Sociological Factors Psychological Factors A n t hr o p ol o g i c al F a c to r s Economic Factors Consumer Competition Price Political Forces Ethical Forces Physical Forces Technological Forces

16. Marketing Environment contd….. Macro Environment Demographic Factors Economic Factors Competition Social and Cultural Forces Political and Legal Forces Technology Micro Environment Market Suppliers Marketing Intermediaries

17. 5 C’s of Marketing Company Collaborators Customers Competitors Climate

18. STP Marketing Model The STP Marketing Model can help you to analyze your product offering and the way you communicate its benefits and value to specific groups . STP stands for: S egment your market. T arget your best customers. P osition your offering . The model is useful because it helps you to identify your most valuable types of customer, and then develop products and marketing messages tailored to them. This allows you to engage with each target group more effectively, personalize your messaging, and – ultimately – increase your sales.

19. 4 P’s of Marketing