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1. Marketing??? Is it all about telling and selling (Advertising and Selling) ? Or It is more than just telling and selling!!!

2. Introduction to Marketing Marketing is the management process that identifies, anticipates and satisfies customers requirements profitably ~ The Chartered Institute of Marketing (UK) “The core business philosophy that directs the processes of identifying and fulfilling the needs of individuals and organizations through exchanges which create superior value for all parties” ~ World Marketing Association Hence, Marketing as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return

3. Marketing as the Process Marketing as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return

4. According to AMA ~ Marketing is an organizational function and a set of processes for creating, communication and delivering value to customers and for managing customer relationships in ways that benefits the firms and its stakeholders Philip Kotler “Marketing is a social and managerial process by which individuals and groups obtain what they need through creating and exchanging value with others” Marketing management is an art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communication superior customer value Art and Science, Involves Segmentation, targeting and positioning, & Associated with value creation and delivery Definition of marketing

5. We can understand marketing in the following ways Marketing is the performance/ process of business activities. Marketing consists of activities facilitating exchanges. Marketing is performed within a set of dynamic environmental forces. Marketing is a sub set of the total management system. Marketing aims at fulfilling customer, organizational and social goal

6. Introduction to Marketing So, what can be marketed? Goods Services Events Experiences Persons Places Properties Organizations Information & Ideas

7. The Marketing Management Philosophies Marketing management wants to design strategies that will build profitable relationships with target consumers But what philosophy should guide these marketing strategies? What weight should be given to the interests of customers, the organization, and society? Very often, these interests conflict There are six alternative concepts under which organizations design and carry out their marketing strategies: The production Product Selling Marketing Societal marketing Holistic marketing

8. The Marketing Management Philosophies Production Concept The idea that consumers will favor products that are available and highly affordable Concentrate on achieving high production efficiency ( Mass Production ), low cost, and wide distribution coverage ( Mass Selling ) Price is assumed to be the critical variable in buying decisions of customers Companies adopting this orientation run a major risk of focusing too narrowly on their own operations and losing sight of the real objective: satisfying customer needs and building customer relationships This paradigm usually prevails in market conditions under which demand greatly exceeds supply, and is therefore still found in some Third World and Eastern European countries For e.g.:, Lenovo dominates the highly competitive, price-sensitive Chinese PC market through low labor costs, high production efficiency & mass distribution Note: Efficiency achieving maximum productivity with minimum wasted effort or expense.

9. The Marketing Management Philosophies Product Concept ( Focus on Product quality) The idea that consumers will favor products that offer the best quality, performance and innovative features therefore firm should concentrate on making continuous product improvements Emphasis of the concept on product quality, performance and features Good quality product that are reasonably priced are easily saleable in the market with very little marketing effort Product orientation tends to lead to ever more complex products at ever increasing prices; customers are being asked to pay for features which they may not need, or which may even be regarded as drawbacks . For example: Apple’s product are of exceptional quality, cutting-edge features and outstanding performance. GUCCI.

10. The Marketing Management Philosophies Selling concept (promotion and sales technique) The idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort This concept believes that people ordinarily will not buy the firm’s product unless they are persuaded to buy The firms put on heavy emphasis on convincing and persuading the buyers about superior quality fair prices of their goods and services It focuses on creating sales transactions rather than on building long- term, profitable customer relationships It should be noted that selling orientation and the practice of selling are two different things – modern salespeople are usually concerned to establish long term relationships with customers who will come back and buy more . For example: Insurance company.

11. The Marketing Management Philosophies Marketing Concept (Focus on customer needs and wants) Modern marketers take the view that customers are intelligent enough to know what they need, can recognize value for money when they see it, and will not buy again from the firm if they do not get value for money Achieving organizational goals depends on knowing the needs & wants of target markets and delivering the desired products & services better than competitors Under the marketing concept, customer focus and value are the paths to sales and profits: “sense & respond” instead “make & sell” In practice, this concept means finding out the needs and wants of a particular group of customers, finding out what price they would be willing to pay, and fitting the organization's activities towards meeting those needs and wants at the right price . Example: Volvo cars

12. The Marketing Management Philosophies Societal Marketing Concept (Societal interest) This concept questions whether the pure marketing concept overlooks possible conflicts between consumer short-run wants and consumer long- run welfare It holds that marketers should take some responsibility for the needs of society at large, and for the sustainability of their production activities

13. The Marketing Management Philosophies Societal Marketing Concept The idea of the concept is company’s marketing decisions should consider consumers’ wants, the company’s requirements, consumer’s log run interests and society’s long interests Emerged due to the movement of consumerism and environmentalism against the marketing practices that neglects consumers and society welfare The societal marketing concept calls for sustainable marketing; socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs

14. The Marketing Management Philosophies Holistic Marketing Concept Emerged in response to the social and technological challenges that raised serious questions about the power of marketing to module and modify consumers needs and preferences The holistic marketing concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies It recognizes and reconciles the scope and complexities of marketing activities It recognizes everything matters in marketing and that a broad, integrated perspective is often necessary

15. The Marketing Management Philosophies Holistic Marketing Concept

16. The Marketing Management Philosophies

17. Marketing Management Tasks With the holistic marketing philosophy as a backdrop, we can identify a specific set of tasks that make up successful marketing management and marketing leadership Developing marketing strategies and plan Concrete marketing plan specifying the marketing strategy and tactics Capturing marketing insights Establish dependable marketing research system to measure market potential, forecast demand, and make basic decision about marketing expenditure, activities & allocations based on the factual insights Connecting with customers Creating the value for target market and developing strong, profitable, long term relationship with customers

18. Marketing Management Tasks Building strong brand Measuring competitors, anticipating competitors move and understand how to react quickly and decisively Shaping the market offering Product offering including product quality, design, features and packaging Delivering value Managing channel activities include those the company undertakes to make the product accessible and available to target customers Communicating value Managing IMC program that maximizes the individual and collective contribution of all communication activities Creating long term successful growth Initiate new product development, testing and lunching as a part of its long term view

19. Marketing Challenges Consumers needs and demands are dynamic and ever changing Expect high quality product and services In c reased brand loyalty and brand parity IT enabled information sources Increased price sensitivity and intelligent shopping Marketing Challenges in the 21st Century Intense competition due to Globalization Inefficient Campaign segmentation High promotions cost and low profit margins Direct Marketing due to digitalization The call for more ethics and social responsibility Change in retail Business

20. What Next for the marketers? (Firms response to challenges) Relationship Marketing Customization and target Marketing Customer database Integrated Marketing Communications (IMC) Internal and partnership marketing Fact based decision making Strategic alliances Benchmarking and Outsourcing and so on…

21. Marketing Mix Marketing mix is one of the most basic concepts in marketing, defined as the elements an organization controls that can be used to satisfy or communicate with customers Marketing mix elements appear as core decision variables in any marketing task or marketing plan The notion of a mix implies that all the variables are interrelated and depend on each other to some extent Careful management of product, place, promotion, and price clearly essential to the successful marketing product along with the services. However, the strategies for the four Ps require some modifications when applied to services

22. Marketing Mix Product : Products are used to meet and satisfy customer needs, and today this can incorporate anything tangible or intangible Place : Place, in a traditional good- only context, refers to the way in which goods are distributed in order for customers to be able to access them at a time and place that is most convenient to them. Price : Because of the intangibility of services, price often becomes a means by which customers make a judgment about the quality of service Promotion : Promotion is concerned with the presentation of the marketing offer (goods and services) to target audiences. Promotion of services is essentially more challenging than that for goods, simply because of the intangibility issue

23. Marketing Mix Services are usually produced and consumed simultaneously, customers are often present in the firm’s factory, interact directly with the firm’s personnel, and are actually part of the service production process Due to intangibility nature of services, customers will often be looking for any tangible cue to help them understand the nature of the service experience People : All human actors who play a part in service delivery and thus influence the buyer’s perceptions: namely, the firm’s personnel, the customer, and other customers in the service environment All the human actors participating in the delivery of a service provide cues to the customer regarding the nature of the service itself In many service situations, customers themselves can also influence service delivery, thus affecting service quality and their own satisfaction

24. Marketing Mix Physical Evidence : The environment in which the service is delivered and where the firm and customer interact, as well as any tangible components that facilitate performance or communication of the service Process : The procedures, mechanisms, and flow of activities by which the service is delivered, consumed, and co created, the service delivery and operating systems

25. Product Nepali Fast food restaurant with highest quality food at affordable rate Delightful taste in every bite Price Competitive pricing Marketing Mix

26. Promotions Blend of traditional means of promotion and advertisement with social media “Ko Bancha Crorepati”, Goji coins, QFX cinemas and Paradygm TV, Viber stickers Robot serving Restaurant Place Five different outlets (4 in valley, 1 in Butwal) Marketing Mix

27. Relationship Marketing The hallmark of developing and maintaining effective customer relationships is called relationship marketing Intends to links the organization to its individual customers, employees, suppliers, and other partners for their mutual long- term benefit. Information technology, along with cutting- edge manufacturing and marketing processes, better enables companies to form relationships with customers today. Smart, connected products , n e w elements of “the Internet of everything,” help create detailed databases about product usage Relationship marketing aims to build mutually satisfying long- term relationships with key constituents in order to earn and retain their business

28. Relationship Marketing Relationship marketing involves creating, maintaining and enhancing strong relationships between the organization and its customers and other stakeholders that begins before and continues after the sale The orientation of marketing has shifted from individual transactions to building value- laden relationships and marketing networks Relationship marketing is concerned with the lifetime value of the customer The key to relationship marketing is understanding that customers are buying a bundle of benefits, some of which include such factors as product reliability and a pleasant service from the company they are dealing with

29. Relationship Marketing Relationship marketing concerns the integration of customer service, quality assurance, and marketing activity Companies employing a relationship marketing approach stress customer retention rather than customer acquisition Customer retention is a particularly important strategic activity in marketing mass consumer services

30. Relationship Marketing with the authority to make and solve problems, and employees decisions teamwork.

31. Green Marketing ( Eco-marketing, Environmental marketing ) Green marketing refers to the process of selling products and/or services based on their environmental benefits Such a product or service may be environmentally friendly in itself or produced and/or packaged in an environmentally friendly way “Green marketing is the marketing of products that are presumed to be environmentally safe” ~ AMA “Green or environmental marketing consists of all activities, designed to generate and facilitate any exchange indented to satisfy human needs and wants, such that the satisfaction of these needs and wants occur with minimum detrimental impact on the natural environment” ~ Polonsky, (1994)

32. Green Marketing The term green marketing refers to the planning, development and promotion of products or services that satisfy the needs of consumers for quality, output, prices and services without a negative effect on the environment When a company showcases its eco- friendliness, that may include products: Manufactured in a sustainable fashion Not containing toxic materials or ozone- depleting substances Produced from recycled materials or able to be recycled Made from renewable materials Not making use of excessive packaging Designed to be repairable and not thrown away

33. E- marketing. The process of advertising and selling products and services on the internet, for example, on a company websites or by email. It is also known as Internet Marketing, Web Marketing, Digital Marketing, or Online Marketing. E-Marketing Advantages  Some of the important advantages of e-marketing are given below;  Instant Response.  The response rate of internet marketing is instantaneous; for instance, you upload something and it goes viral. Then it’d reach millions of people overnight. Cost-Efficient.  Compared to the other media of advertising, it’s much cheaper. If you’re using the unpaid methods, then there’s almost zero cost. Less Risky.  When your cost is zero and the instant rate is high; then what one has to loos . No risk at all. Greater Data Collection.  In this way, you have a great ability to collect a wide range of data about your customers. This customer data can be used later.

34. Interactive.  One of the important aspects of digital marketing is that it’s very interactive. People can leave their comments, and you’ll get feedback from your target market. Way to Personalized Marketing.  Online marketing opens the door to personalized marketing with the right planning and marketing strategy, customers can be made to feel that this ad is directly talking to him/her. Greater Exposure of your Product.  Going viral with one post can deliver greater exposure to your product or service. Accessibility.  The beauty of the online world and e-marketing is that it’s accessible from everywhere across the globe.

35. Disadvantages of E-Marketing  Technology Dependent.  E-Marketing is completely dependent on technology and the internet; a slight disconnection can jeopardize your whole business. Worldwide Competition.  When you launch your product online, then you face a global competition because it’s accessible from everywhere. Privacy & Security Issues.  Privacy and security issues are very high because your data is accessible to everyone; therefore, one has to be very cautious about what goes online. Higher Transparency & Price Competition.  When privacy and security issues are high, then you have to spend a lot to be transparent. Price competition also increases with higher transparency. Maintenance Cost.  With the fast-changing technological environment, you have to be consistently evolved with the pace of technology and the maintenance cost is very high.