Marketing management paper presentation 1

Marketing management for mba

1. Marketing Management Lecture 1 Pallavi Banerjee

2. Introduction to Marketing Marketing is a critical business function that involves identifying and satisfying customer needs through the creation, communication, and delivery of value. The goal of marketing is to create mutually beneficial exchanges between buyers and sellers that result in customer satisfaction and company profits. Marketing involves a wide range of activities, including market research, product development, pricing, promotion, and distribution. Marketing plays a crucial role in the success of any business, regardless of its size, industry, or location.

3. Marketing Scope Marketing scope refers to the various areas and dimensions that marketing covers. Marketing scope can be classified into two broad categories: micro-marketing and macro-marketing. Micro-marketing focuses on the activities and strategies used by firms to target and serve specific customer groups or segments. Macro-marketing considers the broader social and economic implications of marketing, such as how marketing affects society, the economy, and the environment.

4. Marketing Concepts The five key marketing concepts are production orientation, product orientation, sales orientation, marketing orientation, and societal marketing orientation. Production orientation emphasizes efficiency in production and distribution and assumes that customers will buy whatever products are readily available and affordable. Product orientation focuses on product design and quality and assumes that customers will choose products that offer the most features, performance, or innovation. Sales orientation emphasizes aggressive selling and promotion to convince customers to buy existing products. Marketing orientation emphasizes understanding and satisfying customer needs and wants through market research, segmentation, targeting, and positioning. Societal marketing orientation emphasizes meeting the needs of customers while also addressing broader social and environmental concerns.

5. Marketing Philosophies Marketing philosophies are the underlying beliefs and values that shape a company's approach to marketing. The three key marketing philosophies are market orientation, product orientation, and sales orientation. Market orientation is the philosophy that firms should focus on understanding and satisfying customer needs and wants to achieve long-term success. Product orientation is the philosophy that firms should focus on creating the best products possible and assume that customers will recognize their value and buy them. Sales orientation is the philosophy that firms should focus on aggressive selling and promotion to maximize sales and profits.

6. Changing Marketplace The marketplace is constantly evolving due to changes in technology, demographics, social norms, and other factors. Marketers must adapt to these changes by continuously monitoring and analyzing market trends, consumer behavior , and competitive activity. Some of the key trends that are currently reshaping the marketplace include the rise of e-commerce, the growing importance of social media and digital marketing, the increasing emphasis on sustainability and social responsibility, and the changing preferences of younger generations.

7. Role of Marketing in Organization Marketing plays a critical role in the success of any organization by helping to identify and satisfy customer needs and wants. Marketing helps organizations to differentiate themselves from competitors, build brand awareness and loyalty, and create sustainable competitive advantages. Marketing also contributes to organizational growth and profitability by generating sales revenue, increasing market share, and expanding into new markets or product categories. Marketing should be integrated into the overall strategy and operations of the organization to ensure that it supports and aligns with other functions such as finance, operations, and human resources.

8. Company Orientation towards the Marketplace A company's orientation towards the marketplace refers to its overall approach to marketing and how it views its customers and competitors. There are three main types of company orientation: product orientation, sales orientation, and market orientation. A product-oriented company focuses on creating and improving products, with little consideration for customer needs or competitor activity. A sales-oriented company focuses on aggressive selling and promotion, with the assumption that customers will buy whatever products are pushed on them. A market-oriented company focuses on understanding and satisfying customer needs and wants, with the goal of building long-term relationships and creating customer value.

9. Marketing Mix The marketing mix refers to the combination of product, price, promotion, and place (distribution) that a company uses to satisfy customer needs and wants. Product refers to the goods or services that a company offers to its customers, and includes product design, features, quality, branding, and packaging. Price refers to the amount that customers pay for a product, and includes pricing strategies such as skimming, penetration, and cost-plus pricing. Promotion refers to the various ways that a company communicates with and persuades customers, and includes advertising, personal selling, sales promotion, public relations, and direct marketing. Place refers to the channels and locations through which a company delivers its products to customers, and includes distribution strategies such as direct selling, wholesalers, retailers, and e-commerce

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