Introduction to Marketing

What is Marketing ?

What is Marketing Management?

Marketing management is the

art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.
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What is Marketing?

Marketing is an organizational function

and a set of processes for creating,
communicating, and delivering value
to customers and for managing
customer relationships
in ways that benefit the
organization and its stakeholders.
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Marketing is about a few simple

questions..

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Marketing is about a few simple

questions..
Who is my customer?
What are their needs?
How can I create value to satisfy their needs?
What do they want?
Where & how would they like to access the offering?
How and when will they get information about the offering?
What is the value of the product /service to them?
Why will they buy our offering rather than a competitors?
How can I continue providing value to the consumer?
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What is Marketed?
Goods
Services
Events & Experiences
Persons
Places & Properties
Organizations
Information
Ideas
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Marketing Goods

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Marketing Social Concerns

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Marketing Ideas

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Marketing Countries

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Marketing Debate

Does Marketing
Create or Satisfy Needs?

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Needs, Wants & Demands

Needs become wants when they are directed to
specific objects
Demands are wants for specific products backed
by the willingness & ability to pay
Needs pre-exist marketers (e.g social status)
Product- an offering that can satisfy need or
want
Marketers can influence level, timing &
composition of demand

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Demand States

Negative

Nonexistent

Irregular

Declining

Full

Latent

Overfull

Unwholesome
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Products-Selling-Marketing Concept
The Selling concept
Starting point Focus
Factory

Products

Means
Selling & Promoting

End
Profits through sales volume

The Marketing concept

Target market

Customer needs Integrated marketing

Profits through

customer satisfaction

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The Customer Concept

Starting point
Individual
Customer

Focus
Customer
needs and
values

Means
One-to-one
marketing
integration
& value
chain

Ends
Profitable
growth
through
capturing
customer
share,loyalty
& lifetime
value
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Selling is only the tip of the iceberg

There will always be need for

some selling. But the aim of marketing
is to make selling superfluous. The aim
of marketing is to know and understand
the customer so well that the product or
service fits him and sells itself. Ideally,
marketing should result in a customer
who is ready to buy. All that should be
needed is to make the product or
service available.
Peter Drucker
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A Simple Marketing System

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Key Customer Markets

Consumer Markets

Global Markets

Business Markets

Nonprofit/ Government
Markets

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The marketplace isnt what it used to be

Changing technology
Globalization
Deregulation
Privatization
Empowerment
Customization
Convergence
Disintermediation
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Marketing Environment

-Broad
Environmnet
-Task
Environment

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The Value Delivery Process

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Marketing Mix and the Customer

Four Ps
Product
Price
Place
Promotion

Four Cs
Customer solution
Customer cost
Convenience
Communication

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Holistic Marketing Dimensions

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Key Learnings
Marketing begins with the consumer
A product or offering will be successful if it delivers
value and satisfaction to the target buyer
A marketer needs to understand the Context, the
Customers, the Competitors, the Collaborators and
the strengths and weaknesses of his/her own company
Marketing involves defining the market, focusing on
Customer need, co-ordinating all activities that will affect
the customer and producing profits by satisfying consumers.
The focus now is on balancing company profits, consumer
satisfaction and public interest
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