Amity Business School

Amity Business School

MBA(E&L),

Semester I

Marketing Management I Sunetra Saha

ssaha1@amity.edu

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Definitions of marketing
Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably The Chartered Institute of Marketing

AMA defn. of Marketing

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Marketing is an organizational function & a set of processes for creating, communicating & delivering value to customers & for managing customer relationships in ways that benefit the organization & the stakeholders.

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The right product, in the right place, at the right time, and at the right price Adcock et al

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Marketing is the human activity directed at satisfying human needs and wants through an exchange process

Kotler 1980

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Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others Kotler 1991

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Purpose of Marketing
To create customer Peter Drucker To create , recreate ,hold and attract the customer people dont buy products, they buy expectation of benefits Theodore levitt

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Implications of marketing
Who are our existing / potential customers? What are their current / future needs? How can we satisfy these needs?
Can we offer a product/ service that the customer would value? Can we communicate with our customers? Can we deliver a competitive product of service?

Why should customers buy from us?

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Scope of Marketing
. Physical Goods . Services . Experiences . Events . Persons . Places . Properties . Organizations . Information . Ideas

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The marketing concept

choosing and targeting appropriate customers positioning your offering interacting with those customers controlling the marketing effort continuity of performance

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Successful marketing requires: Profitable Offensive (rather than defensive) Integrated Strategic (is future orientated) Effective (gets results)
1972

Hugh Davidson

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Marketing management processes

Analysis/Audit - where are we now? Objectives - where do we want to be? Strategies - which way is best? Tactics - how do we get there? (Implementation - Getting there!) Control - Ensuring arrival

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Why is marketing planning necessary?

Systematic futuristic thinking by management better co-ordination of a companys efforts development of performance standards for control sharpening of objectives and policies better prepare for sudden developments

Company orientation towards the market place

The production concept The product concept The selling concept The marketing concept The Holistic marketing concept

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Core marketing concepts

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Needs, wants & demands Target markets, positioning & segmentation Offerings & brands Value & satisfaction Marketing channels Supply chain Competition Marketing environment

Marketing management tasks

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Developing marketing strategies & plans Capturing marketing insights Connecting with customers Building strong brands Shaping the market offerings Delivering value Communicating value Creating long-term growth