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Marketing = ?
Marketing
is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals
Marketing = ?
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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The purpose of a company is to create a customerThe only profit center is the customer. A business has twoand only two basic functions: marketing and innovation. Marketing and innovation produce results: all the rest are costs. The aim of marketing is to make selling unnecessary.
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4. While great devices are invented in the Laboratory, great products are invented in the Marketing department. 5. Marketing is too important to be left to the marketing department.
Marketing = ?
Marketing Marketing
is the sum of all activities that take you to a sales outlet. After that sales takes over. is all about creating a pull, sales is all about push.
Marketing
product price place
promotion
Marketers use numerous tools for desired responses from their target markets. These tools constitute a marketing mix: Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. Further it can be classified into 4 Ps Ps of marketing: product, price, place, and promotion.
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Promotion Communication
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Sales
trying to get the customer to want(to purchase) what the company produces
Marketing
trying to get the company produce what the customer wants
Selling is preoccupied with the sellers need to convert his product into cash. Marketing with the idea of satisfying the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering and finally consuming it.
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The marketing concept rests on four pillars: target market, customer needs, integrated marketing, and profitability.
The selling concept takes an inside-out perspective. It starts with the factory, focuses on existing products, and calls for heavy selling and promoting to produce profitable sales.
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The marketing concept takes an outside-in perspective. It starts with a well-defined market, focuses on customer needs, coordinates activities that affect customers, and produces profits by satisfying customers.
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Goods Services Events Experiences Personalities Place Organizations Properties Information Ideas and concepts
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Products, Utility, Value & Satisfaction Exchange, Transactions & Relationships Markets, Marketing & Marketers.
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Company
Competition
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Who is a Customer ??
CUSTOMER IS . . . . .
Anyone who is in the market looking at a product / service for attention, acquisition, use or consumption that satisfies a want or a need
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Customer
CUSTOMER has needs, wants, demands and desires Understanding these needs is starting point of the entire marketing These needs, wants arise within a framework or an ecosystem Understanding both the needs and the ecosystem is the starting point of a long term relationship
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We
Or
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= Benefit / Cost
Benefit
Cost
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Why a product like radio declined and now once again emerging as an entertainment medium ?
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Government
Other
policy ?
media substitutes ?
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vs. Titan
vs. Nirma vs. Honda boom, then bust and now resurgence
Bajaj
Dot.com Market
leadership today cannot be taken for granted.New and more efficient companies are able to upstage leaders in a much shorter period.
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New Economy
Organize by customer segments Focus on customer lifetime value Look also at marketing scorecard Focus on stakeholders Everyone does the marketing Build brands through performance Focus on customer retention Measure customer satisfaction and retention rate Under-promise, over-deliver
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Myth 1 The larger the range of products, the more customer-centric I am.
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using instantly. - Give a customer a card and he will learn how to play with it immediately
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Mythbuster Selling focuses on the needs of the seller; marketing on the needs of the buyer.
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Mythbuster Trust is not a differentiator at all it is the very minimum that the customer expects!!
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products -
Customer Service !
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Thank You
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