Marketing

Market
Market was a
physical place
where buyers
and sellers
gathered to
buy and sell
goods
Marketing
The management process through which goods
and services move from concept to the customer.
It includes the coordination of four elements
called the 4 P's of marketing:
(1) identification, selection and development of a
product,
(2) determination of its price,
(3) selection of a distribution channel to reach the
customer's place, and
(4) development and implementation of a
promotional strategy.
For example, new Apple products are developed
to include improved applications and systems, are
set at different prices depending on how much
capability the customer desires, and are sold in
places where other Apple products are sold. In
order to promote the device, the company
featured its debut at tech events and is highly
advertised on the web and on television



Definition
Dr. Philip Kotler defines marketing as the
science and art of exploring, creating, and
delivering value to satisfy the needs of a target
market at a profit. Marketing identifies
unfulfilled needs and desires. It defines,
measures and quantifies the size of the identified
market and the profit potential. It pinpoints
which segments the company is capable of
serving best and it designs and promotes the
appropriate products and services.
Marketing &Selling
Marketing is much wider and
much more dynamic than selling.
Marketing revolves around the
needs and interest of the buyer,
selling revolves around the needs
and interest of the seller
The purpose of marketing is to
make what the customers want,
The purpose of selling is to sell
what is made.


Marketing concepts
Needs:Needs are the basic
Human requirements
Maslows Need Hierarchy Theory
Marketing concepts
Wants:Needs becomes wants
when they are directed to
specific objects
Marketing concepts
Demand: Demands
Demand: Demands
are wants for specific
products backed by
an ability to pay
Marketing concepts
Production concept
Product concept
Selling concept
Marketing concept
Holistic marketing concept

Marketing concepts
Production concept: The production concepts
holds that customers will favor those products
that are widely available & low in cost.
Managers of production oriented
organizations concentrate on achieving high
production efficiency & wide distribution
coverage.

Marketing concepts
Product Concept: The product concept
holds that consumers will favor those
products that offer the most quality,
performance or innovative features. Managers
in these product oriented organizations focus
their energy on making superior products &
improving them over time.

Marketing concepts
Selling Concept: The selling concept holds that
consumers, in left alone, will ordinarily not
buy enough of the organizations products


Marketing concepts
The Marketing Concept: The marketing
concept holds that the key to achieving
organizational goals consists in determining
the needs & wants of target markets&
delivering the desired satisfaction more
effectively & efficiently competitors
.

Marketing concepts
The Societal Marketing Concept: Societal
marketing concept holds that the
organizations task is to determine the
needs,wants & interests of target markets &
to deliver the desired satisfaction more
effectively &efficiently than competitors in a
way that preserves or enhances the
consumers &societys well being.


S.No. Selling Marketing
1. Selling starts with the seller
& the needs of the seller
Marketing starts with the
buyer & needs of buyer
2. Seeks to quickly convert
products into cash.
Seeks to convert customer
needs into products
3. Seller is the centre of
business universe
Buyer is the centre of the
business universe
4. Views Business as a goods
producing process
Views businesses as a
customer satisfying process.
5. Seller preference determines
the formulation of marketing
mix.
Buyer determines the shape
marketing mix should take.
6. Selling is product oriented Marketing is
customer
oriented.
7. Sellers motives dominate
marketing communication
Marketing communication is
looked upon as a tool for
communicating the benefits /
satisfactions provided by the