SESSION 1

COMPANY ORIENTATION OF MARKETING AND

FUNDAMENTAL CONCEPTS OF MARKETING

Objective :
To understand and apply the fundamental
concepts of business marketing that
determine success of companies.
Which CO/PO does it cater to?
Course Objective 1:
• To make students understand the fundamental concepts
of marketing

Program Objective 1: Management Knowledge:

• Acquire and apply marketing fundamentals to solve
complex business problems.
What is marketing
• Effective marketing is nothing but a continuous
process of understanding consumer needs,
creating , delivering, and communicating
superior customer value to its chosen target
market, of planning and executing strategies,
with the help of available marketing tools, in a
sustained and flexible manner, using relevant
consumer insight.
Refer to the case studies:
(Discussing from a marketing perspective)
So what is the secret for their success?
(Discussing from a marketing perspective)

• They adhered to certain

concepts/principles in business.

• What are these concepts?

• Lets discuss the same in upcoming slides
DQ 1) Discuss Product vs Brand
A Product is any offering that can satisfy a need or want, while a brand
is a specific offering from a known source.
And how can a product become a brand? By offering:
• Good quality
• Should give value for money.
• Availability
• Service i.e commitment to quality.

Can we identify the cases in the handout as brands?

So the learning is Your product must become

a brand.
2) Needs, Wants, Demand:

Understand the Needs, Wants, Demands of TMS

• Needs describe basic human requirements such

as food, air, water, clothing, shelter, recreation,
education, and entertainment.
• Needs become wants when they are directed to
specific objects that might satisfy the need. (Fast
food)
• Demands are wants for specific products backed
by an ability to pay.

You must be able to create the need into want and

the want into demand.
What need/want do the brands cater to?
The learning ??

• You must be able to create the need

into want and the want into demand.
3) TMS (Target market segmentation).

• Understanding Market
segmentation/TMS is a must

• Did the companies segment the markets

that they serve in and then decide the TMS
to focus.
So the learning is ?

• You cannot be everything to everyone. Or

you will end up meaning nothing to anyone.

• So cos must do TMS.

DQ 3)Discus the positioning strategy
Its is not enough to understand the needs and
wants of target market segment. It is equally
essential to position your product in the minds
of the consumer.

Positioning is not WHAT YOU DO TO THE PRODUCT;

It is WHAT YOU DO TO THE MINDS OF THE PROSPECT
DQ 4) Discuss the concept of value: what value
proposition is conveyed by the brands ?
• Colgate value proposition.
• Amul Value proposition
• Dettol value proposition
• Lifebouy value proposition
• Vicks value proposition

Value proposition (Set of benefits)should create value

and satisfaction.
DQ 5: Discuss the marketing mix:

The 4 P’s (proposed by Jerome McCarthy in 1960) should satisfy

the 4 C’s (proposed by Robert Lauterborn in 1990)

4 P’S 4 C’S Discussion questions

Product Customer solution What customer solution is given by
Colgate, Amul, Dettol, Lifebuoy and
Vicks
Price Customer value What customer value do they provide

Promotion CommunicatIon How do they Communicate the value

proposition
Place Convenience How are they distributing their
products? Are they Convenient to
buy?
DQ 6) What are the various Marketing
channels?
• What are the Communications channels used by the
brands? (Radio, TV, Bill board, Digital etc)
• What are the distribution channels used by the brands? (
Internet, mobile, distributor, retailer, wholeseller, agents
etc)
• What are the service channels used by the brands? (
Warehouses, transportation cos, banks, insurance cos
etc)
DQ 7) What do you understand by Supply
chain/Value chain?
DQ 8) Discuss the concept of Value
chain/Value network
• Porter defines the value chain as made of primary activities and support activities.
Primary involves inbound logistics (getting the material in for adding value by
processing it), operations (which are all the processes within the manufacturing),
outbound (which involves distribution to the points of sale), marketing and sales (which
go sell it, brand it and promote it) and service (which maintains the functionality of the
product, post sales).
DQ 9)What do you understand by
Competition?
• Four levels of competition can be distinguished
by the level of product substitutability:
• Brand competition
• Industry competition
• Form competition
• Generic competition

Companies need to position and differentiate

themselves from competitors offerings
DQ 9) Discuss the concept of marketing
environment?
• The following forces in the broad environment
have a major impact on the task environment:
• Political
• Economics
• Social-cultural -environment
• Technological environment
• Environmental
• Legal

Be alert: Change with the changes in

environment.
So what is marketing?
• Effective marketing is nothing but a continuous
process of understanding consumer needs,
creating , delivering, and communicating
superior customer value to its chosen target
market, of planning and executing strategies,
with the help of available marketing tools (4 P’s
and C’s), in a sustained and flexible manner,
using relevant consumer insight.
Conclusion:
In order to be successful companies need to adhere to the fundamental
concepts of marketing.

1. Product offering and 6. Marketing channels

brand 7. Supply chain
2. Needs, wants, 8. Value chain/Value
demands network
3. Target markets and 9. Competition
market segmentation 10. Marketing
4. Value and satisfaction environment
5. Marketing mix
 Which CO/PO did we cater to in this
session?
Course Objective 1:
• To make students understand the fundamental concepts
of marketing

Program Objective 1: Management Knowledge:

• Acquire and apply marketing fundamentals to solve
complex business problems.