Introduction to Marketing Session-1

Concepts Needs Wants Demands Products Exchange Transactions Market

What is Marketing? Is it same as selling, Advertising? Marketing, Kotler(1980): Activity directed towards satisfying human needs through exchange process. Marketing: Meeting needs profitably. Marketing: Process of creating, communicating and delivering the value

Marketing as a value delivery process Value Creation Value Communication Value Delivery What is Value?

Marketing is NOT the same as selling. Marketing Vs. Selling Marketing is NOT the same as selling. Selling is just the tip of the marketing iceberg. Aim of marketing: Know your customers well. Design the products to meet customers needs. Product should sell itself.

Is it a place where goods and services are exchanged? What is a market? Is it a place where goods and services are exchanged?

What is Marketed Anything Goods Services Events Experiences Persons Places Properties. Organization Information. Ideas

Customer Markets Consumer Markets: Business Markets: Products and Services sold for the mass customers. Brand Strength. Business Markets: Well trained and informed buyers. Products or services should demonstrate higher value for the customer and profit making ability.

Non profit and Government Markets Global Market: Cultural diversity. Where to enter, how to enter markets? Economic variables and pricing. Non profit and Government Markets Careful Pricing. Bidding.

Marketing Philosophies Production Products are highly affordable and easily available Improve production and distribution. eg. Chinese goods. Product Quality Products Products with high quality, features and performance. Selling Buy only if heavy promotion is done. Sell what they make rather than make what market wants. Marketing Focuses on Needs and Wants of the market Deliver Value better than competitors. Societal Integrate societal aspect to the marketing aspect. CO2 emission in Cars.

Holistic Marketing Holistic Marketing Relationship Marketing Internal Marketing Performance Marketing Integrated Marketing

Relationship Marketing Maintain strong relationship with stakeholders that affect the success of the firm. Customers (Offer better value, and retain) Channels (Increase the earnings) Partners (Better ROI, Brand building) Increase the return to the stakeholders. Build up a marketing network. Emphasize on Customer Retention. Treat everyone as partners, create a win-win situation.

Integrated Marketing Integrated Marketing programs to deliver value. Different activities to provide synergy. Vary the Marketing Mix as per the need. How would you sell Mercedes Benz Against a Maruti in Nepal Marketing Mix Product Place Price Promotion

Imbibe the sense of marketing into all the organizational functions. Internal Marketing Imbibe the sense of marketing into all the organizational functions. Marketing is not only the job of marketing department.

Performance Marketing Measuring ROI on marketing activities. Social Aspect. Scorecard is beyond the sales revenue. Market Share. Customer Satisfaction. Product Quality

What is Marketing Management It is the analysis of planning, organizing, leading and control of programs to create, build and maintain beneficial exchange with target buyers for the purpose of achieving Organizational Goals.

Steps in Marketing Management Analyzing Marketing Opportunity. Selecting Target Markets. Developing Marketing Mix (4Ps) Managing the Marketing Effort

Marketing Myopia?

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