1. Marketing Management Introduction

2. Today’s Agenda Let’s Know Each Other Discuss on the course profile What is Marketing to you? Some Marketing Concepts Finalizing teams and product for marketing plan

3. Let’s Know Each Other Name Background Hobbies

4. If your 8 year old niece or nephew comes to you and asks ‘ You are reading this big book on Marketing, what is MARKETING?’

5. What is Marketing? Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. (American Marketing Association Formal Definition)

6. Isn’t selling everything? Why you need to worry about this marketing?

7. Selling is only the tip of the iceberg “There will always be a need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available.” Peter Drucker

8. What is Marketing Management? 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.

9. creating, delivering, and communicating superior customer value.

10. Opening Case… Tata Swach The initiatives that address the unmet needs of the masses through appropriate technology and product design at affordable price points reflect contemporary marketing thoughts.

11. Remember… Good marketing is no accident, but a result of careful planning and executing using state-of-the-art tools and techniques.

12. What is Marketed? Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas

13. Key Customer Markets Consumer Markets Business Markets Global Markets Nonprofit/ Government Markets

14. The marketplace isn’t what it used to be… Information technology Globalization Deregulation Privatization Competition Convergence Consumer information Retail transformation

15. New Consumer Capabilities A substantial increase in buying power A greater variety of available goods and services. A great amount of information about practically anything. Greater ease in interacting and placing and receiving orders. An ability to compare notes on products and services. An amplified voice to influence public opinion.

16. Why is Marketing Important?

17. The financial success depends on marketing ability – marketing creates sufficient demands for products and services so that firm can make profit Help introduce and gain acceptance of new products to ease and enrich people’s life Help build brands and loyal customer base, intangible assets and contribute to the value of the firm

18. Figure 1.2 A Simple Marketing System

19. For Next Class… Read - Un-leasing Power of Marketing For Project - Write the team members name and product for the Marketing Plan project

20. Assignment 1 Nepalese Market Scanning – Group Task Due : Thursday, April 7

21. Company Orientations Production SellingMarketing Product

22. Company Orientations Toward The Market Place The Production Concept Consumers will prefer products that are widely available & inexpensive e.g. Lenovo, Haier etc. The Product Concept Consumer favor products that offer the most quality, performance, or innovative features e.g. Rolex etc. The Selling Concept Consumers & businesses, if left alone, won’t buy enough of the organization’s products e.g. Insurance, Encyclopedias etc. The Marketing Concept Emerged in mid 1950s Customer-Centered “Sense & Respond” e.g. Dell Computer etc.

23. Figure 1.4 Holistic Marketing Dimensions

24. The Holistic Marketing Concept Relationship Marketing Relationship marketing is a strategy designed to foster customer loyalty, interaction and long-term engagement. Integrated Marketing Communication Integrated marketing communication (IMC) is a process for planning, executing and monitoring the brand messages that create customer relationship. Internal Marketing Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well.

25. The Holistic Marketing Concept… Performance Marketing Financial Accountability Social Responsibility Marketing Corporate Social Initiatives Corporate social marketing Cause marketing Corporate philanthropy Corporate community involvement Socially responsible business practices

26. Thank You!