1. What is Marketing?
Marketing is societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.

2. 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.

3. Simple Marketing System
Industry
(a collection
of sellers)
Market
of Buyers)
Communication
Goods/services
Money
Information

4. What is Marketed? Scope Ideas Goods Events Services Organizations
Persons
Scope
Place
Experiences
Information
Properties

5. Basic Concepts of Marketing
Market Segmentation &
Target Selection
Needs, Wants & Demand
Basic Concepts
Product Or Offering
Value & Satisfaction
Exchange & Transaction

6. Market The set of actual and potential buyers of a product.
These people share a need or want that can be satisfied through exchange relationships.

7. Segmentation and Targeting
Market Segmentation:
Divide the market into segments of customers
Target Marketing:
Select the segment to cultivate
Segment1
Segment 2

8. Need, Want and Demand
Needs - State of felt deprivation including physical, social, and individual needs.
Wants - Form that a human need takes, as shaped by culture and individual personality.
Demand – Want along with buying power converts into demand.

9. Marketers and Prospects
Marketer: Someone seeking to sell something to another party.
Prospect: Someone seeking to buy something from another party.

10. Value & Satisfaction Value = Benefit Cost
Benefit = Functional Benefit + Emotional Benefit
Cost = Monetary Cost + Time Cost +Energy Cost + Psychic Cost

11. Satisfaction
Customer Satisfaction: Dependent on the product’s perceived performance relative to a buyer’s expectations.
If performance (P) is lower than expectations (E), satisfaction is low.
If performance (P) is higher than expectations (E), satisfaction is high.
E= > P=8
E= < P=12

12. Exchange & Transaction
Exchange: Obtaining a desired product from someone by offering some thing in return. Five conditions must be satisfied:
At least two parties
Each should have something of value to the other party
Each party is capable of communication and delivery
Each party is free to accept or reject the exchange offer
Each party believes it is desirable to deal.
Transaction: It is a trade of values between two or more parties.
Monetary Transaction: Money is paid against goods
Barter Transaction: Trading goods or services for other goods or services.

13. Basic Concepts of Marketing
Relationship & Network
Marketing Channels
Basic Concepts
Supply Chain
Competition
Marketing Environment

14. Relationship & Network
Relationship marketing has the aim of building long term mutually satisfying relations with key parties:
Customers
Suppliers
Distributors
Stake holders
Employees
Outcome
Marketing Network

15. Communication Channels Distribution Channels
Marketing Channels
Communication Channels
Dialogue Channels
Monologue Channels
Distribution Channels
Physical Distribution Channels
Service Distribution Channels
Channels
Selling Channels
Distributor & Retailers
Insurance Co.
Banks

16. Supply Chain

17. Competition 1 2 3 4 Brand Competition
Other companies offering a similar product and services to the same customers at similar prices. 2
Industry Competition
All companies making the same product or class of products (all price range) 3
Form Competition
All companies manufacturing products that supply the same service. 4
Generic Competition
All companies that compete for the same consumer money.

18. Marketing Environment
Internal
Environment
Micro
Environment
Macro
Environment

19. Marketing Mix
Marketing Mix is the set of marketing tools that the firm uses to pursue its marketing objective.
Four P’s and Four C’s
Product: Customer Solution
Price: Customer Cost
Place: Convenience
Promotion: Communication

20. Marketing Mix Product Promotion Place Price Product Variety Quality
Design
Features
Brand Name
Packaging
Sizes
Services
Warranties
Returns
Price
List Price
Discounts
Allowances
Payment Period
Credit Terms
Promotion
Sales Promotion
Advertising
Sales Force
Public Relations
Direct Marketing
Place
Channels
Coverage
Assortment
Locations
Inventory
Transport

21. Marketing Mix Strategy
Promotion Mix
Sales Promotion
Advertising
Offering Mix
Company
Product
Service
Price
Sales Force
Distribution Channels
Target Customers
Public Relations
Direct Mail, Tele-marketing & Internet

22. Summary
Marketing Management is creating, delivering, and communicating superior customer value.
It has a wider scope.
Marketing starts with recognition of needs of customer.
Then segmentation and selection of market is done to choose a specific kind of need to fulfill.
Then product is positioned in the minds of the customer.
Marketing has four important P’s: Product, Price, Promotion and Place.
Product is placed in the competitive environment.
Customer is satisfied when the product meets his expectation.
Company’s focus is to earn profit through customer satisfaction.

23. Thank You !