1. Marketing Management Philip Kotler Kevin Lane Keller Abraham Koshy
Mithileshwar Jha
12e/13e
Pearson Education

2. What is Marketing??? Some definitions:-
“ Identifying and meeting human and social needs profitably”
American Marketing Association defines it as
“ The organisational function and set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organisation and its stakeholders”

3. Marketing definitions
“Marketing is the 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”

4. Exchange and transactions
Exchange is the process of obtaining a desired product from someone by offering something in return
Conditions:
There should be two parties
Each has something that the other values
Each party is capable of communication
Each party is free to accept or reject the exchange offer
Each believes that it is desirable to deal with the other party
Two parties negotiating are known as engaged in exchange, once an agreement is reached, we say a transaction take place.

5. What is marketed?? Goods: TV, Mobiles Services: Banking, Insurance
Events: Vibrant Gujarat
Experiences: EsselWorld
Person: Amitabh Bachhan
Places: Kerala, Goa
Properties: Amby Valley
Organisations: Reliance Power
Information: Yellow pages
Ideas: CRY, Eye donation, Blood donation

6. Who is who???
A marketeer is someone who seeks a response ( purchase) from the other party
The other party is known as prospect

7. Types of demand Eight states of demand:
Negative demand: Consumer dislike the product and may pay a price to avoid it
Nonexistent demand: Consumer are unaware or disinterested in the product
Latent demand: Consumers have a need which cannot be satisfied by current products
Declining demand: Consumer purchase less frequently/do not purchase at all
Irregular demand: Consumers purchase on a seasonal, monthly, weekly etc basis
Full demand: Product is adequately bought by consumer
Overfull demand: More consumers want the product that can be satisfied
Unwholesome demand: Consumers want products that have bad social consequences

8. Markets and Industry Figure: Communication Goods/Services Money
Information
Industry
(A collection of sellers)
Market
(A collection of buyers)

9. Type of Markets Consumer markets Business markets Global markets
Nonprofit and Government markets

10. Markets: New concepts
Market place and Market space: Place is physical while space is digital
Metamarkets : Cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries

11. Company Orientation towards the market place
Production concept:
Principle: Consumers will prefer products that are widely available and inexpensive
These business concentrate on high production efficiency, low costs and mass distribution
Example: Sanghi cement

12. Company Orientation towards the market place
2. Product concept:
Principle: Consumers will favour products that offer the most quality, performance or innovative features
These organisations focus on making superior products and improving over time
Example: Sony
Flip: Leads to Marketing Myopia – shortsightedness of the marketer – falling in love with one’s own product rather that understanding consumer needs

13. Company Orientation towards the market place
3. The Selling concept:
Principle: The consumer, if left alone will not purchase, so the organisation has to aggressively sell it to the consumer.
Insurance companies do it!!!
Such firms want to sell what they make rather than make what the market wants – risky business!!!

14. Company Orientation towards the market place
4. Marketing concept:
Principle: The key to organisational goals consists of the company being more effective than competitors in creating, delivering and communicating superior customer value to its chosen target markets

15. diFFerence between seLLing and marKeting
Selling focuses on needs of seller while marketing focuses on needs of buyer
Selling needs with the seller’s requirement to convert his product to cash while marketing deals with satisfying the needs of customer by the means of product

16. Company Orientation towards the market place
5. The holistic marketing concept:
It is based on the development, design and implementation of marketing programs, processes and activities that recognises their breadth and interdependencies

17. Holistic marketing It has four components: Relationship marketing
Integrated marketing
Internal marketing
Social responsibility marketing

18. Relationship marketing
It aims to build mutually satisfying long term relationships with key parties – customers, suppliers, distributors and other marketing partners – in order to earn retain their business
Relationship marketing consists of
CRM: Customer relationship management
PRM: Partner relationship management
The ultimate outcome of relationship marketing is a unique company called a marketing network
It consists of company and its supporting stakeholders(customers, employees, suppliers, distributors, retailers, ad agencies)

19. Integrated Marketing
The marketeer’s task is to devise marketing activities and assemble fully integrated marketing programs to create, communicate and deliver value for consumers.
Here is where is the marketing mix comes in!
-defined as the set of tools that firm uses to pursue its marketing objectives

20. Marketing Mix McCarthy called it the 4 P’s
Product – Variety, Quality, Design, Features, Brand name, Warranties
Price – List price, Discounts, Credit period
Place – Channels, Transport, Coverage, Locations
Promotion – Sales promotion, Advertising, Sales force, Public relations, Direct marketing

21. 4 Ps Product = Customer solution Price = Customer cost
Place = Convenience
Promotion= Communication

22. Internal Marketing
Internal marketing is the task of hiring, training and motivating employees to serve consumers well.
This takes place at two levels:
Various marketing functions must work together
Marketing must be embraced by other departments as well

23. Social Responsibility marketing
Understanding broader concerns and the ethical, environmental, legal and social context of marketing activities and programs
Societal marketing concept:
It states that the organisation’s task is to determine the needs, wants and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer’s and society’s well being.

24. Core concepts of marketing
Needs : Basic human requirements – hunger, thirst
Wants : Specific objects that satisfy needs – Pepsi for thirst and Pizza for hunger
Demands: wants for specific products backed by ability to buy and willingness to buy

25. Needs!!!!! 1.Stated needs 2. Real needs 3. Unstated needs
4. Delight needs
5. Secret needs

26. S-T-P
Segmentation
Targeting of markets
Positioning

27. Value and Satisfaction
Value is a combination of quality, service and price
Value = Consumer Benefit / Price paid
Satisfaction is the consumer’s judgment of the product’s perceived performance
Actual = Expected  Satisfaction
Actual < Expected  Dissatisfaction
Actual > Expected  Delight

28. Marketing Channels Three types 1. Communication channels
2. Distribution channels
3. Service channels

29. Marketing Environment
Task environment – company, suppliers, distributors and customers
Broad environment – demographic, economic, physical, technological, political, legal, socio-cultural