1. Marketing Concepts

2. adopted by companies or marketers in relation to market
Marketing concepts are the philosophies, beliefs or attitudes
adopted by companies or marketers in relation to market
their product. Some say they are consumer oriented, some
say they value their customers and some say customers are
their kings.
Various types of marketing concepts:
A. Traditional Concepts B. Modern Concepts
1. Exchange concept Marketing concept
2. Production concept Societal concept
3. Product concept Holistic marketing concept
4. Selling concept

3. (a) The selling concept (b) The marketing concept
Focus
Ends
Means
Starting
point
Factory
Existing
products
Selling and
promotion
Profits through
sales volume
(b) The marketing concept
Target
market
Customer
needs
Integrated
marketing
Profits through
customer
satisfaction

4. Features of Modern Marketing Concepts
Modern marketing is consumer oriented.
It begins and ends with Consumers.
It precedes & succeeds production.
It is competition oriented.
Its strategy is target marketing
The distribution policy under modern marketing is direct marketing and direct selling.

5. Modern marketing relies on information.
It emphasizes mutuality of benefit.
Business networks.
Emphasis on retaining customers
Marketing on the net.
Shifting from international to borderless world marketing.
Innovation.
Business Process Outsourcing.
Branding shifting values.

6. Operational Model for Implementing the Philosophy of the Marketing Concept is the:
Marketing Mix

7. Marketing Mix - A mixture of several ideas and plans followed by a marketing representative to promote a particular product or brand is called marketing mix. Several concepts and ideas combined together to formulate final strategies helpful in making a brand popular amongst the masses form marketing mix.

8. The Marketing Mix Consists of Four Basic Strategic Variables (the four “Ps”)
Product Strategy
Price Strategy
Promotional Strategy
Place Strategy (Channels of Distribution)

9. The role of marketing management is to mix or blend these four strategic variables in such a way as to meet the needs of...
THE TARGET MARKET
Product
Price
Promotion
Place
Target Market

10. Product
Goods manufactured by organizations for the end-users are called products.
Products can be of two types - Tangible Product and Intangible Product (Services)
An individual can see, touch and feel tangible products as compared to intangible products.
A product in a market place is something which a seller sells to the buyers in exchange of money.

11. Price
The money which a buyer pays for a product is called as price of the product. The price of a product is indirectly proportional to its availability in the market. Lesser its availability, more would be its price and vice a versa.
Retail stores which stock unique products (not available at any other store) quote a higher price from the buyers.

12. Place
Place refers to the location where the products are available and can be sold or purchased. Buyers can purchase products either from physical markets or from virtual markets. In a physical market, buyers and sellers can physically meet and interact with each other whereas in a virtual market buyers and sellers meet through internet.

13. Promotion Advertising. Word of mouth
Promotion refers to the various strategies and ideas implemented by the marketers to make the end - users aware of their brand. Like:
Advertising.
Word of mouth
Lately three more P’s have been added to the marketing mix. They are as follows:
Packaging- Attractive, transport, sale & exchange.
People- to whom and through whom goods are being sold.
Public relations- increase awareness through public relations (Customers, Govt., employees, retailers, wholesalers, press, )
Politics- (should go in accordance with rules & regulations made by law makers.)

14. Marketing Mix Product Place Target Market Price Promotion
Product Variety
Quality
Design
Features
Brand name
Packaging
Size
Services
Warranties
Returns
Place
Channels
Coverage
Assortments
Locations
Inventory
Transport
Target Market
Price
List price
Discounts
Allowances
Payment period
Credit terms
Promotion
Sales promotion
Advertising
Sales force
Public relations
Direct marketing

16. Utility/Importance of Marketing Mix
Helps in understanding important tasks of marketing.
Important tool of marketing programme.
It promotes better utilisation of limited resources.
Facilitates the meeting of different requirements of customers.
It provides customer satisfaction.
It helps in goal achievement.
It facilitates communication.
It helps in establishing relations with customers.
It helps in developing new products.

17. Factors affecting marketing Mix
Marketing Factors
Marketing planning
Brand policy
Package policy
Advertisement policy
Distribution channels
Physical distribution
Policy
Pricing policy
Market research
Product life cycle
Market segmentation (Gender, price, income, interest, location, region etc)
Market factors
Consumer behaviour
Competition
Distribution pattern
System.
4. Government control.

18. MARKETING MANAGEMENT

19. Acc. to Philip Kotler, “The analysis, planning, implementation and control of programmes designed to create, build and maintain beneficial exchanges with target buyers for the purpose of achieving organisational objectives.”
It is the art & science of choosing the target markets and getting ,keeping and customers growing through creating, delivering and communicating superior customer value.
Customer
Satisfaction
Profit
maximization

20. Marketing Management tasks
Converting negative
demand into positive
demand.
Eg: air travel
Conversional
Marketing
Transforming latent
demand into actual
demand. Eg: Nano car
Developmental
Marketing
Remarketing
To revitalize the product
Eg: hi-tech products
To monitor the demand
level and maintain it
Maintenance
marketing

21. Marketing Environment
The Company’s marketing environment consists of "the actors and forces outside marketing that affect marketing management's ability to develop and maintain successful transactions with its target customers”

22. Types of Marketing Environment
Suppliers
Demographic
Economic
Intermidiaries
Micro
Environment
Macro
Environment
Competitors
Technological
Political
Customers
Publics
Socio-cultural

23. Macro Environment 1.Demographic Environment 2.Economic Environment
The statistical study of human population and its distribution. Eg age, gender, income, religion.
2.Economic Environment
In order for an economy to exist there must be a ‘market’.
A ‘market’ exists where consumers have money to spend and are willing to spend it.
The economic environment is a significant force that affects the marketing of any organisation: eg unemployment, inflation, interest rates.
It also influences business cycles such as: prosperity recession recovery. These impact on what people buy, when and how.

24. 3.Socio-Cultural factors
Marketers are faced with changing socio-cultural patterns, lifestyles, social values and beliefs.
Changes that have significant marketing implications:
Emphasis on quality of life.
Changing gender roles.
Attitudes towards health, nutrition and well-being.
Impulse buying.
Desire for convenience and a premium on time.

25. The five categories affecting political–legal influences on marketing:
4.Political factors
The five categories affecting political–legal influences on marketing:
Monetary and fiscal policies.
Social legislation and regulations.
Government relationships with individual industries.
Legislation specifically related to marketing.
The provision of information and the purchase of products.

26. 5.Technological factors
Technology has had an impact on our lifestyles, work, leisure, consumption patterns and economic well-being.
Technology is a mixed blessing: it may improve our lives in one area while creating environmental and social problems in another.

27. Micro Environment 1.Customers
To identify and anticipate the needs of the customers, a company should gather information about them.
2.Competitors
Companies face competition from three main sources:
Brand—from manufacturers of similar products.
Substitute products—dissimilar products satisfying the same needs.
Indirect—other firms trying to win customers purchasing power.

28. 3.Suppliers
Organisations which provide the firm with the items it needs to conduct business.
For production of goods and services company requires lot of inputs. The firms and individuals who supply the inputs or resources needed by the company to produce goods and services are known as suppliers.

29. 4.Marketing Intermediaries
Defined as independent business organisations that directly assist the flow of products and services between a marketing organisation and its markets.
Resellers—wholesalers and retailers: the middlemen.
Facilitating organisations that provide transportation, warehousing, financing and other supportive services needed to complete the exchange between buyer and sellers.
They complete the trade or channels of distribution.

30. 5.Public Public comprises of consumers, labour unions, press & media, Govt. officials etc. These people affect directly or indirectly the marketing decisions of the company so before implementing any policy or procedure any company should take into consideration the view point of the above mentioned people.

31. Impact of Environment on Marketing
Direct
Impact
Indirect
Impact
Consumers, shareholder,
Suppliers, competitors,
labour org and govt. officials (they affect plans, policies & strategies.)
Economical, political,
Socio-cultural and
Technological factors.
(They affect investment, org
& structure)