Marketing basic

MARKETING

AVINASH KUMAR

STRUCTURE

• Compare alternative definition of marketing

• Exchange processes• Marketing mix or 4P’s• Function of marketing • Importance of marketing • Marketing concepts• View on old and new

marketing concept• Impact of modern marketing

“Marketing is management processes for identifing,anticipting and satisfying consumers’ requirements profitably”

Alternative definitions of marketing

“the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

Exchange process

PRODUCTIION ERA Sale ERA marketing ERA

1930 1950 present

Industrialrevolution

Marketing mix

Product PRICE PLACE PROMOTION

product

• Product is anything that is capable to satisfying customer satisfying.

• A package of benefits.

• Product are designed to match needs.

product

• Quality• Features• Option • Style• Brand name• Packaging• Sizes• After sale service

• Warranties• Returns • And more

PRICE

• Pricing is key is to correlated its pricing strategy with its product position in market.

• Pricing is sum of all value that consumers exchange for the benefits of having or using product or services or idea .

• Pricing key is only the element in mix concept that broad revenue.

• Involves getting product form manufacturer to ultimate consumes

• It is interface between the producer and customers

• Distribution channels

Place

• Marketing communication-now the product communication to market.

• Can use media • Dealer sale incentive contest• Trade show • Press release

promotion

FUNCTION OF MARKETING

• Cundiff and still have described functions into three categories as follow

1.Mechandizing functions2.Physical distribution and

functions 3.Auxiliary functions

• Its deliver to increasing standard of living to the society.

• Decrease in distribution cost. • Increasing employment

opportunities.• Increasing national income.

Importance of marketing to society

Importance of marketing to Indian economy

• Balanced growth of country• Increase national income, per

capita income, sale of goods, export and profits.

• Development of warehousing, packing industries, banking, new media.

Importance of marketing to company

• Helpful in planning and desion making

• Increase in profit• Helpful in communication

between society and business

Marketing concepts (Exchange

concept)• Exchange concept is central idea of marketing

where seller and buyer exchange of values.• A proper scrutiny of marketing processes then we

will find that marketing is much broader than the exchange process

• Its cover all distribution aspect and price mechanism.

Production concept• Its hold products with low price and easily

available products.• Focused on production to achieve the

efficiency of production .• Its exist when demand exceeds supply.• In other ways production concept is fail to

serve are right marketing philosophy for the enterprise

Product concept • Its hold customers favors quality,

performance, innovation features etc.• Product concepts seeks to achieve result via

product excellence. And emphasis on quality assurance

• Myopia when organization love product its leads to marketing myopia because the focus is on product rather the customers needs

Selling concept• Its all about undertakes an aggressive

selling and promotion effort.• Mass production and distribution • According to concepts public often

identifies marketing with hard selling and advertisement .so profit through hard selling

Marketing concept • Its start with consumer want and end

with satisfaction of those wants.• It is rest on four pillars and they are

target market, costumer need, integrated marketing and profitability

• Profit through consumer satisfaction.

Social marketing

• It hold analysis target market and know and customers need.

• Societal marketing concept build social and ethical consideration into marketing practices.

• Profit through the human satisfaction.

Old marketing and New marketingconcept

Old concept or production oriented concept

• Its stresses upto production.• Its all about physical distribution of good and

service from producer to consumer.• Its start after good produced and ends after

good have been sold.• It does not provide any allied activity of

marketing .• The ultimate object of marketing is to

maximize the profit by maximize the sales.

• According to this concept customer is king, customer satisfaction is prime object of an enterprise.

• Need and want of customer must be identified properly and deeply

• Production accordance the need and wants.

• All resources must utilized to the best extent so minimized the cost of production

New marketing concept or customer oriented concept

Impact of modern marketing

• Helping in production development

• More social satisfaction• Impact towards national

economy

If You have any question