Concern,Nature and Importance of Marketing

Concern,Nature and Importance of Marketing

Presentation byAjesh Mukundan P

09947426820

Marketing

‘Marketing is the management process

responsible for identifying, anticipating

and satisfying consumer requirements

profitably.’

-The Chartered Institute of Marketing

Identifying

'How do we find out what the consumer's requirements are?'

'How do we keep in touch with their thoughts and feelings and perceptions about our good or service.?

This is a key purpose of market research.

Anticipating - Consumer requirements change all the time.

For example, as people become richer they may

seek a greater variety of goods and services.

Anticipation involves looking at the future as

well as at the present. What will be the Next

Best Thing (NBT) that people will require

tomorrow.

Satisfying

- Consumers want their requirements to be

met. They seek particular benefits. They

want the right goods, at the right price, at

the right time in the right place.

Profitability - Marketing also involves making a margin

of profit. An organisation that fails to make a profit will have nothing to plough back into the future. Without the resources to put into ongoing marketing activities, it will not be able to identify, anticipate or satisfy consumer requirements.

What does a Marketer Do?

Why Bike?(Analyze Needs)

Bike Type (Product Plan)

Which people? (Segment)

What Quantity? (Demand Forecasting)

Where to Sell? (Distribution)

What to Charge? (Price)

What & how to inform? (Promotion)

Who all will compete (Analyze Competitors)

What is Marketed?

Goods

Services

Events & Experiences

Persons

Places & Properties

Organizations

Information

Ideas

Importance of Marketing

Importance of Marketing to Society Importance of Marketing to Companies Importance of Marketing to Consumers Importance of Marketing to Economy

Importance of Marketing to Society

Provides Employement Raises standard of living Reduces Cost Solves social problems Makes life easier

Importance of Marketing to Companies

Helps in Income generation Helps in Planning & Decision – making Helps in distribution Helps in exchanging information Helps adapt to changing environment Expands global presence Helps to earn goodwill

Importance of Marketing to Consumers

Provides quality product Provides variety of products Improves knowledge of consumers Helps in selection Consumer satisfaction

Importance of Marketing to Economy

Saves economy from depression Increase in National Income Economic growth Ploughing back if resources

Most pressing marketing concerns

Top concern is finding the right clients. Nearly 33

percent of the respondents cited a need to develop

marketing programs that attract good quality clients in

targeted niches.

> Develop structured marketing plans to access

your targeted markets, and then implementing these

plans.

Second most highly ranked issue is motivating firm

partners and staff to a sustained marketing effort (26.6

percent of respondents).

> Develop specific marketing plans.

Design customized marketing programs

Third major concern involved regular communications and follow-up with clients and potential clients (12.5 percent of respondents).

> Maintaining on-going communications programs

Constant communication is essential to

maintaining good business relationships

Fourth most mentioned marketing concern was firm visibility (10.9 percent of respondents)

> Increasing firm visibility might include public relations efforts

Sending substantive press releases and actively cultivating targeted media should be part of your marketing program.

Top things on the minds of 100 senior marketers who were asked to rank the issues that would have the greatest impact on their marketing decisions

Integrated Marketing Aligning marketing organization with innovation Building strong brands Consumer control over what and how they view

advertising Globalization of marketing efforts Growth of multi-cultural consumer segments Advertising creative that achieves business results Attracting and retaining top talent

Referrals http://www.marketingpower.com/

ResourceLibrary/Pages/default.aspx http://www.aicpa.org/pubs/tpcpa/oct97/

barchart.htm http://www.thetimes100.co.uk/theory/theory--

nature-role-marketing--245.php Philip kotler - marketing management (prentice

hall ptr, 2002 Kotler, Philip - Principles Of Marketing