Evolution of marketing and Customer Orientation

Evolution of Marketing and Customer Orientation

Tejas Jadhav 22Swera Modi 29Swapnil Pawar 40Aditya Shetti 50Evolution of Marketing and Customer OrientationWhat is Marketing?Marketing is a societal and managerial process where people and organizations ( customers) obtain what they need and want by exchanging products and services of value with each otherMarketing focuses on the needs and wants of customers. It is concerned about satisfying customers through supply of goods and services.Concepts of MarketingThe Exchange ConceptThe Production ConceptThe Product ConceptThe Selling ConceptThe Marketing ConceptThe Societal ConceptThe Relationship Marketing ConceptThe Holistic Concept of Marketing

The Exchange ConceptAccording to this concept, marketing involves the exchange of a products between the seller and the buyer. This concept assumes :- Customers will accept products of any quality available in the market.Characteristics: - Lack of market research, emphasis only on profits, no after sales service.The Production Concept

This concept assumes:-Customers will prefer those products that are widely available and are of lower price.Characteristics: Produce as cheaply as possible Keep prices lowPeople will buy anything as long as its cheap enough

The Product ConceptThis Concept assumes:-Consumers will prefer those Product that offers best quality and performance.Characteristics: Products are designed to have a lot of features that meet the needs of a large number of customersTakes the view that if the product is right it will sell itself

The Selling ConceptThis concept assumes:- Consumer will prefer those products which are aggressively promoted with the help of publicity, advertising, salesmanship and sales promotion.Characteristics: People will buy only if they are sold toHigh pressure sales pitches

The Marketing Concept(Customer oriented Concept)This concept assumes:- The success of the organization largely depends on Customer Satisfaction.Characteristics: Look at what the customer wants/ needsActs accordinglyThe customer is at the centre of everything the organisation does- activities are co-ordinated around customer needs

The Societal ConceptThis concept assumes that a company can prosper, if it strikes balance between;Societys welfare + Customer Satisfaction + Companys profits.

The Relationship Marketing ConceptAssumes that:- Company will prosper and progress, if it maintains excellent relationship with various stakeholders.The Holistic Concept of Marketing Philip Kotler introduced the Holistic concept of marketing, which gives competitive advantage to business firms.

Marketing : Over the years

Present & FutureUsage of Big DataInbound Marketing _ NarrowcastingAmazon Fire (Firefly)AppsSocial MediaLocation based marketing (Foursquare)Twitter and Amazon (#AmazonCart )Amazon DronesMobile ConsumersGoogle GlassWearable Technology (Fuel bands, Gear, iWatch)3D Printers