Importance of Marketing: Marketing (HSEB 10+2) (Lecture 1.5)

1

Review Lecture 1.4 Assignment 8:

Research on the development of media in Nepal. (Worksheet Attached)

Lecture Review – Evolution of Marketing:

Self Sufficient Existence Era

Barter and Exchange Oriented Era

Trade Era Development of Money

Production Orientation Era

Sales Orientation Era

Marketing Company/Orientation Era

Relationship Marketing Orientation

Social/Mobile Marketing Era

1.5 Importance of MarketingKAUSHAL RAJ SAPKOTA

FACULTY, MARKETING (HSEB 10+2), ULLENS SCHOOL

3

Importance of Marketing Consumers

Firms

Society

REMEMBER: Marketing is NOT just PROMOTION

Marketing is the process of researching into and identifying consumer needs and applying appropriate product, price, place and promotion strategies to satisfy those needs profitably.

4

5

Consumers Satisfaction of needs, wants and desires Solution

Options to choose from

Standard of living

Correct Information

Creation of utilities

Form Utility the form THEY want

Place Utility the place THEY want

Possession Utility it will be THEIR Possession Solution

6

7

Firms Market research and business planning implications

Expansion, Product Development, Market Development, Diversification Ansoff’s Matrix

Identify market gaps and take advantage

Branding the product

Increased sales increased profits

Withstand competition towards being the market leader

Communication Delivering correct information

Social Projects

8

Society Provide Employment Marketing Industry

Standard of Living Availability of Goods and Services

Increase national consumption Increase in GDP

Inform society about different issues

9

10

End of the lecture Assignment 9:

Research and identify at least 20 specific cases where your school might need help from a marketing expert.

Thought of the day:

“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.Peter Drucker