Marketing management

Marketing management

Unit 1

Selling

• Marketing is “identifying needs and wants and also satisfying it with the right marketing mix”

Marketing mix = Product +price +place +promotion

Selling is marketing but marketing is not selling.

Marketing definitions

• Social definition – satisfying needs and wants through creating, offering and freely exchanging products and services of value with others.

• Managerial Definition – the art of selling product.

• Philip Kotler - “satisfying needs and wants through an exchange process”.

How people get products?

Self produceExchange

TransactionTransfer

Exchange is the core concept of marketing

What is marketed?

1) Goods 2) Services 3) Events 4) Experiences

5) Persons 6) Places 7) Properties

8) Organizations 9) Information 10) Ideas

Demand

8 types of demands

1) Negative demand 2) Non existent demand3) Latent demand4) Declining demand5) Irregular demand6) Full demand7) Overfull demand8) Unwholesome demand

Philosophies of marketing

• Production concept• Product concept• Sales concept• Marketing concept• Societal Marketing Concept

• Holistic marketing• Socially responsible marketing

Marketing Process

Market environment analysis

• SWOT analysis• PEST analysis• 5 c analysis

Marketing Strategy

• Segmentation• Targeting (target market selection)• Positioning the product within the target

market• Value proposition to the target market

Marketing Mix

Marketing Environment

Internal

• The Company• Suppliers• Marketing Intermediaries• Customers• Competitors• Publics

External

• Demographic• Economic• Natural• Technological• Political• Cultural

Demographic environment

An Indian Perspective Current Population of India in 2012 1,220,200,000 (1.22 billion)

Total Male Population in India 628,800,000 (628.8 million)

Total Female Population in India 591,400,000 (591.4 million)

Sex Ratio 940 females per 1,000 males

Age structure

0 to 25 years 50% of India's current population

Currently, there are about 51 births in India in a minute.

India's Population in 2011 1.21 billion

India's Population in 2001 1.02 billion

Population of India in 1947 350 million

Economic Environment

• Monetary and Fiscal policy.• Indian environment:- – CRR – 6%– SLR – 24%– Bank rate – 6%– Repo rate – 8.5%– Reverse repo rate – 7.5%

Inflation rate changes

Political environment

• Mullai periyar issue.• Koodankulam issue.• Central government plans.• State government plans – Giving freebies.• Legal changes – Banning lotteries, tobacco

advertisement ban etc.

Technological Environment

• Motorola phone - Apple’s Iphone• Radios - 3D TV• Postal - Emails• Clubs - Social medias.

Natural environment

• Oil resources in Gulf countries.• Agriculture strength of India.• Kimberly diamonds in South Africa.

Cultural environment