Introduction To Marketing
Boot-Camp
Welcome & Introduction
EXERCISE:
Marketing…. V/S Sales….
• …. • …..
INTRODUCTION – STRATEGIC MARKETING
MARKETING – FUNCTIONAL DEFINITION
“Marketing is the management process for identifying, anticipating
& satisfying customer requirements profitably”.
“Marketing is the process of planning & executing the conception,
promotion and distribution of ideas, goods & services to create
that satisfy individual & organization’s objectives”.
Marketing as a functional process.
Marketing is increasingly being conceptualized as an organizational
philosophy or an approach to doing business.
INTRODUCTION – TO STRATEGIC MARKETING
MARKETING – FUNCTIONAL DEFINITION
The marketing concept is managerial orientation
which recognize that success primarily is dependent
upon identifying changing customer need and
developing products and developing products and
services which match these better than competition
To look at customer needs from competition’s eye!
INTRODUCTION TO STRATEGIC MARKETING
MARKETING IN STRATEGIC TERMS
• Marketing is a management process whereby the resources of the whole
organization are utilized to satisfy the needs of selected customer groups in
order to achieve the objectives of both parties. Marketing, then is first and
foremost an attitude of mind rather than a series of functional activities.
• Marketing is so basic that it cannot be considered a separate function on a
par with others such as manufacturing or personnel. It is first a central
dimension of the entire business. It is the whole business seen from the
point of view of its final result. That is, from the customer’s point of view.
STRATEGIC MARKETING
CONCEPT OF MARKETING:
• Past Three Decades, the Concept of Marketing has changed
dramatically.
• Evolved from:-
Focus on Product
Making a “Better” Product
Where “Better” was internal standards and values.
Objective was Profit and the means to achieving the
objective was selling or persuading the potential
customer.
STRATEGIC MARKETING
NEW CONCEPT OF MARKETING (1960)
• Shift of focus from product to customer
• Objective was still profit but means of achieving
objective expanded to include entire Marketing
Mix (Four Ps)
STRATEGIC MARKETING
STRATEGIC CONCEPT OF MARKETING (1990s)
• New concept of Marketing was outdated
• Shift from customer or product to the customer in the context of broader
external environment.
• Marketers must know the customer in a context including competition,
govt. rules & regulation, broader economy, evolution of market etc.
• Objectives from profits to stakeholders benefit i.e.
Employees & Management
Customers
Society & Govt.
• Profits are reward for Performance.
• Employee commitment to continuing innovation and quality.
• Means of strategic marketing is strategic management.
STRATEGIC MARKETING
STRATEGIC CONCEPT OF MARKETING (1990s)
• Senior Management integrates marketing with other
management functions.
• Profits are still a critical objective and measure of marketing
success but it is not an end in itself.
• Aim of marketing is to create value for stakeholders (Key being
customer)
• Shift from microeconomics maximization paradigm to a focus
of Managing Strategic Partnership and Positioning the firm
between vendors and customers in the value chain (Boundary
less Marketing)
• 5 Ps of Marketing – Product, Price, Place, Promotion, Probe
What is Marketing?
It is a process by through which companies identify and satisfy
customer needs wants and demands at profit.
It is a process by which companies create value for customers
and build strong customer relationships to capture value from
the customers in return.
Marketing Management Orientations
1. Production Concept
2. Product Concept
3. Selling Concept
4. Marketing Concept
5. Societal Marketing Concept
Know your Customer
– Who is your customer?
– What are their objectives and buying motives?
– What is their prior knowlegde?
– What are their expectations?
What not to do:
1. Mud against Wall Techniques
2. Marketing Like Columbus
Marketing goal
Marketing is 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.
(Approved July 2013)
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Value Chain
STRATEGIC MARKETING
ESSENCE OF MARKETING – THE THREE PRINCIPLES
OF MARKETING:
1. Customer Value & Value Equation
Create customer value greater than competition
V = B/P, V = Values, B = Perceived Benefits / Perceived Costs
P = Price
2. Competitive & Differential Advantage
Total Offer vis-a-vis Competition
3. Focus
Focusing or customer needs.
