MARKETING

MANAGEMENT
Unit-1
DEFINITION

 Marketing is the process of discovering &

translating consumer needs & wants in to
product and service specifications,
creating a demand for these products &
services, then expanding this demand.
MARKETING MANAGEMENT :-

It is the process of planning & executing the

conception, pricing, promotion &
distribution of goods, services and ideas to
create exchanges with target group that
satisfy customer and organizational
objectives.
NATURE OF MARKETING
1. Marketing is Customer Focused :- It intends to satisfy and delight the customer. The
activities of marketing must be directed & focused at the customer.
2. Must Deliver Value :- Marketing have to track customer needs & deliver the product
as per their requirement. It is formulated as  
Customer Value = Benefits / Costs
3. Business :- When customer is the focus of all activities, marketers has not to search
customer to seek response to his products.
4. Surrounded By Customer Need :- Marketing starts with the identification of
customer needs & requirements.
5. Part of Total Environment :- Total environment is the combination of all resources &
institutions, which are directly related to the production & distribution of goods,
services, ideas, places & persons for the satisfaction of human needs
6. Marketing Systems Affect Company Strategy :- It has its own sub-system which
interact with each other to form complete marketing system that is responsive to
complete marketing system or strategy.

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SCOPE & FUNCTIONS OF MARKETING
 Marketing Research :- It helps in analyzing the buyer’s habits, relative popularity
of the product, effectiveness of advertisement media etc.
 Product Planning & Development :- A product is something, which is offered by a
business firm to customer to satisfy their needs.
 Buying & Assembling :- Procurement of raw materials, semi-finished or finished
products has gained great importance for the modern purpose.
 Selling :- It is an important aspect of marketing under which ownership of goods is
transferred from the seller to the buyer.
 Packaging :- It has become one of the essential services of modern marketing.
 Storage :- Goods are generally produced in anticipation of demand and storage of
goods in warehouse has become indispensable service these days.
 Transportation :- It is essential to more the products of consumption and for this
transportation facilities are must to be rendered.
 Advertising :- It has become an important function of marketing in the competitive
world, it helps to spread the message about the product and thus promote its sale.
CONCEPTS OF MARKETING
 CONCEPTS
 Production Concept – Consumers prefer products that
are widely available and inexpensive. The production
concept is more operations oriented than any other
concept. It was based on “Says Law” which focused on
the law that if product is made someone will need it and
buy it.
 Product Concept – Consumers favor products that offer
the most quality, performance, or innovative features.
The product concept believes in the consumer and it says
the consumers are more likely to be loyal if they have
more options of products or they get more benefits from
the product of the company
CONTD..
 Selling Concept – Consumers will buy products only if
the company aggressively promotes or sells these
products. Off course, in this era of marketing, we know
that selling is not the only tactic to sell your product
 Marketing Concept – Focuses on needs/wants of target
markets & delivering value better than competitors. The
marketing concept believes in the pull strategy and says
that you need to make your brand so strong that
customers themselves prefer your brand over every other
competitor. This can be achieved through marketing. 
CONTD..
 Societal Marketing concept – Focuses on needs / wants
of target markets & delivering value better than
competitors that preserves the consumer’s and society’s
well-being.
 Holistic marketing concept is a part of the series on 
concepts of marketing and it can be defined as a
marketing strategy which considers the business as a
whole and not as an entity with various different parts.
.
CONTD..
 According to holistic marketing concept, even if a
business is made of various departments, the
departments have to come together to project a positive
& united business image in the minds of the customer.
Holistic marketing concept involves interconnected
marketing activities to ensure that the customer is likely
to purchase their product rather than competition
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concept/
MAJOR MARKETING CONCEPTS
 Target Markets & Segmentation :- Market segments can be
identified by examining demographic, psychographics & behavioral
differences among buyers and then marketer decides which segment
presents the greatest opportunity – which are its target markets.
 Market - Place, Market Space & Meta Market :
 Market Place :- It is generally physical when one goes shopping in
a store is market place.
 Market Space :- Is digital as one goes shopping on the internet.
 Meta Market :- Cluster of complementary products & services that
are closely related in the minds of consumer but are spread across
diverse set of industries.
 Marketers & Prospects :- Marketer is someone who is seeking
response like attention, purchase, vote & donation from another
party interested known as prospect.
CONT.
 Needs, Wants & Demands :- Needs are the basic human requirements like are,
water, food, clothing, shelter etc to survive.
 Product, Offering & Brand :
 Product :- Product is something tangible or non-tangible thing needed to satisfy.
 Offering :- Set of benefits offer to customer to satisfy their needs.
 Brand :- Brand is offering from a known source e.g. Mc Donald’s serve Ham
Burgers, Veg. Burgers etc.
 Exchange & Transactions :- This is the core concept of marketing. Transaction is a
trade of values between two or more parties.
 Marketing Channels :- When products are required to reach a target market.
 Communication Channel
 Distribution Channel
 Service Channel
 Supply Chain :- Generally marketing channels connect the marketer to the target
buyer’s the supply chain describes a longer channel streaking from raw materials to
components to final products that are carried to final buyers.
 Competition :- Competition includes all the actual & potential rival offerings &
substitutes that a buyer might consider.  
DIFFERENCE BETWEEN MARKETING &
SELLING
Marketing Selling

It starts with the customer needs and takes Selling starts with the factor of sales with
all of the view of the market. limited view of market.
It focuses on customers needs. It focuses on seller’s need of converting his
product in to cash.
Emphasis is given on product planning & Emphasis is placed on sale of product
development to match products with the already produced.
market.
Customer is treated as a king, he is given Seller / product enjoys supreme importance.
supreme importance.
It aims at profit through customer It aims at profit through sales volume.
satisfaction.
Views business as customer satisfying Views business as goods producing process.
process.
Emphasis on integrated marketing covering 4 Emphasis on somehow selling no co-
P’s. ordination among other functions.
MARKETING

ENVIRONMENT
Unit-1
INTRODUCTION

 According to Philip Kotler, marketing environment

refers to “ external factors & forces that affect the
company’s ability to develop & maintain successful
transactions & relationships with its target
customers.”
 CONT.
Marketing environment

Micro Environment Macro Environment

•Company •Demographic forces

•Suppliers •Economic forces
•Market intermediaries •Political & legal forces
•Customers •Social & cultural forces
•Competitors •Physical forces
•Public •Technological forces
•Competitive forces
•Consumer demand
COMPONENTS OF MARKETING ENVIRONMENT
 Company’s internal environment:- top mgt, finance,
purchasing,production,accounting,R&D
 Market intermediaries:- resellers, physical distribution
firm, marketing services agencies, financial
intermediaries
 Customers:-ultimate customers, industrial customers,
resellers, government customers, foreign customers
 Publics:-financials public, media publics, government,
citizen action public, internal publics, local publics,
general publics