CHAPTER -1
MARKETING:
DEFINING AUTHOR NAME: PHILIP
KOTLER
MARKETING FOR
THE 21 CENTURY
ST
DISCUSSION QUESTION
1. What is Marketing?
2. What is the importance and scope of marketing?
3. What is the evolution of marketing management?
4. What is the marketing concept and social responsibility?
5.What is the basic function of marketing?
6. What are the task necessary for successful marketing
management?
WHAT IS MARKETING?
•Marketing is not just selling and advertising!
SIMPLEST DEFINATION:
Satisfying Customer needs.
Marketing: An organizational function and a set of processes for
creating, communicating, and delivering value to customers and for
managing customer relationships in ways that benefit the
organization and its stakeholders.
WHAT IS MARKETING? CONT..
Marketing Management: The art and science of choosing
target markets and getting, keeping, and growing
customers through creating, delivering, and
communicating superior customer
value.
WHO IS
MARKETED?
• Goods
• Services
• Experiences
• Events
• Persons
• Places
• Properties
• Organizations
• Information
• Ideas
WHO MARKETS?
MARKETERS AND PROSPECTS A marketer is someone who seeks
a response—attention, a purchase, a vote, a donation—from another
party, called the prospect. If two parties are seeking to sell something
to each other, we call them both marketers.
TYPE OF
DEMAND
MARKETS
SIMPLE
MARKETIN
G SYSTEM
KEY CUSTOMER MARKET
• Consumer Market: Company selling mass consumer goods and services
• Business Market: Companies selling business goods and services
• Global Market: Company in the global marketplace must decide which countries to
enter; how to enter each; how to adapt product and service features to each country;
how to price product in different country; and hoe to design communications for different
cultures.
• Non-Profit and Governmental Markets: Companies selling product to non-profit
organization with limited purchasing powers such as; universities, charitable
organizations.
CORE CONCEPTS OF MARKETING
MANAGEMENT
• Production Concept
• Product Concepts
• Selling Concept
• Marketing Concept
• Societal Concept
PRODUCTION CONCEPTS
• The company following the production concept believes in
the fact that it should produce goods efficiently and try to
bring down the prices so that products become affordable
• The firm undertakes mass production and makes an effort
to improve the distribution.
PRODUCT CONCEPTS
• According to this concept. People like products which are
very good in terms of performance and quality.
• The company aims at making a continuous effort towards
products improvement and innovation.
SELLING CONCEPTS
• According to this concept the company’s entire focus is on
selling, hence making a lot of sales.
• The selling effort is backed by serious promotion and
advertising.
• The company does not bother about the market demand,
they just want to sell what they product.
MARKETING CONCEPTS
• The marketing concept is concerned with:
- First identifying the customer needs and
- then making products that give maximum customer satisfaction
• Marketing starts before the product, or service is ready and continues
even after the sale has been made.
• The firm here aimsto make products and provide services better than
the competitors.
MARKETING CONCEPTS CONT…
• The company makes sincere efforts towards retaining the
customers and also attracting new ones.
• If the customers are satisfied with the product, they will
but it again and again and also tell other people about it.
• The job is not to find the right customers for your product,
but the right products for your customers.
SOCIETAL CONCEPT
• Societal concept focuses on consumer needs and wants,
profits and the social welfare. Thus helps in improving the
image of the company.
• The firm are concerned with social issues like
environment problems and pollution caused by the waste
material, health problems caused by fast food etc.
• Balances human welfare, company profits and consumer
satisfaction.
NEW MARKET ORIENTATION
Holistic Marketing Concept
The holistic marketing concept is based on the
development, design and implementation of marketing
process, programs and activities that recognize their
breadth and interdependencies.
FOUR
COMPONENT
OF HOLISTIC
MARKETING
7 P’S
MARKETING
MIX
MARKETING MANAGEMENT TASKS
•Developing marketing strategies & plans
•Capturing marketing insights
•Connecting with customers
•Building strong brands
•Shaping the market offerings
•Delivering value
•Communicating value
•Creating long-term growth
