Basic learning in this class

Why is marketing gaining importance what is marketing and marketing management How has marketing evolved over the period of time Some important concepts

Why Marketing ?
Changing technology Globalisation Deregulation Privatisation Customer empowerment Customisation Heightened competition Industry convergence Retail Transformation Disintermediation

Marketing is a process of planning and executing the conception , pricing , promotion and distribution of ideas, goods , services to create exchanges that satisfy individual and organisational goals

Marketing management is the art and science of choosing target markets and getting , keeping and growing customers through creating , delivering and communicating superior customer value

Marketing is all about managing demand

Negative demand nonexistent Latent declining demand Irregular demand full demand overfull demand unwholesome demand : undesirable social consequences They thus seeks to influence
1. 2. 3.

Level Timing Composition

of demand

What can be marketed

Goods Services Events experiences persons and many more . Places properties organizations information ideas

Concepts underlying in conducting business

Production product selling Marketing Holistic marketing concept
integrated marketing Relationship marketing Internal marketing socially responsible marketing

Internal marketing

Integrated marketing

Marketing department Senior management other departments

Communications Products and services Channels

Holistic marketing

socially responsible marketing

Ethics environment legal community

Relationship marketing

Customers channel partners

Tasks of a marketing manager

Develop marketing strategies connecting with customers building strong brands shaping the market offerings delivering and communicating value Capturing marketing insights and performance Creating successful long term growth

Core marketing concepts

Needs ,wants and demands Target markets, positioning , segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competion Marketing environment Marketing planning