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Welcome To You All in The World of Marketing
Welcome To You All in The World of Marketing
Welcome To You All in The World of Marketing
in
the World
of
Marketing
What is Marketing?
Societal process
Demand management to bring
about profit
Stimulates demands
Retains customers by winning
loyalty
Delighting customers
American Marketing Association
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Philip Kotler
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Marketing
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Marketing Management
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Elements of Marketing Definition
a. Is a process
b. It consists of activities
Product related Price related
Promotion related Place related
Customers analysis, segmentation,
and activities related to MIS
c. Satisfies customers needs and wants
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d. Facilitates exchange relationship
Money
Product
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e. Marketing helps in achieving
organizational objectives
Profit
Services
Growth
Survival
Leadership
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f. Marketing occurs in
dynamic environment
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Core concept of Marketing
Needs, Value
Segmentation Products
Wants, &
Target Market Offerings
Demands Satisfaction
Relationship Exchange
Markets, Supply
Networks Transaction
Marketers Chain
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Market
The set of all actual
and potential buyers
of a product or
service
Conditions
❖ People or organization with needs or wants to
satisfy
❖ Money to spend
❖ Willingness to spend through exchange
Marketplace Market-space
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Marketers
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A Simple Model of Marketing Process
Create value for customer and build
customer relationship
Construct an
Understand the Design a integrated Build profitable
marketplace and customer-driven marketing relationship and
customers need marketing program that create customer
& wants strategies delivers delight
superior value
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Maslow’s
Hierarchy of
Needs
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This Is a Want
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Need / Want Fulfillment
Needs and Wants
Fulfilled through a
Marketing Offer :
◦ Some combination of
products, services,
information, or experiences
offered to a market to
satisfy a need or want.
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What Satisfies Consumers’
Needs and Wants?
Products
Anything that can be Offered to a Market to Satisfy a Need or Want
Services
Activity or Benefit Offered for Sale That is Essentially
Intangible and Does Not Result in the Ownership of Anything
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This Is Demand
“Demand”
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Segmentation
Target Market
Target Marketing:
Select the segment to cultivate
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Value & Satisfaction
Benefits
Value =
Cost
Dependent on the
product’s perceived
performance relative
to a buyer’s
expectations.
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Value and Satisfaction
8 10 10 8
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Customer Perceived Value
Customer’s evaluation of
the difference between
all the benefits and all
the costs of a marketing
offer relative to those of
competing offers.
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Exchange & Transaction
Exchange
The act of obtaining desired object from
someone by offering something of value in return
Transaction
Trade of values between two or more parties
Network
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Customer Relationship Management
The process of
building and
maintaining profitable
customer
relationships by
delivering superior
customer value and
satisfaction.
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Customer Loyalty & Retention
Share of Customer
◦ The share a company gets
of the customer’s
purchasing in their product
categories.
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Customer Equity
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Supply-chain
Is a value delivery network. Each party in the
chain creates a higher value for the others
involved in the chain, in return part of the value
created is retained as PROFIT by each party.
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Thank you !
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