Introduction to Marketing

Mr. Mayank Agrawal

Assistant Professor (SOCM)
 What is Marketing
Selling
Advertising
Promotions
Making Products available
Marinating Inventories

All of the above! Plus Much More????

 Class Exercise-I

Think about your latest purchase. Enlist the factors that

motivated you to purchase that product like:

• Good Quality
• Appearance
• Low price
• Easy Availability
• Your Father/Friend asked/advised you.
• Ranbir/celebrity is in that advertisement
A Simple Marketing System
Social Definition

Marketing is a societal process by which individuals and groups

obtain what they need and want through creating, offering and
freely exchanging products and services of value with others

AMA Definition

Marketing is the process of planning and executing the

conception, pricing, promotion and distribution of ideas, goods
and services to create exchanges that satisfy individual and
organizational goals.
Kotler Definition

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.
 Communicating that
conceptualization to the customer

Conceptualizing the consequent

output in terms of the customer needs
earlier identified, and

Conceptualizing those needs in terms

of an organization’s capacity to
produce.

Identifying customer needs

JOHN.A. HOWARD
COLUMBIA UNIVERSITY 1973
What is Marketing?
Marketing is the process of
 planning and executing the conception,
 pricing,
 promotion, and
 distribution of ideas, goods, and service
to create exchanges that satisfy individual and
organizational objectives.

More simply: Marketing is all about satisfying needs

(...Profitably and Fairly…)!!!
Marketing is a process by which
• companies create value for customers and
• build strong customer relationships to capture
value from customers in return
 GOODS PLACES

SERVICES
EXPERIENCES EVENTS
PERSONS
PROPERTIES
INFORMATION

ORGANIZATIONS
IDEAS
 Selling is only the tip

“There will always be a need for

some selling. But the aim of marketing is
to make selling superfluous. The aim of
marketing is to know and understand the
customer so well that the product or
service fits him and sells itself. Ideally,
marketing should result in a customer who
is ready to buy. All that should be needed is
to make the product or service available.”
Peter Drucker
Good Marketing is No Accident

The roaring success

of four-wheeler Tata
Ace, in a market
earlier dominated by
three-wheeler load
carriers, was due to a
deep understanding
of the market needs
and customer
requirements.
 UNDERSTANDING MARKETING

• Marketing: The process of finding customer needs

and serving those needs profitably
• Profit from customer satisfaction
• Provide desired value to customers
• Retain customers to enhance profitability