1:Definition of Market?

 Market:- A market is a place where two parties can gather to facilitate the exchange of
goods and services.

2:Definition of Marketing?

 Marketing:- Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large.

Three Levels Of Marketing:-

 Need:- A need is a consumer's desire for a product's or service's specific benefit, whether that be
functional or emotional.
 Want:- A consumer want is the desire for products or services that are not necessary.
 Demand:- Demand is the economic principle that describes a consumer’s desire, willingness
and ability to pay a price for a specific good or service.
  3:Why marketing is an economic activity?
Importance of Marketing for the Economic Development of a Country!
Marketing is based on demand and supply of product as economics.Marketing discovers needs
and wants of society, produces the goods and services according to these needs creates demand
for these goods and services. Second important liability of marketing is control the cost of
distribution. Marketing helps in protecting society against all these problems.

 4:Bases Of Marketing:-
. These bases range from age, gender, etc. to psychographic factors like attitude, interest, values, etc.

“Creation Of Demand”
Demand creation is commonly utilized for new products and services, where the demand has
not been proven or tested yet. In short, marketers want to create and study the demand for a
certain product or service targeted towards specific consumers.
“Demand creation is the process of increasing the demand for a product or
service using marketing techniques.”
People create demand by offering you benefits/bundle of benefits , attached with the product or
services or ideas P/S/I.

P: Tangible/Physical form

S: In-tangible/ Non physical form

I: Same as above

 International Definition of Marketing:-

“Marketing is an economical activity ,process , method which deals with the
Flow of P/S/I from producers to consumers.
 Economical …….. related to economics
  Bases of economics ……Demand and supply……Bases of marketing

 Creation of demand:- Offering benefits/bundle of benefits attached with the P/S/I.

 Traditional Flow of market:-

Producers Market Retailor Customer Consumer

Intermediators
UFG FG  Whole seller Seller of Buyer of User of
 Middle man P/S/I. P/S/I. P/S/I.

Raw Ready  Distributors

Goods Goods  Stockists
P/S/I

N
  Non Traditional flow of market:-
Non-traditional marketing is any unconventional, strategic marketing program, activity or tactic
that uses uncommon methods to reach a target audience in a new way. Because marketing is
constantly changing, the tactics that are considered "non-traditional" will continue to evolve over
time.

 Types of Non-Traditional Marketing:

1. Street Marketing
2. Stunt Marketing
3. Membership Marketing

 Producers Market:-
Producers buy goods and services and transform them into a sellable product, which they sell to
their customers for the purpose of making a profit. Examples of producers are farmers,
manufacturers and construction companies.

 Intermediated Market:-
A situation in which one or more financial institutions stand between counterparties in a
transaction. For example, in the sale of a house, a bank usually intermediates the market by
providing a mortgage to the homebuyer.

 Competitive Market:-
A numerous producers that compete with one another in hopes to provide the goods and services
we as consumers,want and need.

Product Services/Idea

1:Tangible (Physical Form) 1:In-tangible (Non-Physical form)

2:Transferable 2:Non-transferable

3:Non-Perishable (Discard / do not finish after 3: Perishable (Finishes after use).

use).

4: Can claim ownership of product. 4:Can’t claim ownership of services and ideas.

 De-Marketing:-
“The use of advertising to decrease demand for a product that is in short supply.
When demand exceeds supply.

Marketing Management:
"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' (Kotler and Keller, 2008: 5)."

 Definition:-
Marketing is the process used to determine what products or services may be of
interest to customers and the strategy to use in sales, communications and business development
(Kotler et al. 1996).

Marketing process of planning , organizing , leading , controlling , assurance , of

MD Organisational resources of FR,IR,HR and PR To achieve

Organizational goals.
FD

HD

ID

GD
FR: Financial Resources FD:Financial Department ID:Informational Department

IR: Informational Resources MD:Management Department

HR:Human Resources HD: Human Department

PR:Physical Resources GD:General Department

 Tools Of Marketing:
TOOL:Equipment/Method/Technique

TOLL: Collection of money

1:-Sales:- *FB:50Rs off…..*PB:10% off upto 70%off ….SB:Buy an AC (1500 wire and
service free)

2:Personal Saving:- Human activity/Technical activity

M.M :Mobile Marketing, O.M: Online Marketing

3:Advertising:- this is for P/S/I.

4:Publicity:-Co/Org/Personal promotion

FB : Financial Benefit

PB: Percentage Benefit

SB:Structural Benefit

• Publicity • Publicity & • Advertising

Advertising

McDonald offers All Q mobiles

McDonald offers sunday bunch b/w available in leading
sunday bunch b/w 9:00am---11:00am store Islamabad.
9:00am---11:00am
IC----S.D---B Q 1233...etc
  Difference between advertising and publicity:-
Advertising is what a company says about its own product, but Publicity is what others says
about a product. ... Advertising is under the control of the company which is just opposite in
the case of publicity. Advertising repeatedly occurs to grab the attention of the customers
while Publicity is done only one-time act.

 Domain/Area/Scope/Dimension…..?
“Is marketing an art , science or both…??”

 Art: Not Proven ..!

 Science: That is proven…!

Art Science
1:Un-Proven Phenomenas 1:Proven Concepts
2:Un-proven ideas 2:Proven Theories
3:Un-proven concepts 3:Proven Principles
4:Irrational (doesn’t make sense) 4:Proven Laws
5:Cannot be calculated 5:Rational (They make sense)
6:Hypothetical theory 6:Can be calculated
7:Un-proven Assumptions 7:Grounded theory
  21st Century of Marketing:-
 A new paradign shift.

 A new landscape for marketing.

“ Dealing with pressure from globalization, acquiring and keeping a strong employee
workforce and effectively using social media and technology are three challenges that
strategic managers face in the 21st century.”

 Three 21st Century Challenges of Marketing:-

 Globalization:-
Globalization has had an effect on businesses as smaller local stores have to compete
with larger chains that have the means to charge lower prices. It creates a larger customer
base, so companies have to take new target markets into account .

 Acquiring and Keeping:-

Acquiring and keeping a strong employee workforce has also become a
challenge as companies have to choose candidates more carefully to ensure that they fit their
business. In addition, there is now a larger pool of candidates.. With more candidates, it is
critical for companies to be able to make effective hiring decisions.

Social Media:-
Customers can now be reached through social media websites, and technology
resulted in new ways to manage supply chains.

E—Marketing

E---Advertising

E---Publicity

E---Selling

E---Buying

E---Purchases

E---Management

E---Taxation
 “All changes occur due to technological advancement.”
 Fast face of technology.
 Rapid Globalization.
 Access of technology by the Org/Co to reach global market/customer.
 Use of technology by customer to reach global markets.
 Fierce/strong competition among Co/Org to achieve their Organizational goals.
 More and growing concerns regarding ethical and social issues in marketing.

 TOT: Transfer of technology.

 BOT-T: Built-operate and transfer technology.

 Borderless Economy: The concept of a..

“World as a global village”

 5 Competing/Philosophies of Marketing:-
  The Production Concept:- Consumer will favour those P/S/I in the market which are
radily available in market in abundance(in bulk, large quantity).

 Favour(give preference over competetors) *Radily(Everywhere)

The production concept is also known as mass production concept :

P Q Concept.

 Example:- The local mobile handset producing organizations produce them at a lower
cost than the branded companies. Thus, consumers in these countries would buy the
handsets produced locally rather than the branded ones.

 The Product Concept:-Consumer will favour those P/S/I in the market in which
consumers are given different choices among different P/S/I in the market.

 Different Choices (Different features , colours , desgines , scheme, style , composition ,

ingredients , models , shapes.)

 Example:- Two organizations which stand separate from the crowd when we discuss
the product concept are Apple and Google. Both of these organizations have strived hard
on their products and offer rich, ground-breaking as well as different application products
and individuals are passionate about these brands.

This concept is also known as high product and low quality.

 The Selling concept:- Consumer will favour those P/S/I in the market in which consumers
are informed about the difference among different P/S/I in the market and the benefits of P/S/I
comes after using the P/S/I.

Example: This concept lives up to expectations under poor suppositions that if consumers are
coaxed into purchasing a product then they will fundamentally like it. Regardless of the fact that
they dislike it, they’ll overlook their displeasure over a period of time and purchase the product
later on.

 Coaxed: Gently and persistently persuade (someone) to do something.

 The Marketing Concept:-Consumer will favour those P/S/I in the market in

which benefits attached with the P/S/I are highlighted first .

 In selling features comes first and benefits comes later.

 In marketing benefits comes first and features comes later.

Example: The Head and Shoulders shampoo initially arrived in a standard

formula and pack. In any case, with the progression of time the organization
understood the needs of the shoppers and adjusted their item and brought in a
variety in their cleanser line.

 The Social-Marketing Concept:-Consumer will favour those P/S/I in the

market in which organization/company invest in social cause for the betterment of
society.
 Example: The Body Shop International PLC is the first, common and moral excellence
brand. The organization utilizes just plant based materials for its products. It is against
Animal testing, backs group exchange; actuate Self Esteem, Defend Human Rights and
general security of the planet. They have likewise their own philanthropy, The Body
Shop Foundation, to support those attempting to accomplish advance in the ranges of
human and social equality, ecological and animal security.

 Area of social cause:-(Health, education, community work)

 Difference between Islamic and commercial banking?

Islamic banks earn their money by profit and loss sharing, trading, leasing, charging fees for services
rendered, and using other sharia contracts of exchange. A commercial bank is a type of financial
institution that accepts deposits, offers checking account services, makes various loans, and
offers basic financial products like certificates of deposit (CDs) and savings accounts to
individuals and small businesses.

 Cost-Value Relationship:-

Relationship marketing is a method of building a customer’s trust and loyalty with a brand,
resulting in ongoing sales that increase their lifetime value.
 Cost: Cost is the amount of inputs incurred in producing a product .
 Value: Value is what goods or services pay you.

Cost=Seller
Value = Buyer

Worth of a P/S/I

Benefits/Bundle of benefits attached with the P/S/I.

C≅V (Price Ok)

C≅V (Good deal)

C≅V (Expensive)

 Example:
This is a great example of relationship marketing as Lay’s gave its customers massive creative
control of its product. This created a deep feeling of ownership among buyers, which resulted in
deep loyalty to the brand. Not only did buyers choose Lay’s because of the flavor, but they also
chose it because of the investment the brand put in them as consumers.

2nd Example:-
P1 = 1000Rs (1yr guarantee)

P2 =700—800Rs

P3 = 1000Rs (Buy 1 get 1 free)

Perceived Value=PV

(Before Using P/S/I)

Actual Value=AV

(After Using P/S/I)

PV ≅ AV

Satisfied Customer HSC Highly Satisfied Customer

SC Satisfied Customer
SC
HSC LSC LSC Least Satisfied Customer

1. PV ≅ AV ( HSC)
2. PV ≅AV (Satisfied Customer)
3. PV ≅AV (Least Satisfied Customer)

PV≅AV
HDC Highly dissatisfied
Dissatisfied Customer Customer
DC Dissatisfied Customer
DC LDC LDC Least Dissatisfied Customer
HDC

1. PV ≅ AV (HDC)
2. PV ≅ AV (DC)\

3. PV ≅ AV (LDC)
  Five level of Purchases?

1. Problem/Need Recognition

2. Information Search

3. Evaluation of Alternatives

4. Purchase Decision

5. Post-Purchase Behavior

 Loyal Customer:-
A customer who is highly satisfied , repeatedly with the company/organization/brand/PSI over
again and again.
“Customers exhibit customer loyalty when they consistently purchase a certain product or
brand over an extended period of time.”

 Difference between Guarantee and warranty?

 Warranty is the replacement of the effected and damaged part.
 Guarantee is the replacement of the whole unit.

 Desgining of Marketing strategy:-

Effective marketing starts with a considered, well-informed marketing strategy. A good
marketing strategy helps you define your vision, mission and business goals, and outlines the
steps you need to take to achieve these goals.
 Vision:-Where the Org/Co ought(Wish,desire) to reach in the future.
 Mission:-The driving force for an Org/Co the steps action plan , to achieve a target.
 Mission Statement:-Ashort sentence/a short line that describes the mission of an
Org/Co.
Example:-
 Savon:- Lowest price leader in the U.S retail market. (they focus on
price not on quality)
 FUUAST:-Quality Education at affordable price.( They focus on both
quality and price)
  Nestle:-No compromise on quality. (Just focused on quality not on
price)

 Setting Objectives and goals:-

Achievement of your objectives leads toward your goals.
 Objectives:-The action plan/steps toward achieving a goal.
 Identify your goals:- Effective marketing starts with a considered, well-informed
marketing strategy. A good marketing strategy helps you define your vision, mission and
business goals, and outlines the steps you need to take to achieve these goals.
 increasing awareness of your products and services
 selling more products from a certain supplier
 reaching a new customer segment.
 . A simple criteria for goal-setting is the SMART method:
 Specific - state clearly what you want to achieve
 Measurable - set tangible measures so you can measure your results
 Achievable - set objectives that are within your capacity and budget
 Relevant - set objectives that will help you improve particular aspects of your business
 Time-bound - set objectives you can achieve within the time you need them

 Differentiate between advantage and competitive advantage:-

 Advantage:- Your Org/Co/Institute strength.
 Competitive Advantage:- A competitive advantage is
an advantage over competitors gained by offering consumers greater value, either by
means of lower prices or by providing greater benefits and service that justifies higher
prices.

 Differentiate between Goals and objective:-

Goal is a description of a destination, and an objective is a measure of the progress that is needed to
get to the destination. In this context, goals are the long term outcomes you (or the organisation) want/
need to achieve.

 Definition of Business Portfolio:-

A business portfolio is a company's set of investments, holdings,
products, businesses and brands. A product portfolio is the product's mix of market
segments. Marketing managers attempt to make a product appeal to specific groups of
people, called segments.
 Analysis of the market/tool OR SWOT analysis:-
1. Internal SWOT---Within the Org/Co
2. External SWOT---Without the Org/Co

Direct Indirect
Competitors Competitors

 S-----Strength----Advantage/Edge
 W---Weakness-----Shortcoming
 O---Opportunities----Gap between demand and supply D—S
 T---Threats------Repeatition of your weakness
A study undertaken by an organization to identify its internal strengths
and weaknesses, as well as its external opportunities and threats.
1. Strengths and weaknesses are internal to your company—things that you
have some control over and can change. Examples include who is on your
team, your patents and intellectual property, and your location.
2. Opportunities and threats are external—things that are going on outside your
company, in the larger market. You can take advantage of opportunities and
protect against threats, but you can’t change them. Examples include
competitors, prices of raw materials, and customer shopping trends.