Marketing Management

What is MARKETING

Introduction

Marketing is Identifying and meeting HUMAN and SOCIAL needs profitably. Further it is the Process for creation of value for customers and build strong customer relationships to finally capture value from customers in return

Classic definitions of Marketing AMA Defines Marketing as THE PERFORMANCE OF BUSINESS ACTIVITY THAT DIRECTS FLOW OF GOODS & SERVICES The Marketing GURU KOTLER Defines as IT IS THE HUMAN ACTIVITY DIRECTED AT SATISFYING NEEDS AND WANTS OF PEOPLE / CUSTOMERS

Marketing Management

Introduction

What is SALES:Sales is transfer of title of goods

What is SALES MANAGEMENT Sales Management is Management of sales activities Personal selling Sales promotion and advertising Distribution and Logistics managements Packing of products for different channels Pricing and Trade discounts Collection of feedback from market for improvements in various activities

Marketing Management

Introduction

Understand the Market Place and customer needs and wants

Design a customer Driven Marketing Strategy

Construct a Marketing Program That delivers superior value

Capture value from customers To create profit & customer quality

Build profitable relationship & create customer delight

Marketing Management
Concept and Marketing Strategies
Concept Production Concept Basic Consumers buy available and highly affordable products Action

Introduction

The management should improve production and distribution i.e. higher sales and higher profits

Product concept

Consumers buy products which are better quality, performance & features

The management therefore put in efforts for continuous improvements in the products Normally OVER CAPACITY exists & this concept is used

Selling concept

Consumers buy when there is a large scale buying & promotional efforts

Marketing concept

Achieving organisational goals can be done by knowing needs & wants of target markets/customers.

It is therefore customer centered. This concept means NOT finding customers for the products BUT creating products for the

Delivering satisfaction better than

competitors Societal Concept It questions if the marketing concept overlooks possible conflicts between consumers short run wants & long term welfare

customers

Marketing Management

Introduction

What is Marketing Mix The marketers task is to devise activities and integrate these activities to deliver values to the customers. These activities are classified as marketing mix tools, commonly known as 4Ps of marketing. These are; 1. Product a. Variety b. features c. Design d. Packaging e. Service and after sales service

2. Price
a. List price b. Trade and other discounts c. Credit period

Marketing Management

Introduction

3. Place a. Locations b. Coverage of markets c. Channels of distribution d. Stocking points e. Delivery period and 4. Promotion a. Advertising b. Sales promotion c. Personal selling d. Direct marketing e. Public relations f. Customer relationship management