Marketing Management

Introduction
 Good marketing is no accident but result of careful planning and
execution. some people think marketing as Sales or advertising but
marketing is very broader area its start before production and also
works after sales.
 American Marketing Association: Marketing is organizational
function and a set of processes for creating communication and
delivering value to customers and for managing customer
relationships in ways that benefit the organization and its
stakeholders’’

 What is Marketed. 1 Goods 2 Services 3 Events 4 Experiences e.g.

Water park, Hotels, 5 Person 6 Places 7 Properties 8 Organizations 9
Information e.g. information can be marketed as product like report
of health checkups 10 Idea
 Marketer and Prospect Relationship in marketing……
 Levels of Needs
A… Needs ; Comes from unsatisfaction ; to remove this unsatisfaction we
need various things (needs preexists marketer can’t influence needs but to
wants.
B… Wants : Need become want when they are directed to specific objects.
hunger in need but burger is want.
C… Demand; 1 desire 2 ready to Buy 3 ability to pay mix of these three
makes Demand for product.

1.Stated need : clearly said and expressed by customer.

2.Real need : stated need may be different from real need marketer has to find out
real and actual need.
3.Un stated needs. Expectations but not expressed by customers.
4.Delight needs. These are not essential but would make delight to customers.
5. Secrete needs. Like want to become savvy customers.
 Types of Demand
 Negative Demand; when customer dislike the product and even
that pay a price to avoid it. E.g. like people like to avoid heart attacks
even that they pay for full body checkups. positive promotion is required
 No Demand; when people are unaware and uninterested in
product. e.g. family planning's. language courses .
 Full Demand ; 100% products are sold in market ,
 Overfull Demand ; demand is more than supply of products
.either we can increase the price or reduce promotion exp..
 Latent Demand; strong demand for new innovative products that
are not currently available in the market e.g. harmless cigrates
 Unwholesome Demand; demand for socially undesirable
products like tambacu products ,
 Customer value triad , ratio of customer perceived
benefits and cost of that product .
 Developments of Marketing
Concepts
 1. Exchange concept. Only limited to make deal done by
making contact of buyer and seller.
 2. Production concept. It holds that customer will buy the
products those are widely available and inexpensive. Stress on mass
production to reduce per unit cost and make it widely available.
 3. Product concept. Marketing approach is high quality
superior products with innovative features.
 4.Selling concept. Aggressive selling efforts by personal selling
discounts high advertisements to sell what they make rather to make
what markets wants .mostly in case of unsought goods. Insurance
capital research
 5. Marketing concept. sense and response philosophy.
Customer centered by serving best value to customers,
 Holistic Marketing
According to this concept every thing matters in marketing and that

broad perspective is required .

 The marketing mix
idea James kultun development Neil.H.Borden
4 Ps jerome McCarthy

 The marketing mix is one of the most famous marketing

terms. The marketing mix is the tactical or operational part
of a marketing plan. The marketing mix is also called the
4Ps and the 7Ps. The 4Ps are price, place, product and
promotion. The services marketing mix is also called the 7Ps
and includes the addition of process, people and physical
evidence.
 The marketing mix is . . . The set of controllable tactical marketing
tools – product, price, place, and promotion – that the firm blends
to produce the response it wants in the target market.
