Marketing Management

By
Shailesh Jadhav
Introduction
and
Meaning
of
Marketing
Definition of Marketing
 “Marketing is the performance of business
activities, that direct the flow of goods and
services from producers to consumer/user”.

 American Marketing Association defines,

“Marketing as an organizational function
and set of processes for creating,
communicating and delivering value to
customers and for managing customer
relationship in a way that benefit the
organization and it stakeholder”
 Concept of Marketing

Traditional Concept Modern Concept

Marketing
V/s
Selling
Few relevant terms of Marketing
 Market
 Marketer
 Seller
 Buyer
 Consumer
 Customer
Importance of Marketing

 To the firm / Companies

 To the Society

 To the Customer
Objectives of Marketing
 Provide satisfaction to customer
 Increase in Demand
 Provide better quality product to the

customer
 Create goodwill
 Generates profits and increase sales volume
Function performed in Marketing
 Marketing research
 Product planning and development
 Buying and Assembling
 Packaging
 Standardization and Grading
 Branding
 Pricing
 Promotion
 Distribution
 Selling
 Storage and Warehousing
 Transportation
Scope of Marketing
10type of entity, Marketing concepts can be used
effectively to market these entities.
 Good
 Services
 Experience
 Events
 Person
 Places
 Properties
 Organisation
 Information
 Ideas
Nature of Marketing
 Orientation-self centered/consumer oriented
 Marketing is Dynamic
 Long term objective
 Integrated function
 Core Function-driving force behind every

organisation
 Interlinked -with other functional area-

Production/finance/HR etc.
Core Concept of Marketing

 Needs, wants and demands;

 Products;
 Value and satisfaction;
 Exchange
 Markets.
The American Marketing Association:

Marketing (management) is the process of

planning and executing the conception,
pricing, promotion, and distribution of
ideas, goods, services to create exchanges
that satisfy individual and organizational
goals.
Definition of Product
 According to Alderon-Product is a bundle of
utilities consisting of various product features and
accompanying service.

 According to Schwarz- A Product is something a

firm markets that will satisfy a personal wants or
fill the business needs.

 Phillip Kotler-As anything that can be offered to a

marketer for attention, acquisition, use of
consumption that might satify a want or need
Brand Equity

Albar defines brand equity as a set of

assets associated with a brand and which
add to the value provided by the
product/service to its customers.