1 Defining Marketing

for the 21st Century

 Chapter Questions

 Why is marketing important?

 What is the scope of marketing?
 What are some fundamental marketing
concepts?
 Role of marketing in IT products and
Services?
 Can everything be marketed?
 Understanding about STP?
Importance of Marketing
 What is Marketing

Marketing is about Satisfying needs and wants

through an exchange process

Meeting needs profitably

Examples:
Gourmnet bakers starts producing Gourment Cola
LGS made landmark projects/Ilm project
 Exchange process

Value to the customer & Value from the customer

(Benefits to the customer) (Profits for company)

RELATIONSHIP BUILDING
Customer Satisfaction: Product meet customer expectation

Customer Dissatisfaction: Customer is unhappy with a product or service.

Customer Delight :Customer by exceeding his or her expectations and thus creating a
positive emotional reaction. This emotional reaction leads to word of mouth.
 What is Marketing?

Marketing is an organizational function

and a set of processes for creating,
communicating, and delivering value
to customers and managing
customer relationships
in ways that benefit the
organization and its stakeholders.
 Earlier Marketing
and
Holistic Marketing
 The production concept(Product making, low cost and
mass distribution)
 The Product concept(Making quality product and
improving them over time)
 The Selling concept(Aggresive selling and promotion
efforts)
 The Marketing Concept (Customer focused, Right
product to right customer)
 Holistic Marketing(Everything matters)
 What is Marketed?

 Goods  Places and properties

 Services  Organizations
 Events and  Information
experiences  Ideas
 Persons
 Demand States

 Negative(don’t like)  Irregular(seasonal)

 Nonexistent(unawar  Unwholesome(bad
eress) demand)
 Latent(later on  Full Demand
demand)  Overfull
 Declining
 Basic types of Markets
 Consumer markets(Mass goods focusing on
brand image))
 Business markets(Buy for selling)
 Global markets(sale/purchase across the
border)
 Nonprofit/Government markets
 Class Activity
 Find out 3 IT based Companies of each type of
above stated Market and present.
 Core concept
 Need: Basic human requirements i.e, Air,
home, Water, Food.
 Want: Shaped by desire i.e. hungry-want
burger, rice, curry.
 Demand: Wants for specific product backed by
an ability to pay. i.e. wants GMC but few
people have ability to buy.
 Core concept
 Consumer(user of product)
 Customer(user/nonuser of product)
 Market Space(Online store)
 Market Place(Physical stores)
 What is Marketing Management?

Marketing management
choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.
 STP Marketing
 Segmentation: Dividing the markets into parts
/segments , who requires varying/different product
and services on the basis of demographic(age or
income), psychographics(personality, values, opinions)
and behavioral differences(male/female) etc
 Target Market: Marketer choose/decide his target
market, where he can serve best(i.e. on basis of age,
income, gender)
 Positioning: Market offering benefits that it positions
in the mind of target buyer(image of brand/product)
 STP
Segmentation, targeting, and positioning together
comprise a three stage process. 
(1) determine which kinds of customers exist,
(2) select which ones we are best off trying to
serve and,
(3) implement our segmentation by optimizing
our products/services for that segment and
communicating that we have made the choice to
distinguish ourselves that way
Marketing Mix(Integrated Marketing)

Four Ps
 Product
 Price
 Place
 Promotion
 Marketing Mix
Product Price Promotion Place

Product variety List Price Sales promotion Stores

Quality Discounts Advertising Channels

Design Allowances TVC Transport

Features Payment time Flex Location

Brand name News ads

Packaging

Size
Thank you