PRESENTED BY-

DILNOOR KAUR
AULAKH
BCOM4C
2019010151
MARKETING PROCESS
 The marketing process consists of four
elements: strategic marketing analysis,
marketing-mix planning, marketing
implementation, and marketing control.
 The aim of marketing in profit-oriented
organizations is to meet needs profitably.
Companies must therefore first define which
needs—and whose needs—they can satisfy.
MARKETING STEPS-
 DEFINITION
 Scandinavian Edition (2nd Ed.) defines the marketing process
as: “The process by which companies create value for
customers and build strong customer relationships in order to
capture value from customers in return.”
 STEPS-
Understand the customer needs
 Develop a basic strategy
 Make a decision
 Execute a plan
 Deliver the results
 1 UNDERSTANDING
CUSTOMER NEEDS
Understanding is the key to a
successful business. To
understand the needs of the
customer, you must have an
insight into a few things. You
should:
•Understand the local area
•Understand the country you
are targeting EXAMPLE
•Know the interest of your If we look into the business of Volkswagen Group,
customers  we come to know that they sell cars at different
•Know how much they can prices. Not all cars are of the same prices. Their
spend on that products like VW, Seat, Porsche, Audi, etc all
have different prices, obviously, as they differ in
their functionality or specifications. 
Audi is high priced whereas Seat is the lowest
priced. It is not necessary for the brand to sell all
the products in the same price range. In this
case, the brand will have to suffer as only a
certain class of people will buy the product. 
 2 DEVELOPING STRATEGY
  In order to start a
business, you must
know:
 What is trending in
your area?
 What they really want
to buy?
 Who is your targeted
customer? 
 What is the level of
need for that product? 
 3 DECISION MAKING
 Once you know who you are targeting,
now you can make a marketing plan.
At this point, you have to make a
decision by drafting:
 Budget
 Product specifications
 Product development (in future)
 Ways and mediums for promoting your
product 
 The expected date for launching the
product
 When you draft everything, now you
exactly know what you have to do.
This is important because elaborated
tactical decisions are made for the
controllable parameters of the
marketing mix. As a result, this will
give you a clear view of what you
want to develop. 
4 EXECUTING A PLAN
 Execute your plan now. You have a draft
of your plan, now work on it. To execute
the best plan focus on three things:
 Sharpen your interest
 Create your competence
 Light up your passion
 However, you need to keep your plans
simple and easy to execute. Identify what
you are doing and focus on bringing the
best out of it. Execution literally depends
upon the process of development. Trust
your talents, be confident about what you
want to develop.
 5 RESULT DELIVERING
 Your product is ready to be launched.
Now you can successfully deliver it in
the market and wait for the feedback.
Do not expect to have 100% positive
reviews about your product. Let the
critics tell you what you are lacking.
Also, let yourself get excited by the
positive reviews. 
 Once you deliver the results in the
market you should be prepared for
every type of response. But do not get
disheartened by the negative reviews,
they can also help you improve your
product in the future.
 NEW PRODUCT DEVELOPMENT
 “By new product we mean original
products, product improvements,
product modification and new brands
that the firm develops through its own
research and development efforts”.
 a new product will be considered
anything which is perceived as such by
the consumer or with which the firm
has no previous experience. It means
that a consumer views a product as
new if any new thing is experienced or
any additional variants are provided
with the existing product.
NEED FOR NEW PRODUCT
DEVELOPMENT
 A. Creating New Avenues B Giving Choice to Consumers for
Selection:
for Growth:
 The market is always evolving itself and
The consumer needs and
newer consumer needs and demands are demands keep changing and
created. To take care of such situations,
organizations must come out with new
upgrading/downgrading and
products that will create new avenues organizations should create
for the growth of organizations.
Organizations that are slow in creating products in both upward and
new avenues fall behind others in downward changes.
business.
 EXAMPLE
 Godrej, the only organization C  Cater to New Tastes of Consumers:
manufacturing refrigerators in India Consumers keep changing their
(GEC, the other brand used to be
imported), did not come out with smaller expectations and the organization needs
refrigerators to take care of the middle to give them newer products to take
class willing to buy them and lost
business first to Kelvinator/Leonard/Gem care of new needs. E.g. Introduction of
(all manufactured by Kelvinator but dish washers and food processors in
marketed by self/Blue Star/Voltas) and
then to Hyderabad Alwyn and now India by most of the electronics
Whirlpool/LG etc.
companies.
 PROCESS

New product development is

the process of bringing an
original product idea to market.
Although it differs by industry, it
can essentially be broken down
into five stages: ideation, research,
planning, prototyping, sourcing,
and costing