VARANASI, U.P.

MARKETING MANAGEMENT

Presented To Presented By
Prem Narayan Trivedi
Dr.Raj Kiran Prabhakar MPMIR, Sem.- III
Dr.Ashutosh Mohan Roll Number - 24
Introduction to Marketing
.

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Contents
• Value and Scope of marketing what is marketing?
• What is marketed?
• Core concepts: Needs, Wants, Demand
• Company Orientation towards the Market Place
• Jerome McCarthy’s 4 Ps (Marketing Mix), 7Ps ,
• 4Cs Of Marketing,
• 4 A’s
• Marketing Myopia

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Marketing: What is Marketing ?
Marketing is the activity that consists of
exchange of goods and services
by
a firm
to the market where
customers
purchase those goods & services
to satisfy their needs and wants.

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Definition(s)
• The activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large
- American Marketing Association

• the management process responsible for identifying, anticipating and

satisfying customer requirements profitably
- Chartered Institute of Marketing

• Satisfying needs and wants through an exchange process

- Phillip Kotler
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 Marketing is a societal process by which
individuals and groups obtain what they need and want through
creating, offering and freely exchanging products and services of value with
others

Marketing Management
is
the art and science of
choosing target markets and getting, keeping and growing customers
through
creating, delivering and communicating superior customer value
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 “Marketing can thus be defined as
the process of ascertaining consumer needs,
converting them into a product or service
and then moving the product or service
to the final consumer or user
to satisfy such needs and wants of
specific customer segments with
emphasis on profitability ensuring
the optimum use of
the resources available to the organization”
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Scope of Marketing : What can be Marketed?

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• Goods
• Services
• Events
• Experiences
• People
• Places
• Properties
• Organization
• Information
• Ideas 9
Needs
• Necessity
• Basic Human Requirements
• There are 2 types of human needs
• Physiological Needs / Innate Needs (Primary Needs)
• Psychological Needs /Acquired Needs (Secondary Needs)

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• Physiological Needs / Innate Needs (Primary Needs)
• Needed to sustain biological life and biogenic needs
• need for food, water, clothing, shelter and sex.
• All humans are similar in theses needs

• Psychological Needs /Acquired Needs (Secondary Needs)

• We learn in response to our culture and environment
• needs such as self-esteem, prestige, affection, power and
learning
• All humans are dis-similar in these needs

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• Needs are essence of marketing concept
• Every individual has needs
• Needs can not be created by the marketer
• The marketer can only make the consumer aware of the needs
(latent or dormant need)
• The same needs are manifested into wants differently.
• Marketer can formulate strategies that can help trigger needs

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Types of Needs
• Stated Needs
• Real Needs
• Unstated Needs
• Delight Needs
• Secret Needs

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Wants
• wish for ()
• have a desire to possess
• manifestation of consumer need
• Needs become wants when directed to specific objects that might
satisfy the need

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Demand
• Demand is an economic principle referring to a consumer's desire to
purchase goods and services and willingness to pay a price for a
specific good or service

• Wants for specific products backed by an ability to pay

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Types of Demand
• Negative demand,
• No / Non existent demand,
• Latent demand,
• Falling/ Declining demand,
• Irregular demand,
• Full demand,
• Overfull demand and
• Unwholesome demand.

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Company Orientation towards the Market Place
• What is the Company’s Philosophy?
• Production?
• Product?
• Selling?
• Marketing?
• Holistic?

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Jerome McCarthy’s 4 Ps (Marketing Mix)
• Proposed in 1960 in Basic Marketing: A Managerial
Approach

• McCarthy defined the 4Ps conceptual framework for

marketing decision-making in Marketing Mix
• Product,
• Price,
• Place &
• Promotion
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 MARKETING MIX
Product Price Place Promotion

• Variety • List Price • Channels • Advertising

• Quality • Discounts • Coverage • Sales
• Design • Allowance • Location Promotion
• Features • Payment • Transport • Sales Force
• Packaging Period • Inventory • PR
• Size • Credit Terms • Assortments • Direct
• Service Marketing
• Warranties
• Brand

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Extended P’s
• People
• Process
• Physical Evidence

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7 P’s of Marketing
• Traditional Marketing Mix
• Elements an organization controls that can be used to satisfy or
communicate with customers:
• Product
• Price
• Place 4 P’s
• Promotion
•Expanded Mix for Services
• People
The 7 Ps
• Physical Evidence
• Process
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4Cs of Marketing
• In 1990, Robert Lauterborn proposed an alternative to the 4Ps
Marketing Mix, known as the 4Cs of marketing, which was meant to
be a more consumer-orientated version 
• Consumer
• Cost
• Convenience
• Communication

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4 A’s of Marketing
• Proposed by Jagdish Sheth and Rajendra Sisodia
• Acceptability
• Affordability
• Accessibility
• Awareness

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 Marketing Myopia
• First expressed in an article by Theodore Levitt in HBR

• short-sighted

• inward looking approach to marketing - focuses on fulfillment of immediate

needs of the company rather than focusing on marketing from consumers'
point of view

• company has a narrow-minded marketing approach 

• focuses mainly on only one aspect out of many possible marketing attributes
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THANKYO
U

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