Principles of

Marketing.1

HIMADRI ROY CHAUDHURI

XLRI, JAMSHEDPUR
Essence of the Session Plan 1-2
Introduction to Marketing
- Philosophy

- Practice

- Evolution

- Principles of [Marketing] Strategic intent

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 So
what is marketing?

Marketing is 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.

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 Consumer Markets

The
Decisions Business Markets

Marketers
Make Global Markets

Nonprofit and Governmental Markets

 Marketing System-I
The Economic View

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 MARKETING SYSTEM-II

THE ANTHROPOMORPHIC VIEW –

[OPTIONAL]

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 Love and
Love and respect your customers.
respect

The Marketing Create Create a community of consumers.

Mantra
Rethink Rethink the marketing mix.

Celebrate Celebrate common sense.

Be Be true to the brand.

EVOLUTION OF MARKETING
Marketing’s Role
in the Firm

- McKinsey Framework

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 Needs

Wants

Demands

Core Marketing Concepts

.
 Value Proposition

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Elements of

Value
Marketing Myopia

What to expect from the market?

How to respond?

What is market-based business definition?

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 MARKETING PRINCIPLES-I

Principle 1: Selectivity and

Concentration

Principle 2: Customer Value

Principle 3: Differential Advantage

Principle 4: Integration

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MARKETING PRINCIPLES-II
 Popular tools of marketing

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Popular tools of marketing
Holistic Marketing Dimensions