Social Definition

MARKETING DEFINITION
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

AMA Definition

Marketing is the process of planning and executing the

conception, pricing, promotion and distribution of ideas, goods
and services to create exchanges that satisfy individual and
organizational goals.
MARKETING DEFINITION
Kotler Definition

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.
 GOODS PLACES
WHAT IS MARKETED?

SERVICES
EXPERIENCES EVENTS
PERSONS

INFORMATION

IDEAS
 Demand States – Marketers and
Prospects
• Negative Demand – Dislike Product
• No Demand – Unaware or uninterested in the product
• Latent Demand – Strong need which cannot be satisfied by
existing products
• Declining Demand – Experiences by all organizations.
• Irregular Demand – Season demand
• Full Demand – Firms are pleased with the volume of business
• Overfull Demand – Demand higher than what can be handled
De Marketing – Reducing demand temporarily or permanent-
Can be reduced by increasing prices, or reducing promotion
and services.
• Unwholesome Demand – Products that attract organized
effort to discourage consumption
 Negative Demand • Vaccination

• Foreign Language Courses

No Demand
DEMAND STATES

• Harmless Cigarettes
Latent Demand • Fuel-Efficient Cars

• Buy product less frequently or not at all

Declining Demand

• Hotels
Irregular Demand • Mass-Transit

• Changing Preference
Full Demand • Increasing Competition

• De marketing
Overfull Demand

• Cigarettes (consumers are attracted to pdt

Unwholesome Demand that have undesirable social consequences)
• Alcohol
 No Demand
Latent Demand

Declining demand
Irregular Demand Full Demand
 Marketplace Marketspace
Meta
market
MARKETING CONCEPTS
Cluster of
complementary
Physical Digital products &
service

Spread across a
Store Internet diverse set of
industries

Automobile

www.marutitru
evalue.com
 This Amazon Go inspired store in Kerala shows future
of Indian retail

Kerala-based startup called

Nayasale Retail Pvt Ltd. is set to
launch a fully automated live
store called ‘Watasale’, which is
modelled on Amazon Go and will
make use of cutting-edge
technologies like :
artificial intelligence,
computer vision,
deep learning, and sensor fusion
to provide the customers with a
hassle-free shopping experience.
https://
https://www.indianweb2.com/2018/09/02/indias-1st-fully-automated-amazon-go-like-reta
il-store-launches-in-kochi-kerala/
 Needs, Wants and Demands
• Needs – Basic Human Requirements
MARKETING CONCEPTS
• Wants – Directed at specific objects
• Demands – Backed by ability to pay

Target Markets, Positioning & Segmentation

Offerings and Brands

• Offering – Value Proposition made Tangible
• Brand – Offering from a known source

Value & Satisfaction

• Value – Benefits / Cost
• Customer Value Triad – Quality, Service and Price
• Satisfaction – Product’s perceived performance

Marketing Channel
• Communication Channel – Deliver & Receive message
• Distribution Channel – Display, sell & Deliver
• Service Channel – Carry out transactions
Five Types of Needs in Wants: Specific objects to
Marketing fulfill our needs
COMPANY ORIENTATION The Production Concept

• Oldest Concept
• Consumers will prefer products that are widely available &
Inexpensive
• Concentrate on achieving high production efficiency, low
costs and mass distribution
• Eg: - Lenovo and Haier in China

The Product Concept

• Consumers favor products that offer most quality,

performance and innovative features.
• Make superior products and improve them over time.
• Caught in a “love-affair” with their product.
 The Selling Concept
COMPANY ORIENTATION
• Consumers, if left alone, wont buy enough of the
organization’s products.
• Must undertake an aggressive selling and promotion effort.
• Practiced most aggressively with unsought goods.
• Eg:- Insurance & Encyclopedias.
• Aim is to sell what they make rather than make what the
market wants.

The Marketing Concept

• Customer Centered instead of Product Centered.

• Not to find right customers for your products, but to find
right products for your customers.
• Eg:- Dell
• Reactive Market Orientation – Understanding and meeting
customers’ expressed needs
• Proactive Market Orientation - Understanding and meeting
customers’ latent needs
• Total Market Orientation
 Senior Mgmt Products & Services
COMPANY ORIENTATION Marketing Other Depts Communications Channels
Dept

Internal Integrated
Marketing Marketing

Holistic
Marketing
Concept

Performance Relationship
Marketing Marketing

Legal
Environment
Sales Revenue Ethics Customers Partners
Brand & Customer Channel
Equity
https://www.youtube.com/watch?v=NRELnUJKnqI
ID’s coffee decoction hopes to take
on Nestle, Bru

ID Fresh Food, which has become

quite a household name with ..

South Indians are very fussy and

particular about the taste ..
We wanted to stick with our 100%
natural tagline.
So in lieu of using additives to
extending shelf life,

Come up with a unique vacuum-

sealing technology for packs
 Developing Marketing Strategies & Plan

Capturing Marketing Insights

MARKETING TASKS

Connecting with Customers

Building strong brands

Shaping the market offering

Delivering Value

Communicating Value

Creating Long-Term Growth

https://www.youtube.com/watch?v=oS5a7efBoJE

When it comes to emotional engagement – a good indication of the long-term

impact an ad will have – Nike’s ‘Dream Further’ campaign, comes out on top with
a near perfect score of 4.6 out of five.

The biggest names in women’s football alongside the message ‘Don’t change your
dreams. Change the world’,
Marketing Mix
 Marketing Mix
• Product : variety, quality, design, features,
brand name , packaging, sizes, services,
warranties.
• Price : list price, discounts, allowances,
payment period, credit terms
• Promotion : Advertising, sales force, public
relation, direct marketing
• Place : Channels, coverage, Assortment,
Location, Inventory, transport
Trends in Marketing
 Societal marketing

1- The Body Shop follows the societal concept in being against animal testing and
in offering products that have not been animal tested.

2- Johnson and Johnson: In 1982 when someone tampered with their Tylenol
capsules causing casualties, instead of ignoring or denying the incident, or only
recalling the batch with the problem, they recalled all of the Tylenol sold at the
time and later urged customers to exchange their stock of Tylenol capsules with
tablets for free. It caused them losses but they were committed to fulfilling their
business credo.

3- HP are very committed to environmental sustainability. They try to reduce

waste from their internal operations and have launched initiatives to help reduce
and recycle electronic waste.
5- Organizations that adopt a social stance or advocate for positive social
behaviors (like inclusion, anti-discrimination, eliminating rasicm, etc…) in
their marketing communications (as in ads and press releases for
example) all follow societal marketing.
https://www.thinkwithgoogle.com/advertising-channels/video/youtube-
bumper-ads-advertising-strategy/

https://www.youtube.com/playlist?list=PLlXZh4sJtb8FeCuXyZ90OyUC
kpfzs1GtI