MARKETING

MANAGEMENT
DEFINING MARKETING FOR NEW
REALITIES
By: Ms. Aqsa Cheema
 THE VALUE OF MARKETING

• Financial success often depends on marketing ability

• Successful marketing builds demand for products and services, which, in

turn, create jobs.

• Marketing builds strong brands and a loyal customer base, an intangible

asset that contributes heavily to the value of a firm.
 SCOPE OF MARKETING

• MARKETING is about identifying and meeting human and social needs.

• 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.
 MARKETING MANAGEMENT
• Marketing Management is the art and science of choosing target markets
and getting, keeping, and growing customers through creativity, delivering,
and communicating superior customer value.

• It is the way to find out opportunities which are profitable and create these
opportunities by satisfying the customers.

• Marketing Management is consumer-oriented. Therefore, those services have

to be provided that satisfy the consumers by meeting their needs and
expectations.

• Plus Delta can be developed to have a clear view of lacking areas.

 Cont…
• MARKETING MANAGEMENT is a process of:
o controlling the marketing aspects,
o setting the goals of a company,
o organizing the plans step by step,
o taking decisions for the firm/company/ organization,
o and executing them to get maximum turn over by meeting the consumers’
demands.
• Marketing Management focuses on basic P’s of Marketing i.e.: Product,
Place, Price, Promotion, Physical Evidence, People, Processes
WHAT IS MARKETED?
1. Goods
2. Services
3. Events
4. Experiences
5. Persons/ People
6. Places
7. Properties
8. Organizations
9. Information
10.Ideas
 WHO MARKETS?
• A MARKETER is someone who seeks a response –
attention
a purchase
a vote
a donation –
From another part. This response is called the Prospect.
• If 2 parties are seeking to sell something to each other, we call them both
Marketers.
 CORE MARKETING CONCEPTS

• Needs, Wants and Demands

• Target Markets
• Positioning
• Segmentation
 NEEDS & ITS TYPES
• Need: Basic requirement i.e.: Air, Food, water, shelter, clothing
TYPES:
• Stated Needs: The customer requires an inexpensive car
• Real Needs: The customer requires a car whose operating cost, not initial price, is
low.
• Unstated Needs: The customer expects good service from car dealer
• Delight Needs: The customer would like the dealer to include onboard GPS
System.
• Secret Needs: The customer wants friends to see him as a savvy consumer. (a
person having good knowledge & ability to make decisions)
 DEMAND & ITS STATES
• Demand is a consumer's desire to buy goods and services without any hesitation
and to pay the price for it. Or The number of goods that the customers are ready
and willing to buy at several prices during a given time frame is called Demand.
• There are 8 states of Demand:
• Negative – Dislike product & pay to avoid it
• Nonexistent – Not aware / interested in product
• Latent – Need not satisfied by existing product
• Declining – Buy less often or none
• Irregular – Purchase vary on periodic basis (seasonal demands)
• Unwholesome – Adequately buy all products in Markets
• Full – More want product that can be satisfied
• Overfull – Attracted to products – undesirable social consequences
 TARGET MARKET, POSITIONING &
SEGMENTATION
• TARGET MARKET: A target market, is a group of customers within a
business available market, at which a business aims its marketing efforts
and resources and they are most likely to buy a company's products or
services.
 Cont…
• POSITIONING:
Positioning defines where your product (item or service) stands in relation to others
offering similar products and services in the marketplace as well as the mind of the
consumer.
Positioning ensures that marketing messages help you clearly stand out,
resonate with target consumers and compel them to take action. If you're not
standing out, you're not positioning.
i.e.: creating your image in customer's brains.
• SEGMENTATION:
Market segmentation is the process of dividing a broad consumer or
business market, normally consisting of existing and potential customers,
into sub-groups of consumers based on some type of shared characteristics.
v
 VALUE PROPOSITION, OFFERINGS &
BRANDS
• VALUE PROPOSITION:
A set of benefits that satisfy the needs
• OFFERINGS:
A value proposition is made physical by an offering which is a combination of
products, services, information and experiences
• BRANDS:
An offering from a known source. E.g.: MacDonald's, KFC, Breakout, Limelight
Cont…

• Paid Media:

• Owned Media:

• Earned Media:
• An impression (also known as a view-through) is when a user sees an
advertisement. In practice, an impression occurs any time a user opens an app or
website and an advertisement is visible.
• A customer engagement strategy is a plan for creating an ongoing positive
experience that keeps customers coming back to your product or service.
Combination of quality , service and Price.
 COMPETITION

• Competition is a rivalry where two or more parties strive for a common

goal which cannot be shared: where one's gain is the other's loss.
• All the actual & potential rival offerings and substitutes a buyer might
consider.
MARKETING ENVIRONMENT
 THE NEW MARKETING REALITIES

• Technology
 CONT…

• Globalization
Globalization in marketing is defined as the process of promoting products
and services to global markets.
• Social Responsibility
Social responsibility in marketing involves focusing efforts on attracting
consumers who want to make a positive difference with their purchases.
 A DRAMATICALLY CHANGED
MARKETPLACE

• New Consumer Capabilities

Can use the internet as a powerful information and purchasing aid
Can search, communicate, and purchase on the move
Can tap into social media to share opinions and express loyalty
Can actively interact with companies
Can reject marketing they find inappropriate
 CONT…
New Company Capabilities
 CONT…
• Changing Channels
A marketing channel is the people, organizations and activities that make goods and services
available for use by consumers. It transfers the ownership of goods from the point of production
to the point of consumption.
Companies modify the supply chain structure for strategic business alliance purposes, to cut costs
and to streamline product delivery.

• Heightened Competition
More competition means greater choice and more services
Private & Mega Brands,
Deregulation (Deregulation means the removal of legal barriers and restrictions on three main
things; the price a company can charge, the range of product or services it is allowed to offer, and
the geographic scope within which it is allowed to operate.)
Privatization (The process in which a publicly-traded company is taken over by a few
people is also called privatization. The stock of the company is no longer traded in the stock
market.)
 MARKETING IN PRACTICE
• Marketing Balance
It sets the course for your marketing efforts. It helps make a business
successful. It defines the steps you need to take to make a profit.
• Marketing Accountability
It refers to the use of metrics to link a firm's marketing actions to financially
relevant outcomes and growth over time.
• Marketing In the organization – How its carried in the organization