This document discusses the importance and nature of marketing. It provides that marketing has two core functions - to create customers and drive innovation. Marketing is the process of exchanging ownership of goods and directing business activities to move products from producers to consumers. The document also outlines the three levels of marketing - as an overall business philosophy, strategic planning, and day-to-day operations. Finally, it notes the broad scope of items that can be marketed, including both tangible goods and intangible concepts.
This document discusses the importance and nature of marketing. It provides that marketing has two core functions - to create customers and drive innovation. Marketing is the process of exchanging ownership of goods and directing business activities to move products from producers to consumers. The document also outlines the three levels of marketing - as an overall business philosophy, strategic planning, and day-to-day operations. Finally, it notes the broad scope of items that can be marketed, including both tangible goods and intangible concepts.
This document discusses the importance and nature of marketing. It provides that marketing has two core functions - to create customers and drive innovation. Marketing is the process of exchanging ownership of goods and directing business activities to move products from producers to consumers. The document also outlines the three levels of marketing - as an overall business philosophy, strategic planning, and day-to-day operations. Finally, it notes the broad scope of items that can be marketed, including both tangible goods and intangible concepts.
This document discusses the importance and nature of marketing. It provides that marketing has two core functions - to create customers and drive innovation. Marketing is the process of exchanging ownership of goods and directing business activities to move products from producers to consumers. The document also outlines the three levels of marketing - as an overall business philosophy, strategic planning, and day-to-day operations. Finally, it notes the broad scope of items that can be marketed, including both tangible goods and intangible concepts.
IMBA Semester VI – Marketing Management Prof. Subhasish Mitra www.atmiya.net The Importance of Marketing • Be ause the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. • Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business. IMBA Semester VI – Marketing Management Prof. Subhasish Mitra www.atmiya.net Nature of Marketing • It is an economic function of exchange. • It is a legal process by which ownership is transferred. • It is a system of interacting business activities. • It is a managerial function of organizing and directing business activities that facilitates the movement of goods from producers to consumers.
IMBA Semester VI – Marketing Management Prof. Subhasish Mitra www.atmiya.net Nature of Marketing • It is a philosophy based on consumer orientation and satisfaction . • It has dual objectives – profit making & consumer satisfaction . • It is a social process by which the society gets goods and services for the satisfaction of needs.
IMBA Semester VI – Marketing Management Prof. Subhasish Mitra www.atmiya.net Marketing – The Three Levels • Top level of Marketing • Marketing as a business philosophy. • Marketing is everything. • Process by which a company decides what it will sell, to whom, when & how and then does it!
IMBA Semester VI – Marketing Management Prof. Subhasish Mitra www.atmiya.net Marketing – The Three Levels • Second level of Marketing; . • Marketing as Strategy • Understanding business environment; laws, customers, competitors, regulations, etc. • Planning marketing strategy to make the business a success.
IMBA Semester VI – Marketing Management Prof. Subhasish Mitra www.atmiya.net Marketing – The Three Levels • The third level of marketing is about the day to day operational running of marketing • Spans all aspects of a business and across all customer contact points. • A o pa y’s we site; • How a business delivers its • How they answer the phones; services; • Their marketing and PR • How a usi ess a ages its campaigns; clients • Their sales process; • How a business solicits feedback • How customer contact staff from its clients. present themselves IMBA Semester VI – Marketing Management Prof. Subhasish Mitra www.atmiya.net Scope of Marketing • Goods • Places • Services • Properties • Experience • Organizations • Events • Information • Persons • Ideas
IMBA Semester VI – Marketing Management Prof. Subhasish Mitra www.atmiya.net
