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    Marketing 2 PDF

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    Santosh Sharma
    The document defines marketing according to social, AMA, and Kotler definitions. Social definition sees marketing as a process of obtaining needs and wants through exchange. AMA defines it as planning, pricing, promotion, and distribution to create exchanges. Kotler sees it as choosing targets, attracting and retaining customers through superior value. It discusses the evolution of marketing concepts from production to marketing and highlights relationship and holistic marketing. Lastly, it outlines the key aspects of developing a marketing strategy and plan.

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    Marketing 2 PDF

    Uploaded by

    Santosh Sharma
    47 views11 pages
    The document defines marketing according to social, AMA, and Kotler definitions. Social definition sees marketing as a process of obtaining needs and wants through exchange. AMA defines it as planning, pricing, promotion, and distribution to create exchanges. Kotler sees it as choosing targets, attracting and retaining customers through superior value. It discusses the evolution of marketing concepts from production to marketing and highlights relationship and holistic marketing. Lastly, it outlines the key aspects of developing a marketing strategy and plan.

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    The document defines marketing according to social, AMA, and Kotler definitions. Social definition sees marketing as a process of obtaining needs and wants through exchange. AMA defines it as planning, pricing, promotion, and distribution to create exchanges. Kotler sees it as choosing targets, attracting and retaining customers through superior value. It discusses the evolution of marketing concepts from production to marketing and highlights relationship and holistic marketing. Lastly, it outlines the key aspects of developing a marketing strategy and plan.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    47 views11 pages

    Marketing 2 PDF

    Uploaded by

    Santosh Sharma
    The document defines marketing according to social, AMA, and Kotler definitions. Social definition sees marketing as a process of obtaining needs and wants through exchange. AMA defines it as planning, pricing, promotion, and distribution to create exchanges. Kotler sees it as choosing targets, attracting and retaining customers through superior value. It discusses the evolution of marketing concepts from production to marketing and highlights relationship and holistic marketing. Lastly, it outlines the key aspects of developing a marketing strategy and plan.

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    © All Rights Reserved
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    Download as pdf or txt
    of 11

    CHAPTER 1 :

    DEFINING MARKETING FOR THE 21st CENTURY

    Nataraj Pangal | Shreya Rana


    Social 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.
    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

    SERVICES
    EXPERIENCES EVENTS
    PERSONS
    PROPERTIES
    INFORMATION

    ORGANIZATIONS
    IDEAS
    • Dental Work
    Negative Demand • Vaccination

    • Foreign Language Courses


    No Demand

    • Harmless Cigarettes
    Latent Demand • Fuel-Efficient Cars

    • Churches
    Declining Demand

    • Hotels
    Irregular Demand • Mass-Transit

    • Changing Preference
    Full Demand • Increasing Competition

    • Demarketing
    Overfull Demand

    • Cigarettes
    Unwholesome Demand • Alcohol
    Marketplace Marketspace Metamarket

    Cluster of
    Physical Digital complementary
    products

    Spread across a
    Store Internet diverse set of
    industries

    Automobile

    www.marutitru
    evalue.com
    Needs, Wants and Demands
    • Needs – Basic Human Requirements
    • 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
    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

    • 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
    Marketing Other Depts Communications Channels
    Dept

    Internal Integrated
    Marketing Marketing

    Holistic
    Marketing
    Concept

    Performance Relationship
    Marketing Marketing
    Commodity
    Legal
    Environment
    Sales Revenue Ethics Customers Partners
    Brand & Customer Channel
    Equity
    Developing Marketing Strategies & Plan

    Capturing Marketing Insights

    Connecting with Customers

    Building strong brands

    Shaping the market offering

    Delivering Value

    Communicating Value

    Creating Long-Term Growth

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