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Lecture 1-Introduction To Marketing

This document provides an overview of marketing management. It discusses the importance and evolution of marketing, defining marketing as creating and delivering value for customers. It outlines core marketing concepts like segmentation, products/offerings, and exchange. It describes the changing role of marketing over time and different company orientations. It emphasizes the marketing concept of long-run customer satisfaction through a total company effort. Key topics covered include the 4 P's, relationships and value delivery, and factors in effective marketing practice and strategic planning.

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Maithili Joshi
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103 views20 pages

Lecture 1-Introduction To Marketing

This document provides an overview of marketing management. It discusses the importance and evolution of marketing, defining marketing as creating and delivering value for customers. It outlines core marketing concepts like segmentation, products/offerings, and exchange. It describes the changing role of marketing over time and different company orientations. It emphasizes the marketing concept of long-run customer satisfaction through a total company effort. Key topics covered include the 4 P's, relationships and value delivery, and factors in effective marketing practice and strategic planning.

Uploaded by

Maithili Joshi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Marketing Management-I

Lecture 1
Evaluation

Case/quizzes
Assignments
Project
End and Mid Term Exams
Learning Objectives
Importance of Marketing

Evolution of Marketing concept

Changing role of Marketing


What is Marketing?

Marketing is an organizational function and a


set of processes for creating, capturing,
communicating, and delivering value to
customers and for managing customer
relationships in ways that benefit the
organization and its stakeholders.
What is Marketing?
Core Concepts of Marketing

Target
Target Markets
Markets &
& Segmentation
Segmentation
Needs, Wants, and Demands
Product
Product or
or Offering
Offering
Value
Value and
and Satisfaction
Satisfaction
Exchange
Exchange && Transactions
Transactions
Relationships
Relationships &
& Networks
Networks
Marketing
Marketing Channels
Channels
Supply
Supply Chain
Chain
Competition
Competition
Marketing
Marketing Environment
Environment
Who Performs Marketing Functions?

Producers Wholesalers Other


Specialists

Transport
Firms Retailers
Ad Agencies
ISP's

Product
Testing Research
Firms Firms Consumers
Marketing Concept
Mass produced products- Drucker (1955)
Doing business in the interest of customer- McKitterick (1957)
Marketing Myopia – Levitt (1960)
Integrated marketing aimed at generating long-run customer
satisfaction- Kotler (1972)
Identifying and satisfying customer needs- Davidson (1987)
Positioning the product amidst competition- Ries and Trout
(1981, 1986)
Three pillars of marketing comprising of customer focus,
coordinated effort and profitability- Kohli and Jaworski (1990)
Marketing’s Role Has Changed Over Time

Focus:
Focus:
Simple
Simple Trade
Trade Era
Era Sell
Sell Surplus
Surplus

Focus:
Focus:
Production
Production Era
Era Increase
Increase Supply
Supply

Focus:
Focus:
Sales
Sales Era
Era Beat
Beat Competition
Competition

Marketing
Marketing Department
Department Focus:
Focus:
Era
Era Coordinate
Coordinate and
and Control
Control

Focus:
Focus: Long-Run
Long-Run
Marketing
Marketing Company
Company Era
Era Customer
Customer Satisfaction
Satisfaction
Company Orientations Towards the
Marketplace

Consumers prefer products that are


Production
Production Concept
Concept widely available and inexpensive

Consumers favor products that


Product
Product Concept
Concept offer the most quality, performance,
or innovative features

Consumers will buy products only if


Selling
Selling Concept
Concept the company aggressively
promotes/sells these products

Focuses on needs/ wants of target


Marketing
Marketing Concept
Concept markets & delivering value
better than competitors
Putting It All Together

Total
Total Company
Company
Effort
Effort to
to Satisfy
Satisfy
Customers
Customers
Build
Build Profitable
Profitable Offer
Offer Superior
Superior
Customer
Customer Customer
Customer Value
Value
Relationships
Relationships

Increase
Increase Sales
Sales to
to Attract
Attract
Customers
Customers Customers
Customers

Satisfy
Satisfy
Retain
Retain Customers
Customers Customers
Customers
The Four P’s
4 Holistic Marketing Dimensions
The New Four Ps

People

Processes

Programs

Performance
Recent trends in Marketing

Globalization

Increased importance of service

Information technology

Relationships across functions and firms


Effective Marketing Practice
A good strategic marketing plan should focus on
the 4Cs:
The company’s internal resources, capabilities,
and strategies
The environmental context in which the firm
will compete
The needs, wants, and characteristics of
current and potential customers
The relative strengths and weaknesses of
competitors and trends in the competitive
environment.

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