Scribd Logo
Upload

Welcome to Scribd!

  • 84 views

    Introduction To Marketing: Sandeep Puri Sandeep Puri

    Uploaded by

    Bhairaw Kumar
    This document provides an overview of marketing concepts including: 1) It defines marketing as identifying and meeting customer needs profitably. 2) It explains the key aspects of the marketing mix - the four P's of product, price, place, and promotion. 3) It discusses the importance of understanding customer value and satisfaction. 4) It outlines different customer markets including consumer, business, government, and nonprofit markets.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd

    Introduction To Marketing: Sandeep Puri Sandeep Puri

    Uploaded by

    Bhairaw Kumar
    84 views41 pages
    This document provides an overview of marketing concepts including: 1) It defines marketing as identifying and meeting customer needs profitably. 2) It explains the key aspects of the marketing mix - the four P's of product, price, place, and promotion. 3) It discusses the importance of understanding customer value and satisfaction. 4) It outlines different customer markets including consumer, business, government, and nonprofit markets.

    Original Title

    Session 1 2

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document provides an overview of marketing concepts including: 1) It defines marketing as identifying and meeting customer needs profitably. 2) It explains the key aspects of the marketing mix - the four P's of product, price, place, and promotion. 3) It discusses the importance of understanding customer value and satisfaction. 4) It outlines different customer markets including consumer, business, government, and nonprofit markets.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    84 views41 pages

    Introduction To Marketing: Sandeep Puri Sandeep Puri

    Uploaded by

    Bhairaw Kumar
    This document provides an overview of marketing concepts including: 1) It defines marketing as identifying and meeting customer needs profitably. 2) It explains the key aspects of the marketing mix - the four P's of product, price, place, and promotion. 3) It discusses the importance of understanding customer value and satisfaction. 4) It outlines different customer markets including consumer, business, government, and nonprofit markets.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    You are on page 1of 41

    Introduction to Marketing

    Sandeep Puri

    Great Lakes give Great Shapes to your Careers

    Sandeep Puri

    Course Outline

    Sandeep Puri

    Importance of Marketing

    Recession is critical for any

    Marketing

    business Survey: # Sustained & Steady Top line Growth # Customer Sandeep Puri Loyalty/Retention
    CEO

    The Role of Marketing


    the business enterprise has two and only these two basic functions: marketing and innovation
    -Peter Drucker

    Sandeep Puri

    What is Marketing?
    Marketing is identifying & meeting needs profitably

    Sandeep Puri

    What is Marketing Management?


    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.

    Sandeep Puri

    Video
    Philip Kotler on Marketing

    Sandeep Puri

    What is Marketed?
    Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas
    Sandeep Puri

    Needs, Wants and Demands


    Needs

    are basic human requirements are needs directed to specific objects/services that might satisfy the need are wants for specific products backed by an ability to Sandeep Puri pay

    Wants

    Demands

    Needs

    Stated Needs Real Needs Unstated Needs Delight Needs Secret Needs
    Sandeep Puri

    Demand States
    Negative Nonexist ent Latent

    Declining

    Irregular

    Full

    Overfull

    Unwholes ome

    Sandeep Puri

    Understand Marketing by Checking What does it do

    Meeting Human/Customer Needs Marketing must know Who are our customers? What are their needs? What must we do to meet their needs?

    Meeting latent and future needs Marketing searches/spots/visualises the latent and future needs of customers. Meeting needs at a profit Marketing meets customer needs at a profit. Sandeep Puri

    Selling/Marketing
    Selling:

    Needs of Seller Needs of Buyers

    Marketing:

    Sandeep Puri

    Push/Pull
    Pull

    : Long TermCustomer perspective : Short TermSelling perspective

    Push

    Sandeep Puri

    A Simple Marketing System

    Sandeep Puri

    Exchange
    Get

    something (product /service) by offering something in return. Eg. kind (barter) or money (value

    )
    Exchange

    is a value creating process because it leaves both parties better off (win win situation)
    Sandeep Puri

    Elements of Exchange
    At Least Two Parties Something of Value Ability to Communicate Offer Freedom to Accept or Reject Desire to Deal With Other Party
    Sandeep Puri

    Necessary Conditions for Exchange

    Market
    A market is all potential customers who share common needs and wants and who have the ability and willingness to buy the product.

    Sandeep Puri

    Markets
    Marketplaces Marketspaces Metamarkets

    : Physical : Digital : Gaffar Market for

    mobiles

    Sandeep Puri

    Target Marketing
    Target marketing is focusing all marketing mix decisions on the specific group of people you want to reach

    Sandeep Puri

    Value & Satisfaction


    Value is the customers estimate of the Products capacity to satisfy a set of goals Value is the ratio between what the customer gets and what he gives V=B/C where V: Value, B: Benefit & C: Cost Customer gets benefits & assume
    Sandeep Puri

    Value and Satisfaction

    Benefits = Functional Benefits + Emotional benefits Costs = Monetary costs + Time + Energy + Psychic costs
    Sandeep Puri

    What is Perceived Customer Value?


    Product value Services value Personnel value Image value Monetary cost Time cost
    Energy cost

    Total custome r benefit

    Custome r delivered value

    Total custome r cost


    Sandeep Puri

    Psychic cost

    Value and Satisfaction

    Sandeep Puri

    Three Vs Approach to Marketing


    Define the value segment

    Define the value proposition

    Define the value network

    Sandeep Puri

    Company Orientations
    Production Product

    Selling

    Marketing

    Sandeep Puri

    Societal Marketing Concept


    Marketing Concept (+) Societys well being. Balancing of following three considerations while setting marketing policies : -Customers want satisfaction Sandeep Puri -Societys want well being

    Sandeep Puri

    Key Customer Markets


    Consumer Markets Global Markets

    Business Markets

    Nonprofit/ Government Markets

    Sandeep Puri

    Marketing Myopia

    Managements failure to recognize the scope of its business.


    Market Oriented Description We are a communication company We are in transportation business We are in financial services business We are in the entertainment business

    Company

    Myopic Description

    Airtel

    We are a Telephone company

    Kingfisher

    We are in airline business

    ICICI direct Sony

    We are in the stock brokerage business Sandeep Puri We are in the gaming business

    Marketing Myopia

    To avoid marketing myopia, companies must broadly define organizational goals toward consumer needs Focus on benefits

    Sandeep Puri

    The 4 Ps of Marketing
    Product Price what the good, service or idea product is that offers a exchanged for bundle of Place all tangible and aspects of intangible getting products attributes to to the consumer satisfy the in the right consumer location at the Sandeep Puri Promotion the right time.

    The Four Ps

    Sandeep Puri

    Product
    A

    product is any offering catered to satisfy needs and wants of consumers. brand is when the product is from a known source.

    Sandeep Puri

    SIVA

    Solution: How appropriate is the solution to the customers problem/need Information: Does the customer know about the solution, and if so how, from whom , do they know enough to let them make a buying decision Value: Does the customer know the value of the transaction, what it will cost, what are the benefits, what might they have to sacrifice, what will be their reward? Access: Where can the customer find the solution. How easily/locally/remotely can they buy it and take delivery.
    Sandeep Puri

    Expanded Marketing Mix for Services


    PEOPLE
    Employees Customers Communicating culture and values Employee research

    PHYSICAL EVIDENCE

    PROCESS

    Facility design Equipment Signage Employee dress Other tangibles

    Flow of activities Number of steps Level of customer involvement

    Sandeep Puri

    Marketing Channels
    Marketing

    channels are used to reach the target segment. channels

    Communication

    -Advertising
    Distribution

    channels trade,

    direct sales
    Sandeep Puri

    The marketplace isnt what it used to be


    Information technology Globalization Deregulation Privatization Competition Convergence Consumer resistance Retail transformation
    Sandeep Puri

    New Consumer Capabilities


    A

    substantial increase in buying power A greater variety of available goods and services A great amount of information about practically anything Greater ease in interacting and placing and receiving orders An ability to compare notes on products and services Sandeep Puri An amplified voice to influence

    Marketing Management Tasks


    Develop

    plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth
    Sandeep Puri

    market strategies and

    You might also like