MM Lecture 1.pptx

8/11/2019 MM Lecture 1.pptx

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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

Marketing management

Basics

30 September 2014


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Contents

1. Definitions

2. Evolution of marketing concept

3. Five imp concepts of marketing

4. Nature

5. Scope

6. Marketing process

7. Importance

8. Marketing management concepts9. Definition of Marketing management

10. Difference between Selling and Marketing


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Definitions

It is an organizational function and a set ofprocesses for creating, communicating, delivering

value to customers, managing customerrelationship so as to benefit the organization andits stake holders. (AMA)

It is a social process by which individuals and

groups obtain what they need and want throughcreating, offering, freely exchanging products andservices of value with others.(Kotler)


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Traditional view of Marketing

Making the Product

Selling the Product

Modern view of marketing

Choosing the value Providing the valueCommunicating the value


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Evolution of Marketing concept

1.Self sufficient Stage

2.Exchange oriented stage 3.Production oriented stage(1869-1930)

4.Sales oriented stage(1930-1950)

5.Marketing oriented stage(1950-1990) 6.Customer oriented stage(1990-till now)


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

There are five core customer and marketplace

concepts:

1.Needs, wants and demands.

Needs-State of felt deprivation

Wants-

Demands-They are wants for specific products

backed by ability to pay 2.Market offerings: Products, Service and experience


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

3.Market targeting,Positioning and segmentation

4.Customer value and satisfaction

Customer value is the difference between the value the customer gains

from the product and the cost of buying the product

5.Exchange and Transactions 6.Marketing channels- Communication,Distribution and service channels

7.Market-is a set of actual and potential customers

8.Relationships


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Nature of Marketing

1. It is customer oriented

2. It starts and ends with the customer

3. It must deliver value

4. It is a process

5. Marketing strategy affects co strategy6. It is both science and art

7. It is goal oriented

8. It is a system

9. It precedes and succeeds production

10. Marketing is a Legal Process by which Ownership Transfers11. Marketing is a Managerial function

12. Marketing had dual objectives - profit making and consumer satisfaction


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Scope

1.Functions of research

Marketing Research

Product planning and development

2.Functions of exchange Buying and assembling

Selling

3.Functions of Physical treatment

Branding

Packaging

Storage

Transportation


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MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

4.Functions of facilitating exchange

Personal selling

Advertising Pricing

Insurance

Financing


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Marketing process

Scanning the environment

Analysing marketing opportunities Designing marketing startegies

Implementing and controlling marketing

practices


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Importance

It creates utilities

a) Form utility

b) Person utility

c) Exchange utility

d) Place utility

e) Time utility

f) Knowledge utility


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

2.It determines the rate of progress of economy

3.It improves our standard of living

4.It generates employment

5.Helps in developing economic resources

Generates revenue for the firm

6.It bridges the gap between production and consumption

7.Marketing Promotes Product Awareness to the Public

8.Marketing Helps Boost Product Sales

9.Marketing Builds Company Reputation


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Marketing Concept

Philip Kotler says, The marketing concept holds that the key to achieving

organizational goals consists in determining the needs, needs, and interests of

target markets and to delivering the desired satisfactions more effectively and

efficiently than competitors.

The Societal Marketing Concept:

According to the Philips Kotler, the societal marketing concept holds that the

organizations tasks is to determine the needs, wants and interests of target

markets and to deliver the desired satisfaction more effectively and efficiently than

competitors.

Society (welfare)Company (Profit)

Consumer(Satisfaction)


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Marketing Management:

Marketing management is the process of

planning and executing the conception,

pricing, promotion, and distribution of ideas

goods , services to create exchanges that

satisfy individual and organizational goals.


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Difference between selling and marketing

1.Focus

2.Objective 3.Importance

4.Approach

5.Convert 6.Profits


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IIMT SCHOOL OF

MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

Recent innovations in marketing

1.Demarketing

2.Remarketing

3.Overmarketing

4.Morph marketing

5.Relationship marketing

6.Augmented marketing

7.Network marketi ng

8.Mass marketing Segmented marketing


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MANAGEMENT (ISM)

IIMT SCHOOL OF

MANAGEMENT (ISM)

30 September 2014

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MANAGEMENT (ISM)

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MANAGEMENT (ISM)

30 September 2014

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Documents

MM Lecture 1.pptx