MARKETING MANAGEMENT

INTRODUCTION

Dr. Prakriti Dixit Porwal

 WHAT IS MARKETING…??

Selling?

Advertising?

Promotions?

Making products available in stores?

Maintaining inventories?

All of the above, plus much more!

 MARKETING
“Marketing is getting the right goods and
services to the right people at the right
place at the right time at the right price
with the right communication &
promotion”.

Philip Kotler ,

'satisfying needs and wants through an

exchange process‘
 MARKETING MANAGEMENT

Philip Kotler

“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.

 IMPORTANT TERMS
Needs, Wants and Demands

Products

Value and satisfaction

Exchange

Markets
Cont…

(i) Needs, Wants and Demands

Needs are basic human

requirements like food , air, water,
clothing and shelter.

Needs become wants when they are

directed to specific objects that might
satisfy their needs.

Wants become demands when

backed up by purchasing power
Cont…

(ii) Products
“A product is anything that can be offered to satisfy
a need or want”

Product

Physical Product Virtual Product

offerings of services or
durable goods (such nondurable goods
experiences (such as education,
as cars, furniture, (such as food and
software & other digital
computers etc) beverages).
products).
Cont…

(iii) Value & Satisfaction

▪ Consumers choose among the products, a

particular product that give them maximum value.

▪ Satisfaction - Based on a comparison of

performance & expectations.
Performance Expectations Satisfaction
Performance < Expectations Dissatisfaction
Cont…

(iv) Exchange

Exchange is the act of obtaining a desired product

from someone by offering something in return.

(v) Markets
A market is any place where the sellers of a
particular good or service can meet with the
buyers in need of that goods and service, in
exchange of something.
Cont…

Market is further classified into :-

• The Marketplace is markets of

physical goods and products
Marketplace • E.g. :- Retail stores, Supermarket,
Outlets etc.

• The Marketspace online market space

with websites.
Marketspace
• E.g. :- Ebay, Amazon

• Rather than giving multiple

products to one customer, the meta
Metamarket market brings together different
customers of the same product.
• E.g. :- 99acres.com , Yatra.com
SIMPLE MARKETING SYSTEM
 Marketing Functions
The functions of Marketing defines the process of
making the customers awareness related to the
products or services that are offered by a business
Cont..
IMPORTANCE OF MARKETING

Organizations Society / consumers

Increase in the
Gain income Standard of Living

Marketing Employment
information Opportunities

Source & channel

of new ideas Economic Stability

Decision making Creates Utility

Satisfaction of
Human Wants
PHILOSOPHIES OF MARKETING

Marketing
Management
Orientations
Cont… PRODUCTION CONCEPT
⁕ Major emphasis was on the production process &
control on the technical perfections while producing the
goods.

⁕ It holds that consumers will prefer products that are

widely available and inexpensive.

⁕ Focuses on achieving high production efficiency, low

costs, and mass distribution.

E.g. - McDonald’s & fast food chains in general also aim to

ace their operations.
- Vivo, the Chinese smartphone brand. Their phones are
available in almost every corner of the Asian market.
Cont… PRODUCT CONCEPT

⁕ Consumers’ will favor those products that offer the

most quality, performance and features.

⁕ creates a marketing pull

⁕ E.g. - Mobile Phone (Apple and Samsung) &

Laptops (Apple and HP) etc
Cont…
SALES CONCEPT
A company cannot expect its products to get picked up
automatically by the customers. The company has to
consciously push its products.

E.g. - Blood donations, Insurance policies, Funeral plots

etc.

Tools :
⁕ Aggressive advertising,
⁕ High-power personal selling
⁕ Sales promotion, heavy price discounts
⁕ Strong publicity & public relations
Cont… MARKETING CONCEPT

⁕ Customer-oriented.

⁕ It discovers customers’ demands and wants, then

meeting those needs marketing strategy
concentrates on producing a profit by satisfying the
needs and wants of customers better than the
competitors.

⁕ E.g. – Dell (customized PC)

Cont… SOCIETAL MARKETING CONCEPT

Concept is based on the welfare of the entire society

Societal Marketing = Consumer Satisfaction + Company ‘s

Profits + Society’s well being.

E. g.:
⇝ Tesla promises a big push for green energy with electric
cars and solar roof panels/tiles.
⇝ Magazines like Kalki, Ananda Vikadan, do not accept
any advertisements for Cigarettes or alcoholic liquors
⇝ Adidas is committed to manufacture its products that
could be reused over and over again.
 HOLISTIC MARKETING CONCEPT

⋇ It can be defined as a marketing strategy which

considers the business as a whole and not as an entity
with various different parts.

⋇ It involves interconnected marketing activities to

ensure that the customer is likely to purchase their
product rather than competition.

E.g. -Samsung products are developed keeping the

customer in mind. The showrooms are branded in the
proper manner, the customer service is polite and the
service is fast.
Cont…
Features of Holistic Marketing Philosophy

Common Goal

Integrated Aligned
Activities Activities
Cont…
Holistic Marketing Component
focused on building strong & long-lasting relationships with all stakeholders
who can directly or indirectly influence the success of the business.
Relationship
Marketing customers, employees, shareholders, suppliers, channel partners, regulatory
bodies, & financial institutions.

aims to deliver the same message to customers through every

Integrated marketing channel.
Marketing Communication, product and services, channel and price

products and services are promoted within the organisation itself

Internal
Marketing Marketing Dept., Senior Dept., Other Depts.

focus on social image and those aspects of marketing that are directly
Societal concerned with or affect the community and society.
Marketing Society wellbeing, Social Responsibilities & Comfort

Is the practice of looking at marketing metrics closely to ensure your

Performance company is taking the right approach
Marketing Sales Revenue, Social, legal, Ethic, Environment..
Cont…
Need of Holistic Marketing
 CO-CREATION

☞ “Co-creation is an active, creative and social process,

based on collaboration between producers and users,

that is initiated by the firm to generate value for

customers.

☞ It is a allied initiative between companies and their

customers enabling the joint design of products &

services.
Cont… Examples
⋇ Sunsilk Co-Creation Concept

Partnered with 7 of the best hair

expert in the world- To change the
Sunsilk forever
Cont…

⋇ NIKE Id Co-Creation Concept

Nike giving customers online tools to design

their own sneakers
Cont…

⋇ PepsiCo’s Lay’s Co-Creation Concept

Lay’s Increases Sales by

Asking Customers to “Do Us
a Flavor”
Cont… Forms of Co Creation
Developer

Customisation

Co-innovation

Integrator

Facilitator
CONSUMER ENGAGEMENT

Consumer Engagement refers to a

company's or brand's efforts to build
relationships with individuals through
personalized interactions on multiple
channels, with the goal of gaining and
retaining loyal customers.
Cont… Important of Consumer Engagement

Help grow of organization

Improve customer retention

Boost company’s revenue

Build goodwill

Gain competitive edge

Provide sustainability
Cont… Examples
Netflix’s investment in algorithms and audience analytics
allows them to offer an on-demand service that’s unique for
each viewer.
There are now “33 million different versions of Netflix.”
Cont…

Nike ’s huge range of products requires an inclusive, rather than

an exclusive loyalty program.

The NikePlus Membership program unlocks a range of benefits for

its users, including:
↬ Special rewards for successful workouts
↬ Customized playlists on Apple Music
↬ Personalized promotions (like early access, product discounts)

The Nike Run Club and the Nike Training Club apps reward users
with badges and other rewards every time they reach a new
milestone like finishing their first 5k.
 MARKETING MIX
It is defined as the set of marketing tools that the
firm uses to pursue its marketing objectives in the
target market.

4 P’s of Marketing
4 C’S IN MARKETING MIX
 SERVICE MARKETING MIX
⁕ Also termed as extended marketing mix
⁕ It is a tool used to place and position the services in the
target market.

Service Marketing Mix

Key- Note
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It is not the replacement of Text Books.