Marketing Management Introduction Lec 1

Program: MBA- II Semester- First Year
MBA 201: Marketing Management
Introduction
(Jan – Jun 2024)
Dr. Preeti Singh

Professor –Department of Management
preeti.singh@itmgoi.in
Marketing Management 201 1

Outlines
Prerequisite
Student Effective Learning Outcomes (SELO)

What is the new economy like?
What are the major concepts
Different approaches of marketing.
Define evolution of marketing.
Assignment
Reading Material
Marketing Management 201 2
Prerequisites
• The students should come prepared with provided videos
and subject matter on LMS (Tattva).
3
Marketing Management 201
Student Effective Learning Outcomes (SELO)
After this session students will be able to
1. Know new economy.

2. Awareness of the major concepts of marketing
3. Different approaches of marketing.
4. Define evolution of marketing.

The New Economy
• Substantial increase in buying power

• A greater variety of goods and services
• A greater amount of information about practically anything.
• A greater ease in interacting and placing and receiving orders.
• An ability to compare notes on products and services
Marketing Management 201 SELO 1 Ref. 1, 2

Cont
• Websites can provide companies with powerful new information
and sales channels.
• Companies can collect fuller and richer information about markets,
customers, prospects and competitors.
• Companies can facilitate and speed up communications among
employees.
• Companies can have 2-way communication with customers and
prospects

Cont.
• Companies can send ads, coupons, samples, information to targeted
customers.
• Companies can customize offerings and services to individual
customers.
• The Internet can be used as a communication channel for
purchasing, training, and recruiting.
• Companies can improve logistics and operations for cost savings
while improving accuracy and service quality

What can be Marketed?
Goods Services Events Experiences
Persons Places Properties Organizations
Information Ideas

Implications of Marketing
• Who are our existing/potential customers?
• What are their current/future needs?
• How can we satisfy these needs/
• Can we offer a product/service that the customer would value?
• Can we communicate with our customers?
• Can we deliver a competitive product or service?
• Why should customers buy from us?

Social Definition
Marketing is a societal process by which individuals and groups

obtain what they need and want through creating, offering, and
exchanging products and services of value freely with others.

As Peter Drucker says
“The aim of marketing is to make selling superfluous. The aim of
marketing is to know and understand the customer so well that the
product or service fits him and sells itself. Ideally, marketing should
result in a customer who is ready to buy.”

The American Marketing Association Definition
Marketing (management) 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

Peter F. Drucker
“Marketing is not only much broader than selling; it is not a
specialized activity at all. It encompasses the entire business. It is the
whole business seen from the point of view of the final result, that is,
from the customer’s point of view. Concern and responsibility for
marketing must therefore permeate all areas of the enterprise.”

Philip Kotler
“Authentic marketing is not the art of selling what you make but
knowing what to make. It is the art of identifying and understanding
customer needs and creating solutions that deliver satisfaction to the
customers, profits to the producers and benefits for the
stakeholders.”

Six dimensional approaches
Customer oriented
Integrated approach to exploiting mkt opportunities

(product quality)
Futuristic Approach
Highly developed marketing system
Marketing culture-new idea
Speed

Marketing Concept
Customer
Oriented
Coordinated
Customer Organizational
Marketing
satisfaction success
activities
Organization
Performance Obj.
Components Outcomes

Production Oriented
Product Oriented
Product Oriented Sales Oriented
Product Oriented Sales Oriented Market Oriented
Evolution of Marketing
SELO 4 Ref. 1, 2
2/23/2024
18
2/23/2024
Assignment
• What are the sources of marketing information?
• What are the features of marketing?
19
Marketing
MarketingManagement
Management201
201
Reading Material
1. KK: Kotler & Keller ,Marketing Management,13th Edition,
Prentice Hall
2. VS: V. S. Ramaswamy , Marketing.
3. Station William J- Fundamentals of Marketing (MC 6raw Hill)
4. Kotler Philip Keller Kevind Lane, Koshy Abraham and .Jha
Mithileshwar - Marketing
5. Management: A South Asian perspective (Pearson Education 12th
Edition)
20
21
MM 201

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Program: MBA- II Semester- First Year

MBA 201: Marketing Management

(Jan – Jun 2024)

Dr. Preeti Singh

Marketing Management 201 1

Student Effective Learning Outcomes (SELO)

What are the major concepts

Different approaches of marketing.

Define evolution of marketing.

1. Know new economy.

Marketing Management 201

• Substantial increase in buying power

Marketing Management 201 SELO 1 Ref. 1, 2

Marketing Management 201 SELO 1 Ref. 1, 2

Marketing Management 201 SELO 1 Ref. 1, 2

Goods Services Events Experiences

Persons Places Properties Organizations

Marketing Management 201 SELO 2 Ref. 1, 2

Marketing Management 201 SELO 2 Ref. 1, 2

Marketing is a societal process by which individuals and groups

Marketing Management 201 SELO 3 Ref. 1, 2

Marketing Management 201 SELO 3 Ref. 1, 2

Marketing Management 201 SELO 3 Ref. 1, 2

Marketing Management 201 SELO 3 Ref. 1, 2

Marketing Management 201 SELO 3 Ref. 1, 2

Integrated approach to exploiting mkt opportunities

Highly developed marketing system

Marketing culture-new idea

Marketing Management 201 SELO 3 Ref. 1, 2

Marketing Management 201 SELO 3 Ref. 1, 2

Product Oriented Sales Oriented

Product Oriented Sales Oriented Market Oriented

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