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    Introduction To Marketing

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    RAHUL KUMAR
    Marketing involves creating, communicating, delivering, and exchanging offerings that provide value for customers and society. The 4Ps of marketing - product, price, place, and promotion - represent the key elements of a marketing strategy. Products include tangible goods as well as services, brands, features, packaging, and warranties. Price, place, and promotion involve setting appropriate prices, distributing products through suitable channels, and promoting offerings through advertising, salespeople, and other techniques to raise awareness among target customers. Together, the 4Ps framework helps businesses satisfy customer needs and wants in a profitable way.

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    Introduction To Marketing

    Uploaded by

    RAHUL KUMAR
    24 views14 pages
    Marketing involves creating, communicating, delivering, and exchanging offerings that provide value for customers and society. The 4Ps of marketing - product, price, place, and promotion - represent the key elements of a marketing strategy. Products include tangible goods as well as services, brands, features, packaging, and warranties. Price, place, and promotion involve setting appropriate prices, distributing products through suitable channels, and promoting offerings through advertising, salespeople, and other techniques to raise awareness among target customers. Together, the 4Ps framework helps businesses satisfy customer needs and wants in a profitable way.

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    Marketing

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    Introduction to Marketing

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    Marketing involves creating, communicating, delivering, and exchanging offerings that provide value for customers and society. The 4Ps of marketing - product, price, place, and promotion - represent the key elements of a marketing strategy. Products include tangible goods as well as services, brands, features, packaging, and warranties. Price, place, and promotion involve setting appropriate prices, distributing products through suitable channels, and promoting offerings through advertising, salespeople, and other techniques to raise awareness among target customers. Together, the 4Ps framework helps businesses satisfy customer needs and wants in a profitable way.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    24 views14 pages

    Introduction To Marketing

    Uploaded by

    RAHUL KUMAR
    Marketing involves creating, communicating, delivering, and exchanging offerings that provide value for customers and society. The 4Ps of marketing - product, price, place, and promotion - represent the key elements of a marketing strategy. Products include tangible goods as well as services, brands, features, packaging, and warranties. Price, place, and promotion involve setting appropriate prices, distributing products through suitable channels, and promoting offerings through advertising, salespeople, and other techniques to raise awareness among target customers. Together, the 4Ps framework helps businesses satisfy customer needs and wants in a profitable way.

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    You are on page 1of 14

    Introduction to Marketing

    Mahesh
    What is Marketing
    • Marketing is the activity, set of institutions, and processes for
    creating, communicating, delivering, and exchanging offerings
    that have value for customers, clients, partners, and society at
    large.-American Marketing Association

    • Marketing is “the science and art of exploring, creating, and


    delivering value to satisfy the needs of a target market at a
    profit.- Philip Kotler
    Why Marketing
    • The heart of your business success lies in its marketing. Most
    aspects of your business depend on successful marketing.
    The overall marketing umbrella covers advertising, public
    relations, promotions and sales. Marketing is a process by
    which a product or service is introduced and promoted to
    potential customers.
    • Nokia case, Mc Donald
    Evolution of Marketing
    Needs, Want & Demand
    Need:
    •  “needs” is the basic human requirements like shelter, clothe,
    food, water, etc.
    • These are essential for human beings to survive.
    • If we take the topic further, other needs are education,
    healthcare, insurance, pension, etc.
    • Needs can be a social thing.
    Cont…
    Want:
    • A want is a product desired by a customer that is not required
    for us to survive. So, want is the complete opposite of need,
    which is essential for survival.
    • For instance, iPhone, CD player, dryer, eating out, Coca-Cola,
    big screen TV, satellite, Starbucks Coffee.
    • Wants are shaped by one’s society and surroundings. 
    Cont…
    Demand:
    • If a customer is willing and able to buy a need or a want, it
    means that they have a demand for that need or a want.

    • If we, financially, are strong enough and can allow ourselves


    to, it means that we’ve transformed our want/need into a
    demand.

    • if a customer is willing and able to buy a need or a want, it


    means that they have a demand for that need or a want.
    Marketing Mix
    • The marketing mix is a set of marketing tools the firm uses to
    pursue its marketing objectives in the target market.-Neil H.Borden

    • Marketing objectives include the group of goals set by a business


    when promoting its products or services to potential consumers
    that should be achieved within a given time frame.
    • A target market is a group of customers within the serviceable
    available market that a business has decided to aim
    its marketing efforts towards.
    • marketing effort is the total amount of resources which a firm puts
    into the MARKETING MIX in order to stimulate demand for its
    goods and services 
    4P’s of Marketing by E. Jerome McCarthy
    4’P of Marketing
    Product
    • A Product is anything that can be offered to a customer to satisfy
    his/her need or want.
    • Brand:
     word, name, symbol, etc., especially one legally registered as atr
    ademark, used by a manufacturer or merchant to identify itsprod
    ucts distinctively from others of the same type and usually
    prominently displayed on its goods, in advertising, etc.
    • Variety: A merchandising strategy in which a manufacturer
    produces different products in the same category.
    • Quality:  refers to the perception of the degree to which the
    product or service meets the customer's expectations.
    Cont…
    • Feature: is a distinctive characteristic of a good or service that sets it
    apart from similar items.
    • Packaging: The wrapping material around a consumer item that
    serves to contain, identify, describe, protect, display, promote and
    otherwise make the product marketable and keep it clean .
    • Size: refers to quantity offered.
    • Services: A valuable action, deed, or effort performed to satisfy a
    need or to fulfill a demand.
    • Warranties: A warranty describes the conditions under, and period
    during, which the producer or vendor will repair, replace, or other
    compensate for, the defective item without cost to the buyer or user.
    • Returns: Sold merchandise returned by customers for refund
    Price:
    • Price is the money you pay for any product or service.
    • MRP: A maximum retail price (MRP) is a manufacturer
    calculated price that is the highest price that can be charged for
    a product sold.
    • Discounts: is reduced prices or something being sold at a price
    lower than that item is normally sold for.
    • Allowances: Companies typically reward customers for desirable
    behaviour.
    • Payment Period: Allowance given to the customer for later
    payment.
    • Credit Term: Terms of credit for customer.
    Place:
    • Place is marketing channel/trade channel/distribution channel that the
    firm uses to reach to the final customer.
    • Distribution Channel: chain of intermediaries that a company employs
    and through which a good or service passes until it reaches the end
    consumer.
    • Coverage: Is the intensity of distribution.
    • Assortments: The range of product availability.
    • Inventory: Stock holding to service the customer.
    • Transportation: is the movement of goods from one location to another.
    • Location: Accessible points for the customer to own the
    product/service.
    Promotion:
    • Promotion includes set of tools used by a firm to create awareness among
    the target market about the offerings of the firm.
    • Sales promotion: Consumer sales promotion is a marketing technique that is
    used to entice customers to purchase a product.
    • Advertising: Advertising is an audio or visual form of marketing
    communication that employs an openly sponsored, non-personal message
    to promote or sell a product, service or idea.
    • Sales Force: is where businesses use people (the "sales force") to sell the
    product after meeting face-to-face with the customer.
    • Direct Marketing: a method of contacting customers and potential
    customers personally, rather than having an indirect medium between the
    company and the consumer.
    • Public Relations: Public relations is the practice of managing the spread of
    information between an individual or an organization and the public.

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