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    MARKETING

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    Jyothimol Joy
    Marketing involves creating, communicating, delivering, and exchanging offerings that provide value to customers and society. It is defined by the AMA as an activity that creates value for customers, partners, and society through exchange. Marketing involves understanding customer needs and satisfying them through exchange. The four Ps of the marketing mix are Product, Price, Place, and Promotion. Product involves the tangible and intangible attributes of what is being offered. Price involves determining the methods and levels of pricing. Promotion involves communicating with and persuading customers. Place involves physically distributing the product from manufacturer to customer through appropriate channels.

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    MARKETING

    Uploaded by

    Jyothimol Joy
    237 views10 pages
    Marketing involves creating, communicating, delivering, and exchanging offerings that provide value to customers and society. It is defined by the AMA as an activity that creates value for customers, partners, and society through exchange. Marketing involves understanding customer needs and satisfying them through exchange. The four Ps of the marketing mix are Product, Price, Place, and Promotion. Product involves the tangible and intangible attributes of what is being offered. Price involves determining the methods and levels of pricing. Promotion involves communicating with and persuading customers. Place involves physically distributing the product from manufacturer to customer through appropriate channels.

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    MARKETING

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    Marketing involves creating, communicating, delivering, and exchanging offerings that provide value to customers and society. It is defined by the AMA as an activity that creates value for customers, partners, and society through exchange. Marketing involves understanding customer needs and satisfying them through exchange. The four Ps of the marketing mix are Product, Price, Place, and Promotion. Product involves the tangible and intangible attributes of what is being offered. Price involves determining the methods and levels of pricing. Promotion involves communicating with and persuading customers. Place involves physically distributing the product from manufacturer to customer through appropriate channels.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    237 views10 pages

    MARKETING

    Uploaded by

    Jyothimol Joy
    Marketing involves creating, communicating, delivering, and exchanging offerings that provide value to customers and society. It is defined by the AMA as an activity that creates value for customers, partners, and society through exchange. Marketing involves understanding customer needs and satisfying them through exchange. The four Ps of the marketing mix are Product, Price, Place, and Promotion. Product involves the tangible and intangible attributes of what is being offered. Price involves determining the methods and levels of pricing. Promotion involves communicating with and persuading customers. Place involves physically distributing the product from manufacturer to customer through appropriate channels.

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    MARKETING

    INTRODUCTION TO MARKETING
    It is the activity, set of institutions, and processes for creating, communicating,
    delivering, and exchanging offerings that gives value for customers, clients,
    partners and society at large.

    DEFINITION TO MARKETING

    Marketing is defined by the American Marketing Association (AMA) as "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“.

    Philip Kotler defined marketing as "Satisfying needs and wants through an


    exchange process" and a decade later defines it as "a social and managerial
    process by which individuals and groups obtain what they want and need through
    creating, offering and exchanging products of value with others“.
    FEATURES OF MARKETING
    Customer focus
    Customer satisfaction
    Objective-oriented
     Marketing is both art and science
    Continuous and regular activity
    Exchange process
    Marketing environment
    Marketing mix
    Integrated approach
    Commercial and non-commercial organizations
     Precedes and follows production
    FUNCTIONS OF MARKETING
    Gathering and analysing market information
    Marketing planning
    Product designing and development
    Standardization and grading
    Packing and labeling
    Branding
    Customer support services
    Pricing of product
    Promotion
    Physical distribution
    Transportation
    Storage or Warehousing
    4 Ps OF MARKETING MIX
    Marketing Mix is a set of marketing tool or tactics, used to promote a product or
    services in the market and sell it. It is about positioning a product and deciding it to
    sell in the right place, at the right price and right time. The product will then be
    sold, according to marketing and promotional strategy. The components of the
    marketing mix consist of 4Ps Product, Price, Place, and Promotion. In the business
    sector, the marketing managers plan a marketing strategy taking into consideration
    all the 4Ps. However, nowadays, the marketing mix increasingly includes several
    other Ps for vital development.
    1. PRODUCT

    a) A product is defined as a bundle of attributes (features, functions, benefits,


    and uses) capable of exchange or use; usually a mix of tangible and
    intangible forms.
    b) Thus a product may be an idea, a physical entity (a good), or any
    combination of the three. It exists for the purpose of exchange in the
    satisfaction of individual and organizational objectives.
     
    The decisions regarding product mix will depend on many factors like :

    Design
    Features
    Brand name
    Product variety
    Quality
    Services
    Packaging, returns, etc.
    2. PRICE
     
    Pricing decisions should be taken with great care, as it is a double-edged
    sword. If your product is priced too high, it may exude a feeling of high
    quality. At the same time, it will make your product placing to limited and
    standard stores. So the marketer must know the art of wielding this
    dangerous sword of pricing.

    The pricing mix decisions need to consider the below marketing


    variables :

    Methods of pricing; policies; strategies


    Allowances
    Discounts, rebates
    Payment period
    Credit policy
    3. PROMOTION
    It aims to serve two objectives. One, it informs the potential customers about your
    product and secondly, it persuades them to buy your product. The promotion mix
    will thus include the various means that you can use to communicate with the
    target audience. An effective promotion mix will ensure good sales and a marketer
    must strive to create a conducive environment.

    The main elements of a promotion mix are:

    Advertising
    Personal selling
    Public relations
    Direct marketing
    Publicity -social media, print, etc.
    Sales promotion
    4. PLACE
    A. Place or physical distribution deals with the transfer of ownership of the product
    from the manufacturer to the customer.
    B. The margin of your profit depends on how quickly you can turn over the goods.
    The more swiftly the products reach the point of sale, the more likely are the
    chances of satisfying the customers and increase brand loyalty. Hence the Place
    factor is crucial in ensuring your product’s competitiveness in the market.

    The following are the elements of a distribution mix :

    Channels of distribution
    Warehousing decision
    Product handling
    Transport
    Inventory control
    Order processing
    Coverage
    THANK YOU

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