Professional Documents
Culture Documents
Singapore
Malaysia
Sydney
Mumbai
Beijing
Paris
There are
Goods or Products
Services
Experiences
Events
Properties
Organizations
information
ideas
PERSONS
PLACES
PERSONS GOODS
PROPERTIES
ORGANISATIONS SERVICES
MARKETING
INFORMATION EXPERIENCES
PLACES EVENTS
IDEAS
In group of 3 write
What is Demand?
NEGATIVE DEMAND
NO DEMAND
DECLINING DEMAND
DEMAND STATES
IRREGULAR DEMAND
FULL DEMAND
OVERFULL DEMAND
Unwholesome demand
Can you name a category of products for which your negative feelings have softened? What precipitated this change?
Products
Market
Human Needs
It is a state of felt deprivation of some basic satisfaction.
Wants
These are desires for specific satisfiers of these deeper needs.
Demands
These are wants for specific products that are backed by an ability & willingness to buy them.
Products
These are anything that can be offered to satisfy a need or a want. The importance of physical product lies not so much in owing them as in obtaining the services they render.
Vehicle of services
Exchange, Transactions & Relationship Exchange is one of the four ways people can obtain products. a. Self production. b. Coercion. c. Begging. d. Exchange. Exchange is the act of obtaining a desired product from someone by offering something in return.
1. 2. 3. 4. 5.
Five conditions of exchange At least two parties. Each party has something that might be of value to the other party. Each party is capable of communication & delivery. Each party is free to accept or reject the offer. Each party believes it is appropriate or desirable to deal with the other party.
Transactions These are basic unit of exchange. A transaction consists of a trade of values between two parties.
1. 2. 3.
Dimensions of transactions
At least two things of value. Agreed upon conditions. A time of agreement. A place of agreement.
4.
Markets It consists of all potential consumers sharing a particular need or want who might be willing & able to engage in exchange to satisfy that need or want. Marketing It means Working with markets to actualize potential exchanges for the purpose of satisfying human needs & wants. Marketer It means someone seeking a resource from someone else & willing to offer something of value in exchange.
Consumer
Nonprofit/ Government
Types of Markets
Business
Global
Marketing Concepts
Competition
Target Markets and Segmentation
Products or Offering
Marketing Concepts
Marketing Environment
Supply Chain
Marketing Mix
Marketing Concepts
Marketing Channels
MARKETING MIX
PLACE
PRODUCT Variety Quality Design Features Brand Packing Sizes Services Warranties Returns
PRICE PROMOTION
Four P,s
PRODUCT PRICE PLACE PROMOTION
Customer Convenience
Comm with Customer
product
Selling
Competing Concepts
Production
Marketing
Societal Marketing
Production Concept
Concentrate on achieving high production efficiency, low cost & mass distribution Consumers prefers inexpensive items in Developing countries Used also in expanding Market Over Populated Counties-
The product concept holds that consumers will favor those products that offer the most quality, performance or innovative features. Managers in these product oriented organizations focus their energy on making superior products & improving them over time.
Product Concept
Consumers Favors quality, performance or innovative features Managers focus on producing superior Products Little or No Customer Input Rarely Examine Competitor's Product Management commit Better-mousetrap Leads to marketing Myopia
HMT Watches
Marketing Myopia a)marketing myopia means crooked perception of marketing and short sightedness about business. b)Excessive attention to the production or product or selling aspects at the cost of customer and his actual needs,creates a myopia. c)it leads to wrong or inadequate understanding of the market and hence failure in the market place. d)It also leads to a wrong understanding or inadequate understanding of the very nature of the business thereby affecting its future. e)Since The business keep changing with times but the basic fundamental characteristics related to human need which business seek to serve amd satisfy through its products should be maintained. f)they should define their business according to their fundamentals and not in the terms of the products and services manufactures at given point of time. E.g. movie makers should define their business as entertainment.
The selling concept holds that consumers, in left alone, will ordinarily not buy enough of the organizations products. The organization must therefore undertake an aggressive selling & promotion effort.
Selling Concept
Consumers & businesses if left alone, will not buy enough Undertake aggressive Selling & Promotion
The marketing concept holds that the key to achieving organizational goals consists in determining the needs & wants of target markets & delivering the desired satisfaction more effectively & efficiently than competitors.
Marketing Concept
More effective than competitors in creating, Delivering, and communicating superior customer Value Putting People First
Start
focus
means
ends
Profit through Selling Concept Sales Volume
Factory
Products
Target market
Customer needs
Integrated marketing
Customer Concept
Starting Point
Focus
Means
Ends
Individual customer
Marketing
1.Marketing starts with the customer ,present and potential and focuses constantly on the need of the buyer.Buyer is the centre of the business universe.activities follow the buyer and his needs. 2.Emphasis on identification of a market opportunity and fulfilling the needs of the customer. 3.Seeks to convert customer needs into products.
Selling
1.Selling starts with the seller.It focuses on the need of the need.Seller is the centre of the business universe.activities starts with sellers existing products. 2.Emphasis on saleable surpluses available within the corporation. 3.Seeks to convert productinto cash,concerns itself with the tricks and techniques of getting the customers to buy the product available with the salesman in exchange of cash. 4.View business as a goods producing process. 5.Overemphasis the exchangeaspect without caring for the value satisfaction inherent in the exchange. 6.The firm makes the product first and then figure out how to sell it and make profit.
4.View business as customer satisfying process. 5.It is concern with the value satisfaction customer should get from the exchange. 6.The firm makes a total product offeringthat would match and satisfy the identified needs of the customers. 7.Adopting more innovative technology to provide better value to the customer. 8.If the enterprise has a customer orientationconcerned more about his needs,and make genuine efforts to satisfy those needs ,then it is practising
7.Emphasis on staying with the existing technology and reducing the cost of production. 8.If the enterprise has internal orientation concerned more about itself and its products and the need to dispose off its products,then it is practicing Selling.
10.They are seen as vital services to be provided to the customers keeping in mind their convinience. 11.In firms practising marketing,marketing is the central function of the business;the entire company is organised around the marketing function. 12.Marketingviews the customer as the very purpose of the business;sees business from point of view of the customer.
10.Transportation,storage and other distribution functions are merely a part of production function. 11.In firms practising selling,production is the central function of the business.
2.Long term profitability;Customer satisfaction,which is a major theme of the marketing concept does not preach that a firm must generate consumer and forget the other goals of the organisation.Instead it should treat customer as a pathway to the attainment of all the goals of the organisation.And ,inthis process,the Organisational goals including profits are automatically realised.The Market Concept never suggests that profit is unimportant to the firm but are essential for the survival and growth of any business.
3.Integrated Management action;All Organisational departments should be well coordinated keeping marketing as the pivot.Lack of coordination between different departments or function can hamper the performance of the organisation.The marketing department should be well coordinated with other departments like R&D,finance,personnel and manufacturing. The organisations that do not practice integrated management,the departments are preoccupied with the optimisation of their specific activities thus effecting the overall result. e.g. the engineering department may create a substandard product to save cost of production.
Who benefits from the Marketing Concept 1.The Organisation;The organisation keep itself in the pace with the times and through contineous marketing audit,market research and consumer testing.It is quick to respond to changes in the buyer behaviour,rectify its products and give great importance to planning,research and innovation.
2.The Consumer;As the organisation improve its products,it benefits its consumers as they get better quality,low price,improved/new products and ready stocks at convinient places. 3.The Society;Since the Organisations are producing products as per the consumers so it ensures that the societys economic resources are channelised in the right direction.It also creates entrepreneurs and managers in the given society.It improves the standard of living of the people and accelerates economic development of the society as a whole.
TM
CUSTOMERS
MM
TM
CUSTOMERS
Societal Concept
To determine the needs, wants and interest of the Target Market and deliver the desired Satisfaction that preserves the society's well being
CUSTOMER SATISFACTION STILL SUBSERVIENT GOAL IGNORES SOCIAL AND ENVIRONMENTAL GOOD SUPRESSES INNOVATION
The societal marketing concept holds that the organizations task is to determine the needs, wants & interests of target markets & to deliver the desired satisfaction more effectively & efficiently than competitors in a way that preserves or enhances the consumers & societys well being.
PRODUCTION
FINANCE
MARKETING
HUMAN RESOURCE
PRODUCTION
FINANCE
MARKETING
HUMAN RESOURCE
PRODUCTION
MARKETING
HR
FINANCE
CUSTOMER
HR
P
MKG
MKG MKG
CUSTOMER
MKG
HR
Marketing
is a process by which individuals and groups obtain what they need and want through creating, offering and exchanging products and services of value with others
Marketing Management
is an art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value
Personal value
Image value
Energy cost
Psychic cost
???
Prepare a summary of the topic on marketing-10 minutes any one can be asked to make a presentation..