Parul Institute of Engineering &

Technology
Subject Code : 150001
Name Of Subject : MANAGEMENT- 2
Name of Unit : INTRODUCTION TO
MARKETING
Topic : FOUR Ps of Marketing,Concepts
of Marketing
Name of Students: Agrawal Swapnil J.

CONTENTS
INTRODUCTION
What is Marketing?
Marketing Management

4 Ps of Marketing

Introduction to Marketing Mix

Product
Price
Place
Promotion

Sub: MANAGEMENT-2
Function

Topic: Marketing

CONTENTS
Different Concept of Marketing
Introduction
The Marketing Concept
Core Marketing Concept
Management Orientation

Production Concept
Product Concept
Selling Concept
Marketing Concept
Holistic Concept
Societal Concept
Sub: MANAGEMENT-2
Function

Topic: Marketing

What is Marketing?
Marketing is managing profitable
customer relationships
Attracting new customers
Retaining and growing current
customers

Marketing is NOT synonymous with

sales or advertising
Sub: MANAGEMENT-2
Function

Topic: Marketing

Marketing Management
Marketing management is
the art and science of choosing
target markets and building
profitable relationships with them.
Creating, delivering and
communicating superior
customer value is key.
Sub: MANAGEMENT-2
Function

Topic: Marketing

Marketing Management
Customer Management:
Marketers select customers that
can be served well and profitably.

Demand Management:
Marketers must deal with different
demand states ranging from no
demand to too much demand.

The 4 Ps of Marketing

Sub: MANAGEMENT-2
Function

Topic: Marketing

The 4 Ps of Marketing
4 Ps
Referred to as The Marketing Mix
All four are essential to the success of a
marketing plan for either a product or a
service
4 Ps stand for
Product
Price
Place
Promotion
Topic:
Sub:
A mixMANAGEMENT-2
of the four is necessary
toMarketing
sell a
Function
product

The Marketing Mix

The elements are
interconnected
Product
Place

Price

Promotion

Sub: MANAGEMENT-2
Function

Topic: Marketing

The Marketing Mix

Think of a Cake
All cakes need 4 things flour, egg, sugar,
milk
However, you can play with the flavour of
your cake by changing the ingredients
slightly
Example: Sweeter cake add
more sugar
Sub: MANAGEMENT-2
Function

Topic: Marketing

The Marketing Mix

The same thing is true with the marketing
mix
You can very the type of message you are
sending out about your product/service by
mixing different elements of each of the
Ps
Example: Want to be seen as a luxury item
make the price high, have limited
selection
Sub: MANAGEMENT-2
Function

Topic: Marketing

Product

Refers to the benefits of buying a

product
What need does the service/product
fulfill
Quality
What will the quality of your
service/product be?
Some people really want quality vs.
others that dont really matter

Features
How will your
Sub: MANAGEMENT-2
Function

Topic: Marketing
product/service
differ
from the competition

Product
Packaging if your selling a product what
image will the packaging communicate?
If a service how will the appearance of your
operation communicate an image about your
business

Range of Products what complimentary

products may you offer
If service: Will you offer other products with
your service
E.g. Think of range of products that apple has

Sub: MANAGEMENT-2
Function

Topic: Marketing

Price
Marketing is responsible for establishing the
price of their service/product
Must consider the costs of all the inputs
(materials, labour, etc)
Mark-up Price How much profit do you want
to make on every product/customer
Example: Selling Cupcakes
Every cupcake uses $1 of materials and labour
roughly costs $0.25 to make one muffin
You must charge at least $1.25 to breakeven
Sub: MANAGEMENT-2
Function

Topic: Marketing

Price
The price of your product or service tells
the customer a lot about your product

2000 Rs.

Sub: MANAGEMENT-2
Function

5000 Rs.

Topic: Marketing

Price
Different Pricing Strategies
Competition basing your prices on those
of the competition

Penetration making your price low while

new just to get some business

Bundle putting the product/service with

another item and bundling the prices

Psychological making the price say

something about the quality of your product
Sub: MANAGEMENT-2
Function

Topic: Marketing

Place
Simply refers to how & where you are going to
sell the product to the consumer
Direct Distribution selling your product
directly to the consumer
Brick & Mortar vs. Virtual Store
Indirect Distribution sold through a 3rd party
What retailers are the best for reaching your
Target Market?
Example: Selling protein powder where do I
sell?
Sub: MANAGEMENT-2
Function

Topic: Marketing

Place
For a service : where are you going to locate
in order to best reach your target market
You want to be in an area that
your target market frequents
Says something about your business
Notice how car dealerships are
always on the outskirts of
town or close to a highway?

Brantford Commons
Sub: MANAGEMENT-2
Function

Topic: Marketing

Promotion
A successful product or service means
nothing unless the benefit of that
product/service can be communicated to
the Target Market
There are many ways to get the word
out
How many can we think of...
Sub: MANAGEMENT-2
Function

Topic: Marketing

Promotion

Public
Relations

Advertising
Buzz

Sales
Sub: MANAGEMENT-2
Function

Topic: Marketing

Different Concept of
Marketing

The marketing concept has

suffered in two ways:

First, it has been established as optimal

management philosophy when it is not
necessarily so in all instances

Second, we can see many examples of

poor marketing practice that have been
adopted in the name of the marketing
concept.
Sub: MANAGEMENT-2
Function

Topic: Marketing

Different Concept of
Marketing
The marketing
concept
Customer focus
Profits
Integration of organizational
efforts.
Sub: MANAGEMENT-2
Function

Topic: Marketing

Different Concept of
Marketing
Customer orientation
Satisfying its customers at a profit
Determining the needs and wants of
target markets
Discovering the wants of a target
audience and then creating the goods
and services to satisfy them

Sub: MANAGEMENT-2
Function

Topic: Marketing

Different Concepts of
Marketing
Many Things Can Be Marketed!

Goods
Services
Experiences
Events
Persons

Sub: MANAGEMENT-2
Function

Places
Properties
Organizations
Information
Ideas
Topic: Marketing

Different Marketing Concept

Core Marketing Concepts
Needs,
wants, and
demands
Marketing
offers:
including
products,
services and
MANAGEMENT-2
experiences

Sub:
Function

Value and
satisfaction
Exchange,
transactions
and
relationships
Markets
Topic: Marketing

Different Marketing Concept

Management Orientations

Production
Selling
concept
concept
Product
Marketing
Holistic Marketing concept
concept
concept
Societal Marketing concept
Sub: MANAGEMENT-2
Function

Topic: Marketing

PRODUCTION CONCEPT

A firm focusing on a production orientation

specializes in producing as much as possible
of a given product or service.
Thus, this signifies a firm exploiting
economies of scale until the minimum
efficient scale is reached.
A production orientation may be deployed
when a high demand for a product or
service exists, coupled with a good certainty
that consumer tastes will not rapidly alter
Sub:
MANAGEMENT-2
Topic: Marketing
(similar
to the sales orientation).
Function

PRODUCT CONCEPT
A firm employing a product orientation is
chiefly concerned with the quality of its own
product.

A firm would also assume that as long as its

product was of a high standard, people
would buy and consume the product.

Sub: MANAGEMENT-2
Function

Topic: Marketing

SELLING CONCEPT

A firm using a sales orientation focuses

primarily on the selling/promotion of a
particular product, and not determining new
consumer desires as such. Consequently,
this entails simply selling an already existing
product, and using promotion techniques to
attain the highest sales possible.
Such an orientation may suit scenarios in
which a firm holds dead stock, or otherwise
sells a product that is in high demand, with
little likelihood of changes in consumer
Sub:
MANAGEMENT-2
Marketing
tastes
that would diminish Topic:
demand.
Function

TheMARKETING
'marketing orientation'
is perhaps
CONCEPT
the most common orientation used in
contemporary marketing.
It involves a firm essentially basing its
marketing plans around the marketing
concept, and thus supplying products to suit
new consumer tastes.
E.g. a firm would employ market research
to gauge consumer desires , use R&D to
develop a product attuned to the revealed
information, and then utilize promotion
Sub:
MANAGEMENT-2
Topic: Marketing
techniques
to ensure persons
know the
Function
product exists.

CONCEPT
The HOLISTIC
holistic marketing concept looks at
marketing as a complex activity and
acknowledges that everything matters in
marketing - and that a broad and integrated
perspective is necessary in developing,
designing and implementing marketing
programs and activities.
The four components that characterize
holistic
marketing
are
relationship
marketing, internal marketing, integrated
marketing,
and
socially
responsive
marketing.

Sub: MANAGEMENT-2
Function

Topic: Marketing

SOCIETAL CONCEPT

Societal marketing emerged in the 1960s.

The societal marketing concept deals with
the needs, wants and demands of
customers: how to satisfy them by
producing superior value that should satisfy
the customers and promote the well-being
of society.
The producer should not produce products
deemed hazardous to society.
Societal
marketing developed
Sub:
MANAGEMENT-2
Topic:into
Marketing
Function
sustainable marketing.

REFERENCES
Books:1.Management-2
Second
Edition
by
Publication
2.Management-2
By Mahajan Publication

Web Resources:1.Google
2.Wikipedia

Pearson

ANY QUERIES???