Understanding Marketing Management Module -1

Instructor: Ms. Deepali A Chopra

Concepts of Marketing
Need Want Demand Exchange Transaction Market Value Satisfaction Offering Brand Segmentation Targeting Positioning

Maslows Need Hierarchy

---- Contd.
Marketing Channels
Communication Channel Distribution Channel

Competition
Industry Competition Product Competition

Marketing Environment
Internal External

Importance of Marketing
Liberalization Globalization Growing Competition Short lived customer memory

Scope of Marketing
Goods Services Events Experiences Persons Places Properties Organizations Information Ideas

Marketing Defined
Process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individuals and organizational objectives.

OLD View of Marketing: Making a Sale Telling & Selling

New View of Marketing: Satisfying customer needs

The Marketing Process

Understand the marketplace and customer needs and wants. Design a customer-driven marketing strategy. Construct a marketing program that delivers superior value. Build profitable relationships and create customer delight. Capture value from customers to create profits and customer quality.

Marketing orientations
Production Concept Product Concept Selling Concept Marketing Concept Holistic Marketing Concept

Holistic Marketing Concept

Internal marketing Integrated marketing Relationship marketing Social marketing

Traditional Vs Modern Marketing

Customers
Top Mgmt Middle Mgmt Front Line People Customers Front Line People

Middle Mgmt
Top Mgmt

Societal Marketing Concept

Changing Business Practices

Changing Technology Globalization Deregulation Privatization Customer Empowerment Customization Heightened Competition Industry Convergence Retail Transformation Disintermediation

Marketing Management Tasks

Developing marketing strategies and plans Capturing marketing insights Connecting with customers Building strong brands Shaping the market offerings Delivering value Communicating value Creating long term growth