Download WHAT IS MARKETING ?

WHAT IS MARKETING ?
Marketing is the basic function of all business firms. The
organization starts marketing before the production of goods
and it continues after the sales, which is known as after sales
service.
As per Philip Kotler, “ Marketing is social and managerial
process by which individuals and groups obtain what they need
and want through creating and exchanging products and value
with others”.
NATURE OF MARKETING
1. Marketing is consumer oriented.
 2. Marketing is a system.
 3. Exchange process is the essence of marketing
 4. Marketing is goal oriented.
 5. It is dynamic in nature.
 6. It is an integrated model.
 7. It relates to selling goods and services.
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BENEFITS OF MARKETING
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1. It helps in decision making.
2. It recognize the fact that ‘customer is king’.
3. It makes the firm more adaptive towards the
external factor.
4. It helps in earning profit.
5. It makes firm competitive in nature.
6. It increases the std of living of people by providing
them with wide variety of goods & services.
7. Marketing makes the customer , increase their
knowledge, make them more responsible.
DIFFERENCE BETWEEN SELLING &
MARKETING
SELLING
MARKETING
1. Selling involves around the needs &
interest of sellers.
1. Marketing revolves around the needs &
interest of buyers.
2. Selling concerns existing products & its
undertakes the task of pushing the sale of
existing product.
2. Marketing concerns customers & it
undertakes the task of identifying market
needs and converting customer’s need into
products.
3. Selling seeks profit by pushing the
existing products on customers.
3. Marketing seeks profit by making the org
to select product, price & method of
distribution and promotion to satisfy
customer’s need.
4. In selling the firm makes the product first 4. In marketing the firm first identifies
and then decides how to sell it to make profit customer’s need & then manufacture the
product which customer buys for their own
interest.
5. In selling costs determine price.
5. In marketing price determined cost.
ELEMENTS OF MARKETING MIX (4 P’s)
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1. PRODUCT ( Quality , Features & Reputation )
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2. PRICE ( List Price, Discount, Allowances, Credit facility)
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3. PROMOTION ( Ad, personal selling, sales promotions,
packaging )
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4. PLACE ( physical distribution, transportation, storage)
The BCG Growth-Share Matrix
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The BCG Growth-Share Matrix is a portfolio planning model
developed by Bruce Henderson of the Boston Consulting Group in the
early 1970's. It is based on the observation that a company's business
units can be classified into four categories based on combinations of
market growth and market share relative to the largest competitor,
hence the name "growth-share". Market growth serves as a proxy for
industry attractiveness, and relative market share serves as a proxy for
competitive advantage. The growth-share matrix thus maps the
business unit positions within these two important determinants of
profitability.
MARKETING ENVIRONMENTS
Marketing environments can be classified into
two ways :
1.
MACRO ENVIRONMENT.
2.
MICRO
ENVIRONMENT.
MACRO ENVIRONMENT
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1. ECONOMIC ENVIRONMENT.
2. GOVERNMENT ENVIRONMENT.
3. LEGAL ENVIRONMENT.
4. TECHNOLOGICAL ENVIRONMENT.
5. POLITICAL ENVIRONMENT.
6. SOCIAL ENVIRONMENT.
7. GEOGRAPHICAL ENVIRONMENT.
8. INTERNATIONAL ENVIRONMENT.
MICRO ENVIRONMENT
1. MARKET FACTOR.
 2. COMPETITION FACTOR.
 3. SUPPLIERS FACTOR.
 4. SUBSTITUTE FACTOR.
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