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INTRODUCTION TO MARKETING
MANAGEMENT
Prof. Deepak R. Gupta
Mail: [email protected]
FUNCTIONAL AREAS OF
MANAGEMENT
FUNCTIONAL
AREAS OF
MGMT
FINANCE
HR
IT
MARKETING
Prof. Deepak R. Gupta
PRODUCTION
LOGISTICS
INTRODUCTION TO MARKETING
• Marketing is the key function of management.
• Marketing is the business function which deals with customers.
• Marketing is responsible for generating revenue & contributing directly
towards growth of the organization.
• Marketing covers advertising, promotions, public relations, and sales.
• Finance, operation, accounting & other function will not really matter if
there is not sufficient demand for products & services.
Prof. Deepak R. Gupta
Promotion
WHAT IS
MARKETING?
Prof. Deepak R. Gupta
INTRODUCTION TO MARKETING
A Philosophy
A Set of Activities:
An Attitude
Products
A Perspective
Pricing
A Management Orientation
Promotion
Distribution / Place
Prof. Deepak R. Gupta
LAYS UNDERSTANDING CUSTOMERS
NEED
Prof. Deepak R. Gupta
NEEDS
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It is a fundamental concept underlying all marketing activities.
What are customer needs & wants?
A need is a basic requirement that an individual wishes to satisfy.
A need is something that is necessary for organisms to live a healthy life.
- Wikipedia
• People have basic needs for food, water, shelter, affection, self –
development.
Prof. Deepak R. Gupta
WANTS
• Customer wants are narrow.
• A want is a desire for a specific product or service to satisfy underlying
need.
• Customers need to eat when they are hungry.
• What they want to eat & in what kind of environment will vary
enormously.
• Consumer wants are shaped up by social & cultural forces, the media &
marketing activities of business.
• This leads to another important concept – customer demand.
Prof. Deepak R. Gupta
NEEDS AND WANTS
If you want to feel fresh in the evening time we would prefer different
beverages for the same need…
Prof. Deepak R. Gupta
NEED – TO FEEL FRESH
Prof. Deepak R. Gupta
DEMAND
• Customer demand is a want for specific product supported by:
– Desire
– Ability to Purchase
– Willingness to pay for it.
• Business therefore have not only to make products that consumer wants,
but they also have to make them affordable to a sufficient number to
create profitable demand.
• Business also tries to communicate the relevant feature of their products
through advertising at other marketing promotions.
Prof. Deepak R. Gupta
WHAT IS DEMAND?
“Demand means effective desire or need for a commodity which is
backed up by the ability (purchasing power) to pay for it and
willingness to buy”.
• Demand for commodity implies:
– Desire
– Willingness
– Purchasing power
Prof. Deepak R. Gupta
EXAMPLE
• Need : Transportation – the MBA student has to reach college in time.
Buses are not dependable.
• Want : The students wants a motorcycle, which looks grand, has many
latest features & is dependable.
• Demand : Purchasing power is provided by the student’s parents, who
has the willingness to buy the bike, which their ward wants.
Prof. Deepak R. Gupta
CORE CONCEPTS
Prof. Deepak R. Gupta
MARKETING DEFINITION
Social Definition
Marketing is a societal process by which individuals and groups
obtain what they need and want through creating, offering and
freely exchanging products and services of value with others
AMA Definition
Marketing is the process of planning and executing the
conception, pricing, promotion and distribution of ideas, goods
and services to create exchanges that satisfy individual and
organizational goals.
Prof. Deepak R. Gupta
MARKETING DEFINITION
KOTLER
Marketing Management is the Art and Science of choosing target
markets and getting, keeping and growing customers through
creating, delivering and communicating superior customer value.
Prof. Deepak R. Gupta
Simply put
Marketing is the delivery of customer satisfaction at a
profit.
Goals
Attract new customers by promising superior value and
keep and grow current customers by delivering
satisfaction.
Prof. Deepak R. Gupta
TYPES OF OFFERINGS
Power of 10
Prof. Deepak R. Gupta
TYPES OF OFFERINGS
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Products - Nirma
Services – Dr. Batra
Experiences - Disneyland
Events – iifa, ipl
Properties – Rustomjee, Hiranandani
Organisations – Bajaj, Airtel
Information – News Paper, Encyclopedia
Ideas – Art of Living, Yoga
Persons - Celebrity
Places – Kerala “God’s Own Country”
Prof. Deepak R. Gupta
PRODUCTS AND SERVICES
• Goods - things you can touch - “tangible”
• Services - things you can’t touch - but you can see their effect
“intangible”

PRODUCTS
 touch
 see
 taste
 Smell
•Product Example
•Soap
•Car
•Mobile
•Books

SERVICES
 can’t see
 can’t touch
 can’t smell
 can’t taste
•Service Example
•Haircuts
•Tuition
•Courier Services
•Office Cleaning Services
Prof. Deepak R. Gupta
•Delivering Fresh Flowers
Marketing MCQ
• You have learned from experience as well as from this course
that the most basic concept underlying marketing is that of
_____.
1.
2.
3.
4.
selling and advertising
customer satisfaction
retaining customers
human needs
Prof. Deepak R. Gupta
Marketing MCQ
• As a new assistant marketing manager trainee, you learn in an
orientation meeting that _____ are the form human needs take
as they are shaped by culture and individual personality.
1.
2.
3.
4.
wants
demands
self concepts
desires
Prof. Deepak R. Gupta
Marketing MCQ
• Greg Williams now has the buying power to purchase the
computer system he has wanted for the last six months. Greg’s
want now has become a _____.
1.
2.
3.
4.
need
necessity
demand
none of the above
Prof. Deepak R. Gupta
CONCLUSION
WHY STUDY MARKETING?
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Plays an important role in society
Vital to business survival, profits and growth
Offers career opportunities
Affects your life every day
Prof. Deepak R. Gupta
THANK YOU
Prof. Deepak R. Gupta