Download Marketing Concepts

 Marketing
starts with
the identification of
a specific need on
part of the consumer
and ends with the
satisfaction of that
need.
 The consumer is
found both at the
beginning and the
end of the marketing
process.
Marketing
is a
total system of
interacting
business activities
designed to plan ,
promote and
distribute need
satisfying products
and services to
existing and
potential
consumers.
 Is
the process of obtaining a desired product
from some one by offering something in
return.
 At least two parties involved
 Each party has something that might be of
value to the other party
 Each party is capable of communication and
delivery
 Each party is free to accept or reject the
exchange offers
 Transaction
 Transfer
 Good
 Services
 Events
 Experiences
 Persons
 Places
 Properties
 Organizations
 Information
 Ideas
A
marketer is someone who seeks a response
( attention, a purchase, a vote, a donation)
from another party.
 The first party is Marketer
 The second party is the prospect.
 Marketing managers are responsible for
demand management
 They seek to influence the level, timing, and
composition of demand to meet the
organization’s objectives.
Negative demand
 Consumers dislike the product and may even pay a price to avoid it
Non existent demand
 Consumers may be unaware or uninterested in the product
Latent demand
 Consumers may share a strong need that cannot be satisfied by an
existing product.
Declining demand
Consumers begin to buy the product less frequently or not at all.
Irregular demand
Consumer purchases vary on a seasonal , monthly, weekly, daily, or evenly
hourly basis.
Full demand
Consumes are adequately buying all products put into the market place
Overfull demand
More consumers would like to buy the product that can be satisfied.
Unwholesome demand
Consumers may be attracted to products that have undesirable social
consequences.
 Market
is a collection of buyers and sellers
who transact over a particular product or
product class.
Consumer markets
 Companies selling mass consumer goods and
services such as
 Soft drinks, cosmetics, athletic shoes
 Much of the brand's strength depends on
developing a superior product and packaging.
Business markets
 Companies selling business gods and services
often face well trained and well informed
professional buyers who are skilled in
evaluating competitive offerings
Global Market
 Companies selling goods and services in the
global market place, these markets face
additional decisions and challenges.
 They must decide which countries to enter ,
how to enter ( as an exporter, licenser, joint
venture partner, contract or solo
manufacturer.)
Non profit and governmental markets
 Companies selling their goods to non profit
organization such as churches, universities,
charitable organizations , Govt. agencies,
 Must price their products carefully
Selling
 Starts with seller.
Seller is the centre of
activity
Marketing
• Starts with the buyer
and focuses constantly
on the needs of the
buyer.
Selling
 Emphasizes on saleable surpluses available
within the corporation
 Seeks quickly to convert products in to cash
Marketing
 Emphasis on identification of a market
opportunity seeks to convert customer ‘
needs’ into ‘Products” emphasizes on
fulfilling the needs of the customers.
Selling
 Costs determine price
Marketing
 Consumer determines price : price
determines costs
Selling
 The firm makes the product first and then
determines out how to sell it and make
profits
Marketing
 What is to be offered as product is
determined by the customer, the firm makes
the total product offering that would match
and satisfy the needs of the customers, the
product is the consequence of the marketing
efforts.
 There
are popularly 5 Ps of
Marketing
1. Product
2. Price
3. Place
4. Promotion
5. People
The
product is the total package of
benefits the customer receives when
he buys it.
Features:
 A product means more than the physical
commodity.
 People associate meaning with the products
 They derive satisfaction from the non-utility
aspects of a product as well.
 Products have an identity or a personality of
their own.
 The brand name, the package, the labeling ,
the manufacturer’s name and prestige all go
into the personality build up of the product.
 The
core or the basic constituents
 The Associated features
 The Brand name
 The Package
 The label
•Fragrance of
sandal
•Oval Shape
•Sandal Color
•Distinctions in
colors
•Shapes and sizes


A brand is defined as a
“name, term, symbol, or
design or a combination of
them which is intended to
identify the goods and
services of one seller or
groups of sellers and to
differentiate them from
those of competitors.”
A trade mark is a brand
that has been given legal
protection thus ensuring
its use exclusively by one
seller.
The package
performs two
essential roles
Gives protection
to the product
 Adding to the
aesthetic and
sales appeal of
the product- tool
to sales
promotion.

A
label provides written information about
the product
 To understand the nature of the product
 Its distinctive features
 Its composition ,
 Its performance
A group of
related
products
constitutes a
product
Line.
It is the
complete set
of all products
offered for
sale by a
company.
 What
are policies of pricing?
 Levels of prices
 Levels of margins
 Discounts and rebates
 Payments terms
 Terms of delivery
 Installments facility
 Credit terms
Channels of Distribution
 Types of intermediaries
 Channel design
 Location of outlets
 Channel remuneration
 Dealer-principal relationship
 Physical distribution
 Transportation
 Warehousing
 Inventory levels
 Order processing

 Personal
Selling
 Advertizing
 Sales promotion efforts
 Public relations
Target Audience
 Segmentation
 Customer variables
1. No. of customers
2. Location
3. Purchasing power
4. Buying behavior
5. Habits of purchase
6. Personality traits
7. Lifestyle
8. Brand awareness
