Principle Of Marketing- Lec 2

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					        MGT301
Principles of Marketing
        Lecture-2
Summary
   of
Lecture-1
Marketing Involves having the Right Product available in the
  Right Place at the Right Time and making sure that the
  customer is Aware of the Product.
Marketing
Product                 Price




          Customers


Place                 Promotion
      Simple Marketing System


                     Communicatio
                      n
                     Product/Servi
                      ce
Producer/Seller         Money
                                      Consumer



                         Feedba
                          ck
Today’s Topics
   Road map
   Understanding Marketing and Marketing Process
   Core Marketing Concepts
                     Road Map

   Introduction-an overview of marketing.
   Understanding Marketing and Marketing Process
   Marketing Functions and Customer Relationship
    Management
   Marketing in Historical perspective and Evolution of Marketing
   Marketing Challenges in the 21st century
   Marketing Management Process
   Marketing Management Process (cont….)
   Strategic Planning and Marketing Process
   The Marketing process
   The Marketing process (cont…)
   Marketing Environment (Micro)
   Marketing Environment (Macro)
   Analyzing Marketing opportunities and developing strategies-
    MIS
   Marketing Research
   Consumer Market-understanding the consumer
   Consumer Markets and consumer buying behavior
   Consumer Markets and consumer buying behavior (cont…)
   Buying Behaviors for New Products and services
   Business Buying Behavior
   Business Buying Behavior (cont..)
   Market segmentation
   Market segmentation (cont..)
   Developing the Marketing Mix--- 4 P’s
   Product Planning
   Product Planning (cont..)
   Product Planning (cont..)
   Service Strategy
   Pricing
   Pricing Strategies
   Price Adjustment and Price Changes
   Distribution Channels
   Distribution Channels (cont..)
   Logistics Management
   Retailing and wholesaling
   Promotion Planning
   Advertising
   Public Relations
   Personal Selling
   Sales Promotion
   Sales Force Management
   Integrating and analyzing the marketing plan
   Global Marketing
   Technological developments and Marketing
   Web base Marketing
   Social Marketing
   Social, Ethical and Consumer issues
   Review
   Marketing in a Glance
             Actors and Forces in a
            Modern Marketing System

                Environment


               Company
              (marketer)
                           Marketing   End-user
Suppliers                   inter-      market
                           mediaries

             Competitors
      Simple Marketing System


                  Communication

                  Product/Service
Producer/Seller     Money           Consumer



                    Feedback
    Simple Questions, Hard Answers


Who are our customers?

What important & unique benefits do we provide?

Are these benefits sustainable?
Process by which individuals and groups obtain what they need
 and want through creating and exchanging products and value
 with others.
More simply:
Marketing is the delivery of customer satisfaction at a profit.
Product                 Price




          Customers


Place                 Promotion
Marketing is a social and managerial process by which individuals
 and groups obtain what they need and want through creating,
 offering and exchanging products of value with others.
                                Kotler 1994
Core Marketing Concepts
  Core




                        satisfaction,
                         and quality
Marketing




                           Value,
Concepts


        Exchange,
      transactions,
    and relationships
   Needs
    ‘...a state of felt deprivation’

   Wants
    needs ‘...shaped by culture and individual personality’

   Demands
    wants ‘...backed by purchasing power’
  Core




                        satisfaction,
                         and quality
Marketing




                           Value,
Concepts


        Exchange,
      transactions,
    and relationships
                    A Product is....

‘...anything that can be offered to a market for attention,
   acquisition, use or consumption and that may satisfy a need
   or want’
includes:
  – physical goods, services, people, places, organizations,
    activities, ideas etc
  Core




                        satisfaction,
                         and quality
Marketing




                           Value,
Concepts


        Exchange,
      transactions,
    and relationships
                     Exchange is...

‘...the act of obtaining a desired object from someone by
   offering something in return’
Five conditions
1. Two parties
2. Something of value to offer each other
3. Willing to deal
4. Free to accept or reject offer
5. Able to communicate and deliver
                        A transaction is...

   ‘...a trade between two parties that involves:
       at least two things of value;
       agreed upon conditions;
       a time of agreement; and
       a place of agreement’


   may be monetary or barter
  Core




                        satisfaction,
                         and quality
Marketing




                           Value,
Concepts


        Exchange,
      transactions,
    and relationships
                          A market is...

   ‘...a set of actual and potential buyers of a product’
   A place
   Marketing satisfies the needs of markets by facilitating the
    exchange process
  Core




                        satisfaction,
                         and quality
Marketing




                           Value,
Concepts


        Exchange,
      transactions,
    and relationships
Goals of the Marketing System
   Stimulate maximum consumption
   Maximize consumer satisfaction
   Maximize variety and choice
   Maximize quality of life
     Marketing Process Activities

Understand the organization’s mission

Set marketing objectives

Gather, analyze, interpret “SWOT” information

Develop a marketing strategy
Implement the marketing strategy
Design performance measures
Evaluate marketing efforts--change if needed
Summary
   Road Map
   Understanding Marketing and Marketing Process
   Core Marketing Concepts
Core Marketing Concepts
  Core




                        satisfaction,
                         and quality
Marketing




                           Value,
Concepts


        Exchange,
      transactions,
    and relationships
                       Next….

   Marketing Functions
   Customer Relationship Management
        MGT301
Principles of Marketing
        Lecture-2

				
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