Uploaded byBaluJagadish1
PPTX, PDF258 views

An Introduction into Marketing Module 1 Slides

This document provides an introduction to marketing. It defines marketing as meeting needs profitably and discusses how marketing is a basic function of all businesses. Traditionally, small businesses did not prioritize marketing but it is now seen as important as other functions. The document also discusses how marketing has shifted from a product orientation to a customer orientation. It provides definitions of marketing from various sources and discusses the scope of marketing, including what can be marketed and who engages in marketing activities.

Embed presentation

Download to read offline
Module 1: An Introduction to Marketing
TABLEOFCONTENT Defining Marketing, Core concepts of Marketing, Scope of Marketing, Company Orientation towards the Marketplace, Marketing Management Tasks, The New Marketing Realities
Marketing Management 3 Marketing deals with identifying and meeting human and social needs. One of the shortest definitions of marketing is ―meeting needs profitably‖. The objective of all business enterprises is to satisfy the needs and wants of the society. Marketing is, therefore, a basic function of all business firms. When a salesperson sells washing machines, a doctor treats a patient or a Government asks people to take their children for getting polio drops, each is marketing something to the targets.
Traditionally, small firm owners did not give as much importance to marketing as to other functions such as accountancy, production and selling. Training programmes, enterprise development and the current thrust for competitiveness have now given high priority to promoting marketing awareness among small business owners, and marketing is now assuming its rightful place along with other business functions. Marketing Management
Since early 1990s there has been a change in the thinking of businessman from product orientation to consumer orientation. Modern business concerns lay emphasis on ‗selling satisfaction‘ and not merely on selling products. The activities have to be coordinated so as to develop the marketing mix, which provides maximum satisfaction to the customers. That is why marketing research and product planning occupy an important role in marketing. The other important functions of marketing include: buying and assembling, selling, standardization, packing, storing, transportation, promotion, pricing and risk bearing. Thus, the scope of marketing is very wide and no more restricted to merely selling of products. Marketing Management
Meaning and Definition of Marketing The concept of marketing can be viewed from social and managerial perspectives. So Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. At its simplest, marketing can be defined as exchange transactions that take place between the buyer and the seller. Marketing is the management function, which organizes and directs all those business activities involved in assessing and converting customer purchasing power into effective demand.
Meaning and Definition of Marketing The American Marketing Association offers the following formal definition: Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders. Philip Kotler defines marketing as ― a social 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
Meaning and Definition of Marketing In essence, the marketing concept is customer orientation aimed at generating customer-satisfaction through integrated marketing. Marketing may be narrowly defined as a process by which goods and services are exchanged and the values determined in terms of money prices. That means marketing includes all those activities carried on to transfer the goods from the manufacturers or producers to the consumers.
Marketing is more than a mere physical process of distributing goods and services. It is the process of discovering and translating consumer wants into products and services. It begins with the customer (by finding their needs) and ends with the customer (by satisfying their needs). Meaning and Definition of Marketing
The components of marketing concept are as under: a. Satisfaction of Customers: In the modern era, the customer is the focus of the organization. The organization should aim at producing those goods and services, which will lead to satisfaction of customers. b. Integrated marketing: The functions of production, finance and marketing should be integrated to satisfy the needs and expectations of customers. c. Profitable sales volume: Marketing is successful only when it is capable of maximizing profitable sales and achieves long- run customer satisfaction. Meaning and Definition of Marketing
So, ―Marketing is the performance of business activities that directs the flow of goods and services from producer to consumer or user.‖ This definition is undoubtedly an improvement on describing marketing as selling as it shows that marketing does encompass other activities besides selling. Meaning and Definition of Marketing
THE VALUE OFMARKETING
THE VALUE OFMARKETING • Marketing ability helps to • create sufficient demand for products and services, which is essential for a firm’s financial success, • create jobs and • provide resources for firms to engage is socially responsible activities. • build strong brands and a loyal customer base, intangible assets that contribute heavily to the value of a firm Jobs Profits Giving
THE VALUE OFMARKETING Marketing DecisionMaking • Marketers helps make major business decision • Marketers must make decision on features, prices, and markets and decide how much to spend on advertising, sales, and online and mobile marketing in an environment where consumers, competition, technology, and economic forces change rapidly and consequences quickly multiply. Major Business Decision Target Market Product Features Product Prices Product Promotion Product Distribution
THE VALUE OFMARKETING Marketing DecisionMaking • Marketers that fail to carefully monitor their customers and competitors, continuously improve their value offerings and marketing strategies, or satisfy their employees, stockholders, suppliers, and channel partners in the process are more vulnerable to competitive entry. Wrong Marketing Decision Vulnerable to competitive entry
THE VALUE OFMARKETING Marketing DecisionMaking • Marketers helps organization adapt and thrive in the changing environment • Marketers adapt, for example, including the use of web-only and social media campaigns in their marketing mixes, to thrive in the changing environment. Good Marketers Help organization thrive in the changing environment
THE VALUEOFMARKETING VideoTime– “MarketingisaboutValue” He's Steve Jobs and here's his #9 rule for success - Marketing is about Values. https://www.youtube.com/watch?v=OcFnKdAu21o
THE SCOPE OFMARKETING
THE SCOPE OFMARKETING What isMarketing • Marketing is about identifying and meeting human and social needs • “Meeting needs profitably.” American Marketing Association definition: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
THE SCOPE OFMARKETING What isMarketing Management? Marketing Management is the art and science • 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 Choosing Target Market Creating Value Delivering Value Communicating Value
THE SCOPE OFMARKETING What isMarketing Management? • Social definition of marketing: 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
THE SCOPE OFMARKETING What isMarketing Management? • Selling is not the most important part of marketing; aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Selling is not the most important part of marketing Marketing it to know and understand the customers to give what they want
THE SCOPE OFMARKETING What isMarketed? Goods: physical goods include food products, cars, refrigerators, televisions, machines, and other mainstays of a modern economy. Services: represent approximately 2/3 of the U.S. economy, including airlines, hotels, maintenance and repair people, and accountants, bankers, doctors, and management consultants. Events: include time-based events, global and local events Experiences: marketers orchestrate several services and goods to create, stage, and market experiences. Persons: include artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals often get help from marketers, and each person has been advised to become a “brand.”
THE SCOPE OFMARKETING What isMarketed? Places: include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies. Properties: intangible rights of ownership to either real property (real estate) or financial property (stocks and bonds). Organizations: include museums, performing arts organizations, corporations, and nonprofits that use marketing to boost their public images and compete for audiences and funds. Information: what books, schools, and universities produce, market, and distribute at a price to parents, students, and communities. Ideas: every market offering includes a basic idea. Products and services are platforms for delivering some idea or benefit.
THE SCOPE OFMARKETING Who Markets? • A marketer is someone who seeks a response—attention, a purchase, a vote, a donation—from another party, called the prospect. A marketer The prospect A marketer seeks respond such attention, a purchase, a vote, a donation from the prospect
THE SCOPE OFMARKETING Who Markets? Marketer Prospect Attention Purchase Donation Vote Response
THE SCOPE OFMARKETING Who Markets? • Marketers are skilled at stimulating demand for their products, but they also seek to influence the level, timing, and composition of demand to meet the organization’s objectives. • Eight demand states are possible: Negative demand—Consumers dislike the product and may even payto avoid it. Nonexistent demand—Consumers may be unaware of 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 even hourly basis. Full demand—Consumers are adequately buying all products put into the marketplace. Overfull demand—More consumers would like to buy the product than can be satisfied. Unwholesome demand—Consumers may be attracted to products that have
THE SCOPE OFMARKETING Who Markets? • A market is a collection of buyers and sellers who transact over a particular product or product class (such as the housing market or the grain market).
THE SCOPE OFMARKETING Who Markets? Key customer markets include: • Consumer Markets typically establish a strong brand image by developing a superior product or service, ensuring its availability, and Nonprofit backing it with engaging communications and reliable performance. • Business Markets typically have a strong emphasis on the sales force, the price, and the seller’s reputation. Key Customer Markets Consumer Markets Business Markets Global Markets and Governmental Markets
THE SCOPE OFMARKETING Who Markets? Key customer markets include: • Global Markets require companies to navigate cultural, language, legal, and political differences as they make marketing decisions. Nonprofit • Nonprofit and Governmental Markets include churches, universities, charitable organizations, and government agencies. Key Customer Markets Consumer Markets Business Markets Global Markets Non Profit and Government al Markets
CORE MARKETING CONCEPTS
CORE MARKETING CONCEPTS Needs, Wants, and Demands • Marketers do not create needs • Needs pre-exist marketers. Needs = basic human requirements Wants = when needs are directed to specific objects that might satisfy the need Demands = wants for specific products backed by an ability to pay
CORE MARKETING CONCEPTS Needs, Wants, and Demands • Five types of needs: • Stated needs • Real needs • Unstated needs • Delight needs • Secret needs Five types of needs Stated needs Real needs Unstated needs Deligh t needs Secret needs
CORE MARKETING CONCEPTS Target Markets, Positioning and Segmentation • For each target market, the firm develops a market offering that it positions in target buyers’ minds as delivering some key benefit(s). Segmentation: identification of distinct segments of buyers by identifying demographic, psychographic, and behavioral differences between them. Target markets:the segment(s) present the greatest opportunities.
CORE MARKETING CONCEPTS Offerings and Brands A value proposition is a set of benefits that satisfy a consumer’s needs. The intangible value proposition is made physical by an offering, which can be a combination of products, services, information, and experiences. A brand is an offering from a known source. All companies strive to build a brand image with as many strong, favorable, and unique brand associations as possible.
CORE MARKETING CONCEPTS Marketing Channels Communication channels deliver and receive messages from target buyers Distribution channels help display, sell, or deliver the physical product or service(s) to the buyer or user Service channels include warehouses, transportation companies, banks, and insurance companies
CORE MARKETINGCONCEPTS Impressions andEngagement Impressions occur when consumers view a communication Engagement is the extent of a customer’s attention and active involvement with a communication • Marketers now think of three “screens” or means to reach consumers: TV, Internet, and mobile.
CORE MARKETING CONCEPTS Value and Satisfaction Value is primarily a combination of quality, service, and price, called the customer value triad. Value perceptions increase with quality and service but decrease with price. Satisfaction reflects a person’s judgment of a product’s perceived performance in relationship to expectations.
CORE MARKETINGCONCEPTS • Each company in the chain captures only a certain percentage of the total value generated by the supply chain’s value delivery system. When a company acquires competitors or expands upstream or downstream, its aim is to capture a higher percentage of supply chain value. SupplyChain The supply chain is a channel stretching from raw materials to components to finished products carried to final buyers.
CORE MARKETINGCONCEPTS Competition includes all the actual and potential rival offerings and substitutes a buyer might consider.
CORE MARKETINGCONCEPTS MarketingEnvironment Task environment includes the actors engaged in producing, distributing, and promoting the offering. Broad environment consists of six components: demographic environment, economic environment, social-cultural environment, natural environment, technological environment, and political-legal environment
THE NEW MARKETING REALITIES
THE NEW MARKETINGREALITIES Technology • Widespread technology adoption has created: new opportunities promotes shared information customer relationship management
THE NEW MARKETINGREALITIES Globalization • Transportation, shipping, and communication technologies have made it easier for us to know the rest of the world, to travel, to buy and sell anywhere. • Globalization has made countries increasingly multicultural. • Globalization changes innovation and product development as companies take ideas and lessons from one country and apply them to another.
THE NEW MARKETING REALITIES New Company Capabilities Major Societal Forces Information Technology Globalization Increased Competition Consumer Information Communicate w/Customer Collect Information New Opportunities
THE NEW MARKETINGREALITIES VideoTime– “TheGigEconomy” • With the push of a button, apps let us summon services, from taxis to takeaways, to our location. But do they make the world more efficient? In an FT investigation, Izabella Kaminska reveals how the gig economy is being powered by poor working conditions
SOCIALRESPONSIBILITY
SOCIALRESPONSIBILITY PrivateSector • The private sector is taking some responsibility for improving living conditions, and firms all over the world have elevated the role of corporate social responsibility.
SOCIALRESPONSIBILITY Marketing3.0 • Marketing 3.0 suggests three central trends that change the way companies do business: increased consumer participation and collaborative marketing globalization the rise of a creative society
SOCIALRESPONSIBILITY PreservingLongTermWellBeing • The organization’s task is to determine the needs, wants, and interests of target markets and satisfy them more effectively and efficiently than competitors while preserving or enhancing consumers’ and society’s long- term well-being. Effective Marketing Strategy While being Socially Responsible
SOCIALRESPONSIBILITY Benefits • Companies may incorporate social responsibility as a way: Todifferentiate themselves from competitors, Tobuild consumer preference Toachieve notable sales and profit gains.
A DRAMATICALLYCHANGED MARKETPLACE
A DRAMATICALLYCHANGEDMARKETPLACE New ConsumerCapabilities Consumers are empowered through technology, like social media, and by expanded information, communication and mobility. Consumers can use the Internet as a powerful information and purchasing aid. Consumers can search, communicate, and purchase on the move. Consumers can tap into social media to share opinions and express loyalty. Consumers can actively interact with companies. Consumers can reject marketing they find inappropriate.
A DRAMATICALLYCHANGEDMARKETPLACE New CompaniesCapabilities Companies can use the Internet as a powerful information and sales channel, including for individually differentiated goods. Companies can collect fuller and richer information about markets, customers, prospects, and competitors. Companies can reach customers quickly and efficiently via social media and mobile marketing, sending targeted ads, coupons, and information. Companies can improve purchasing, recruiting, training, and internal and external communications. Companies can improve cost efficiency.
A DRAMATICALLYCHANGEDMARKETPLACE ChangingChannels • Retail transformation: increased competition from a variety of formats has yielded more entertaining retail experiences. • Disintermediation: delivery of products and services by intervening in the traditional flow of goods.
A DRAMATICALLYCHANGEDMARKETPLACE HeightenedCompetition • Private labels: Powerful retailers market their own store brands, increasingly indistinguishable from any other type of brand. • Mega-brands: Many strong brands have become mega-brands and extended into related product categories, including new opportunities at the intersection of two or more industries.
A DRAMATICALLYCHANGEDMARKETPLACE HeightenedCompetition • Deregulation: Many countries have deregulated industries to create greater competition and growth opportunities. In the United States, laws restricting financial services, telecommunications, and electric utilities have all been loosened in the spirit of greater competition. • Privatization: Many countries have converted public companies to private ownership and management to increase their efficiency.
A DRAMATICALLYCHANGEDMARKETPLACE MarketingBalance • Companies must always move forward (incorporate the Internet and digital efforts into marketing plans), innovating products and services, staying in touch with customer needs, and seeking new advantages rather than relying on past strengths. Move forward, innovating products and services, staying in touch with customer needs and seeking new opportunity Past successes and strengths
A DRAMATICALLYCHANGEDMARKETPLACE MarketingAccountability • Marketers are increasingly asked to justify their investments in financial and profitability terms, as well as in terms of building the brand and growing the customer base.
A DRAMATICALLYCHANGEDMARKETPLACE Marketing in theOrganization • Every employee has an impact on the customer, so marketers now must properly manage all possible touch points: • store layouts • package designs • product functions • employee training • shipping and logistics Store Layouts Package Designs Product Functions Employee Training Shipping And Logistics
A DRAMATICALLYCHANGEDMARKETPLACE VideoTime–“Retail'sFuture:Brick-and-Mortarvs.E-Commerce” Joe Gromek, former chairman at Tumi and former chief executive officer at Warnaco, discusses the retail shift to online shopping.
COMPANY ORIENTATION TOWARD THE MARKETPLACE
COMPANYORIENTATIONTOWARDTHEMARKETPLACE • Company orientation • Production • Product • Selling • Marketing Company Orientation Production Product Selling Marketing
COMPANYORIENTATIONTOWARDTHEMARKETPLACE The ProductionConcept • Suggests consumers prefer products that are widely available and inexpensive. Company Orientation Production Product Selling Marketing
COMPANYORIENTATIONTOWARDTHEMARKETPLACE The ProductionConcept • With production concept, management aims for • high production efficiency • low costs • mass distribution Management aims for High Production Efficiency LowCosts Mass Distribution
COMPANYORIENTATIONTOWARDTHEMARKETPLACE The ProductConcept • Consumers favor products offering the most quality, performance, or innovative features Company Orientation Production Product Selling Marketing
COMPANYORIENTATIONTOWARDTHEMARKETPLACE The ProductConcept • Managers may commit the “better- mousetrap” fallacy, believing a better product will by itself lead people to beat a path to their door. Better product Better sales
COMPANYORIENTATIONTOWARDTHEMARKETPLACE The SellingConcept • Consumers and businesses, if left alone, won’t buy enough of the organization’s products Company Orientation Production Product Selling Marketing
COMPANYORIENTATIONTOWARDTHEMARKETPLACE The SellingConcept • It is practiced most aggressively with unsought goods—goods buyers don’t normally think of buying such as insurance and cemetery plots—and when firms with overcapacity aim to sell what they make, rather than make what the market wants.
COMPANYORIENTATIONTOWARDTHEMARKETPLACE The MarketingConcept • Find the right products for your customers Company Orientation Production Product Selling Marketing
COMPANYORIENTATIONTOWARDTHEMARKETPLACE The MarketingConcept • The marketing concept holds that the key to achieving organizational goals is being more effective than competitors in creating, delivering, and communicating superior customer value to your target markets.
COMPANYORIENTATIONTOWARDTHEMARKETPLACE TheHolisticMarketingConcept • Based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
COMPANYORIENTATIONTOWARDTHEMARKETPLACE TheHolisticMarketingConcept • Everything matters in marketing—and that a broad, integrated perspective is often necessary. Below is a schematic overview of four broad components characterizing holistic marketing: relationship marketing, integrated marketing, internal marketing, and performance marketing.
COMPANYORIENTATIONTOWARDTHEMARKETPLACE RelationshipMarketing • Aims to build mutually satisfying long- term relationships with key constituents in order to earn and retain their business. • Four key constituents for relationship marketing are: Customers Employees Marketing Partners (Channels, Suppliers, Distributors, Dealers, Agencies) Four Key Constituents For Relationship Marketing Members Of The Financial Community (Shareholders, Investors, Analysts)
COMPANYORIENTATIONTOWARDTHEMARKETPLACE RelationshipMarketing • Marketers must create prosperity among all these constituents and balance the returns to all key stakeholders. • Todevelop strong relationships with them requires understanding their capabilities and resources, needs, goals, and desires.
COMPANYORIENTATIONTOWARDTHEMARKETPLACE IntegratedMarketing •What is Integrated Marketing • Devise marketing activities and programs that create, communicate, and deliver value such that “the whole is greater than the sum of its parts.”
COMPANYORIENTATIONTOWARDTHEMARKETPLACE IntegratedMarketing • Two key themes of integrated marketing are that • many different marketing activities can create, communicate, and deliver value and • marketers should design and implement any one marketing activity with all other activities in mind. Key Themes There aremany marketing activities Each activity is integratedwith each other
COMPANYORIENTATIONTOWARDTHEMARKETPLACE InternalMarketing • What is Internal Marketing? • The task of hiring, training, and motivating able employees who want to serve customers well.
COMPANYORIENTATIONTOWARDTHEMARKETPLACE InternalMarketing • Marketing succeeds only when all departments work together to achieve customer goals • When engineering designs the right products • When finance furnishes the right amount of funding • When purchasing buys the right materials • When production makes the right products in the right time horizon • When accounting measures profitability in the right way Internal Marketing Hiring Staff Training Staff Motivating Staff
COMPANYORIENTATIONTOWARDTHEMARKETPLACE PerformanceMarketing • What is Performance Marketing? • Requires understanding the financial and nonfinancial returns to business and society from marketing activities and programs.
COMPANYORIENTATIONTOWARDTHEMARKETPLACE PerformanceMarketing • Top marketers are increasingly going beyond sales revenue to examine the marketing scorecard and interpret what is happening to market share, customer loss rate, customer satisfaction, product quality, and other measures. • They are also considering the legal, ethical, social, and environmental effects of marketing activities and programs Marketing Scorecard Financial Accountability Environmental Impact Social Impact Legal Impact EthicalImpact
COMPANYORIENTATIONTOWARDTHEMARKETPLACE VideoTime–“RelationshipMarketing” Today’s customer is skeptical, connected and well informed. Mass marketing as we know it is gone for good. Brands need to stop talking at their customers and start seeing the world through their eyes. Using AI, technology and customer data, they need to truly know their customers, build trust and emotional connections, and create customer relationships that last. • MARK MORIN • As a customer relationship builder, Mark has devoted the past 35+ years to bringing brands and people closer. He is an author, trainer, professional speaker and an expert in the field of relationship and cognitive marketing.

More Related Content

PPTX
Chapter 1 Marketing Management
byPeleZain
 
PDF
Chapter1 Marketing Management
byZeeshan Ahmad
 
PPTX
BUSINESS MARKETING (SONG YOUTH TRAINING).pptx
byUgochiarum1
 
PDF
MM CH 1.pptx.pdf
byNigusTeshome2
 
PPTX
marketing management chapter one detailed .pptx
byaminasyco
 
PDF
Marketing management RTU notes
byAkhilesh Krishnan
 
DOC
Fundamentals of marketing notebook (1)
bykelly112
 
PPT
Introduction to marketing management and definition of marketing
bySMART LEARNING -SEE YOUR WORLD IN DIFFRENT WAY
 
Chapter 1 Marketing Management
byPeleZain
 
Chapter1 Marketing Management
byZeeshan Ahmad
 
BUSINESS MARKETING (SONG YOUTH TRAINING).pptx
byUgochiarum1
 
MM CH 1.pptx.pdf
byNigusTeshome2
 
marketing management chapter one detailed .pptx
byaminasyco
 
Marketing management RTU notes
byAkhilesh Krishnan
 
Fundamentals of marketing notebook (1)
bykelly112
 
Introduction to marketing management and definition of marketing
bySMART LEARNING -SEE YOUR WORLD IN DIFFRENT WAY
 

Similar to An Introduction into Marketing Module 1 Slides

PPTX
MODULE 1-1.pptx
byLathaLatha95
 
PPTX
Module-1.pptxititititiyiyiyiyciyiyiyiyiy8y8c8tc
bymanu636395
 
PPTX
Marketing meaning, definition and scope
bySunita Sukhija
 
DOCX
Module 1.docx
byShachiDesai2
 
PDF
Introduction to marketing
byBench Mate
 
PPTX
Marketing Management Unit 1
byAmit Sarkar
 
PPTX
Introduction to marketing management
byShalini Shetty
 
PPTX
INTRODUCTION TO MARKETING - Meaning, Importance, Types .pptx
byhacauvery
 
PDF
Marketing module_1.pdf
byShaik724049
 
PPTX
Marketing introduction
byCristina Mary Alexander
 
PDF
Introduction to marketing
byYash Patel
 
PDF
Chapter 1.pdf
byprottasha95paul
 
PDF
Introduction to marketing management-1.pdf
byOshadiVindika
 
PPTX
Introduction Of Marketing
bydeepakraja41
 
PPTX
Consolidated Unit 1 PPT MM(2024).pptx. sexual activity
byneetu29945
 
PPT
Marketing Management - BBA II Year.ppt
byPrashantMishra919139
 
PPTX
Principles of Marketing. ppt, chapter 1
byAmirChohan5
 
PPTX
MARKETING
byMANASA759282
 
PPTX
Basic marketing
bylaxmi k shankhi
 
PPTX
DEFINING MARKETING FOR THE 21ST CENTURY
byNina Yuniarsih
 
MODULE 1-1.pptx
byLathaLatha95
 
Module-1.pptxititititiyiyiyiyciyiyiyiyiy8y8c8tc
bymanu636395
 
Marketing meaning, definition and scope
bySunita Sukhija
 
Module 1.docx
byShachiDesai2
 
Introduction to marketing
byBench Mate
 
Marketing Management Unit 1
byAmit Sarkar
 
Introduction to marketing management
byShalini Shetty
 
INTRODUCTION TO MARKETING - Meaning, Importance, Types .pptx
byhacauvery
 
Marketing module_1.pdf
byShaik724049
 
Marketing introduction
byCristina Mary Alexander
 
Introduction to marketing
byYash Patel
 
Chapter 1.pdf
byprottasha95paul
 
Introduction to marketing management-1.pdf
byOshadiVindika
 
Introduction Of Marketing
bydeepakraja41
 
Consolidated Unit 1 PPT MM(2024).pptx. sexual activity
byneetu29945
 
Marketing Management - BBA II Year.ppt
byPrashantMishra919139
 
Principles of Marketing. ppt, chapter 1
byAmirChohan5
 
MARKETING
byMANASA759282
 
Basic marketing
bylaxmi k shankhi
 
DEFINING MARKETING FOR THE 21ST CENTURY
byNina Yuniarsih
 

Recently uploaded

PDF
BTP - GK 2025-4 (1) Consulting Marketing.pdf
byAyushNath13
 
PPTX
Business Improvement blue and white scribble art presentation
byAndrew Laurey
 
PDF
How To Buy, Verified Wise Account in 2026.pdf
byzze2jltsflran03jy3m
 
PDF
How to Safely Buy Instagram Accounts in 2025 (1).pdf
byxuexmv3qbymlv32ohdjf
 
PDF
How to Buy Snapchat Account( 9.7) A Step-by-Step Guide ....pdf
byndsfcm3nubx18jc4s6f4
 
PDF
Bio, Pic and Speaker Vita for Attorney Dar'shun Kendrick
byKairos Capital Legal Advisors,LLC
 
PDF
Back to the future - the return of DB surpluses (slides) - 9 December 2025.pdf
byHenry Tapper
 
PPT
web-security-12157\jh,kl;pkkk;lkhiuguyh.ppt
bymonirujjamannahid12
 
PDF
Buy Verified Western Union Accounts - in the United States (1).pdf
bykeb2bq5cegc6m2xa32ay
 
PDF
Kelli Molczyk - A Seasoned Brand Strategist
byKelli Molczyk
 
PDF
How to Securely Purchase a Verified Chime Banking Account.pdf
byjp5xkjtv422s343kjum1
 
PDF
Step-by-Step Guide to Purchasing USA Facebook Accounts.pdf
byndsfcm3nubx18jc4s6f4
 
PPTX
Habra PPT-SBI Life Insurance Co Ltd 1.pptx
bysankhajit007
 
PDF
LCP-Pension-Submisson-CDC-Superfund-December-2025.pdf
byHenry Tapper
 
PDF
6f0f6b8445ec521879693a52223a777er3e4.pdf
bytostyhazel456
 
PDF
Recommandation from Rail 1520 a rail car leasing company
byHaim R. Branisteanu
 
PPTX
AI for Business - Strategy and Planning Webinar
byChristopherVicGamuya
 
PDF
CHAPTER 5 Decision Making, Learning, and Creativity
bynaj223eeb
 
PDF
Top 10 Best Sites To Buy USA Facebook Accounts You ....pdf
bykeb2bq5cegc6m2xa32ay
 
PDF
How to Buy Verified Binance Accounts for USDT and BTC ....pdf
bykeb2bq5cegc6m2xa32ay
 
BTP - GK 2025-4 (1) Consulting Marketing.pdf
byAyushNath13
 
Business Improvement blue and white scribble art presentation
byAndrew Laurey
 
How To Buy, Verified Wise Account in 2026.pdf
byzze2jltsflran03jy3m
 
How to Safely Buy Instagram Accounts in 2025 (1).pdf
byxuexmv3qbymlv32ohdjf
 
How to Buy Snapchat Account( 9.7) A Step-by-Step Guide ....pdf
byndsfcm3nubx18jc4s6f4
 
Bio, Pic and Speaker Vita for Attorney Dar'shun Kendrick
byKairos Capital Legal Advisors,LLC
 
Back to the future - the return of DB surpluses (slides) - 9 December 2025.pdf
byHenry Tapper
 
web-security-12157\jh,kl;pkkk;lkhiuguyh.ppt
bymonirujjamannahid12
 
Buy Verified Western Union Accounts - in the United States (1).pdf
bykeb2bq5cegc6m2xa32ay
 
Kelli Molczyk - A Seasoned Brand Strategist
byKelli Molczyk
 
How to Securely Purchase a Verified Chime Banking Account.pdf
byjp5xkjtv422s343kjum1
 
Step-by-Step Guide to Purchasing USA Facebook Accounts.pdf
byndsfcm3nubx18jc4s6f4
 
Habra PPT-SBI Life Insurance Co Ltd 1.pptx
bysankhajit007
 
LCP-Pension-Submisson-CDC-Superfund-December-2025.pdf
byHenry Tapper
 
6f0f6b8445ec521879693a52223a777er3e4.pdf
bytostyhazel456
 
Recommandation from Rail 1520 a rail car leasing company
byHaim R. Branisteanu
 
AI for Business - Strategy and Planning Webinar
byChristopherVicGamuya
 
CHAPTER 5 Decision Making, Learning, and Creativity
bynaj223eeb
 
Top 10 Best Sites To Buy USA Facebook Accounts You ....pdf
bykeb2bq5cegc6m2xa32ay
 
How to Buy Verified Binance Accounts for USDT and BTC ....pdf
bykeb2bq5cegc6m2xa32ay
 

An Introduction into Marketing Module 1 Slides

  • 1.
  • 2.
    TABLEOFCONTENT Defining Marketing, Core conceptsof Marketing, Scope of Marketing, Company Orientation towards the Marketplace, Marketing Management Tasks, The New Marketing Realities
  • 3.
    Marketing Management 3 Marketing dealswith identifying and meeting human and social needs. One of the shortest definitions of marketing is ―meeting needs profitably‖. The objective of all business enterprises is to satisfy the needs and wants of the society. Marketing is, therefore, a basic function of all business firms. When a salesperson sells washing machines, a doctor treats a patient or a Government asks people to take their children for getting polio drops, each is marketing something to the targets.
  • 4.
    Traditionally, small firmowners did not give as much importance to marketing as to other functions such as accountancy, production and selling. Training programmes, enterprise development and the current thrust for competitiveness have now given high priority to promoting marketing awareness among small business owners, and marketing is now assuming its rightful place along with other business functions. Marketing Management
  • 5.
    Since early 1990sthere has been a change in the thinking of businessman from product orientation to consumer orientation. Modern business concerns lay emphasis on ‗selling satisfaction‘ and not merely on selling products. The activities have to be coordinated so as to develop the marketing mix, which provides maximum satisfaction to the customers. That is why marketing research and product planning occupy an important role in marketing. The other important functions of marketing include: buying and assembling, selling, standardization, packing, storing, transportation, promotion, pricing and risk bearing. Thus, the scope of marketing is very wide and no more restricted to merely selling of products. Marketing Management
  • 6.
    Meaning and Definitionof Marketing The concept of marketing can be viewed from social and managerial perspectives. So Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. At its simplest, marketing can be defined as exchange transactions that take place between the buyer and the seller. Marketing is the management function, which organizes and directs all those business activities involved in assessing and converting customer purchasing power into effective demand.
  • 7.
    Meaning and Definitionof Marketing The American Marketing Association offers the following formal definition: Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders. Philip Kotler defines marketing as ― a social 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
  • 8.
    Meaning and Definitionof Marketing In essence, the marketing concept is customer orientation aimed at generating customer-satisfaction through integrated marketing. Marketing may be narrowly defined as a process by which goods and services are exchanged and the values determined in terms of money prices. That means marketing includes all those activities carried on to transfer the goods from the manufacturers or producers to the consumers.
  • 9.
    Marketing is morethan a mere physical process of distributing goods and services. It is the process of discovering and translating consumer wants into products and services. It begins with the customer (by finding their needs) and ends with the customer (by satisfying their needs). Meaning and Definition of Marketing
  • 10.
    The components ofmarketing concept are as under: a. Satisfaction of Customers: In the modern era, the customer is the focus of the organization. The organization should aim at producing those goods and services, which will lead to satisfaction of customers. b. Integrated marketing: The functions of production, finance and marketing should be integrated to satisfy the needs and expectations of customers. c. Profitable sales volume: Marketing is successful only when it is capable of maximizing profitable sales and achieves long- run customer satisfaction. Meaning and Definition of Marketing
  • 11.
    So, ―Marketing isthe performance of business activities that directs the flow of goods and services from producer to consumer or user.‖ This definition is undoubtedly an improvement on describing marketing as selling as it shows that marketing does encompass other activities besides selling. Meaning and Definition of Marketing
  • 12.
  • 13.
    THE VALUE OFMARKETING •Marketing ability helps to • create sufficient demand for products and services, which is essential for a firm’s financial success, • create jobs and • provide resources for firms to engage is socially responsible activities. • build strong brands and a loyal customer base, intangible assets that contribute heavily to the value of a firm Jobs Profits Giving
  • 14.
    THE VALUE OFMARKETING MarketingDecisionMaking • Marketers helps make major business decision • Marketers must make decision on features, prices, and markets and decide how much to spend on advertising, sales, and online and mobile marketing in an environment where consumers, competition, technology, and economic forces change rapidly and consequences quickly multiply. Major Business Decision Target Market Product Features Product Prices Product Promotion Product Distribution
  • 15.
    THE VALUE OFMARKETING MarketingDecisionMaking • Marketers that fail to carefully monitor their customers and competitors, continuously improve their value offerings and marketing strategies, or satisfy their employees, stockholders, suppliers, and channel partners in the process are more vulnerable to competitive entry. Wrong Marketing Decision Vulnerable to competitive entry
  • 16.
    THE VALUE OFMARKETING MarketingDecisionMaking • Marketers helps organization adapt and thrive in the changing environment • Marketers adapt, for example, including the use of web-only and social media campaigns in their marketing mixes, to thrive in the changing environment. Good Marketers Help organization thrive in the changing environment
  • 17.
    THE VALUEOFMARKETING VideoTime– “MarketingisaboutValue” He'sSteve Jobs and here's his #9 rule for success - Marketing is about Values. https://www.youtube.com/watch?v=OcFnKdAu21o
  • 18.
  • 19.
    THE SCOPE OFMARKETING WhatisMarketing • Marketing is about identifying and meeting human and social needs • “Meeting needs profitably.” American Marketing Association definition: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
  • 20.
    THE SCOPE OFMARKETING WhatisMarketing Management? Marketing Management is the art and science • 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 Choosing Target Market Creating Value Delivering Value Communicating Value
  • 21.
    THE SCOPE OFMARKETING WhatisMarketing Management? • Social definition of marketing: 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
  • 22.
    THE SCOPE OFMARKETING WhatisMarketing Management? • Selling is not the most important part of marketing; aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Selling is not the most important part of marketing Marketing it to know and understand the customers to give what they want
  • 23.
    THE SCOPE OFMARKETING WhatisMarketed? Goods: physical goods include food products, cars, refrigerators, televisions, machines, and other mainstays of a modern economy. Services: represent approximately 2/3 of the U.S. economy, including airlines, hotels, maintenance and repair people, and accountants, bankers, doctors, and management consultants. Events: include time-based events, global and local events Experiences: marketers orchestrate several services and goods to create, stage, and market experiences. Persons: include artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals often get help from marketers, and each person has been advised to become a “brand.”
  • 24.
    THE SCOPE OFMARKETING WhatisMarketed? Places: include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies. Properties: intangible rights of ownership to either real property (real estate) or financial property (stocks and bonds). Organizations: include museums, performing arts organizations, corporations, and nonprofits that use marketing to boost their public images and compete for audiences and funds. Information: what books, schools, and universities produce, market, and distribute at a price to parents, students, and communities. Ideas: every market offering includes a basic idea. Products and services are platforms for delivering some idea or benefit.
  • 25.
    THE SCOPE OFMARKETING WhoMarkets? • A marketer is someone who seeks a response—attention, a purchase, a vote, a donation—from another party, called the prospect. A marketer The prospect A marketer seeks respond such attention, a purchase, a vote, a donation from the prospect
  • 26.
    THE SCOPE OFMARKETING WhoMarkets? Marketer Prospect Attention Purchase Donation Vote Response
  • 27.
    THE SCOPE OFMARKETING WhoMarkets? • Marketers are skilled at stimulating demand for their products, but they also seek to influence the level, timing, and composition of demand to meet the organization’s objectives. • Eight demand states are possible: Negative demand—Consumers dislike the product and may even payto avoid it. Nonexistent demand—Consumers may be unaware of 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 even hourly basis. Full demand—Consumers are adequately buying all products put into the marketplace. Overfull demand—More consumers would like to buy the product than can be satisfied. Unwholesome demand—Consumers may be attracted to products that have
  • 28.
    THE SCOPE OFMARKETING WhoMarkets? • A market is a collection of buyers and sellers who transact over a particular product or product class (such as the housing market or the grain market).
  • 29.
    THE SCOPE OFMARKETING WhoMarkets? Key customer markets include: • Consumer Markets typically establish a strong brand image by developing a superior product or service, ensuring its availability, and Nonprofit backing it with engaging communications and reliable performance. • Business Markets typically have a strong emphasis on the sales force, the price, and the seller’s reputation. Key Customer Markets Consumer Markets Business Markets Global Markets and Governmental Markets
  • 30.
    THE SCOPE OFMARKETING WhoMarkets? Key customer markets include: • Global Markets require companies to navigate cultural, language, legal, and political differences as they make marketing decisions. Nonprofit • Nonprofit and Governmental Markets include churches, universities, charitable organizations, and government agencies. Key Customer Markets Consumer Markets Business Markets Global Markets Non Profit and Government al Markets
  • 31.
  • 32.
    CORE MARKETING CONCEPTS Needs,Wants, and Demands • Marketers do not create needs • Needs pre-exist marketers. Needs = basic human requirements Wants = when needs are directed to specific objects that might satisfy the need Demands = wants for specific products backed by an ability to pay
  • 33.
    CORE MARKETING CONCEPTS Needs,Wants, and Demands • Five types of needs: • Stated needs • Real needs • Unstated needs • Delight needs • Secret needs Five types of needs Stated needs Real needs Unstated needs Deligh t needs Secret needs
  • 34.
    CORE MARKETING CONCEPTS TargetMarkets, Positioning and Segmentation • For each target market, the firm develops a market offering that it positions in target buyers’ minds as delivering some key benefit(s). Segmentation: identification of distinct segments of buyers by identifying demographic, psychographic, and behavioral differences between them. Target markets:the segment(s) present the greatest opportunities.
  • 35.
    CORE MARKETING CONCEPTS Offeringsand Brands A value proposition is a set of benefits that satisfy a consumer’s needs. The intangible value proposition is made physical by an offering, which can be a combination of products, services, information, and experiences. A brand is an offering from a known source. All companies strive to build a brand image with as many strong, favorable, and unique brand associations as possible.
  • 36.
    CORE MARKETING CONCEPTS MarketingChannels Communication channels deliver and receive messages from target buyers Distribution channels help display, sell, or deliver the physical product or service(s) to the buyer or user Service channels include warehouses, transportation companies, banks, and insurance companies
  • 37.
    CORE MARKETINGCONCEPTS Impressions andEngagement Impressionsoccur when consumers view a communication Engagement is the extent of a customer’s attention and active involvement with a communication • Marketers now think of three “screens” or means to reach consumers: TV, Internet, and mobile.
  • 38.
    CORE MARKETING CONCEPTS Valueand Satisfaction Value is primarily a combination of quality, service, and price, called the customer value triad. Value perceptions increase with quality and service but decrease with price. Satisfaction reflects a person’s judgment of a product’s perceived performance in relationship to expectations.
  • 39.
    CORE MARKETINGCONCEPTS • Eachcompany in the chain captures only a certain percentage of the total value generated by the supply chain’s value delivery system. When a company acquires competitors or expands upstream or downstream, its aim is to capture a higher percentage of supply chain value. SupplyChain The supply chain is a channel stretching from raw materials to components to finished products carried to final buyers.
  • 40.
    CORE MARKETINGCONCEPTS Competition includes allthe actual and potential rival offerings and substitutes a buyer might consider.
  • 41.
    CORE MARKETINGCONCEPTS MarketingEnvironment Task environmentincludes the actors engaged in producing, distributing, and promoting the offering. Broad environment consists of six components: demographic environment, economic environment, social-cultural environment, natural environment, technological environment, and political-legal environment
  • 42.
  • 43.
    THE NEW MARKETINGREALITIES Technology •Widespread technology adoption has created: new opportunities promotes shared information customer relationship management
  • 44.
    THE NEW MARKETINGREALITIES Globalization •Transportation, shipping, and communication technologies have made it easier for us to know the rest of the world, to travel, to buy and sell anywhere. • Globalization has made countries increasingly multicultural. • Globalization changes innovation and product development as companies take ideas and lessons from one country and apply them to another.
  • 45.
    THE NEW MARKETING REALITIES NewCompany Capabilities Major Societal Forces Information Technology Globalization Increased Competition Consumer Information Communicate w/Customer Collect Information New Opportunities
  • 46.
    THE NEW MARKETINGREALITIES VideoTime–“TheGigEconomy” • With the push of a button, apps let us summon services, from taxis to takeaways, to our location. But do they make the world more efficient? In an FT investigation, Izabella Kaminska reveals how the gig economy is being powered by poor working conditions
  • 47.
  • 48.
    SOCIALRESPONSIBILITY PrivateSector • The privatesector is taking some responsibility for improving living conditions, and firms all over the world have elevated the role of corporate social responsibility.
  • 49.
    SOCIALRESPONSIBILITY Marketing3.0 • Marketing 3.0 suggeststhree central trends that change the way companies do business: increased consumer participation and collaborative marketing globalization the rise of a creative society
  • 50.
    SOCIALRESPONSIBILITY PreservingLongTermWellBeing • The organization’s taskis to determine the needs, wants, and interests of target markets and satisfy them more effectively and efficiently than competitors while preserving or enhancing consumers’ and society’s long- term well-being. Effective Marketing Strategy While being Socially Responsible
  • 51.
    SOCIALRESPONSIBILITY Benefits • Companies may incorporatesocial responsibility as a way: Todifferentiate themselves from competitors, Tobuild consumer preference Toachieve notable sales and profit gains.
  • 52.
  • 53.
    A DRAMATICALLYCHANGEDMARKETPLACE New ConsumerCapabilities Consumersare empowered through technology, like social media, and by expanded information, communication and mobility. Consumers can use the Internet as a powerful information and purchasing aid. Consumers can search, communicate, and purchase on the move. Consumers can tap into social media to share opinions and express loyalty. Consumers can actively interact with companies. Consumers can reject marketing they find inappropriate.
  • 54.
    A DRAMATICALLYCHANGEDMARKETPLACE New CompaniesCapabilities Companiescan use the Internet as a powerful information and sales channel, including for individually differentiated goods. Companies can collect fuller and richer information about markets, customers, prospects, and competitors. Companies can reach customers quickly and efficiently via social media and mobile marketing, sending targeted ads, coupons, and information. Companies can improve purchasing, recruiting, training, and internal and external communications. Companies can improve cost efficiency.
  • 55.
    A DRAMATICALLYCHANGEDMARKETPLACE ChangingChannels • Retailtransformation: increased competition from a variety of formats has yielded more entertaining retail experiences. • Disintermediation: delivery of products and services by intervening in the traditional flow of goods.
  • 56.
    A DRAMATICALLYCHANGEDMARKETPLACE HeightenedCompetition • Privatelabels: Powerful retailers market their own store brands, increasingly indistinguishable from any other type of brand. • Mega-brands: Many strong brands have become mega-brands and extended into related product categories, including new opportunities at the intersection of two or more industries.
  • 57.
    A DRAMATICALLYCHANGEDMARKETPLACE HeightenedCompetition • Deregulation:Many countries have deregulated industries to create greater competition and growth opportunities. In the United States, laws restricting financial services, telecommunications, and electric utilities have all been loosened in the spirit of greater competition. • Privatization: Many countries have converted public companies to private ownership and management to increase their efficiency.
  • 58.
    A DRAMATICALLYCHANGEDMARKETPLACE MarketingBalance • Companiesmust always move forward (incorporate the Internet and digital efforts into marketing plans), innovating products and services, staying in touch with customer needs, and seeking new advantages rather than relying on past strengths. Move forward, innovating products and services, staying in touch with customer needs and seeking new opportunity Past successes and strengths
  • 59.
    A DRAMATICALLYCHANGEDMARKETPLACE MarketingAccountability • Marketersare increasingly asked to justify their investments in financial and profitability terms, as well as in terms of building the brand and growing the customer base.
  • 60.
    A DRAMATICALLYCHANGEDMARKETPLACE Marketing intheOrganization • Every employee has an impact on the customer, so marketers now must properly manage all possible touch points: • store layouts • package designs • product functions • employee training • shipping and logistics Store Layouts Package Designs Product Functions Employee Training Shipping And Logistics
  • 61.
    A DRAMATICALLYCHANGEDMARKETPLACE VideoTime–“Retail'sFuture:Brick-and-Mortarvs.E-Commerce” Joe Gromek,former chairman at Tumi and former chief executive officer at Warnaco, discusses the retail shift to online shopping.
  • 62.
  • 63.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE • Company orientation • Production •Product • Selling • Marketing Company Orientation Production Product Selling Marketing
  • 64.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE The ProductionConcept • Suggests consumersprefer products that are widely available and inexpensive. Company Orientation Production Product Selling Marketing
  • 65.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE The ProductionConcept • Withproduction concept, management aims for • high production efficiency • low costs • mass distribution Management aims for High Production Efficiency LowCosts Mass Distribution
  • 66.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE The ProductConcept • Consumersfavor products offering the most quality, performance, or innovative features Company Orientation Production Product Selling Marketing
  • 67.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE The ProductConcept • Managersmay commit the “better- mousetrap” fallacy, believing a better product will by itself lead people to beat a path to their door. Better product Better sales
  • 68.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE The SellingConcept • Consumersand businesses, if left alone, won’t buy enough of the organization’s products Company Orientation Production Product Selling Marketing
  • 69.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE The SellingConcept • Itis practiced most aggressively with unsought goods—goods buyers don’t normally think of buying such as insurance and cemetery plots—and when firms with overcapacity aim to sell what they make, rather than make what the market wants.
  • 70.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE The MarketingConcept • Findthe right products for your customers Company Orientation Production Product Selling Marketing
  • 71.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE The MarketingConcept • Themarketing concept holds that the key to achieving organizational goals is being more effective than competitors in creating, delivering, and communicating superior customer value to your target markets.
  • 72.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE TheHolisticMarketingConcept • Based onthe development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
  • 73.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE TheHolisticMarketingConcept • Everything mattersin marketing—and that a broad, integrated perspective is often necessary. Below is a schematic overview of four broad components characterizing holistic marketing: relationship marketing, integrated marketing, internal marketing, and performance marketing.
  • 74.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE RelationshipMarketing • Aims tobuild mutually satisfying long- term relationships with key constituents in order to earn and retain their business. • Four key constituents for relationship marketing are: Customers Employees Marketing Partners (Channels, Suppliers, Distributors, Dealers, Agencies) Four Key Constituents For Relationship Marketing Members Of The Financial Community (Shareholders, Investors, Analysts)
  • 75.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE RelationshipMarketing • Marketers mustcreate prosperity among all these constituents and balance the returns to all key stakeholders. • Todevelop strong relationships with them requires understanding their capabilities and resources, needs, goals, and desires.
  • 76.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE IntegratedMarketing •What is IntegratedMarketing • Devise marketing activities and programs that create, communicate, and deliver value such that “the whole is greater than the sum of its parts.”
  • 77.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE IntegratedMarketing • Two keythemes of integrated marketing are that • many different marketing activities can create, communicate, and deliver value and • marketers should design and implement any one marketing activity with all other activities in mind. Key Themes There aremany marketing activities Each activity is integratedwith each other
  • 78.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE InternalMarketing • What isInternal Marketing? • The task of hiring, training, and motivating able employees who want to serve customers well.
  • 79.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE InternalMarketing • Marketing succeedsonly when all departments work together to achieve customer goals • When engineering designs the right products • When finance furnishes the right amount of funding • When purchasing buys the right materials • When production makes the right products in the right time horizon • When accounting measures profitability in the right way Internal Marketing Hiring Staff Training Staff Motivating Staff
  • 80.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE PerformanceMarketing • What isPerformance Marketing? • Requires understanding the financial and nonfinancial returns to business and society from marketing activities and programs.
  • 81.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE PerformanceMarketing • Top marketersare increasingly going beyond sales revenue to examine the marketing scorecard and interpret what is happening to market share, customer loss rate, customer satisfaction, product quality, and other measures. • They are also considering the legal, ethical, social, and environmental effects of marketing activities and programs Marketing Scorecard Financial Accountability Environmental Impact Social Impact Legal Impact EthicalImpact
  • 82.
    COMPANYORIENTATIONTOWARDTHEMARKETPLACE VideoTime–“RelationshipMarketing” Today’s customer isskeptical, connected and well informed. Mass marketing as we know it is gone for good. Brands need to stop talking at their customers and start seeing the world through their eyes. Using AI, technology and customer data, they need to truly know their customers, build trust and emotional connections, and create customer relationships that last. • MARK MORIN • As a customer relationship builder, Mark has devoted the past 35+ years to bringing brands and people closer. He is an author, trainer, professional speaker and an expert in the field of relationship and cognitive marketing.