Professional Documents
Culture Documents
Module I
Nature of Marketing ? Definition, meaning and
scope, core concepts of marketing .
Company orientation towards marketing.
Role of marketing in Indian economy,
emerging trends in Indian marketing
environment.
Nature of Marketing.
What is Marketing?
Marketing deals with identifying and meeting
human and social needs.
“Meeting needs profitably”.
American Marketing Association define as
“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”
Exchange and Transactions.
Exchange:
1.There are at lest two parties.
2.Each party has something that might be of value
to the other party.
3.Each party is capable of communication and
delivery.
4.Each party is free to accept or reject the
exchange offer.
5.Each party believes it is appropriate or desirable
to deal with the other party.
Transaction:
A transaction is a trade of values between
two or more parties.
Transfer of ownership.
Marketplaces, Marketspaces and
Metamarkets.
Goods/Services
Industry Market
Money
Information
How Business and Marketing are
Changing.
• Changing • Customization.
Technology.
• Heightened
• Globalization. competition
• Deregulation. • Industry
convergence.
• Privatization.
• Retail transformation.
• Customer
Empowerment. • Disintermediation.
Core Concepts of Marketing.
1. Needs, Wants and Demands.
Needs are the basic human requirements.
Wants ; needs become wants. When they
are directed to specific objectives that
might satisfy the need.
Demands are wants for specific products
backed by an ability to pay.
2. Target Markets, Positioning and
Segmentation;
Identify and profile distinct group of buyers
who might prefer or require varying
product and services mixes by examining
demographic, psychographic and
behavioral differences among buyers.
The marketer then decides which segments
present the greatest opportunity- Which
are its Target Markets. For each chosen
target market, the firm develops a market
offering . The offering is Positioned in the
minds of the target buyers as delivering.
3. Offering and Brands;
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.
4. Value and Satisfaction;
Value reflects the perceived tangible and
intangible benefits and costs to
customers.
Satisfaction reflects a person’s comparative
judgments resulting from a product’s
perceived performance in relation to his
or her expectations.
5.Marketing Channels
To reach a target market the marketer uses
three kinds of Marketing Channels.
Communication Channels -
Distribution Channels –
Service Channels -
6.Supply Chain
It represents a value delivery systems. Like
Tanning Operations, Cutting Operation, &
Manufacturing.
7. Competition
Competition includes all the actual and
potential rival offerings and substitutes
that a buyer might consider.
8. Marketing Environment.
It consists of the task environment and the board
environment.
Task /Internal Environment.
Board/External Environment.
9. Marketing Planning
The process consists of analyzing marketing
opportunities, selecting target markets,
Designing marketing strategies,& Developing
marketing program.
Company orientation towards
marketing.
Internal Integrated
Marketing. Marketing.
Holistic
Marketing
Socially
Responsible Relationship
Marketing.
Marketing