Marketing management basics notes
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The document outlines various concepts of marketing, including definitions, types of markets and goods, and the marketing mix. It emphasizes the importance of marketing in satisfying consumer needs, driving revenue, and supporting economic development and stability. Key marketing functions such as product planning, pricing, distribution, and promotion are also discussed, highlighting their roles in achieving business objectives.
Marketing management basics notes
- 2. MARKET Latin word “Marcatus” Place were business is conducted. Concept of market: 1. place concept- Fruit Market 2. Area concept- Share Market 3. Demand concept-Pharmaceutical product. Market communication Body of sellers Body of buyers Feedback information Market of exchange C.Dharshanaa., Assisstant Professor
- 3. FEATURES OF MARKET Convenient place, region, state, nation & world. Buyers and sellers are 2 sides Need ,capacity to spend & availability of goods and services. Meeting of minds. Customer service and satisfaction C.Dharshanaa., Assisstant Professor
- 4. TYPES OF MARKET C.Dharshanaa., Assisstant Professor
- 7. AMA defines Marketing as 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 objectives. (Oral care products) FEATURES OF MARKETING • Satisfying the needs and desire of consumers. • Marketing is a continuous activity. • Deals with exchange of goods and services • Three factors-demand, public interest & profitability • Creates Time, Place and Possession utilities. • Integral part of business • Profit maximization through customer satisfaction. • Large scale production, Employment Opportunity & Social Welfare C.Dharshanaa.,
- 9. IMPORTANCE OF MARKETING TO THE SOCIETY Helps to achieve, maintain and raise the standard of living and quality of life of the society. Satisfaction of human wants. Marketing increases employment opportunity. Helps to increase national income. Maintain economic stability and economic development. Connecting link between the consumer and producer. Removes imbalance of supply. Creation of utilities.
- 11. IMPORTANCE OF MARKETING TO INDIVIDUAL/BUSINESS FIRM Marketing generates revenue to the firm Act as a basis for making decisions Helps top management to manage innovations and changes C.Dharshanaa.,
- 12. MARKETING FUNCTIONS (SCOPE) FUNCTIONS OF EXCHANGE 1.BUYING FUNCTION 2.ASSEMBLING FUNCTION 3.SELLING FUNCTION FUNCTIONS OF PHYSICAL SUPPLY 1.TRANSPORTATION 2.INVENTORY MANAGEMENT 3.WAREHOUSING 4.MATERIAL HANDLING FACILITATING FUNCTION 1.FINANCING 2.RISK TAKING & INSURANCE 3.STANDARDISATION 4.AFTER-SALES SERVICE SCOPE OF MARKETING C.Dharshanaa.,
- 14. APPROACHES TO THE STUDY OF MARKETING COMMODITY APPROACH INSTITUTIONAL APPROACH THE SYSTEM APPROACH FUNCTIONAL APPROACH 1. Objective 2. Inputs 3. Processor 4. Outputs & 5. Feedback Specialized service or functions. Buying, selling, storing, risk bearing, transport, financing and info. Original producer to final consumer. Agriculture products – cotton, wheat and jute Wholesaler, retailer, Insurance companies and banks C.Dharshanaa.,
- 15. INPUT PROCESSOR OUTPUT OBJECTIVES FEEDBACK INFORMATION MANAGEMENT CONTROL SYSTEM APPROACH C.Dharshanaa.,
- 16. Producer Customer Goods Flow Goods Flow Market Anticipation Exchange something of value Customer demand through marketing research Market offering Money Flow Government,Competitors,Suppliers,Consumerism&Mass Media of Communication C.Dharshanaa.,
- 17. The Exchange Orientation The product orientation The production Orientation The sales Orientation Marketing Concept Societal Marketing Concept EVOLUTION OF MARKETING CONCEPT 1930 3Cs Barter performance Sale s Customer want C.Dharshanaa.,
- 19. MARKETING CONCEPT SELLING CONCEPT FOCUS- Products something that has to be sold to the customer. MEANS- Selling and Promotion. OBJECTIVES- Profits through sales volume MODERN CONCEPT FOCUS- products to fill in customer needs something that is bought by the customer. MEANS- Integrated marketing mix OBJECTIVES- Profits through customer satisfaction. C.Dharshanaa.,
- 21. Setting marketing goals and objectives Develop marketing plan Organizing the marketing function Marketing plan into action Controlling the marketing programme Increase in sales volume Increase in net profit Growth of the organization INTRODUCTION OBJECTIVES
- 22. Customer Philosophy- market place, unsatisfied and potential customers needs and wants. Company plans & shaping company – around customer. Integrated marketing organization- marketing analysis, planning, implementation and control effectively. Adequate marketing information- Efficient Marketing information system. Strategic Orientation - Innovative strategies and plan- long term growth & profitability. Operational Efficiency – cost-effective manner & corrective action C.Dharshanaa.,
- 23. • Determination of marketing goals. • Market analysis, sales forecasting and budget. • Formulation of marketing strategies, policies & procedures. • Appropriate marketing mix programme. • Organizing overall marketing activity. • Assembling of necessary resources. • Correlation between product attribute and customer demand. • Management of distribution channel. • Communication, proper control and co-ordination • Post sales servicing. C.Dharshanaa.,
- 25. MEASURING RESULTS AGAINST PLANS CONTROL EXECUTION OF MARKETING PROGRAMME MARKETING ACTION PLAN DIFFERENTIAL BENEFITS MARKETING STRATEGIES EXTERNAL ENVIRONMENT MARKETING OPPORTUNITIES MARKETING CAPABILITIES MARKETING OBJECTIVESF E E D B A C K E V A L A U T I O N
- 26. ANALYSIS OF MARKET SITUATION MARKETING OBJECTIVE MARKETING Strategy (4Ps) Developing and implementing marketing plans & policies MonitoringResults Customer Satisfaction, profitability, Market share, survival and company image C.Dharshanaa.,
- 27. C.Dharshanaa.,
- 28. AND STYLE COLOUR DESIGN PRODUCT LINE PACKAGE WARRANTY SERVICE C.Dharshanaa.,
- 29. PRICING STRATEGY PRICING POLICY BASIC PRICE TERMS OF CREDIT DISCOUNTS ALLOWANCES C.Dharshanaa.,
- 30. PERSONAL SELLING ADVERTISING PUBLICITY SALES PROMOTION A) DEALERS AID B) CONSUMERS AID C.Dharshanaa.,
- 31. DISTRIBUTION CHANNELS WHOLESALER RETAILER MERCANTILE AGENT PHYSICAL DISTRIBUTION TRANSPORT WAREHOUSING INVENTORY C.Dharshanaa.,
- 33. 7 P’S OF MARKETING
- 34. C.Dharshanaa.,
- 35. C.Dharshanaa.,
- 36. FEATURES OF MARKETING MIX (MM) Co-Equal, Interdependent and Essential. Achieving the marketing objectives Flexible and Dynamic concept. Marketing manager acts as a medium of all marketing Ingredients. Applicable to business and non business org. Focus on MM is customer and their satisfaction C.Dharshanaa.,
- 38. Policy of the government. Consumer Behavior. Competition. Trade Factors Product Planning Branding Packaging Distribution Personal selling Advertising Sales promotion Marketing Research MARKET (UNCONTROLLABLE) PRODUCT (CONTROLLABLE) C.Dharshanaa.,
- 39. C.Dharshanaa.,
- 40. FUNCTIONAL MARKETING ORGANIZATION CEO as president or Managing Director. Marketing Manager or Director. Marketing Service Manager. Brand or Product Manager. Sales Manager. Advertising Manager. Physical Distribution Manager. Office Manager. C.Dharshanaa.,
- 41. GEOGRAPHICAL MARKETING ORGANIZATION Marketing manager WEST sales manager sales Physical distribution SOUTHERN Sales manager sales Physical distribution EASTERN sales manager sales Physical distribution NORTHERN sales manager sales Physical distribution C.Dharshanaa.,
- 42. PRODUCT OR BARND ORIENTED ORGANIZATION Brand or product managers are specialized staffs. Expert advice and Service to all line Executives. Co-ordinate all marketing functions. Reduction of cost. Fixing the problems. Product team approach and develop product management. Team of specialist like researchers, communication, distribution and finance. C.Dharshanaa.,
- 43. CUSTOMER ORIENTED ORGANIZATION Well defined group of buyers with distinct buying practice and product preference- Customer oriented marketing organization. Specific market segment. Eg: Electric company – commercial sales, Industrial sales, Farm sales and Residential sales C.Dharshanaa.,
- 44. Searching the Environment for opportunities. Determination of marketing plans and policies. Evolving marketing mix. Supervision and control. Negotiating the transactions and pricing. Growth of existing market. Development of new product. Marketing control & control over the existing cost Consumer & public relation. C.Dharshanaa.,
- 45. Selection , Management and Control of distribution channel. Management of change ( competition) Recruitment , selection, training and development – sales force. Integrating all marketing activities. Promotion. C.Dharshanaa.,
- 46. SALES VS MARKETING EXECUTIVES Sales volume. Short Run (oriented towards current activities) Individual customer. Field work is favored. Sales volume around profit. Long-term growth (Opportunities & Thread into new product) Profitable segment- Market segmentation. Good system for market analysis. Sales Management Demand Management