Marketing Theory and Practices for BBA and MBA
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Unit-01 PPT of Marketing Management
Marketing Theory and Practices for BBA and MBA
- 2. CONCEPT OF MARKETING Marketing has been derived from the term ‘Market’ which is a Place or geographical area where buyers and sellers meet and enter into transactions involving transfer of ownership of goods & services. 03/06/2025 madhvendras 2
- 3. Marketing is a human activity directed at satisfying needs and wants through exchange process. Thus------ 03/06/2025 madhvendras 3 Consumer Oriented Recognition of consumer needs Customer satisfaction Profit
- 4. WHAT IS MARKETING…?? • Selling? • Advertising? • Promotions? • Making products available in stores? • Maintaining inventories? • All of the above, plus much more! 03/06/2025 madhvendras 4
- 5. According to Philip Kotler: 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. 03/06/2025 madhvendras 5
- 6. MARKETING = ? •Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals •American Marketing Association 03/06/2025 madhvendras 6
- 7. MARKETING = ? •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. 03/06/2025 madhvendras 7
- 8. It is a process of formulating and implementing such strategies by a firm(product development ,pricing, promoting & distributing) that ensures flow of needs satisfying goods & services at profit. 03/06/2025 madhvendras 8
- 9. MARKETING = ? Marketing is the sum of all activities that take you to a sales outlet.After that sales takes over. Marketing is all about creating a pull, sales is all about push. Marketing is all about managing the four P’s – product price place promotion 03/06/2025 madhvendras 9
- 10. THE 4 PS & 4CS Marketing Mix Product Price Promotion Place Customer Solution Customer Cost Communication Convenience 03/06/2025 madhvendras 10
- 11. THE 4PS OF APPLE 03/06/2025 madhvendras 11 1. Product • High-quality, innovative products: iPhone, iPad, MacBook,Apple Watch, etc. • Focus on user-friendly design and technology. • Ecosystem integration: seamless connection between devices and services like iCloud, iTunes, and App Store. 2. Price • Premium pricing strategy. • Reflects high quality and exclusivity. • Offers financing options and trade-in programs to attract diverse customer segments.
- 12. THE 4PS OF APPLE 03/06/2025 madhvendras 12 3. Place • Exclusive Apple Stores for direct customer experience. • Partnerships with authorized resellers and online platforms. • Global availability in over 100 countries. 4. Promotion • Minimalistic and emotional advertising campaigns (e.g.,“Think Different”). • Keynote events to launch products, creating hype. • Heavy reliance on digital marketing, influencer endorsements, and word-of- mouth.
- 13. 3 more Ps of marketing: 5-Physical layout 6-Provision of Customer service 7-Processes 03/06/2025 madhvendras 13
- 14. Difference Between - Sales & Marketing ? Sales trying to get the customer to want what the company produces Marketing trying to get the company produce what the customer wants 03/06/2025 madhvendras 14
- 15. 03/06/2025 madhvendras 15 Aspect Sales Marketing Definition Focuses on selling the product or service to the customer. Focuses on creating awareness, interest, and demand for the product. Objective Achieve immediate revenue by closing deals. Build long-term customer relationships and brand equity. Orientation Product-oriented (sell what is available). Customer-oriented (understand and fulfill customer needs). Timeframe Short-term focus on achieving sales targets. Long-term focus on market positioning and customer retention. Approach One-to-one, direct interaction with customers. Mass communication, campaigns, and targeted advertising. Key Activities Negotiation, handling objections, and closing sales. Market research, product design, pricing, promotion, and distribution. Tools Used Sales calls, pitches, discounts, and incentives. Advertising, social media, PR, SEO, and branding strategies. Success Metric Number of units sold or revenue generated. Market share, brand recognition, and customer satisfaction.
- 16. THE NATURE OF MARKETING • Customer-Focused: Modern marketing revolves around understanding customer needs and preferences. The focus is on enhancing the customer experience, not just selling products. • Value-Driven: Customers want more than products— they want meaningful experiences. Marketers must highlight how their product solves problems and adds value. • Digital and Data-Based: Digital tools and data help marketers understand customers, predict trends, and personalize strategies. Channels include SEO, social media, email, and online ads. 03/06/2025 madhvendras 16
- 17. THE NATURE OF MARKETING • Multi-Channel Integration: Marketing uses various channels—online and offline—to deliver a consistent and unified brand message. • Flexible and Evolving: Marketing adapts to changing trends, customer behaviors, and technologies to stay relevant and effective. 03/06/2025 madhvendras 17
- 18. THE SCOPE OF MARKETING • Market Research: Understand your audience by collecting data through surveys, feedback, and tools. This helps tailor products, services, and messages to customer needs. • Product Development: Work with product teams to design items that fill market gaps and provide value. Test products with real users before launch. • Branding: Create a unique identity through logos, taglines, and messaging to build trust and stand out from competitors. • Advertising and Promotions: Use ads (digital,TV, print) and promotions (discounts, deals) to attract customers and boost sales. 03/06/2025 madhvendras 18
- 19. THE SCOPE OF MARKETING • Sales and Distribution: Choose the best channels— online, retail, or both—to make products easily accessible to customers. • Digital Marketing: Strengthen your online presence with SEO, content, social media, and email marketing to stay competitive. • Customer Relationship Management (CRM): Use CRM tools to build strong, personalized relationships and keep customers loyal. • Public Relations (PR): Manage your company’s image and reputation through media relations, press releases, and crisis responses. 03/06/2025 madhvendras 19
- 20. THE SCOPE OF MARKETING • Content Marketing: Create valuable content like blogs, videos, and podcasts to educate and engage your audience. • Social Media Marketing: Connect with your audience on platforms like Instagram and LinkedIn to build loyalty and grow your brand. • Analytics and Reporting: Use data to measure campaign success, track behavior, and improve marketing strategies in real-time. 03/06/2025 madhvendras 20
- 21. THE IMPORTANCE OF MARKETING • Driving Sales: Marketing attracts customers and boosts sales by creating awareness of your products or services through campaigns and events. • Building Brand Awareness: A strong marketing strategy ensures your brand stands out, helping customers recognize and choose you over competitors. • Creating Customer Loyalty: Marketing builds lasting relationships through personalized experiences, rewards, and engaging content, turning buyers into loyal customers. • Informing Product Development: Marketing gathers feedback to help design products that align with customer needs and keep the business competitive. 03/06/2025 madhvendras 21
- 22. THE IMPORTANCE OF MARKETING • Supporting Business Growth: Marketing drives growth by acquiring new customers, retaining existing ones, and expanding into new markets. • Enhancing Competitive Advantage: Marketing highlights your unique value, helping you stand out through creative campaigns, excellent service. 03/06/2025 madhvendras 22
- 23. UNDERSTANDING MARKETING THROUGH ACTIVITY • Exploring the 4 Ps of Marketing – Product, Price, Place, Promotion 03/06/2025 madhvendras 23
- 24. LEARNING OBJECTIVES • Understand the concept of marketing and its importance. • Learn how to apply the 4 Ps of Marketing in real-world scenarios. • Enhance creativity, teamwork, and presentation skills. 03/06/2025 madhvendras 24
- 25. CREATE YOUR OWN PRODUCT • Goal: Develop a new product and a marketing strategy using the 4 Ps. • Format: Team-based activity followed by presentations. Duration: 30–40 minutes. • Outcome: Students will gain practical insights into marketing strategies. 03/06/2025 madhvendras 25
- 26. HE 4 PS OF MARKETING • TProduct:What are you offering?What makes it unique? • Price: How much will you charge? Why? • Place:Where will you sell it?Why? • Promotion: How will you promote it to attract customers? 03/06/2025 madhvendras 26
- 27. INSTRUCTIONS FOR THE ACTIVITY 1. FormTeams: Divide the class into groups of 4-5 students. 2. Develop a Product: Create a new product idea that solves a specific problem or meets a need. 3. Define the 4 Ps: For your product, decide: 1. Product features and USP. 2. Pricing strategy. 3. Sales channels and distribution. 4. Promotion methods. 4. Prepare a Pitch: Create a 3-minute presentation to showcase your product and strategy. 5. Present: Each team will pitch their product to the class. 03/06/2025 madhvendras 27
- 28. EXAMPLE – QUICKFIX (ALL-IN-ONE ADHESIVE) • Product: Multi-purpose adhesive for quick repairs. • Price: 50 for small tubes, 250 for larger bottles. ₹ ₹ • Place:Available online and in hardware stores. • Promotion: Ads with the tagline “Fix It Fast with QuickFix,” demos at stores, and social media campaigns. 03/06/2025 madhvendras 28
- 30. TYPES OF MARKETING ENTITIES • Goods: Any product manufactured in mass quantity, requires proper marketing to make it available to its consumers located in different places of the country or world. For example; Mobile phones manufactured in China and sold all over the world • Services: An economic activity performed to meet the consumer’s demand, needs, promotion and marketing. For example; Ola cabs providing for local taxi services. • Events: Various trade fairs, live shows, local events and other promotional events need advertising and publicity. For example; Indian Fashion Expo is the event where leading fashion houses participate in displaying exhibit their creation needs marketing to reach customers, manufacturers and traders. • Experiences: It even organizes and customizes the impression made by certain goods and services to fulfil the customer’s wish. For example; A Europe trip package provided by makemytrip.com or tripadvisor.com 03/06/2025 madhvendras 30
- 31. TYPES OF MARKETING ENTITIES • Persons: A person who wants to promote his skills, profession, art, expertise to acquire customers, take the help of marketing functions. For Example; A chartered accountant updates his profile over linkedin.com to publicise his skills and talent to reach clients. • Places: Marketing of tourist places, cities, states and countries helps to attract visitors from all over the world. For example; India’s Ministry of Tourism promoting India through ‘Incredible India’ campaign • Properties: It provides for selling of tangible and ntangible properties like real estate, stocks, securities, debentures, etc.For example; Real estate agents publicise the residential plots to investors 03/06/2025 madhvendras 31
- 32. TYPES OF MARKETING ENTITIES • Organizations: Several corporations and non-profit organisations like schools, colleges, universities, art institutes, etc. create and maintain a public impression through marketing. For example; Circulars and advertisements made by colleges as ‘admission open.’ • Information: Certain information related to healthcare, technology, science, media, law, tax, market, finance, accounting, etc. have to demand among the corporate decision-makers who are marketed by some leading information agencies.For example; Bloomberg provides all current financial, business and market data. • Ideas: Brands market their products or services through advertisements spreading a social message to connect with the consumers. For example; Idea 4G’s advertisement spreading the message of ‘sharing our real side. 03/06/2025 madhvendras 32
- 34. • Production Concept: Consumers prefer products that are widely available and inexpensive. The production concept is more operations oriented than any other concept. • Product Concept: Consumers favor products that offer the most quality, performance, or innovative features. The product concept believes in the consumer and it says the consumers are more likely to be loyal if they have more options of products or they get more benefits from the product of the company. • Selling Concept: Consumers will buy products only if the company aggressively promotes or sells these products. Off course, in this era of marketing, we know that selling is not the only tactic to sell your product. You have to focus on marketing as well. 03/06/2025 madhvendras 34
- 35. • Marketing Concept: Focuses on needs/wants of target markets & delivering value better than competitors. The marketing concept believes in the pull strategy and says that you need to make your brand so strong that customers themselves prefer your brand over every other competitor. This can be achieved through • The Societal Marketing Concept adds another layer by balancing consumer needs, company goals, and societal welfare. This approach emphasizes making decisions that not only benefit customers but also protect the environment and ensure sustainable development for future generations. 03/06/2025 madhvendras 35
- 36. MARKETING MANAGEMENT: SELF- ASSESSMENT QUESTIONS • ______________ brings out new ideas and gets several opportunities in Marketing. A. Production B. Marketing C. Creativity D. Consumer • The main objective of marketing is __________. A. Increasing profit B. Increasing sales C. Increasing prices D. Decreasing cost of production 03/06/2025 madhvendras 36
- 37. MARKETING MANAGEMENT: SELF- ASSESSMENT QUESTIONS • Effective Marketing requires: A. Proper pricing B. Customized products C. Effective procedures D.All the above • The concept which deals with good and quality products provided to the consumers is: A. Marketing concept B. Product Concept C. Exchange Concept D. Production Concept 03/06/2025 madhvendras 37
- 38. MARKETING MANAGEMENT: SELF- ASSESSMENT QUESTIONS • The function of marketing that deals with the development of goods with respect to their color, design, shape, and other characteristics is called __________. A. Production B. Product Planning and Development C. Packaging and Pricing D. Standardization and Grading • The marketing function that deals with the cost of the product and the capacity of the consumer to pay is called: A. Packaging B. Branding C. Pricing D. Marketing 03/06/2025 madhvendras 38
- 39. MARKETING MANAGEMENT: SELF- ASSESSMENT QUESTIONS • The process of collecting and analyzing the information regarding consumer needs, nature of competition, prevailing prices, and advertising effectiveness is called: A. Product Research B. Marketing Research C. Price Research D. Selling Research • Marketing is based on the rule of buying and selling. According to this concept, marketing is an art of: A. Buying more B. Selling more C. Fulfilling consumers' needs D.All the above 03/06/2025 madhvendras 39
- 40. MARKETING MANAGEMENT: SELF- ASSESSMENT QUESTIONS • When a customer deals with the same organization for a long time, it is called __________. A. Customization B. Customer Equity C. Customers’ Need D. Customer Retention • A person who purchases any product or service is known as __________. A. Customer B. Consumer C. Marketing staff D. Salesperson 03/06/2025 madhvendras 40
- 41. MARKETING MANAGEMENT: SELF- ASSESSMENT QUESTIONS • “Many people want BMW, only a few are able to buy.”This is an example of __________. A. Need B.Want C. Demand D. Status • __________ makes a service different from a product. A. Pricing B. Intangibility C. Ubiquity D. Liquidity 03/06/2025 madhvendras 41
- 42. MARKETING MANAGEMENT: SELF- ASSESSMENT QUESTIONS • Marketing management is the __________ of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. A.Art B. Science C.Art and Science D. None of the above • Marketing people market the following entities: A. Goods B. Services C. Experiences D.All the above 03/06/2025 madhvendra 42
- 43. MARKETING MANAGEMENT: SELF- ASSESSMENT QUESTIONS At a fast-food restaurant, what is marketed? A. Pizza B. Goods C. Services D. Goods and Services 03/06/2025 madhvendras 43
- 44. ANSWER 1. C 2. A 3. D 4. B 5. D 6. C 7. B 8. C 9. D 10.A 11.C 12.B 13.C 14.D 15.D 03/06/2025 madhvendras 44