BYM.VINITH KUMAR

MODERN MARKETING

CONTENTS

• Marketing concepts • Importance of marketing• Recent trends in modern marketing• Comparison between Selling and Marketing Concept • Conclusion

DEFINITION OF MARKETING

The American Marketing Association:

“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.”

IMPORTANCE OF MARKETING

• Marketing Promotes Product Awareness to the Public

• Marketing Helps Boost Product Sales

IMPORTANCE OF MARKETING

IMPORTANCE OF MARKETING

• Marketing Builds Company Reputation

TYPES OF MARKETING

• Online Marketing

•Offline Marketing

•Word of Mouth Marketing

MARKETING CONCEPTS

DefinitionMarketing concepts can be defined as the marketing philosophies by which a firm’s

goal can be best achieved through identification and satisfaction of the customers’ stated and unstated needs and wants.

Meaning

Companies adopt different philosophies in relation to marketing of their products. Some claim that they are customer oriented and others say that they offer value to their customers. Still others say that they treat their customers as kings. These philosophies in relation to marketing are known as marketing concepts.

TYPES OF MARKETING CONCEPTS

COMPARISON BETWEEN SELLING AND MARKETING CONCEPT

DIFFERENCE BETWEEN TRADITIONAL AND MODERN CONCEPT

Traditional Concept Modern Concept

1. Focus is on product only

2. Objective is profit maximisation

3. Short-term oriented

4. Less promotional activities

5. Narrow concept

1. Focus is on customers’ needs and wants

2. Objective is customer satisfaction and

customer delight

3. Long term oriented

4. Sustained promotional activities

5. Border concept

RECENT TRENDS IN MODERN MARKETING:-

1. More Emphasis on Quality, Value, and Customer Satisfaction2. More Emphasis on Relationship Building and Customer Retention3. More Emphasis on Managing Business Processes and Integrated Business Functions4. More Emphasis on Global Thinking and Local Market Planning5. More Emphasis on Strategic Alliances and Networks6. More Emphasis on Direct and Online Marketing7. More Emphasis on Services Marketing8. More Emphasis on High-tech Industries9.More Emphasis on Ethical Marketing Behavior

CONCLUSION

Modern trends in marketing include relationship marketing, business or industrial marketing, and societal marketing . Modern marketing is also inseparable from the digital marketing. E-marketing and online marketing are essential tools for modern firms. Internet marketing is sometimes considered to be broad in scope, not only referring to the Internet, but also including e-mail and wireless media as well as driving audiences from traditional methods like radios and billboards to Internet properties or landing pages

THANK YOU…!!!