MARKETINGA HOLLISTIC VIEW

BY MIDUL .K

INTRODUCTION

Marketing is one of the crucial factor in the success of a business. It is a more of a humanistic view rather than a selling perspective. Marketing has helped introduce and gain acceptance of new products that have eased or enriched peoples lives.

and now this presentation has a keen concern and focus on the different factors and elements which supports and enhance the efficiency of marketing as well as their apt application inside a business.

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.”

- American Marketing Association

MARKETING VS SELLING

Marketing

Emphasis on consumer needs and wants.

Long run oriented planning.

Views business as consumer satisfying process.

Emphasis on innovation and quality products and services.

Providing better cost value by adopting superior technologies.

Consumer determines prices, price determines cost

Views customers as the very purpose of the business existance.

MARKETING VS SELLING

Selling

Selling views customer as the last link in business.

Emphasis is on products.

Planning is short run oriented in terms of today's markets and products.

Stresses needs of the seller

Greater concern on staying on the same technology and reducing cost.

Company manufactures product first and sells them.

KEY CONCEPTS

Market Environments.

Segmentation, Targeting & Positioning.

7 P`s.

Product Life Cycle.

New Product Development.

Ansoff Matrix.

MARKETING ENVIRONMENT

o Marketing environment is basically the surrounding factors which effects the business.

o There are two key elements to the marketing environment which are the Micro-environment and the Macro-environment.

o  The Micro environment refers to the forces that are close to the company and affect its ability to serve its customers.

EG : suppliers, marketing intermediaries, customer markets and public.

o The Macro-environment refers to all forces that are part of the larger society and affect the micro-environment.

EG :  demography, economy, natural forces, technology, politics, and culture.

SEGMENTATION,TARGETING & POSITIONING

“The process of splitting a market into smaller groups with similar product needs or identifiable

characteristics, for the purpose of selecting appropriate target markets.”

- Segmentation

“An organization’s proactive selection of a suitable market segment (or segments) with the intention of heavily focusing the firm’s marketing offers and activities towards this

group of related consumers” -

Targeting

“Positioning is the target market’s perception of the product’s key benefits and features,

relative to the offerings of competitive products”

- Positioning

THE 7 P`S

PRODUCT LIFE CYCLE

INTRODUCTIONThis stage of the cycle the product have been introduced to the market hence will be highly expensive for a company launching a new product.

GROWTHThe growth stage is typically characterized by a strong growth in sales and profits, and because the company can start to benefit from economies of scale in production

MATURITYDuring the maturity stage, the product is established and the aim for the manufacturer is now to maintain the market share they have built up.

DECLINEEventually, the market for a product will start to shrink, and this is what’s known as the decline stage. This shrinkage could be due to the market becoming saturated

NEW PRODUCT DEVOLOPMENT