Scope of Marketing

What is Marketing ?

‘Marketing is Meeting needs Profitably’

Definition: Marketing is the activity, Set of Institutions and process for creating,

communicating , delivering and exchanging offerings that have value for customers, clients, partners and

society at large

‘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’

‘Marketing is a societal process by which individuals and groups obtain what they want through creating, offering and freely exchange of products and services of value with others’

What is Marketed ?

GOODSCars

WatchesTelivision setsMachine tools

CosmeticsIndustrial Chemicals

SERVICESSoftware Programmers

Car Rental FirmsAir Lines

HotelsBanks and Lawyers

Barbers and BeauticiansManagement Consultant

EVENTSArtistic Performance

OlympicsWorld Cup

Major Trade EventsCompany Anniversaries

EXPERIENCES Amusement Park

Water ParkTheme-Based Restaurant

PERSONSArtistsCEOPhysiciansFinanciersProfessionalsCelebrity Marketers

PLACESNational ParksWild Life SanctuariesReligious PlacesScenic BeautyRich History

PROPERTIESReal Estate Property

Stocks and BondsBank Market SecuritiesInvestment Companies

ORGANISATIO

N

INFORMATION Production, Packing and Distribution

InformationInformation in Books

Information on Lab Tests

IDEAS

Who Markets ?

‘A marketer is some one who seeks a response-attention to purchase ,a

vote ,a donation- from another party called a Prospect’

They seek to influence the level, timings and composition of demand

to meet organisations objectives

Eight Kinds of Demand

Negative DemandNon Existent Demand

Latent DemandDeclining DemandIrregular Demand

Full DemandOverfull Demand

UnWholesome Demand

CUSTOMER MARKET“Companies selling mass consumer goods

and services spend a great deal of time establishing a strong brand image by

developing superior products and packaging, ensuring its availability and

backing it with reliable services”

BUSSINESS MARKETS Business buyers buy goods to make or resell a product to others at a profit Business marketers must demonstrate how their products help achieve higher revenue or lower costs

GLOBALMARKETSCompanies in global Market Place must

decide which country to enter,how to each sector, how to adapt to

products and service features, how to price products, how to design

communication for different cultures

NON PROFIT AND GOVERNMENT MARKETS

Companies selling to non profit organisations with limited purchasing power such as temples, churches and government organisations must price carefully

Most government organisations calls for bid and favour the lowest bid

•Market Place is physical such as a store or shop•Market Space is digital as when you shop on internet•Meta Markets is a cluster of complementary products closely related in the minds of consumers but spread across a diverse set of industries

ReCap• What is marketing?• What is marketed?• Who markets?• Key Customer Markets

“Created by Sai Srujan,RGIPT

RaeBareli, during an internship by Prof. Sameer Mathur,IIM

LUCKNOW”