session 6- fundamentals of marketing
DESCRIPTION
Session 6- Fundamentals of Marketing. Marketing-Definition. - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/1.jpg)
Session 6- Fundamentals of
Marketing
![Page 2: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/2.jpg)
![Page 3: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/3.jpg)
Marketing-Definition Marketing is the process used to determine what
products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.
Marketing is used to identify the customer, satisfy the customer, and keep the customer. With the customer as the focus of its activities, marketing management is one of the major components of business management
![Page 4: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/4.jpg)
OLD MARKETING
PRODUCT
PACKAGING
DISTRIBUTION
CRM
ADVERTISING
CONSUMER
![Page 5: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/5.jpg)
MODERN MARKETING
PRODUCT
PACKAGING
DISTRIBUTION
ADVERTISING
CONSUMER
CRM
![Page 6: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/6.jpg)
![Page 7: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/7.jpg)
![Page 8: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/8.jpg)
![Page 9: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/9.jpg)
![Page 10: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/10.jpg)
Marketing Functions
Environmental Analysis and Marketing Research
Consumer Analysis Product Planning Distribution Planning Price Planning Promotion Planning Broadening the
Organization’s/Individual’s Scope Marketing Management
![Page 11: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/11.jpg)
Problem Identification Research
• Market Potential Research
• Market Share Research• Image Research• Market Characteristics
Research
• Forecasting Research• Business Trends
Research
Marketing Research
A Classification of Marketing Research
Problem Solving Research
•Segmentation Research
•Product Research•Pricing Research•Promotion Research•Distribution Research
![Page 12: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/12.jpg)
Environmental Analysis/ Marketing Research
ExerciseINDIAN PRIEMIER LEAGUE
![Page 13: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/13.jpg)
Indian Premier League
![Page 14: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/14.jpg)
Indian Premier League
![Page 15: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/15.jpg)
4 Ps of Marketing
![Page 16: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/16.jpg)
4 Ps of Marketing• A marketer’s task is to build a marketing program
or plan to achieve the company’s desired objectives.
• The marketing mix is the set of marketing tools the firm uses to pursue its marketing objectives in the market.
• These tools are broadly classified into four groups namely, product, price, place and promotion.
• These are called the 4Ps of marketing.
![Page 17: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/17.jpg)
Product
Product variety Quality Design Features Brand name Packaging Sizes Services Warranties Returns
![Page 18: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/18.jpg)
Price
List price
Discounts
Allowances
Payment period
Credit terms
![Page 19: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/19.jpg)
Place Channels
Coverage
Assortments
Locations
Inventory
Transport
![Page 20: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/20.jpg)
Promotion Sales promotion
Advertising
Sales force
Public relations
Direct marketing
![Page 21: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/21.jpg)
The marketing mix decisions must be made for influencing the trade channels as well as the final customers.
The company prepares an offering mix of products, services and price.
The company utilizes a mix of sales promotion, advertising, sales force, public relations, direct mail, telemarketing and internet to reach the trade channels and target customers.
![Page 22: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/22.jpg)
The firm can change its price, sales force size and advertising expenditures in the short run. It can develop new products and modify its distribution channels only In the long run.
Thus the firm typically makes a fewer period-to-period changes in the short run than in the number of marketing-mix decision variables might suggest.
![Page 23: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/23.jpg)
23
LAW OF FEW
10% INFLUENCE PURCHASING BEHAVIOR OF OTHER 90%
![Page 24: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/24.jpg)
2001
20072005
2004
1999
20062005
![Page 25: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/25.jpg)
Marketing Strategy
If a firm wants success in marketing efforts, it must formulate an appropriate and effective strategy or policy for its products. Marketing Strategy is the techniques which a firm adopts to counteract the marketing changes.
![Page 26: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/26.jpg)
1989
![Page 27: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/27.jpg)
![Page 28: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/28.jpg)
Marketing Mix
![Page 29: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/29.jpg)
![Page 30: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/30.jpg)
Marketing Mix
The Product Mix Strategies. Decisions about packages, design, warranties, Product life cycle and new product development.
The Place or Distribution Mix Strategies. Involves the physical distribution of goods and the selection of marketing channels
![Page 31: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/31.jpg)
Marketing Mix
The Promotion Mix Strategies. Activities relating to personal selling, advertising and sales promotion tools.
The Price Mix Strategies. Method of selling profitable and justifiable prices. Value of money. Involves discount, mark ups, services offered, sales tax, cost of goods sold, etc.
![Page 32: Session 6- Fundamentals of Marketing](https://reader036.vdocuments.us/reader036/viewer/2022062501/5681688c550346895ddf0e18/html5/thumbnails/32.jpg)
Thank you