unit 401 marketing topic 1

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UNIT 401 cbs mba

pRogramMARKETING

TOPIC 1: THE DISCIPLINE OF

MARKETING

Business has only two functions: marketing and innovation- Milan Kundera, author of The Unbearable Lightness of Being


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INTRODUCTIONvMarketing is a process that matches the wants& needs of customers with an organization'sability to meet them by providing appropriategoods & services

vDoes this through exchange of value betweenthe organization & customer

vProvides important interface between theorganization & its customers


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UNIT OUTLINE

vMeaning ofMarketing Philosophy

vHow marketing is a process ofmatchingorganization's resources with customer needs &creating value for both

vRole of each of the elements ofMarketing Mix

vMarketing strategy&planning process

vApply various Marketing Analysis Tools &Techniques to develop marketing objectives

How to conduct Marketing Audit


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.contd

vImportance of developing& sustaining competitive

advantage

vApproaches tosegmenting markets,

identifying target markets


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vMeaning of marketing as a philosophy

vWhat is marketing & why it is needed

vKey differences between marketing

concept & other business orientations

vFour characteristics of marketing-

oriented organization


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vElements of marketing mix

vKey differences between marketingtangible goods & services

vKey differences between business-to-business (B2B) & business-to-consumer (B2C) marketing


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Marketing Trends

Three key trends that have triggered theincreased of marketing are:

Increasing Competition

Increasing consumer choice & consumerpower

Technology & access to information


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3/26/13 Marketing: APhilosophyvAccording to Philip Kotler:

In the 21st centurymarketing must be

understood not in the oldsense of making a sale -telling & selling but inthe new sense ofcreating

valuethrough interacting& working with thecustomer.vA marketing philosophy is achieved through

a balanced, planned & integrated use of the

marketing mix.

X


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What is Marketing?

vMarketing is a social and managerialprocess by which individuals and groupsobtain what they need and want through

creating and exchanging products andvalue with others.Kotler

vExchange of value isan important concept


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3/26/13 What is Marketing?contdvTo be successful the organizationneeds to:

CreateCommunicate

Deliver

Sustain


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What gets Marketed?

vGoods

vServices

vEvents

vExperiences

vPeople

vPlaces

vProperties

vOrganizations

v Information

v Ideas


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What do Marketers do?

vBasic activities that marketersengage in are:

Segmenting the market

Targeting the various segments

Creating & communicating valueThe job of marketing is to make salessuperfluous- Peter Drucker


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Why do we need marketing?

vShifting business paradigms

Sellers markets

Buyers markets


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3/26/13 Business Orientations inMarketing

vProduction Orientation or Production Concept

vProductOrientation or Product Concept

vSales Orientation or Sales Concept

vMarketing Orientation or Marketing Concept

vSocietal Orientation or Societal Marketing

Conce t

/ /


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Characteristics of Marketing-

Oriented Organization Customer Satisfaction is

a central focus

Products are defined by

customer needs

Marketing is integrated

across the organization

Marketing Intelligence is

DrillBit

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process

ORGANIZATIONRESOURCES CUSTOMERWANTS &NEEDS

THE MARKETING ENVIRONMENT

MATCHING

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vCustomer Wants & Needs

Need: A state of felt deprivation

Want : The form that a humanneed takes as shaped by cultureand individual personality.People have narrow basic needsbut almost unlimited wants.

Demands: Human wants that

Customeris the controlling factorin the process

Customers buy things they perceive that theyneed or want

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contdvThe Organizations Resources

Organizations ability to identify & satisfya particular consumer need by creating an

offer

Resources include its skills, knowledge &

creative capacity, its reputation, tangible& intangible assets

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contdvThe Marketing Environment

Economic

Political

Socio-cultural

Technological

Legal

Natural environmental

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contdvThe Matching Process

Includes all those activities that lead tocustomer purchases of the organizations

products or take-up of its offerings

For Profit & Not-For-Profit marketing

A nonprofit organization markets the work it doesor the cause it supports, instead of a product orservice

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The marketing mix

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3/26/13 The marketing mixcontd

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3/26/13 The marketing mixcontd

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MARKETING GOODS

vGoods Marketing relates to selling physicalproducts.

Durable goods are physical goods used

over an extended time.

Nondurable goods are consumable

products made from materials other thanmetal, wood, and hard plastics.

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MARKETING SERVICES

vServices Marketing includes rented-goodsservices, owned-goods services, andnongoods services.

Rented-Goods Services: leasing auto,hotel room, office space, wedding items

Owned Goods Services: auto orcomputer repairs, lawn care & home care

Non-goods Services: personal advice,

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3/26/13 MARKETING to consumers &businessesvBusiness-to-business (B2B) market issignificantly larger than the consumer market.

vBusiness-to-business (B2B) marketingOrganizational sales and purchases of goodsand services to support production of otherproducts, to facilitate daily companyoperations, or for resale.

vExample: Caterpillar, which makes

construction and mining equipment.

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http://www.cat.com/http://www.cat.com/


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unit 401 marketing topic 1

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