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Basics of marketing

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Basics of marketingBasics of marketing

1 What is marketing?1 What is marketing?

Marketing is typically seen as the task of creating, Marketing is typically seen as the task of creating, promoting and delivering goods and services to promoting and delivering goods and services to consumers and businesses.consumers and businesses.

Can you give some examples of marketing from daily Can you give some examples of marketing from daily

life experiences?life experiences?

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Basics of marketing

1 What is marketing?

Definition of marketing:Marketing is a societal process by which the individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others.

ORMarketing is 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 goals.

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Basics of marketing

1 What is marketing?

Definition of marketing (cont…):

ORMarketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationship in ways that benefit the organization and its stakeholders.

Marketing is changing behavior?

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Basics of marketingAre all customers similar?

Motorcycle buyers ---

Why do they buy?A typical Hero Honda Splender customer Vs Pulsar

Customer?

What is the marketers difficulty if customers are different?

Would it be better for marketers if all customers were similar?

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Basics of marketing

2 Core marketing concepts

1 Industry 2 Market 3 Marketer 4 Prospect 5 Needs6 Wants

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Basics of marketing

2 Core marketing concepts

7 Demands8 Product9 Offering10 Brand11 Value12 Costs

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Basics of marketing3 The concept of target markets and segmentation:

Different customers respond to the same marketing stimuli differently. Some have similar needs and some have divergent needs and preferences.

The customers who have similar needs and respond to the marketing stimulus similarly are called segments.

Segments, which can be gainfully addressed by a marketer is called Target market.

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Basics of marketing

4. Exchange For an exchange to take place, the following are required:

a. Two partiesb. Each having something, which is of value to otherc. Each party capable of communicating & delivery.d. Each party is free to accept or reject the offer made by other.

e. Each party willing to deal with other.

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Basics of marketing

5. What can a marketer do? What are their operational levers?

Marketing mix - Four P’s of marketing.

Product, Price, Promotion and Place.

What is the difference between marketing and sales?

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Basics of marketing

6. Some background information about the discipline

Price and demand – derivation from economics.

How consumers behave – derivation from psychology

How intermediaries behave – psycho – social – commercial

Business to customer marketing – FMCG

Business to business Marketing – Industrial Products

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What is the difference between B2B and What is the difference between B2B and B2C marketing?B2C marketing?

BusinessBusiness /IndustrialCustomer

Customer

NOTION OF B 2 B 2 C

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What is Industrial Marketing - Concept

Industrial marketers job is to…

Facilitating exchange with these customers

and the basis is …

Achieving organizational goals of both.

Industrial customers ( business, institutions, govt. agencies ) areOrganizations with unique needs.

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Specific skills required in B2B

1. Personal selling skills.

2. Presentation skills.

3. Conceptual understanding of the entire marketing process and its application.

4. Sometimes even technical skills (Selling industrial boilers)