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Concern,Nature and Importance of Marketing
Presentation byAjesh Mukundan P
09947426820
Marketing
‘Marketing is the management process
responsible for identifying, anticipating
and satisfying consumer requirements
profitably.’
-The Chartered Institute of Marketing
Identifying
'How do we find out what the consumer's requirements are?'
'How do we keep in touch with their thoughts and feelings and perceptions about our good or service.?
This is a key purpose of market research.
Anticipating - Consumer requirements change all the time.
For example, as people become richer they may
seek a greater variety of goods and services.
Anticipation involves looking at the future as
well as at the present. What will be the Next
Best Thing (NBT) that people will require
tomorrow.
Satisfying
- Consumers want their requirements to be
met. They seek particular benefits. They
want the right goods, at the right price, at
the right time in the right place.
Profitability - Marketing also involves making a margin
of profit. An organisation that fails to make a profit will have nothing to plough back into the future. Without the resources to put into ongoing marketing activities, it will not be able to identify, anticipate or satisfy consumer requirements.
What does a Marketer Do?
Why Bike?(Analyze Needs)
Bike Type (Product Plan)
Which people? (Segment)
What Quantity? (Demand Forecasting)
Where to Sell? (Distribution)
What to Charge? (Price)
What & how to inform? (Promotion)
Who all will compete (Analyze Competitors)
What is Marketed?
Goods
Services
Events & Experiences
Persons
Places & Properties
Organizations
Information
Ideas
Importance of Marketing
Importance of Marketing to Society Importance of Marketing to Companies Importance of Marketing to Consumers Importance of Marketing to Economy
Importance of Marketing to Society
Provides Employement Raises standard of living Reduces Cost Solves social problems Makes life easier
Importance of Marketing to Companies
Helps in Income generation Helps in Planning & Decision – making Helps in distribution Helps in exchanging information Helps adapt to changing environment Expands global presence Helps to earn goodwill
Importance of Marketing to Consumers
Provides quality product Provides variety of products Improves knowledge of consumers Helps in selection Consumer satisfaction
Importance of Marketing to Economy
Saves economy from depression Increase in National Income Economic growth Ploughing back if resources
Most pressing marketing concerns
Top concern is finding the right clients. Nearly 33
percent of the respondents cited a need to develop
marketing programs that attract good quality clients in
targeted niches.
> Develop structured marketing plans to access
your targeted markets, and then implementing these
plans.
Second most highly ranked issue is motivating firm
partners and staff to a sustained marketing effort (26.6
percent of respondents).
> Develop specific marketing plans.
Design customized marketing programs
Third major concern involved regular communications and follow-up with clients and potential clients (12.5 percent of respondents).
> Maintaining on-going communications programs
Constant communication is essential to
maintaining good business relationships
Fourth most mentioned marketing concern was firm visibility (10.9 percent of respondents)
> Increasing firm visibility might include public relations efforts
Sending substantive press releases and actively cultivating targeted media should be part of your marketing program.
Top things on the minds of 100 senior marketers who were asked to rank the issues that would have the greatest impact on their marketing decisions
Integrated Marketing Aligning marketing organization with innovation Building strong brands Consumer control over what and how they view
advertising Globalization of marketing efforts Growth of multi-cultural consumer segments Advertising creative that achieves business results Attracting and retaining top talent
Referrals http://www.marketingpower.com/
ResourceLibrary/Pages/default.aspx http://www.aicpa.org/pubs/tpcpa/oct97/
barchart.htm http://www.thetimes100.co.uk/theory/theory--
nature-role-marketing--245.php Philip kotler - marketing management (prentice
hall ptr, 2002 Kotler, Philip - Principles Of Marketing