What is Marketing

• Selling• Advertising• Promotions• Making products available in stores• Maintaining inventories

All of the above ,plus much more!

Marketing…

Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas , goods, services to create exchanges that satisfy individual and organizational goals.

American Marketing Association

Marketing

Marketing management is the art and science of choosing target markets and getting, keeping and growing customers though creating, delivering and communicating customer value.

Marketing

Marketing is all about managing the four P’s-ProductPrice PlacePromotion

The Four Ps

MarketingMix

Product

Price Promotion

Place

CustomerSolution

CustomerCost

Communication

Conven-ience

Difference between-sales & Marketing?

SalesTrying to get the customers to want

what the Company Produces

MarketingTrying to get the company produce

what the customer wants

Scope – What do we market

• Goods• Services• Events• Experiences• Personalities• Place• Organizations• Properties• Information• Ideas and concepts

Core concept of Marketing

Based on:Need , Wants, Desires / DemandProduct, Utility, Value & SatisfactionExchange, transactions & RelationshipMarket, Marketing & Marketers

Simple Marketing System

Industry(a collection

of sellers)

Market(a collection

of Buyers)

Goods/services

Money

Communication

Information

Money

Communication

Information

Core concept of Marketing

Need – food (is a must)Want – Pizza, Burger, French fry’s (translation

of need as per our experience )Demand – Burger (translation of want as per

our willingness and ability to buy ) Desire – Have a burger in a five star hotel

Types of Marketing

• Promotions• Discount• Viral • Markets• Internet• Price• Advertising

Promotions

An action taken by a company's marketing staff with the intention of encouraging the sale of a good or service to their target market.

Discount

The condition of the price of a bond that is lower than par. The discount equals the difference between the price paid for a security and the security's par value.

Viral

Viral marketing assumes that as each new user starts using the service or product, the advertising will go to everyone with whom that user interacts.

Markets

A large self-service retail market that sells food and household goods

Internet Internet advertising, uses the Internet to deliver

promotional marketing messages to consumers. It includes email marketing, search engine marketing, social media marketing, many types of advertising and mobile advertising.

Price

Some products have less price as compare to their market competitors so the selling is more

$4.5$4.80

$5

Advertising

A notice or announcement in a public medium promoting a product, service, or event or publicizing a job vacancy.

Advantages of Marketing

• Increase sale• Awareness• Small businesses are closer to their customers.• dentifies needs and wants of consumers• determines demand for product• aids in design of products that fulfill

consumers

Disadvantages of Marketing

• Increase price of product . • identifies weaknesses in your business skills• leads to faulty marketing decisions based on

improperly analyzed data• creates unrealistic financial projections if

information is interpreted incorrectly• identifies weaknesses in your overall business

plan

Conclusion

• Marketing is managing profitable customer relationships. Today’s successful companies- whether small or large, for profit or non-profit, domestic or global- share a strong customer focus and a heavy commitment to marketing.

• The goal of marketing is to build and manage customer relationships. Marketing seeks to attract new customers by promising superior value and keep and grow current customers by delivering satisfaction. To be successful, companies will have to be strongly market focused.