Marketing Basics

What is Marketing?
American Marketing Association(AMA) define
marketing as
an organisational function and a set of
processes for creating, communicating and
delivering value to customers and for managing
customer relationships in ways that benefit the
organisation and its stakeholders.

Marketing Management is defined as
the art and science of choosing target markets
and getting, keeping and growing customers
through creating, delivering and communicating
superior customer value.
Evolution and Orientation
Production
Concept
Product
Concept
Selling
Concept
Marketing
Concept
Integrated
Marketing
Concept
Relationship
Marketing
Concept
Holistic
Marketing
Concept
Value as centre
3Vs
Kumars view :
value segment (need)
value proposition
value network
Websters view :
value defining process
value developing process
value delivering process
Value Chain
Core Competence
3 characteristics:
is a source of competitive advantage in that it
makes a significant contribution to perceived
customer benefits
has applications in wide variety of markets
difficult for competitors to imitate
Strategic Tools
Macro Environmental study (PESTEL Analysis)
Industry Analysis ( Porters Diamond)
Market Dynamics (Ansoffs Matrix)
Portfolio Study (BCG, GE)

Data Systems
Marketing Information Systems
Sales Information Systems
Marketing Intelligence Systems
Understanding Business
Environment
Macro-environment
Needs & Trends
Demographics
Economics
Socio-Cultural
Natural
Legal- Political
Technological
The Marketing Research Process
Characteristics of Good
Research
Scientific Method
Research Creativity
Multiple Methods
Interdependence
Value & Cost of
Information
Healthy Skepticism
Ethics
Marketing Productivity
Marketing Metrics
Marketing mix Modeling



Marketing Dashboard
customer performance
stakeholder performance
Market Demand
Potential
Market
Available
market
Target
market
Penetrated
Market
Customer Value
Customer
Perceived
Value
Customer Loyalty Ladder
Consumer Behavior
Personality & Self Concept
Consumer Behavior Model
Psychological Processes affecting
Buying Behavior

Motivation
Maslows Hierarchy
Freuds Theory
Herzbergs Theory

Perception
Learning
Memory
Buying Behavior
Buying Decision Process
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