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Technology
Subject Code : 150001
Name Of Subject : MANAGEMENT- 2
Name of Unit : INTRODUCTION TO
MARKETING
Topic : FOUR Ps of Marketing,Concepts
of Marketing
Name of Students: Agrawal Swapnil J.
CONTENTS
INTRODUCTION
What is Marketing?
Marketing Management
4 Ps of Marketing
Sub: MANAGEMENT-2
Function
Topic: Marketing
CONTENTS
Different Concept of Marketing
Introduction
The Marketing Concept
Core Marketing Concept
Management Orientation
Production Concept
Product Concept
Selling Concept
Marketing Concept
Holistic Concept
Societal Concept
Sub: MANAGEMENT-2
Function
Topic: Marketing
What is Marketing?
Marketing is managing profitable
customer relationships
Attracting new customers
Retaining and growing current
customers
Topic: Marketing
Marketing Management
Marketing management is
the art and science of choosing
target markets and building
profitable relationships with them.
Creating, delivering and
communicating superior
customer value is key.
Sub: MANAGEMENT-2
Function
Topic: Marketing
Marketing Management
Customer Management:
Marketers select customers that
can be served well and profitably.
Demand Management:
Marketers must deal with different
demand states ranging from no
demand to too much demand.
The 4 Ps of Marketing
Sub: MANAGEMENT-2
Function
Topic: Marketing
The 4 Ps of Marketing
4 Ps
Referred to as The Marketing Mix
All four are essential to the success of a
marketing plan for either a product or a
service
4 Ps stand for
Product
Price
Place
Promotion
Topic:
Sub:
A mixMANAGEMENT-2
of the four is necessary
toMarketing
sell a
Function
product
Price
Promotion
Sub: MANAGEMENT-2
Function
Topic: Marketing
Topic: Marketing
Topic: Marketing
Product
Features
How will your
Sub: MANAGEMENT-2
Function
Topic: Marketing
product/service
differ
from the competition
Product
Packaging if your selling a product what
image will the packaging communicate?
If a service how will the appearance of your
operation communicate an image about your
business
Sub: MANAGEMENT-2
Function
Topic: Marketing
Price
Marketing is responsible for establishing the
price of their service/product
Must consider the costs of all the inputs
(materials, labour, etc)
Mark-up Price How much profit do you want
to make on every product/customer
Example: Selling Cupcakes
Every cupcake uses $1 of materials and labour
roughly costs $0.25 to make one muffin
You must charge at least $1.25 to breakeven
Sub: MANAGEMENT-2
Function
Topic: Marketing
Price
The price of your product or service tells
the customer a lot about your product
2000 Rs.
Sub: MANAGEMENT-2
Function
5000 Rs.
Topic: Marketing
Price
Different Pricing Strategies
Competition basing your prices on those
of the competition
Topic: Marketing
Place
Simply refers to how & where you are going to
sell the product to the consumer
Direct Distribution selling your product
directly to the consumer
Brick & Mortar vs. Virtual Store
Indirect Distribution sold through a 3rd party
What retailers are the best for reaching your
Target Market?
Example: Selling protein powder where do I
sell?
Sub: MANAGEMENT-2
Function
Topic: Marketing
Place
For a service : where are you going to locate
in order to best reach your target market
You want to be in an area that
your target market frequents
Says something about your business
Notice how car dealerships are
always on the outskirts of
town or close to a highway?
Brantford Commons
Sub: MANAGEMENT-2
Function
Topic: Marketing
Promotion
A successful product or service means
nothing unless the benefit of that
product/service can be communicated to
the Target Market
There are many ways to get the word
out
How many can we think of...
Sub: MANAGEMENT-2
Function
Topic: Marketing
Promotion
Public
Relations
Advertising
Buzz
Sales
Sub: MANAGEMENT-2
Function
Topic: Marketing
Different Concept of
Marketing
Topic: Marketing
Different Concept of
Marketing
The marketing
concept
Customer focus
Profits
Integration of organizational
efforts.
Sub: MANAGEMENT-2
Function
Topic: Marketing
Different Concept of
Marketing
Customer orientation
Satisfying its customers at a profit
Determining the needs and wants of
target markets
Discovering the wants of a target
audience and then creating the goods
and services to satisfy them
Sub: MANAGEMENT-2
Function
Topic: Marketing
Different Concepts of
Marketing
Many Things Can Be Marketed!
Goods
Services
Experiences
Events
Persons
Sub: MANAGEMENT-2
Function
Places
Properties
Organizations
Information
Ideas
Topic: Marketing
Sub:
Function
Value and
satisfaction
Exchange,
transactions
and
relationships
Markets
Topic: Marketing
Production
Selling
concept
concept
Product
Marketing
Holistic Marketing concept
concept
concept
Societal Marketing concept
Sub: MANAGEMENT-2
Function
Topic: Marketing
PRODUCTION CONCEPT
PRODUCT CONCEPT
A firm employing a product orientation is
chiefly concerned with the quality of its own
product.
Sub: MANAGEMENT-2
Function
Topic: Marketing
SELLING CONCEPT
TheMARKETING
'marketing orientation'
is perhaps
CONCEPT
the most common orientation used in
contemporary marketing.
It involves a firm essentially basing its
marketing plans around the marketing
concept, and thus supplying products to suit
new consumer tastes.
E.g. a firm would employ market research
to gauge consumer desires , use R&D to
develop a product attuned to the revealed
information, and then utilize promotion
Sub:
MANAGEMENT-2
Topic: Marketing
techniques
to ensure persons
know the
Function
product exists.
CONCEPT
The HOLISTIC
holistic marketing concept looks at
marketing as a complex activity and
acknowledges that everything matters in
marketing - and that a broad and integrated
perspective is necessary in developing,
designing and implementing marketing
programs and activities.
The four components that characterize
holistic
marketing
are
relationship
marketing, internal marketing, integrated
marketing,
and
socially
responsive
marketing.
Sub: MANAGEMENT-2
Function
Topic: Marketing
SOCIETAL CONCEPT
REFERENCES
Books:1.Management-2
Second
Edition
by
Publication
2.Management-2
By Mahajan Publication
Web Resources:1.Google
2.Wikipedia
Pearson
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