Marketing Management

By
Prof. Sonia Pereira
 Marketing : Definition
• Marketing is defined by the American Marketing Association as "the
activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value
for customers, clients, partners, and society at large.”
• Philip Kotler defined marketing as "Satisfying needs and wants
through an exchange process" and a decade later defines it as “a
social and managerial process by which individuals and groups obtain
what they want and need through creating, offering and exchanging
products of value with others.
 UNDERSTANDING THE CONCEPT OF NEEDS,
WANTS & DEMANDS
Needs: Something necessary for people to live a healthy, stable and safe life.
When needs remain unfulfilled, there is a clear adverse outcome: a
dysfunction or death. Needs can be objective and physical, such as the
need for food, water, and shelter; or subjective and psychological, such as
the need to belong to a family or social group and the need for self-
esteem.
Wants: Something that is desired, wished for or aspired to. Wants are not
essential for basic survival and are often shaped by culture or peer-
groups.
Demands: When needs and wants are backed by the ability to pay, they have
the potential to become economic demands.
Concept Of Marketing Communication
Fundamental Concepts of Marketing
4 P’s & 4 C’s Of Marketing
CONCEPT OF BRAND & PRODUCT
 Service Marketing
• Service marketing is marketing based on relationship and value. It
may be used to market a service or a product. With the increasing
prominence of services in the global economy, service marketing has
become a subject that needs to be studied separately. Marketing
services is different from marketing goods because of the unique
characteristics of services namely, intangibility, heterogeneity,
perishability and inseparability.
• The American Marketing Association, defines services as activities,
benefits, or satisfactions that are offered for sale or provided with
sale of goods to the customer, that is, pre-sale and after-sales
services. Berry states, ‘while a product is an object, devise or physical
thing, a service is a deed, performance, or an effort’.
7 P’s Of Service Marketing
7P’s Of Marketing
 Marketing Environment
Macro
Environment

Micro
Environment
PEST & PESTEL Analysis
SWOT Analysis
Example Of SWOT Analysis
Product Life Cycle
Product Life Cycle
 New Product Development
New product development. New product development (NPD) is the
process of bringing a new product to the marketplace. ... product
innovations created and brought to the market for the first time. They
may be completely original products, or existing products that you
have modified and improved.
 Market Research
Marketing research is "the process or set of processes that links the
producers, customers, and end users to the marketer through
information used to identify and define marketing opportunities and
problems; generate, refine, and evaluate marketing actions; monitor
marketing performance; and improve understanding of marketing as a
process. Marketing research specifies the information required to
address these issues, designs the method for collecting information,
manages and implements the data collection process, analyzes the
results, and communicates the findings and their implications.
Types Of Market Research:
(1) secondary research
(2) surveys
(3) focus groups
(4) interviews
(5) observation
(6) experiments/field trials
The most basic classification of market research is primary and secondary
research.

Marketing Research Design:

• Exploratory
• Descriptive
• Causal
Porter’s 5 Force Model