Marketing Introduction.

M.S.R.Sesha Giri. MBA

Assistant Professor
Department of Management Studies
Gayatri Vidya Parishad-45.
Philip Kotler
Marketing Guru.
•The term ‘market’ is derived from the Latin word
‘mercatus’, which means ‘to trade’ .

•It also means merchandise, ware traffic and

place of business.
 The Chartered Institute of Marketing defines
marketing as follows:
“Marketing is the management process
for identifying, anticipating & satisfying
consumer’s requirements profitably.”

American Management Association is as follows:

“Marketing is the process of planning and executing the conception,
pricing, promotion & distribution of ideas, goods & services to create
exchanges that satisfy individual and organizational objectives.”
The follow successful exchange Needs

At least two parties must be involved.

Each party must have something that interests the

other party.

Each party must be able to communicate and deliver.

Each party must be free to accept or reject any offer

from the other party.

Each party must consider it desirable, or at least

acceptable, to deal with the other party.
 Marketing Concepts

The Exchange Concept:

Holds that the exchange of a product between the seller and the
buyer is the central idea of marketing.

Exchange covers the distribution aspect and the price mechanism

involved in marketing .

The Production Concept. (industrial revolution, and remained such until the early 20th century.)

Holds that customers favour those products with low offer price and
easy availability.
•
Holds that high production efficiency and wide distribution
coverage would sell the product offered to the market.
The Product Concept:

Holds that customer favours quality, performance, innovative

features etc.

Firms following this philosophy believe that by making superior products

and improving their quality overtime, they will be able to attract
customers.

The Selling Concept: (early 20th century)

Holds that customer, if left alone, would not buy enough of the
company’s products.

The organisation must, therefore undertake an aggressive selling and

promotion effort
Marketing Concept(1950s-60s)
T

•Holds that marketing starts with the determination of consumer wants

• and ends with the satisfaction of those wants.

•The concept puts the customer both at the beginning and at the end.

•The Societal Marketing Concept: This concept holds that the organization's task
• is to determine the needs, wants and interests of target markets and do deliver the
•desired satisfactions more effectively and efficiently than competitors in a way that
•preserves or enhances the consumer’s and the society’s well-being.

•The societal marketing concept calls upon marketers to build social and ethical
•considerations into their marketing practices. They must balance the often
• conflicting criteria of company profits, consumer want, satisfaction and public
• interest.
Concepts or Stage 1 Stage 2 Stage 3 Result of Profits
Philosophies Stage 1-3

Production Vague idea Mass Mass Product Profit through

Concept about Production Production availability at a mass
customer low price standardization
wants

Product Vague idea Superior Distribution Superior Profit through

Concept about product by without performance marketing
customer R&D proper product myopia
needs marketing availability
mix

Selling Vague idea Mass Maximum Product Profit through

Concept about production use of availability hard-sell
customer and selling buyer inertia
needs distribution technique

Marketing Analyse Know what Integrated Product as per Profit through

Concept target market customer marketing customer customer
needs requirements satisfaction

Social Analyses Study Integrated Product as per Profit through

Marketing target market customer market with customer human
Concept and know needs in ecological requirements satisfaction
customer the light of constraints and ecological
needs ecological constraints
impurities
 Functions of Marketing

G.B. Giles described seven functions of marketing:

(1) Marketing Research,

(2) Marketing planning,
(3) Product development,
(4) Advertisement and sales promotion,
(5) Selling and distribution,
(6) After sale services and
(7) Public relations.

Tousley,Clark and Clark, have described eight functions of

marketing:

(1) Purchasing,
(2) Standardization,
(3) Collection,
(4) Transportation,
(5) Finance,
(6) Risk bearing,
(7) Marketing promotion and (8) Sales.