1. GALGOTIAS BUSINESS SCHOOL
Submitted to: Submitted By:
Prof. SAMARTH SHARMA PRASHANT
KUMAR
MARKETING
MANAGEMENT

2. MARKETING
 Marketing is a
process that depends
on customer’s needs
& demands. And
needs & demands are
dynamic that changes
time to time so
marketing definition
change according to
time period.

3. Marketing definition
1 According to my opinion the best definition of
marketing.
“Marketing is a process of identifying,
satisfying and retaining customers profitably”
2 According to American Marketing Association
new definition of marketing.
“Marketing is 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.”

4. Marketing definition contd.
 American marketing association old definition for
marketing.
“Marketing is an organizational function and a set of
processes for creating, communicating, and
delivering value to customers and for managing
customer relationships in ways that benefit the
organization and its stakeholders.”
Another definition-
The process of planning and executing the
conception, pricing, and distribution of ideas, goods,
and services to create exchanges that satisfy
individual and organizational objectives.

5. ABOUT MARKETING
* The marketing process is central to the
business performance of companies, large
and small, because it addresses the most
important aspects of the competitive
marketplace.
* It’s a bit of a mouthful, but it highlights that the
customer is at the heart of marketing, and
businesses ignore this at their peril.
* In essence, the marketing function is the study
of market forces and factors and the
development of a company’s position to
optimise its benefits from them.

6. ABOUT MARKETING
 It is all about getting the right product or
services to the customer at right price, in the
place, at the right time.
 Both business history and current practice
remind us that without proper marketing,
companies cannot get close to customers and
satisfy their needs. And if they don’t, a
competitor surely will.

7. ABOUT MARKETING
 successful marketing depends up on addressing
a number of key issues. These include:-
 What a company is going to produce
 How much it is going to charge
 How it is going to deliver its products or services
to the customer
 How it is going to tell its customers about its
products and services.
 These consideration is known as 7 p’s of
marketing and it is also known as marketing mix

8. ABOUT MARKETING
 Marketing constitutes just one of the functions
available to every business. Along with
research, production, finance, accounting, and
a myriad of other functions, marketing
contributes to the ability of a business to
succeed.
 There is a long-standing myth that marketing is
easy. But after knowing the concept of
marketing , you may conclude that marketing
is interesting, fun challenging—even vague-
but it is not easy.

9. About marketing
 Marketing is most successful when the
philosophy, tasks, and manner of
implementing available technology are
coordinated and complementary.
 “Find and keep customer” is the main motive
of marketing.

10. Types Of Marketing
 Different author divides marketing in different
way and here we are giving details about in two
way.
 According to Tangibility, standardization, storage,
production, involvement.
1. Goods marketing – ex- manufacturing company
2. Services marketing- ex – banking sector

11. Types Of Marketing
 According to nature of contact, information,
process for purchasing and delivery.
1. Mass marketing – ex- sony
2. Direct marketing-ex- magazine
3. Internet marketing- ex- flipkart.com

12. Types Of Marketing
 According to geographic area, extent of
distribution, network, marketing variation
commitment to country.
1. Local marketing
2.Regional marketing
3.National marketing
4.International marketing
5.Global marketing

13. Details About Types Of
Marketing
1 .Mass Marketing- Mass marketing is distinguished
from direct marketing in terms of the distance between
the manufacturer and the ultimate user of the product.
Mass marketing is characterized as having wide
separation and indirect communication. A mass
marketer, such as Nike, has very little direct contact
with its customers and must distribute its product
through various retail outlets alongside its
competitors. Communication is impersonal, as
evidenced by its national television and print
advertising campaigns, couponing, and point-of-
purchase displays. The success of mass marketing is
contingent on the probability that within the huge
audience exposed to the marketing strategy.. there
exist sufficient potential customers interested in the
product to make the strategy worthwhile.

14. Details About Types Of
Marketing
2. Direct Marketing- Direct marketing establishes a
somewhat personal relationship with the customer
by first allowing the customer to purchase the
product directly from the manufacturer and then
communicating with the customer on a first-name
basis. This type of marketing is experiencing
tremendous growth. Apparently, marketers have
tired of the waste associated with mass marketing
and customers want more personal attention.
Also, modem mechanisms for collecting and
processing accurate mailing lists have greatly
increased the effectiveness of direct marketing.

15. Details About Types Of
Marketing
 Internet Marketing - Internet marketing is a
type of direct marketing, it has evolved so
quickly and demanded the attention of so
many companies that a separate section here
is warranted. Essentially, Internet technology
(which changes by the moment) has created a
new way of doing business. Flipkart.com,
Watchkart.com is the best example of e-
business.

16. Marketing Mix & 4 p’s
 It is the same with the
marketing mix.
 The offer you make to
your customer can be
altered by varying the
mix elements.
 So for a high profile
brand, increase the
focus on promotion
and desensitize the
weight given to price

17. Marketing Mix
 Customizing your offer to your customer by
varying the mix elements.
 The Marketing Mix is like the artist's palette.
 The marketer mixes the prime colors (mix
elements) in different quantities to deliver a
particular final color.
 Every hand painted picture is original in some
way, as is every marketing mix.

18. Extended Marketing Mix
 Booms and Bitner
included three
additional 'Ps' to
accommodate
trends towards a
service or
knowledge based
economy:
 People
 Process
 Physical Evidence

19. The Marketing Mix

20. 7Ps & 7Cs
The 7 Ps The 7 Cs
Organisation
Facing
Customer Facing
Product = Customer/ Consumer
Price = Cost
Place = Convenience
Promotion = Communication
People = Caring
Processes = Co-ordinated
Physical Evidence = Confirmation

21. The Marketing Mix
 The tools available to a business to gain the
reaction it is seeking from its target market in
relation to its marketing objectives
 7Ps – Price, Product, Promotion, Place, People,
Process, Physical Environment
 Traditional 4Ps extended to encompass growth
of service industry

22. PRICE

23. PRICE
A product is only worth what customers are
prepared to pay for it. The price also needs to
be competitive, but this does not necessarily
mean the cheapest; the small business may
be able to compete with larger rivals by adding
extra services or details that will offer
customers better value for money. Your pricing
must also provide a profit. It is the only
element of the marketing mix that generate
revenue, everything else represents a cost.

24. PRICE
 Thinking of price as ‘cost’ to the customer helps to
underscore why it is so important.
 Price positions you in the market place – the more
you charge, the more value or quality your
customers will expect for their money.
 Existing customers are generally less sensitive
about price than new customers, a good reason
for looking after them well.
 If you decide in favour of a higher priced added-
value approach, remember that price ‘positions’
you in the marketplace.

25. Different parts of Pricing
 Price Skimming – An approach under which a
producer sets a high price for a new high-end
product (such as an expensive perfumes) or a
uniquely differentiated technical product. Its
objective is to obtain maximum revenue from
the market before substitutes products appear.
After that is accomplished, the producer can
lower the price drastically to capture the low-
end buyers and to thwart the copycat
competitors.

26. Different parts of Pricing
 Penetration pricing - A marketing strategy used
by firms to attract customers to a new product
or service. Penetration pricing is the practice of
offering a low price for a new product or
service during its initial offering in order to
attract customers away from competitors. The
reasoning behind this marketing strategy is
that customers will buy and become aware of
the new product due to its lower price in the
marketplace relative to rivals.

27. Different parts of Price
 Psychological pricing- Setting prices
according to the psychographics of the aimed-
at market segment.
 Cost-plus pricing- One method used by
businesses to determine how to price goods
and services. This type of pricing includes the
variables costs associated with the goods, as
well as a portion of the fixed costs of operating
the business.

28. Pricing Strategy
Importance of:
 knowing the market
 elasticity
 keeping an eye
on rivals

29. PRODUCT

30. PRODUCT
 There is no point in
developing a product or
service that no one wants
to buy, yet many
businesses decide what to
offer first, and then hope to
find a market fir it
afterwards. In contrast, the
successful company will
find out what customers
need or want and then
develop the right product
with the right level of
quality to meet those
needs now and in the
future.

31. PRODUCT
 The perfect product must provide value for the
customer. This value is in the eye of the
beholder, we must give our customer what
they want, not what we think they want.
 A product does not have to be tangible, an
insurance policy can be a product.
 You need a system in place to regularly check
what your customers think about your product,
your supporting services.

32. Product
 Methods used to
improve/differentiate
the product and increase
sales or target sales more
effectively to gain
a competitive advantage e.g.
 Extension strategies
 Specialised versions
 New editions
 Improvements – real or
otherwise!
 Changed packaging
 Technology, etc.

33. Promotion

34. PROMOTION
Promotion is the way a company
communicates what it does and what it can
offer customers. It includes activities such as
branding, advertising , PR, corporate identity,
sales management, special offers and
exhibitions. Promotion must gain attention, be
appealing, tell a consistent message and
above all else give the customer a reason to
choose your product rather than someone
else’s.

35. PROMOTION
 Good promotion is not one-way
communication, It paves the way for dialogue
with customers.
 Promotion should communicate the benefits
that a customer obtains from a product, and
not just the feature of that product.
 Whether your promotional material is a single
sheet or a complex brochure, folder or
catalogue, it must grab the attention of your
customers. It should be easy to read and
enable the customer to identify why they
should buy your products.

36. PROMOTION
1. Advertising - The activity or profession of
producing information for promoting the sale of
commercial products or services.
2. Branding - An identifying symbol, words, or
mark that distinguishes a product or company
from its competitors. Usually brands are
registered (trademarked) with a regulatory
authority and so cannot be used freely by
other parties. For many products and
companies, branding is an essential part of
marketing.

37. PROMOTION
 Endorsement - A written or public statement by
a celebrity, business or professional group
extolling the virtues of a product and
recommending the use of the product to the
public. A product endorsement from an
authoritative figure is a key element in
business advertising and marketing
campaigns.
 Competitive advantage – promotion
differentiate your product with your
competitors. And provide edge in business.

38. PROMOTIONS
 A brochure isn’t necessarily the best way of
promoting your business, the problem being
that once a brochure has been printed, the
information is fixed. You can’t change or
remove anything should the need arise. A
more cost effective and flexible option might
be a folder with a professionally designed
sheet inside, over a series of your own
information sheets can be customized by
varying them to suit the target customers
and/or changing them as required.

39. PROMOTIONS
 Promotion does not just mean communicating
to your customers. It is just as important to
ensure your internal stakeholder are aware of
the value and attributes of your products. This
mean communicating effectively to your
staff/fellow employees and share expertise
with their customers.

40. PLACE

41. PLACE
• The place where customers buy a product,
and the means of distributing your product to
that place, must be appropriate and
convenient for the customer. The product must
be available in the right place, at the right time
and in the right quantity, while keeping
storage, inventory and distribution costs to an
acceptable level.
• Customer surveys have shown that delivery
performance is one of the most important
criteria when choosing a supplier.

42. PLACE
 The means by which products and services
get from producer to consumer and where they
can be accessed by the consumer
 The more places to buy the product and the
easier it is made to buy it, the better for the
business (and the consumer)

43. PLACE
 Retail - A business or person that sells goods
to the consumer, as opposed to a wholesaler
or supplier, who normally sell their goods to
another business. Or we can say that selling
directly to consumers.
 Wholesaler - Person or firm that buys large
quantity of goods from various producers or
vendors, warehouses them, and resells to
retailers. Wholesalers who carry only non-
competing goods or lines are called
distributors.

44. PLACE
 Direct selling - Face to face presentation,
demonstration, and sale of products or
services, usually at the home or office of a
prospect by the independent direct sales
representatives. Employed by firms such as
Avon, Mary Kay, and Tupperware, direct
selling differs from network marketing in that it
offers little or no incentives for recruiting ever
increasing number of sales representatives.

45. PEOPLE

46. PEOPLE
 People represent the business
 The image they present can be important
 First contact often human – what is the lasting image
they provide to the customer?
 Extent of training and knowledge
of the product/service concerned
 Mission statement – how relevant?
 Do staff represent the desired culture
of the business

47. PROCESS
 How do people consume services.
 What processes do they have to go through to
acquire the services?
 Where do they find the availability
of the service?
 Contact
 Reminders
 Registration
 Subscription
 Form filling
 Degree of technology

48. PHYSICAL EVIDENCE

49. THE MARKETING MIX
 Blend of the mix depends upon:
 Marketing objectives
 Type of product
 Target market
 Market structure
 Rivals’ behaviour
 Global issues – culture/religion, etc.
 Marketing position
 Product portfolio
 Product lifecycle
 Boston Matrix

50. GALGOTIASBUSINESSSCHOOL
Submitted to: Submitted By:
Prof. SAMARTH SHARMA PRASHANTKUMAR
MARKETING
MANAGEMENT