1. MARKETING

2. What is Marketing?
It is the process of planning and executing
the conception, pricing, promotion and
distribution of ideas, goods and services to
create exchanges that satisfy individual
and organizational goals.

3. How Does Selling Differ from Marketing?
 Marketing is a pre-development function
 Marketing looks for unmet needs and
customer preferences
 Marketing is increasingly becoming a
strategic function which handles company
brand as well as product brands
 Marketing now has well-established
theories and best practices

4. NEEDS, WANTS AND DEMAND
 A need refers to something which is deep rooted in an
individual's personality. State of felt deprivation
example: Need food
 Wants are the culturally influenced manifestation of a deep-
seated need. The form of needs as shaped by culture and
the individual
example: Want a Big burger
 Demand is the willingness and ability of buyers to purchase
a product that satisfies their need. Wants which are backed
by buying power.

5. Exchange
 The provision or transfer of goods, services, or
ideas in return for something of value

6. Concepts in Marketing
 Production concept
holds that consumers will prefer products that are widely available
and inexpensive. Managers of production oriented businesses
concentrate on achieving high production efficiency, low costs and
mass distribution. They assume that consumers are primarily
interested in product availability and low prices.
 Product Concept
consumers favor those products that offer the most quality,
performance or innovative features. Managers in these organizations
focus on making superior products and improving them over time.
They assume that buyers admire well made products and can
evaluate quality and performance.

7. Selling Concept
The organizations undertake an aggressive selling and promotion effort.
The aim is to sell what they make rather than make what the market
wants.
Marketing Concept
Holds that the key to achieving its organizational goals consists of the
company being more effective than competitors in creating, delivering
and communicating superior customer value to its chosen target
markets. The marketing concept rests on four pillars: target market,
customer needs, integrating marketing and profitability.

8. Societal Marketing Concept
holds that a company should make good marketing decisions by
considering consumers' wants, the company's requirements, and
society's long-term interests. It is closely linked with the principles of
corporate social responsibility.
Relationship Marketing
Building long term mutually satisfying relations with customers,
suppliers, distributors in order to retain their long term preference and
business.

9.  Customer Relationship Management (CRM)
Using information about customers to create marketing strategies
that develop and sustain desirable customer relationships
 Identifying buying-behavior patterns of customers
 Using behavioral information to focus on the most profitable
customers

10. The Marketing Mix
Four marketing activities—product,
distribution, promotion, and pricing—that a
firm can control to meet the needs of
customers within its target market
ProductProduct
DistributionDistribution
PromotionPromotion
PricingPricing
TargetTarget
MarketMarket

11.  4 P’s: Product, Price, Place, Promotion
 Product: Features, benefits, value offered
 Price: Base price, discount, bundling
 Place: Direct, retail, mail order, Internet
 Promotion: Advertisements, promotional
events
 4 C’s – Customer solution, Cost, Convenience,
Communication

12. The Nestle Way
 The “Nestlé way” is to dominate its markets
can be summarized in four points:
(1) think and plan long term
(2) decentralize
(3) stick to what you know, and
(4) adapt to local tastes
• Nestlé sells more than 8,500 products produced in 489
factories in 193 countries
• Nestlé sells more than 8,500 products produced in 489
factories in 193 countries
• Nestlé is the world’s biggest marketer of infant formula,
powdered milk, instant coffee, chocolate, soups, and mineral
water
• Nestlé is the world’s biggest marketer of infant formula,
powdered milk, instant coffee, chocolate, soups, and mineral
water

13.  A classification of
decisions made by
marketers
 Product
 Price
 Place
 Promotion
 People
 Processes
 Physical evidence

14. RELATIONSHIP MARKETING &TRANSACTIONAL
MARKETING COMPARED

15. COMPONENTS OF MARKETING ORIENTATION
 3 components:
 customer
orientation
 competitor
orientation
 inter-functional co-
ordination