The document discusses key concepts in marketing management, including how marketing has been impacted by disruption and the breakdown of entry barriers. It examines the basic tasks and processes of marketing, such as meeting customer needs, generating customer satisfaction, and building relationships with customers. Different concepts in marketing are reviewed, like the exchange concept, production concept, and marketing concept. The document also covers the value delivery process and how marketers select, create, deliver, communicate, and capture value for customers.

1. Session 1
Marketing Management

2. Disruption of the times : A major factor impacting marketing
Breaking Down of entry barriers
Has marketing lost its way ??

3. Basics of marketing revisited?
• Marketing as a
• Practice
• Process
• Process of interaction between environment and firms marketing mix
• Marketing is an orientation
• Business = Marketing ?
• Understanding Marketing by checking
• Marketing’s Task is “meeting customer needs”
• Marketing Means generating customer satisfaction
• Marketing is about generating customer satisfaction at a ‘Profit”
• Measuring the satisfaction is also a part of marketing
• Marketing is building “relationship with customers
• Marketing = Customers ?
• “Meeting Competition” part of marketing

4. Different Concepts of Marketing
• Exchange Concept
• Production Concept
• Product Concept
• Sales Concept
• Marketing Concept

5. • Marketing Myopia
• The Value Concept
• Benefits Translate into value
• People buy value
• Total Customer Cost
• Customer Value has two facets
• Initially perceived value
• Finally perceived value
• Value is “Benefits Relative to Costs”
• In marketing all value “is perceived value”

6. The Value Delivery Process
• Selecting the Value to be offered
• “Now an upstream marketing task
• “Customer driven or customer driving
• Value driven is a better alternative
• Decide the intensity of the value
• Creating the Value
• Delivering the value
• Capturing the value back from the market
• Communicating the value
• Working out a value proposition and communicating it