Published on July 31, 2010
PRESENTATION ON MARKETING : PRESENTATION ON MARKETING PREPARED BY RUCHII BHATI SHUBHAM SHARMA MARKET AND MARKETING : MARKET AND MARKETING MARKET- Market can be defined as a place where set of actual and potential buyer along with the potential seller come closer to each other to carry out the process of exchange and transaction. MARKETING- Marketing is a process by which customer needs, wants, are satisfied through quality products and services offered for customer satisfaction. MARKETING MANAGEMENT – marketing management is the art & science of choosing target market & building profitable relationship with customer. Core Concepts of Marketing : Core Concepts of Marketing Core Concepts of Marketing : Core Concepts of Marketing Need – food ( is a must ) Want – Pizza, Burger, French fry's ( translation of a need as per our experience, religion & culture ) Demand – Burger ( translation of a want as per our willingness and ability to buy ) Value - the value or benefits the customers gain from using the product versus the cost of obtaining the product. Value= benefit / services Core Concepts of Marketing : Core Concepts of Marketing Value - the value or benefits the customers gain from using the product versus the cost of obtaining the product. Satisfaction – can be defined as the condition in which customer perception (CP) and Products attribute (PA) are equal. CP < PA => Delight CP = PA => Satisfaction CP > PA => Dissatisfaction Products & Services : Products & Services Product is any thing which can be offered to the market for satisfying a need, want or demand along with the ownership. Eg: Bajaj Pulsar Services are the intangible form of offering directed by a manufacturer towards customers or target market without ownership . Eg: Room in hotel Hyat Regency Exchange & Transaction : Exchange & Transaction Exchange: act of obtaining the desired object from someone by offering something in return. Eg; lecturer in an institute. The institute is offering salary and the lecturer is imparting services. Transaction: a measurement unit of measuring the process of exchange. A transaction consists of a trade of values between two parties; one party gives X to another party and gets Y in return. But both X and Y are considered to be of same values. Market : Market Market can be defined as a place where set of actual and potential buyer along with the potential seller come closer to each other to carry out the process of exchange and transaction. Eg: Malls, Kirana store and sabji Mandi Marketing Management Philosophies : Marketing Management Philosophies Consumers favor products that are available and highly affordable. Improve production and distribution. Consumers favor products that offer the most quality, performance, and innovative features. Consumers will buy products only if the company promotes/ sells these products. Focuses on needs/ wants of target markets & delivering satisfaction better than competitors. Focuses on needs/ wants of target markets along with society. Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept The Marketing Mix : 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 4Ps – Price, Product, Promotion, Place Traditional 4Ps extended to encompass growth of service industry Marketing Mix- The Four P’s : Marketing Mix- The Four P’s Target Customers Intended Positioning Product “Goods-and-service” combination that a company offers a target market Price Amount of money that consumers have to pay to obtain the product Activities that persuade target customers to buy the product Promotion Company activities that make the product available Place PRODUCT SERVICES AND EXPERIENCE : PRODUCT SERVICES AND EXPERIENCE PRODUCT – As anything that can be offered to a market for satisfying customer want & need. SERVICES, EXPERIENCE - services are the form of product that consist of activities, benefits and satisfaction offered for sale. Product vs. Services : Product vs. Services Products are: Tangible Touchable Physical Appearance ownership Services are: Non tangible Do not have a physical appearance. Non touchable. Do not provide ownership. PRICE : PRICE PRICE – price is the only one element of the marketing mix that produces revenue. DETERMINING DEMAND – price is inversely proportional to demand. The higher price lower will be demand. Strategies of price – a) market skimming b) market penetration New Product Pricing Strategies : New Product Pricing Strategies Market Skimming Market Penetration Setting a High Price for a New Product to Maximize Revenues from the Target Market. Results in Fewer, More Profitable Sales. Setting a Low Price for a New Product in Order to Attract a Large Number of Buyers. Results in a Larger Market Share. Promotion Tools : Promotion Tools Advertising Sales promotion Public relation Direct marketing – it is of 3 types- a) non-public b) up-to-date c) interactive PLACE : PLACE In the past, wholesalers were typically located in low rent, low tax areas and put little money into physical setting and offices. Often materials handling systems and order-processing systems lagged behind the available technologies. Today progressive sellers have been improving materials handling procedures and cost by developing automated warehouses & improving their supply capabilities through advanced information system. eg – shopping malls etc.