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Introduction To Marketing

The document introduces marketing concepts including defining marketing as identifying customer needs and satisfying them profitably. It discusses different marketing philosophies from production-oriented to more modern customer-oriented approaches. The core concepts of marketing like segmentation, target markets, and the marketing mix are also explained in the context of creating value for customers.

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mmtharindu
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36 views

Introduction To Marketing

The document introduces marketing concepts including defining marketing as identifying customer needs and satisfying them profitably. It discusses different marketing philosophies from production-oriented to more modern customer-oriented approaches. The core concepts of marketing like segmentation, target markets, and the marketing mix are also explained in the context of creating value for customers.

Uploaded by

mmtharindu
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Introduction to Marketing

Prof. Ravi Dissanayake


PhD (Taylor’s –Malaysia) DBA ( EU-Switzerland), MBA (PIM-SJP), B.B.Mgt (Marketing-
Kelaniya) ,Dip.Mktg (SLIM)

Dept. of Marketing Management


University of Kelaniya
What Marketing Does in
Organizations???
• Discussion

• The Core of Marketing is creating a


profitable customer via a value creating
process.
• Co-creation :
Definitions of marketing
• Marketing is the
social process by
which individuals
and groups obtain
what they need and
want through
creating and
exchanging
products and value
with others (Kotler)
Definitions of marketing

‘Marketing is the management process that


identifies, anticipates and satisfies
customer requirements profitably’
The Chartered Institute of Marketing
1.Marketing research
2. Demand Analysis ( next 3 years)
3. Quality product with service
Selling vs. Marketing
Marketing Selling
1. Broader process of creating, 1. Process of transfer the
delivering and ownership of products under
communicating customer predetermined financial
values. value.
2. focus on developing and 2. No such a relationship.
maintaining customer 3. Focused on seller needs and
relationship wants. INCOME
3. Focused on customer needs
and wants. 4. Involving one buyer and
4. Involving large no. of seller
parties. INTERGRATED
Role of marketing
Marketing as a
• Philosophy
“Whose job marketing is?..

• Function : Ads, distribution, sales


• Skills : Hard & Soft skills
• Culture : Internal marketing
Combination
Strategic Management
Effective Ineffective
Operational Management

Efficiency Thrive Die slowly

In
efficiency Survive Die quickly
The Marketing Management
Process
Whole-Company
Whole-Company
Strategic
Strategic
Management
Management
Planning
Planning

Adjust Plans
as Needed Marketing
Marketing
Planning
Planning

Control
ControlMarketing
Marketing Implement
ImplementMarketing
Marketing
Plan(s)
Plan(s)and
andProgram
Program Plan(s)
Plan(s)and
andProgram
Program
Marketable Entities
to satisfy customer needs
(Scope of marketing )
• Goods
• Services
• Experience
• Events
• Persons
• Places
• Properties
• Information
• Organization/PROFILE
• Ideas
Core Concepts of Marketing
1. Segmentation and target market
– What is segmentation ( Potential market
clusters ) : Ladies/Gents/Youth/Kids
– What is target market ( The selected
segment/s) : Ladies/Gents
2. Market scope ( Broad Industry) and
space ( Immediate Category)
Maliban : Nutrition (Scope), Spaces
( Biscuit, Milk powder)
Core Concepts of Marketing
4. Needs and wants
Needs Wants

1. Common to all people 1. Different one person to another


2. Limited 2. Unlimited
3. Primary 3. Secondary
4. Naturally created 4. Created by marketers
5. Cannot be changed from social 5. Can be changed from social
forces forces
Core Concepts of Marketing
5. Products and Market Offerings
( Marketing mix 7Ps)

6. Value and Satisfaction


Marginal utility theory
- What is Satisfaction( Value / 100 Rs)
120/100= 1.2
Core Concepts of Marketing
7. Exchange and transaction
– Price has to be WIN-WIN condition
8. Relationship and network CRM

9. Marketing Channels: Outsourcing


Agents/Distributors/Service/Media/
Research ( Applying a marketing
system ) : Strategic alliances with
partners IKEA
Marketing Philosophies
• Production Concept

• Product concept

• Selling Concept

• Marketing Concept

• Societal Marketing Concept

• Customer Marketing Concept

• Holistic Marketing Concept


Marketing Basis /Core
Concepts
• Needs and Wants : Wants ( Brand)

• Value & Satisfaction : Fresh, Car Park,


Service, Nice location, Brand image,
Caring service

• Target Market
• Competition
Contd…
• Relationship Marketing

• Market and Industry


BoC: ………………………..

Marketing System
Marketing Orientation
• Customer is the boss
• Customer is the KING
• Customer is the GOD
• Customer is always right
• Sleep with customer
Production Concept
• Assumption – customers will prefer
products that are widely available and
inexpensive ( Low cost and availability)
• Appropriate in excess demand condition
• Homogeneous products (similar )
• Large volume and high availability
• Focus on production efficiency
Why production concept become failure
• Henry Ford,
"Doesn't matter
what color car
you want, as long
as it is black."...
• Dominant era:
From mid C19th to H
e
early C20th, n
r
y
industrial revolution
F
o
etc r
d
Product concept
• Assumption – customers will favor to
products that offer most quality,
performance and innovative features.
• Continues improvements of product quality
and features
• Differentiated products
• High cost
Why product concept become failure
Assumption - Customers will not buy enough of the
Selling Concept
organizational products without push them to buy
organizational products.
Establishing Sales Division

Therefore, Organizations undertake aggressive selling


and promotions
Marketing Concept
Key to achieve organizational goals consists of the company
being more effective than competitors in creating, delivering
and communicating superior customer value to its chosen
target market
Co-creation ( eg : UGC)
Societal Marketing Concept
cause-related marketing
Model
Customer Concept

Starting point
StartingFocus
point Means MeansEnds
Focus Ends

Individual Customer One to One Profitability through


Customer Needs Marketing capturing customer share
Wants loyalty and lifetime value
Holistic Marketing Concept
Model for marketing
Philosophies
Model for marketing
Philosophies
• Self Oriented – Companies adopted to in out
approaches e.g. production, product and selling
• Competitor Oriented – more attention on
competitors and less attention on customers
• Customer Oriented – more attention on
customers and less attention on customers
competitors.
• Market oriented – Companies adopted to out in
approaches e.g. Marketing, Societal Marketing,
Customer, Holistic Marketing Concepts
Thoughts…
• CUSTOMER IS THE BOSS

• CUSTOMER IS THE KING

• CUSTOMER IS ALWAYS RIGHT ( Be a


good listener )

SLEEP WITH CUSTOMER

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