Market Mgmt Suman Assignment.pptx
- 1. Suman Chanda, PF2202 Marketing Management SIMSREE
- 2. Production Concept • Emphasis On Producing Goods Product Concept • Producing Quality Goods Selling Concept • Aggressive Selling & Promotion Marketing Concept • Right products for Customers Holistic Marketing Concept • Do everything possible
- 3. Oldest Concept Believed That Consumers Prefer Available Goods Focus Is On Efficient Production And Mass Distribution This Orientation Makes Sense In Developing Countries Efforts On Reducing Costs To Provide Inexpensive Goods
- 4. Focus Is On Making Superior Goods Believed That Consumers Prefer Goods With Best Quality & Innovative Features Importance Is Given To Improvising The Product Less Focus On Consumers Need Goods Sell Themselves
- 5. Aggressive Selling And Promotion Effort Sell More Stuff To More People And More Often Used With Goods Which Buyers Usually Don’t Think Of Buying (Unsought Goods) Such As Insurance Sell What Is Made Not What Market Wants Carries High Risk As Can Result Into Negative Word Of Mouth
- 6. • • • • • Emerged In Mid 1950s
- 7. Acknowledges That Everything Matters In Marketing Components Relationship Marketing Integrated Marketing Internal marketing Social Responsibility Marketing
- 8. Build Mutually Satisfying Long Term Relationship Key Parties Being Customers, Suppliers, Distributors And Marketing Partners Focus Is On Developing A Market Network Of Customers, Employees, Suppliers, Retailers, Ad Agencies, Etc. Objective Is To Built Mutually Profitable Business Relationship Which Will Make Profits To Follow
- 9. Integrated Marketing Marketing Activities Are Employed To Communicate & Deliver Value In A Co-ordinated Manner Use of Marketing Mix – The 4 Ps Influence Trade Channels As Well Final Consumers Using Offering Mix and Communication Mix Offering Mix – Product, Price and Services Communication Mix – Advertising, Sales Promotion, PR, Events & Experiences, Direct Marketing and Personal Selling
- 10. Internal Marketing Ensuring that everyone in the organisation embraces appropriate marketing principles Task of hiring, training and motivating employees who want to serve customers well No sense in promising excellent services unless the employees are ready for it Works at two levels – Marketing Research and Marketing functions like advertising, customer service, and product management Marketing functions must be co- ordinated from the point of view of the customer
- 11. Marketers consider the role that they are playing and could play in terms of social welfare Understanding broader concepts and ethical, environmental, legal and social context of marketing activities Social Responsibility Marketing Focus is on enhancing social welfare
- 12. Begins At Focus Means Profit Marketing Concept Target Market Customer Needs Co-ordinated Marketing Customer Satisfaction Selling Concept Factory Products Means Profit