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Introduction-to-Marketing-Management

The document outlines the foundations of marketing, including its definitions, history, and various schools of thought. It emphasizes the importance of understanding customer needs, the marketing mix, and the evolution of marketing concepts over time. Additionally, it discusses the roles of different marketing strategies and the significance of facilitating exchanges in the marketplace.

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shrijal137
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1 views

Introduction-to-Marketing-Management

The document outlines the foundations of marketing, including its definitions, history, and various schools of thought. It emphasizes the importance of understanding customer needs, the marketing mix, and the evolution of marketing concepts over time. Additionally, it discusses the roles of different marketing strategies and the significance of facilitating exchanges in the marketplace.

Uploaded by

shrijal137
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Marketing

Management

Dr. Mridulesh Singh


Foundations of marketing –
what do we learn today?
• What is marketing
• History of marketing and marketing theory
• School of thoughts and „types“ of
marketing
• What is marketing – ONCE MORE
• Definitions of marketing
• Basic concepts of marketing
• Marketing management – „Ps“ of
marketing management
How was it in the beginning?...
Jagdish N. Sheth, David M. Gardner: History of Marketing Thought: an Update, 1982

Traditional marketing – 2 axioms:

• Marketing is an economic activity and is a subset discipline of


economics = MKT concepts (institutions, functions, products,
managerial and environmental perspectives) are restricted to
economic behaviour of people – „no marketing of places, no
marketing of ideas, no marketing of celebrities……“
• The initiator of marketing activities and programs is the marketer
and not customer = marketer can influence, manipulate and
control market behaviour through marketing skills and
organization

• http://www.jagsheth.net/docs/History%20of%20Marketing%20Thought-An%20Update.pdf
Marketing school of thoughts

• MANAGERIAL SCHOOL or MARKETING


MANAGEMENT – how to manage??? 4 or 5
or 7 „Ps“ (Philip Kotler as a guru) from the late fifties

• CONSUMER/BUYER BEHAVIOUR SCHOOL

• SOCIAL EXCHANGE SCHOOL (focuses on


exchange as the fundamental concept of
marketing) Emerson and Cook (1970…)
The goal of marketing is to facilitate
exchanges

Requirements for exchange:


• Two or more parties (voluntary involved)
• Parties have unsatisfied wants/needs
• Parties have something of value to exchange
• Each party has something other party wants
• Means of Communication & delivery (marketing!)
Requirements for Market
Exchange
• A “marketplace”
• A medium of exchange
• Specialization of labour
• Marketing
management/coordination
What is Market-Oriented?
“Marketing…is the whole business
seen from the point of view of its
final result, that is, from the
customer’s point of view.”
--Peter Drucker

+ other exchange partners´view


Marketing is…

• Research
• Identifying a real need and offering a product or
service (VALUE) to address that need
• Knowing everything about your
‘customers(PARNTERS)
• Communicating
• Assessing yourselves and your competition
• Building relationships
• Gaining profit…..
Some definitions of marketing
• the task of creating, • Marketing is an
promoting, and organizational function
delivering goods and and a set of processes
services to consumers for creating,
and businesses. communicating and
delivering value to
customers and for
managing customer
relationships in ways
that benefit the
organization and its
stakeholders.
American Marketing
Association 2004
Other definitions
• ‘Marketing is a social • “Marketing is the
and managerial process of planning
process by which and executing the
individuals and conception, pricing,
groups obtain what promotion and
they want and need distribution of ideas,
through creating, goods and services to
offering and create exchanges that
exchanging products satisfy individual
of value with others’ and organizational
Kotler 1991 objectives”
American Marketing
Association
Scope of marketing
• Places • Goods
• Properties • Services
• Organizations • Experiences
• Information • Events
• Ideas • Persons
The Marketing Mix
• The conventional view of the marketing
mix consisted of four components:
product, price, distribution and
promotion.
• Generally acknowledged that this is too
narrow today; now includes service,
processes, technology…
• Marketers today are focused on virtually
all aspects of the firm’s operations that
have the potential to affect the
relationship with customers.
Other Marketing concepts
Product concept
Assumption : consumers will
buy it if it’s cheap
Production Concept Makes sense when little
Efficiency issues differentiation is demanded
Makes sense for price
Mass production sensitive segments
narrow product-line(s)
• pricing based on the costs of •the main focus of the company is on
production and distribution
the products being like improving it,
• research limited to technical adding features to it, making the
product-research
product superior each time assuming
• packaging designed primarily that customers will buy the products
to protect the product
because they have greater quality.
• minimal promotion and
advertising, limited to raising •the first thing that is considered is
awareness of the existence of the function that the product is
the product going to serve. It is also reviewed as
• consumers more interested in to how many models or sizes or
simply obtaining the product, variants the product is going to
and less in its quality have. This product can be a physical
good or a service.

After the product has been


Selling concept • Marketing concept
• Company relies on sales talent • late 1960s and early 1970s
• May result in high
• pressure sales tactics
• Extensive use of marketing
• Makes more sense when new research
product’s benefits are hard to
understood • Broad product lines
• Businesses concentrates on ways of • Emphasis on a product's
selling theproducts. benefits to customers
rather than on product
• Numerous sales techniques such as attributes
closing, probing, and qualifing are
used and the sales department has • Use of product innovation
an exalted position in a company's techniques
organizational structure. • The offering of ancillary
• Other promotional techniques like services like credit
advertising, and sales promotions availability, delivery,
are taken intensively. installation, and warranty
• Packaging and labeling is used for
promotional purposes more than
protective purposes.
• Pricing is usually based on
comparisons with competitors
(called competitor indexing).

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