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Chapter 1 MRKT MNGMNT Intro

The document discusses the basics of marketing including defining the key terms of market, customer, and marketer/seller. It also covers the scope and importance of marketing management.

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Anshul Sharma
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37 views19 pages

Chapter 1 MRKT MNGMNT Intro

The document discusses the basics of marketing including defining the key terms of market, customer, and marketer/seller. It also covers the scope and importance of marketing management.

Uploaded by

Anshul Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Chapter-1

Marketing: An introduction
Basis of Marketing

IT COMPRISES OF THREE
WORDS:

MARKET, CUSTOMER,
MARKETER/SELLER
1. Market
Traditional View : Physical Place
Modern View: The real and group of potential buyers of
products and services.
2. Customer

People or organization
who want to fulfill their
needs.
They can be : wholesaler,
retailer, female, male,
infant, rich customer etc.
3. Seller

A person or organization
who provides goods or
services to satisfy the needs
of the customers.
Eg: Archies: Cards,gifts
Mc Donalds: Taste buds
Need
Want
Marketing

Goods and Profit


Services Sales through Sales

Old concept:
Production
Discovery of
of goods & Creation of
customer Demand
needs services

After
Profit Sales Sales
Services
Modern Concept:
Marketing

Marketing is sum total of all those


activities which move goods and services
from the producers to the consumers.
These activities chiefly include the
following: Gathering and analyzing
market information ,Market planning,
Product designing and development,
Standardization and grading
,packaging ,branding etc
Definition


“Marketing is that social process
by which individuals and groups
obtain what they need and want
through creating offerings and
freely exchanging products and
services of value with others.”
-Philip Kotler
Nature of Marketing Management

Customer Focused
System
Exchange Process
Guiding Element
Surrounded by Customer Needs
Science as well as art
Creates Mutually-beneficial relationship
Part of Total Environment
Goal –Oriented
Scope of marketing

Managerial Activities Functional Activities

Determining Marketing research


marketing
Product planning and
objectives.
development
Planning, organising, Buying assembling
staffing, directing, Selling, transportation
coordinating, controlling Storage, warehousing
marketing function. Branding, grading
Analysing & evaluating Pricing, packaging
Financing, advertising
marketing functions
After sales service
Importance of Marketing
Management

a) TO PROVIDE EMPLOYMENT
b) SATISFIES NEED OF CONSUMER
c) HELPS IN DETERMINING
MARKETING MIX
d) INCREASE IN STANDARD OF LIVING
e) INCREASE IN INCOME OF BUSINESS
f) SAFEGUARDS RECESSION
g) CREATES UTILITY
h) BENEFICIAL TO CONSUMERS
Role/ Importance

Role in a firm:

1. Collecting information about customer’s need and want.


2. Analyzing the available information taking decision about
production of a product
3. Making available their favourite product to the
consumers
4. Consumer satisfaction
5. Attainment of the objectives of the firm
6. Possibility of the long life of the firm and its development
Role in the Economy:

1. Collecting information about the need and want of the


consumer.
2. Getting encouraged to start new business activities.
3. Establishing new industrial units.
4. Increase in the employment opportunities.
5. Increase in the per capita income.
6. Improvement in the standard of living of the people.
7. Development of the economy.

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