Documente Academic
Documente Profesional
Documente Cultură
Rajan Arora
What is Marketing?
Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
What is Marketed?
Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas
Demand States
Negative Nonexistent Latent
Declining
Irregular
Full
Overfull
Unwholesome
Negative Demand
The market is in a state of negative demand if a major part of the market dislikes the product and may even pay a price to avoid it. Eg: People have a negative demand for Vaccination Dental work Alcoholism
No Demands
Target consumers may be uninterested in the product. Ex People have no demand for Farmers may not be interested in new farming methods College students may not be interested in a foreign language course.
Latent Demand
Many consumers may share a strong need that cannot be satisfied by any existing products. Latent demand for harmless cigarettes. Safer neighborhood. More fuel efficient cars.
Declining Demand
A substantial drop in the demand for products. Boy scout, NCC enrolment among students.
Irregular Demand
Organizations face demand that varies on a seasonal, daily or even hourly basis, causing problems of idle capacity or overcrowded capacity. Markets :- visited on weekends, not on weekdays. Hospitals :- OTs booked in advance
Full Demand
Organizations face full demand when they are pleased with there volume of business. Eg: Maruti at the time of bookings made open.
Overfull Demand
Some organizations face a demand level that is higher then they can or want to handle.
Unwholesome Demand
Unwholesome products will attract organized effort to discourage their consumption. Un-selling campaigns have been conducted against cigarettes, alcohols, drugs, handguns and pirated movies.
Company Orientations
Production
Product
Selling
Marketing
The Four Ps
Tactical
Product features Promotion Merchandising Pricing Sales channels Service
Product
We make copying equipment We make movies We sell encyclopedias We make air conditioners and furnaces
Market
We improve office productivity We entertain people We distribute information We provide climate control inside homes
Customer groups
Customer needs
Technology
FedEx
FedEx added Sunday deliveries based on customer requests and market demand
Environmental Forces
Demographic
Political-Legal Economic
Technological Natural
Socio-Cultural
Services $
POP
ATM
Goods
Market Segmentation
Grouping people according to their similarity related to a particular product category
Market Segmentation
Characteristics
age gender geographic location income spending patterns cultural background demographics marital status education language mobility