10-04-2017, 08:44 PM
Marketing Management
What is Marketing?
Marketing is a social & managerial process by
which individuals & groups obtain what they need
& want through creating, offering & exchanging
products of value with others
Needs, Wants, & Demands
Needs:
A human need is a state of deprivation of some
basic satisfaction. People require food, clothing,
shelter, safety, belonging & esteem. These are not
created by society or marketers. They exist in the
very texture of human biology & condition.
Wants
Desires for specific satisfiers of needs. Although
needs are few, wants are many & are continually
shaped & reshaped by social forces & institutions.
Demands
Wants for specific products that are backed by an
ability & willingness to buy them. Wants become
demand when supported by purchasing power.
Products
Goods
Services
Ideas
A product is anything that can be offered to satisfy
a need or a want
A marketer s job is to sell the benefits or services
built into physical products.
Markets
Consist of all the potential customers sharing a
particular need or want who might be willing & able
to engage in exchange to satisfy the need or want.
Marketing
Is a social & managerial process by which
individuals & groups obtain what they need &
want through creating, offering, & exchanging
products of value with others.
Marketing Management is the process of
planning & executing the conception, pricing,
promotion & distribution of ideas, goods, &
services to create exchanges that satisfy
individual & organizational goals.
Relationship Marketing
The practice of building long-term satisfying
relations with key parties customers, suppliers,
distributors in order to retain their long-term
preference & business.
Marketing Concept
Holds that the key to achieving organizational
goals consists of being more effective than
competitors in integrating marketing activities
toward determining & satisfying the needs & wants
of target markets.
Selling vs. Marketing
Selling focuses on the needs of the seller,
marketing on the needs of the buyer.
Selling is preoccupied with the seller s need
to convert his product into cash, marketing
with the idea of satisfying the needs of the
customer by means of the product & the
whole cluster of things associated with
creating, delivering & finally consuming it.
Selling is push , Marketing is pull .
Societal Marketing
Societal Marketing Concept holds that the
organization s task is to determine the needs,
wants & interests of target markets & to deliver the
desired satisfactions more effectively & efficiently
than competitors in a way that preserves or
enhances the consumer s & society s well-being.
Marketing Mix
Set of marketing tools that the firm uses to
pursue its marketing objectives in the target
market:
2. Product
3. Price
4. Promotion
5. Place
Also known as the 4 P s of Marketing
Product
Variety
Quality
Design
Features
Brand name
Packaging
Sizes
Warranties
BCG Model
Growth-share matrix
Market growth rate on the vertical axis
indicates the annual growth rate of the market
in which the business operates.
Relative market share (horizontal axis) refers
to the SBU s market share relative to that of
its largest competitor.
Growth-share matrix is divided into 4 cells,
each indicating a different type of business.