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    Marketing M1

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    sunshineandcloudspodcast
    MArketing Management Introduction

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Marketing M1

    Uploaded by

    sunshineandcloudspodcast
    3 views3 pages
    MArketing Management Introduction

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    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    MArketing Management Introduction

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    3 views3 pages

    Marketing M1

    Uploaded by

    sunshineandcloudspodcast
    MArketing Management Introduction

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    MODULE I

    Reviewed

    Status Done

    Marketing management – introduction- definition- importance - types of marketing marketing


    concepts-marketing process- marketing functions- marketing mix

    MARKETING
    All resources and economic activities required to direct the flow of goods and services from
    producer to final consumer.
    Organizes and directs all those business activities involved in accessing and converting a
    customer’s purchasing power into effective demand for a specific product or services and in
    moving that product or service to the final consumer or so as to achieve profit.
    Involves analyzing market opportunities, fixing target market, developing market mix and
    managing market effirts.

    Importance
    Ensure consumer satisfaction

    Differentiate from competitors

    Create demand

    Boost sales

    Brand loyalty

    Scope for expansion

    Create time and place utility

    Types of marketing
    1. B2C - Business to consumer

    2. B2B - Business to business

    3. Service marketing - Intangible services

    4. Digital marketing - through online platforms

    MODULE I 1
    5. Direct marketing - directly reaching out to consumers.

    CONCEPTS
    1. Production concept: focuses on maximum output and distribution

    2. Product concept : Emphasis of product quality and innovation.

    3. Selling concept: aggressive sales techniques to achieve maximum sales

    4. Marketing concept : focuses on satisfying consumers wants and needs

    5. Societal concept : balancing consumer satisfaction with social well being.

    MARKETING PROCESS
    1. Market research- gathering and analyzing the market

    2. Market segmentation - dividing into distinct groups

    3. Targeting - selecting target market

    4. Product positioning - creating a distinct image for the product in consumers minds

    5. Development of marketing mix- strategies for product, price, promotion and place

    6. Implementation and control

    Marketing Functions
    1. Market research

    2. Product development

    3. Pricing

    4. Distribution

    5. Promotion

    6. Sales management

    7. Customer service

    MARKETING MIX
    The combination of four inputs with constitute the core of company’s marketing system.

    Putting the right product at the right place at the right time in the right price.

    PRODUCT

    MODULE I 2
    Goods or services any thing of value which is offered for sale. It is the most important
    component of the marketing mix.

    Involves planning, developing and producing the right type of product that is capable of
    satisfying consumer needs.
    Components: Product design, quality, features , branding, packaging, life cycle.

    PRICE
    The amount that a customer is willing to pay for a product.

    Price should be fixed in a way that the firm is able to sell it profitably.
    Factors affecting pricing are demand , cost ,competition, govt regulations, company
    objectives

    PLACE
    Refers to marketing efforts undertaken to ensure the product is available at the right place at
    the right time.
    Components: channels of distribution, warehousing, logistics..

    PROMOTION
    All those activities undertaken by the sales manager to inform the consumer on the
    availability of certain product and persuade them to buy it.

    Include advertising, personal selling, publicity, sales promotion…

    MODULE I 3

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