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    Marketing-An Introduction: (DR.) Charu Bharti Wadhwa-JGI JSR

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    Marketing involves creating, delivering, and communicating value for customers and society. It connects producers and consumers by facilitating the exchange of goods and services. Marketing is the process by which individuals and groups obtain what they need through creating and offering products of value. It focuses on understanding customer needs and delivering satisfaction rather than solely on selling. The goal is to achieve organizational success through creating greater value for customers than competitors.

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    Marketing-An Introduction: (DR.) Charu Bharti Wadhwa-JGI JSR

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    Payel Dutta
    188 views21 pages
    Marketing involves creating, delivering, and communicating value for customers and society. It connects producers and consumers by facilitating the exchange of goods and services. Marketing is the process by which individuals and groups obtain what they need through creating and offering products of value. It focuses on understanding customer needs and delivering satisfaction rather than solely on selling. The goal is to achieve organizational success through creating greater value for customers than competitors.

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    Marketing involves creating, delivering, and communicating value for customers and society. It connects producers and consumers by facilitating the exchange of goods and services. Marketing is the process by which individuals and groups obtain what they need through creating and offering products of value. It focuses on understanding customer needs and delivering satisfaction rather than solely on selling. The goal is to achieve organizational success through creating greater value for customers than competitors.

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    © All Rights Reserved
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    Download as pptx, pdf, or txt
    188 views21 pages

    Marketing-An Introduction: (DR.) Charu Bharti Wadhwa-JGI JSR

    Uploaded by

    Payel Dutta
    Marketing involves creating, delivering, and communicating value for customers and society. It connects producers and consumers by facilitating the exchange of goods and services. Marketing is the process by which individuals and groups obtain what they need through creating and offering products of value. It focuses on understanding customer needs and delivering satisfaction rather than solely on selling. The goal is to achieve organizational success through creating greater value for customers than competitors.

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    © All Rights Reserved
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    Download as pptx, pdf, or txt
    of 21

    Marketing- An Introduction

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    “There is only one valid
    definition of business
    purpose: to create a
    customer”
    --Peter Drucker

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    Goods and services do not move
    automatically from the makers to the
    users.
     There is a definite mechanism that brings about
    exchange of goods and services against money or
    money's worth for the mutual benefit-namely,
    satisfaction to the consumers and surplus to the
    producers and manufacturers.
     Marketing is the belt that connects the two major
    wheels of any economy namely, producers and
    consumers. Marketing is the creation of utilities as
    goods and services get value added by the time
    they reach the consumers.
    (Dr.) Charu Bharti Wadhwa-JGI JSR
    Few definitions of Marketing…
     Acc. To Philip Kotler, “Marketing is a
    managerial and societal process by which
    individuals and groups obtain what they
    need and want through creating, offering,
    and exchanging products and services of
    value with others”.
     “Marketing is the creation and delivery of
    a standard of living”.

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    Definitions, contd..
     Acc. To Professors Cundiff and Still
    "Marketing is the business process by which
    products are matched with market and
    through which transfers of ownership are
    effected".
     Theodore Levitt Says "Marketing is getting
    and keeping the customer”.

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    Remember: Marketing is different from
    selling
    There are good many people who use the words 'marketing' and
    'selling' interchangeably.
     
    Infact, there is difference between the two terms so much so
    that their real meaning and content make them altogether quite
    distinct words.

    The basic difference can be outlined as under:

     SCOPE
     EMPHASIS
     OCCURRENCE
     PHILOSOPHY

    This is clearly explained in the next slide…

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    (Dr.) Charu Bharti Wadhwa-JGI JSR

    S. No. MARKETING SELLING


    1 Focusses on Customers needs Focusses on Sellers needs

    2 Begins before Production Begins after Production

    3 Continues after Sale Comes to an end with Sale

    4 A Comprehensive Term in terms of A Narrow Term in terms of Meaning


    Meaning

    5 Philosophy of Business Routine day to day Physical Process


    6 Profits through Customer Profits through Sales Volume
    Satisfaction

    7 Let the Seller be aware Let the Buyer be· aware

    8 Integrated Approach Fragmented Approach


    9 Long-term Perspective Short-term Perspective

    10 Customer first then Product Product first then Customer


    SCOPE OF MARKETING
    Marketing itself is the greatest task of creating, promoting and delivering goods
    and services to final consumers and business buyers.
    In fact, marketing people are involved in marketing of ten types of entities namely,
     
    1. Goods
    2. Services
    3. Experiences
    4. Events
    5. Persons
    6. Places
    7. Properties
    8. Organizations
    9. Information
    10. Ideas

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    SCOPE OF MARKETING (Dr.) Charu Bharti Wadhwa-JGI JSR

     
    1. Goods Physical tangible goods
    2. Services Intangible benefits
    3. Experiences One can create, stage and market experiences : Eg: Holiday Inn
    4. Events Creative marketers promote time based events such as Olympics, trade
    shows
    5. Persons Celebrity marketing has become a major growing business
    6. Places Places - may be cities, states, regions and even the whole country and globe
    is a market
    7. Properties Properties represent intangible rights of ownership of either real property
    - real estate or financial property - stocks and bonds.
    8. Organizations Organizations like individuals work hard to build their image or
    personality in the minds of public- Ratan Tata
    9. Information Information is a valuable product which can be produced and sold
    10. Ideas Each market offering has a basic idea which forms its core or heart
    A SIMPLE MARKETING SYSTEM

    COMMUNICATION

    GOODS & SERVICES


    INDUSTRY MARKET
    (A collection (A collection
    of sellers) of buyers)
    MONEY

    INFORMATION

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    Concepts & Philosophies of Marketing
     Production concept
     Product concept
     Selling concept
     Marketing concept
     Societal concept

    contd..

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    Production concept
     The PRODUCTION CONCEPT holds that
    consumers will prefer products that are
    widely available and inexpensive.

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    Product concept

     The PRODUCT CONCEPT holds that


    consumers will favor those products that
    offer the most quality, performance, or
    innovative features.

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    Selling concept
     The SELLING CONCEPT holds that
    consumers and businesses, will ordinarily
    not buy enough of the organization’s
    products. The organization must
    therefore, undertake an aggressive selling
    and promotion effort.

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    Products, even good ones, don't necessarily sell
    themselves. 
    Customers must be convinced to buy products.

    (Dr.) Charu Bharti Wadhwa-JGI JSR


    Marketing concept
     The MARKETING CONCEPT holds that the key to
    achieving its organizational goals consists of the
    company being more effective than competitors in
    creating, delivering, and communicating customer
    value to its chosen target markets.

    (Dr.) Charu Bharti Wadhwa-


    JGI JSR
    Societal concept (Dr.) Charu Bharti Wadhwa-JGI JSR

     The SOCIETAL MARKETING concept holds


    that the organization’s task is to determine
    the needs, wants, and interests of the target
    markets and to deliver the desired
    satisfactions more effectively than
    competitors in a way that preserves the
    consumers’ and society’s well-being
    Societal marketing… An example
    (Dr.) Charu Bharti Wadhwa-JGI JSR
    The Core of Marketing

    1
    3
    Needs 2 Value

    Wants Products
    Cost

    Demands Satisfaction
    4
    6
    Exchanges 5 Marketing
    Transactions Markets
    Marketers
    Relationships
    (Dr.) Charu Bharti Wadhwa-JGI JSR
    (Dr.) Charu Bharti Wadhwa-JGI JSR
    Reach to me at: [email protected]

    (Dr.) Charu Bharti Wadhwa-JGI JSR

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