Introduction to SESSION 1
Marketing DR. SHRUTI GUPTA
Before we begin
let us understand
the session plan!
Definition of Marketing
AMA’s formal definition: “Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large”
The art and science of choosing target markets and getting, keeping, and growing customers
through creating, delivering, and communicating superior customer value
What is the Value of Marketing??
What is Marketed?
✓Goods
✓Services
✓Events
✓Experiences
✓Persons
✓Places
✓Properties
✓Organizations
✓Information
✓Ideas
Who Markets?
A marketer is someone who seeks a response-
attention, purchase, a vote a donation from
another party, called the Prospect!!
So, marketers are skilled at stimulating
Demand!!
Demand??
Core
Marketing
Function
Needs Vs Wants Vs Demand!!?
Core Concepts
Needs: the basic human requirements such as for air, food, water, clothing, and shelter
Wants: specific objects that might satisfy the need
Demands: wants for specific products backed by an ability to pay
Target markets
Positioning
Segmentation
Value proposition: a set of benefits that satisfy those needs
Offerings: a combination of products, services, information, and experiences
Brands: an offering from a known source
Marketing channels: Communication, Distribution and Service
Core Concepts (Continued..)
Value: a combination of quality, service, and price (qsp: the customer value triad)
Satisfaction: a person’s judgment of a product’s perceived performance in relationship to
expectations
Engagement : the extent of customers attention and involvement
Competition: all the actual and potential rival offerings and substitutes a buyer might consider
Marketing environment: Task environment
and Broad environment
Holistic Marketing Dimensions
Marketing Mix
Components (4
Ps)
COPYRIGHT © 2016 PEARSON EDUCATION, INC. 1-11
Developing
Marketing Plan
Customer Value, Core Competencies
The value delivery process The value chain Core competencies
• Choosing, Providing and • A tool for identifying • A source of competitive
Communicating Value ways to create more advantage and makes a
customer value significant contribution
to perceived customer
benefits
• Applications in a wide
variety of markets
• Difficult for competitors
to imitate
Marketing plan
The central instrument for directing and coordinating the marketing effort
◦ Strategic
◦ Tactical
Corporate 1. Defining the corporate mission
and division 2. Establishing strategic business units
❖A single business or collection of related businesses
strategic ❖Has its own set of competitors
❖Has a leader responsible for strategic planning and profitability
planning 3. Assigning resources to each strategic business unit (BCG Matrix)
4. Assessing growth opportunities
❖Intensive Growth
❖Integrative Growth
❖Diversification Growth
❖Downsizing and Divesting Older Businesses
Marketing tools that
facilitate the same!
Assessing growth opportunities
Opportunity And Threat Matrices
SWOT Analysis
Strengths Internal environment : Strengths &Weaknesses
External environment: Marketing opportunity: an area of
Weaknesses buyer need and interest that a company has a high probability of profitably
satisfying.
Opportunities
Environmental threat: challenge posed by an unfavorable trend or
Threats development that, in the absence of defensive marketing action, would
lead to lower sales or profit
Porters Generic Strategies
Overall Cost
Differentiation Focus
Leadership
Thank you!
Dr. Shruti Gupta
9811846873
[Link]@[Link]