Kotler on
Marketing
The future is not
ahead of us. It has
already happened.
Unfortunately, it is
unequally distributed
among companies,
industries and
nations.
MARKET
Where the sellers and the buyers meet
Is the set of actual and potential buyers of a
product
Marketing is a social and a managerial process
by which individuals and groups obtain what
they need and want through creating, offering
and exchanging products of value with others
APPROACHES TO THE STUDY
OF MARKETING
1. Factual / Descriptive
Approach
AMA defines marketing as the performance
of business activities that direct the flow of
goods and services from producer to
consumer or user
2. Product / Commodity Approach
The focus is on the product or it is an
approach on the marketing on
Commodity wise basis.
3. Institutional Approach
The focus is on the study of institutions
(middle men) engaged in the marketing
during the movement of goods
4. Functional Approach
The focus is on the specialised
services or functions (buying, selling,
pricing, standardisation, storage,
transportation, etc.)
5. Legal Approach
Marketing includes all activities to do
with effective changes in ownership
and possession of goods and services.
6. Economic Approach
Marketing is that part of economics
which deals with the creation of time,
place and possession utilities.
7. Management Approach
It concentrates upon the activities or
marketing functions and focuses on
the role of decision making
8. Systems Approach
Marketing is the total system of interacting
business activities designed to plan, price,
promote and distribute want satisfying
product and services to present and
potential customer.
9. Societal Approach
Marketing process is regarded as a means
by which society meets its own consumption
needs (cultural, legal, sociological).
MARKETING MANAGEMENT
AMA defines Marketing Management as the
process of planning and executing the
conception, pricing, promotion and
distribution of ideas, goods and services to
create exchanges that satisfy individual
and orgnisational goals.
1 2
MARKET NEED
3
WANT
8
TRANS-
ACTIONS
CORE
MARKETING
4
CONCEPTS
DEMAND
7
EXCHANGE
5
6 PRODUCT
VALUE AND
SATISFAC
9. RELATIONSHIP MARKETING
10. MARKET CHANNELS
11. SUPPLY CHAIN
12. COMPETITION
13. MARKET ENVIRONMENT
14. MARKET PROGRAM – DECISIONS – MKT MIX
Marketing Concepts
and Tools
Defining Marketing
Marketing
Marketing management
Core Marketing Concepts
Target Markets and Segmentation
Figure 1-1: A Simple Marketing System
Company Orientations Toward
the Marketplace
Production Concept
Product concept
Selling Concept
Marketing Concept
Figure 1-7: Contrasts Between the Sales Concept and
the Marketing Concept
Company Orientations Toward
the Marketplace
Figure 1-10: The Customer Concept
Company Orientations Toward
the Marketplace
Societal Marketing Concept
Cause-related marketing
The New Economy
Substantial increase in buying power
A greater variety of goods and services
A greater amount of information about practically anything
A greater ease in interacting and placing and receiving orders
An ability to compare notes on products and services
The New Economy
Websites can provide companies with
powerful new information and sales
channels.
Companies can collect fuller and richer
information about markets, customers,
prospects and competitors.
Companies can facilitate and speed up
communications among employees.
Companies can have 2-way
communication with customers and
prospects
The New Economy
Companies can send ads, coupons,
samples, information to targeted
customers.
Companies can customize offerings and
services to individual customers.
The Internet can be used as a
communication channel for purchasing,
training, and recruiting.
Companies can improve logistics and
operations for cost savings while
improving accuracy and service quality.
Marketing Task
Ten rules of radical marketing
The CEO must own the marketing function.
Make sure the marketing department starts
small and flat and stays small and flat.
Get face to face with the people who matter
most – the customers.
Use market research cautiously.
Hire only passionate missionaries.
Marketing Task
Love and respect your customers.
Create a community of consumers.
Rethink the marketing mix.
Celebrate common sense.
Be true to the brand.
Three stages of marketing practice
Entrepreneurial Marketing
Formulated Marketing
Intrepreneurial Marketing
The Scope of Marketing
Marketing: typically seen as the
task of creating, promoting, and
delivering goods and services to
consumers and businesses.
The Scope of Marketing
Places Goods
Properties Services
Organizations Experiences
Information Events
Ideas Persons
The Decisions
Marketers Make
Consumer Markets
Business Markets
Global Markets
Nonprofit and Governmental
Markets
How Business and Marketing
are Changing
Company responses and adjustments
Reengineering
Partner-suppliers
Outsourcing
Market-centered
E-commerce
Global and local
Benchmarking
Decentralized
Alliances
How Business and Marketing
are Changing
Marketer Responses
and Adjustments Integrated marketing
Customer relationship communications
marketing
Channels as partners
Customer lifetime value
Customer share Every employee a
marketer
Target marketing
Customization Model-based decision
making
Customer database