Introduction to
Marketing
CHAPTER 1
MARKETING|SHERJUNG KHADKA |GRADE 11
Marketing Grade 11|Sherjung Khadka | MKPD
Meaning & Definition of Marketing
Definition: the action or business of promoting and
selling products or services, including market research
and advertising.
Philip Kotler defines marketing as “the science and
art of exploring, creating, and delivering value to satisfy
the needs of a target market at a
profit. Marketing identifies unfulfilled needs and desires
Marketing Grade 11|Sherjung Khadka | MKPD
Core Concepts
Needs, Wants, Demands
Products, Services, Experiences
Customer Value and Satisfaction
Exchanges and Relationships
Market
Marketing Grade 11|Sherjung Khadka | MKPD
Needs, Wants, Demands
Needs
The state of feeling of deprivation
Physical- Food, clothing, shelter, safety, water
Social- Belonging & Affection
Individual- Knowledge & Self Expression
Marketing Grade 11|Sherjung Khadka | MKPD
Needs, Wants, Demands
Wants Demand
The form of needs that is The amount of products or
shaped by culture & services that consumers
individual personality. wish to buy at any given
For example: Nepalese price level.
people need food but need There should be want,
Dal Vat willingness, and ability to
pay to be demand
Marketing Grade 11|Sherjung Khadka | MKPD
Example: Need, want & Demand
Need: Walking to College everyday is tiring so you need
transportation to travel to your college
Want: In order to travel to college, You want a 2 Wheelers
Motorcycle or Scooter
Demand: You already want a scooter and now the price of
Vespa Scooters fit your budget therefore you are willing to buy
the Vespa Model VX
Marketing Grade 11|Sherjung Khadka | MKPD
Example: Need, want & Demand
Deman
Need Want
d
Transportation Vehicle Vespa VX
Marketing Grade 11|Sherjung Khadka | MKPD
Products, Services, Experiences
Product
Formal/Expected Product
Core Product
Actual Product
Augmented Product
Marketing Grade 11|Sherjung Khadka | MKPD
Products, Services, Experiences
Product
Formal Product:
Non Skin Damaging Cream
Core Product:
Beauty
Actual Product:
Nivea Cream
Augmented Product :
Home Delivery+ Loyalty Benefits
Marketing Grade 11|Sherjung Khadka | MKPD
Products, Services, Experiences
Service
Intangibility
Cannot be touched
Inseparability
Can only be used alongside provider
Perishable
Finished after used and cannot be stored for future use
Variability
Nature, quality and type of Service varies from provider to
provider
Marketing Grade 11|Sherjung Khadka | MKPD
Products, Services, Experiences
Service
Intangibility: You cannot touch
Education
Inseparability: You cannot separate
the teacher from classes
Perishable: You cannot store your
classes. It is finished after recieved
Variability: Each teacher’s service is
different from one another
Marketing Grade 11|Sherjung Khadka | MKPD
Products, Services, Experiences
Experience
Events or circumstances one person has gone through
Events which add an abstract value
Investment in the novelty/extremities/different versions
of new sights, sounds, tastes, feelings, memories, etc
Marketing Grade 11|Sherjung Khadka | MKPD
Products, Services, Experiences
Marketing Grade 11|Sherjung Khadka | MKPD
Customer Value and Satisfaction
Customer Value
Total Benefits – Total Customer
Costs
Based on
Quality
Delivery Performance
Technical & Sales Support
Creates
Customer Loyalty & Retention
Growing Share of Customers
Customer Equity
Marketing Grade 11|Sherjung Khadka | MKPD
Customer Value and Satisfaction
Customer
Satisfaction
Perceived Performance
Matching with Buyer’s
Expectation
BringsCustomer Loyalty
& Word of Mouth
Marketing Grade 11|Sherjung Khadka | MKPD
Exchanges and Relationships
Exchanges
Obtaining desired
goods/services by offering
something in return
Ordering Food in a
restaurant for money
Marketing Grade 11|Sherjung Khadka | MKPD
Exchanges and Relationships
Relationship Marketing
Building
connections/relationships
for long-term exchanges
Direct
or Indirect Benefits
Exchange
Fostering Loyalty
Marketing Grade 11|Sherjung Khadka | MKPD
Market
Place Concept
Commodity Concept
Area Concept
Demand concept
Exchange concept
Space Concept
Marketing Grade 11|Sherjung Khadka | MKPD
Market
Place Concept: Demand concept
Buyer-Seller Meet Aggregate of actual +
Commodity Concept: potential customer
Exchange concept
Item Exchanged
Medium for Exchange
Area Concept
Space Concept
Overall Platforms/Locations
of Exchange Open Mediums for
information and exchange
Marketing Grade 11|Sherjung Khadka | MKPD
Historical Development of Marketing
Product Orientation Stage
Product-> Sales
Sales Orientation Stage
Product->Promotion->Sales
Market Orientation Stage
Product->Market Research->Promotion->Sales
Marketing Grade 11|Sherjung Khadka | MKPD
Product Orientation Stage
Product-> Sales
High Quality Product Focus
Product Comparison Basis
Price and Quality
Production Basis
Cost of Production
Marketing Grade 11|Sherjung Khadka | MKPD
Sales Orientation Stage
Product->Promotion->Sales
Promotional Activities
Advertising
Sales Promotion
Personal Selling
Publicity
Public relations
Cost of Promotion
Increasing Market Reach
Marketing Grade 11|Sherjung Khadka | MKPD
Market Orientation Stage
Product->Market Research-
>Promotion->Sales
Research to Identify Needs and Wants
Aggressive Promotions
Produce only what is demanded
Market saturation
Based on competition and customers
Marketing Grade 11|Sherjung Khadka | MKPD
Status of Customer in Marketing
Customers are Life Blood
Customers Generate revenues
Customers are Brand Ambassadors
Customers Provide Pertinent Information
Customers are Destiny of Firm
Marketing Grade 11|Sherjung Khadka | MKPD
Approaches to the Study of
Marketing
Commodity Approach System Approach
Functional Approach Inputs
Exchange Functions Processes
PhysicalDistribution
Outputs
Functions
Auxiliary Feedback
Function
Institutional Approach
Marketing Grade 11|Sherjung Khadka | MKPD
Approaches to the Study of
Marketing
Environmental Approach Managerial Approach
Micro-environment Planning
Macro-environment
Implementation
Economic Approach Controlling
Legal Approach
Marketing Grade 11|Sherjung Khadka | MKPD
Importance of Marketing
Importance to Customers
Information
Satisfaction
Selection Facility
Living standard of customers
New Product
Marketing Grade 11|Sherjung Khadka | MKPD
Importance of Marketing
Importance to Business Firm
Information for decision
Revenue generation
Distribution
Chain Between Firm and society
Marketing Grade 11|Sherjung Khadka | MKPD
Importance of Marketing
Importance to Society & Nation
Employment
Living Standard of People
Creation of Utilities
Utilization of resources
Economic Development of the Nation
Bears Social Responsibility
Reduction In Costs
Marketing Grade 11|Sherjung Khadka | MKPD
Any Questions?