MARKETING PRINCIPLES (MP) Organizations need revenue Marketing - - PowerPoint PPT Presentation

Unit 02: CBM 102 MARKETING PRINCIPLES (MP)

“Organizations need revenue”

Marketing & Sales Team

UNIT 02: CBM 102 - MARKETING PRINCIPLES (MP)

LEARNING OUTCOMES

2.1

Understand the concepts and scope of marketing 2.2 Understand the elements of the marketing mix 2.3 Explain the concept of Segmentation, Targeting and Positioning 2.4 Describe the types of marketing research and stages of consumer behaviour

LESSON ONE Understand the concepts and scope of marketing

What is Marketing?

DEFINITION

Marketing is the management process responsible for identifying, anticipating and satisfying customers’ requirements profitably

(Chartered Institute of Marketing)

Customer needs Identifying Anticipating

Satisfying

Market

A collection of customers having need to purchase, money to purchase and willingness to purchase

Need to purchase Having Money Willingness to purchase

Transaction Buyer Demand Seller Supply

Demand & Supply

The Evolvement of Demand and Supply

Demand Supply

Production Concept

During this period businessmen were more focusing on production and distribution

The idea that consumers will favor products that are available and highly affordable and that the organisation should therefore focus on improving production and distribution efficiency

The Evolvement of Demand and Supply

Demand Supply

Production Concept Product Concept

Differentiation

The idea that consumers will favor products that offer the highest quality, performance and features and that the organization should therefore devote its energy to making continuous product improvements

MARKETING MYOPIA IS A MISTAKE!

Marketing myopia is a term coined by Theodore Levitt. A business suffers from marketing myopia when a company views marketing strictly from the standpoint of selling a specific product rather than from the standpoint

• f fulfilling customer needs.

The Evolvement of Demand and Supply

Demand Supply

Production Concept Product Concept Sales Concept

The idea that consumers will not buy enough

• f

the

• rganizations

products unless it takes large-scale selling and promotion effort

The Evolvement of Demand and Supply

Demand Supply

Production Concept Product Concept Sales Concept Marketing Concept Competition More concern about identifying customer needs and cater them accordingly

THE MARKETING CONCEPT

The marketing concept is a management philosophy that ‘achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do’. (Philip Kotler – 12th edition)

Marketing concept

Customer orientation Integrated effort Goal achievement

Production concept Product Concept Sales concept Marketing concept

• Societal

marketing concept

The Evolution of Concepts

The Societal Marketing Concept

Organization task is to determine the needs wants and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves

• r enhances the consumers and society’s well-being

Two other responsibilities were highlighted in the above concept:

• 1. Company should follow ethics
• 2. Companies should look after the society and nature (Corporate

Social Responsibility - CSR)

Brandix

 “Care water – care for woman”  Water supplying systems – particularly in rural

areas where there are less assess to clean drinking water

 Started with 500 such projects across the country

THANK YOU