Introduction to Marketing Management - Key Concepts & Strategies

Marketing plays a pivotal role in today's business landscape, encompassing the social and managerial processes through which individuals and groups meet their needs and wants. This involves creating, exchanging products, and values with others. Key concepts such as segmentation, targeting, and positioning contribute to market success, alongside core principles like needs, wants, and demands. Additionally, the value of marketing lies in enhancing product utility, time utility, and place utility. Understanding these fundamental aspects can lead to effective product offerings, branding strategies, and marketing channel utilization.

• Marketing Management
• Key Concepts
• Market Segmentation
• Product Offerings
• Branding

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Uploaded on Mar 12, 2025 | 0 Views

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Presentation Transcript

1. Welcome MARKETING MANAGEMENT Ms. Beena Antu Department of Vocational Studies

2. Definition Marketing is the social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others . (Philip Kotler)

3. Features of Marketing An Economic Function. Facilitates Transfer of Goods. Aims at Consumer Satisfaction. Improves Standard of living. Adds Value to Products. A Social Process. Managerial Process. Generates Revenue. A Science as well as Art.

4. The Value of Marketing Form Utility:- Refers to availability of the product in the form that is useful to the consumers. Time Utility:- Refers to ability of the product to be available in the market when it is demanded by the consumers. Place Utility:- A product enjoys place utility when it is made available at the place where it is demanded.

5. Core Marketing Concepts Needs, Wants and Demands Needs:- Means the basic human requirements. Wants:- Are specific things with which human needs are satisfied. Demands:- Are wants for specific products backed by willingness and ability to buy them.

6. Segmentation, Targeting and Positioning Market Segmentation:- Means dividing the consumers into different groups. Targeting:- Means identifying the most suitable segment for launching the marketing program. Product Positioning:- Means placing the product in the market with a distinct position as compared to the competitive products.

7. Product Offerings and Branding Product Offerings:- Means offer a product that can satisfy the needs and wants of consumers. Branding:- The process of identifying a product through a special name or symbol.

8. Marketing Channels Communication Channels:- Used to communicate the product message. Distribution Channels:- Used to physically deliver the goods and services. Service Channels:- Used to facilitate the process of distribution.

9. Chain Supply Chain Supply Competition Competition Supply Chain consists of several parties such as suppliers, manufacturers, wholesalers, retailers, warehouses, transporters and finally consumers. Refers to offers of similar or substitute products by rival producers.

10. The New Marketing Realities (Modern Marketing) Technology 2. Globalisation 3. Social Responsibility 4. Competition 5. Deregulation 6. Privatisation 7. Retail Revolution 8. Direct Marketing 9. Consumer Movement 10. E-Marketing 1.

11. Features of Modern Marketing Concept Consumer Oriented Begins and ends with consumers Precedes and succeeds production Guiding element of business Emphasises Integrated marketing Competition Oriented Focuses Customer Retention Technology based Based on Segmentation and Targeting Global in nature Employs Direct Marketing

12. Marketing Philosophies (Marketing Concepts) Production Concept Product Concept Selling Concept Marketing Concept Social Marketing Concept Holistic Marketing Concept 1. 2. 3. 4. 5. 6.

13. Components of Holistic Concept Relation ship Marketing Integrated Marketing Internal Marketing Performance Marketing a) b) c) d)