The United States Edition of Marketing Management, 14e. 1-1

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Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from
the United States edition of Marketing Management, 14e.
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What Is Marketing?
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 Financial Success Depends on
Marketing Ability
 Finance, Operation, Accounting, Supply Chain may not
if there is no sufficient
effective
demand for Product and Service
 All firms pay
multinationals and global
special attention to their Marketing

Department
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SALARY(1%)
RETURN(70%)
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Latest Definition of Marketing By
Kotler
Marketing is an organizational function

and a set of processes for creating,
communicating, and delivering value
to customers and for managing
customer relationships in ways that
benefit the organization and its
stakeholders.
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The Marketing Process
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What Is Marketing Management?
Marketing management is the

art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.
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What Is Marketed?
• Goods
• Services
• Events
• Experiences
• Places
Copyright © 2011 Pearson Education, Inc. Publishing 1-21

Copyright © 2013 Dorling Kindersley (India) PvtasLtd.
Prentice Hall adaptation from
Authorized 1-21
What Is Marketed?
• Persons
• Properties
• Organizations
• Information
• Ideas
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Goods
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Physical goods that may be manufactured, produced
in farms or mined. These account for the bulk of the
marketing efforts in most of the countries.
Goods
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Services
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Differences between
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Where Industry Dominates BD
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Events
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Events
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Experiences
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Experience
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Person
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She’s still one of the few
actresses who can demand a Cristiano Ronaldo – $73
paycheck worth of $15 million
million for the right movie
UFC Ring Girl Brittney Palmer top the list of

most beautiful women in sports.
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Place
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Place
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Properties
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Properties
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Organizations
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Organizations
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Information
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Ideas
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IDEA
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Demand States
 Negative  Irregular
 Nonexistent  Unwholesome
 Latent  Full
 Declining  Overfull
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What is Market?
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Mass People Ideas About Market.
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Marketers Ideas About Markets
Group of entities sharing

similar attributes.
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Figure 1.1 Structure of Flows in
Modern Exchange Economy
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Figure 1.2
A Simple Marketing System
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Key Customer Markets
 Consumer markets
 Business markets
 Global markets
 Nonprofit/Government markets
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Key Customer Markets
Consumer Market
Global Markets
Government Market
Business Markets
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Market places
Market spaces
Meta markets
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Rural Markets in South Asia
 Rural markets offer immense potential for

market expansion and growth:
 Consumption in rural markets predicted to
grow at a CAGR of 5% in the next two

decades.
 Size and growth rate for many products
and product categories are very attractive.

 48 percent of the rural population is below
20 years of age.
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Core Concepts
 Needs, wants, and  Value and

demands satisfaction
 Target markets,  Marketing channels
positioning,  Supply chain
segmentation  Competition
 Offerings and  Marketing
brands environment
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Core Marketing Concepts
Needs, Wants,
and Demands
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Wants
The form of
needs as
Need shaped by
State of felt culture and the
deprivation individual Demands
Wants which are
backed by buying
power
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Types of Needs
Stated
Real
Unstated
Delight
Secret
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Core Marketing Concepts
Segmentation
Target Markets
Positioning
STP Process
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Target Markets,
Positioning & Segmentation
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Offerings and Brands
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Value and Satisfaction
Quality
Service
Price
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Marketing Channels
Communication
Distribution
Service
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Marketing Environment
Demographic Economic
Socio-cultural
Political-legal
Technological Natural
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Major Societal Forces
 Network information  Retail transformation

technology  Disintermediation
 Globalization  Consumer buying power
 Deregulation  Consumer information
 Heightened competition  Consumer participation
 Industry convergence  Consumer resistance
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Company Orientations
Production
Product
Selling
Marketing
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Marketing Concepts
Quality Create, deliver, and

Innovation communicate value
Production Product Selling Marketing Holistic

Mass Unsought
production goods
Mass Overcapacity
distribution
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Production Concept
Favor products that are available and highly

Philosophy affordable and itself create the demand.
High production efficiency by

Objective Minimizing cost and
Distribute everywhere
Improving production with Quantity

How?
distribution efficiency.
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Advantages of production concept
 Will never run low on the

product.
 produces as much of a
product as they can.
 Selling at a very
reasonable price.
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Disadvantages of Production
Concept
 Budgets can get really

tight.
 Manufacturing and
Distribution related cost.
 Overhead cost is very
high.
 entirely unrealistic in a
"credit crunch" economy.
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The Product Concept
Quality
Standard
Performance
Innovative Feature
Continuous product improvement

Objective Improvement of the inventory
Making superior product and improving
them.
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Product
quality
Product Product
feature Product process
profit
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Advantages
 do not need extensive research into

their target audience.
 Do not need a lot of well planned and

specifically driven marketing
campaigns.
 Can save a lot.
 focus on best product rather than

customer’s needs.
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Disadvantages
 Marketing Myopia.
 Not carrying out detailed research

about target audience.
 Not supplying the product

specifications for the audience’s
desires and needs.
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Selling Concept
Selling unnecessarily - P.F .Drucker
Philosophy Try to large sale and able to sale.
Aggressive selling and promotion effort
Sell more staff to more people more

Objective often for money in order to make more
profits.
Aggressive promotion to create

How? demand.
When??
Unsought Goods
Having over capacity.
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Starting Point Focus Means End
PROFITS
EXISTING SELLING & THROUGH
FACTORY
PRODUCT PROMOTION SALES
VOLUME
Inside Out Concept

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Advantages of Selling Concept
 emphasis on selling the

product.
 focused on sell many products.
 Consumers who are coaxed
into buying the product will like
it.
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Disadvantages of Selling Concept
 Aggressive selling carries high

risks.
 do not focuses on building
long-term profitable customer
relationship.
 The aim often is to sell what the
company makes rather than
making what the market wants
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The Marketing Concept
KYC
Sense
1950’ and
Respond
s Marketing
Concept
Customer
Customize Driven
d Goods
Best
concept
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The Marketing Concept
knowing the needs and wants of target markets

Philosophy and delivering the desired satisfactions better than
competitors do.
Not finding the right customer for your

product ………………
Objective but finding the right product for your
customer ……………
Effectiveness & Efficiency
Understanding customer needs

How?
and wants.
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Starting Point Focus Means End
PROFITS
INTEGRATE THROUGH
CUSTOMER SATISFACTION
MARKET D
NEEDS &
MARKEING RELATIONSHIP
Outside In Concept
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Advantages of marketing Concept
• The target customer group. .
• Emphasis on customer wants and needs
• Marketers have altered the product to suit

these ideals and desires.
• increase customer loyalty, brand image

and status in the industry.
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Disadvantages of Marketing Concept
 Less emphasis on perpetual

improvement of production
processes and efficiency.
 New equipment and production
processes emerge all the time in
industries.
 If the company is not constantly
watching for these improvements,
it can fall behind.
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Societal Marketing Concept
Society(Human Welfare)
Company(Profits) Consumers(satisfaction)
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Advantages of Societal Marketing
Concept
 Enhancing corporate
reputation.
 Raise brand awareness.
 Increase Customer loyalty.
 Build sales and increase press
coverage.
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Disadvantages of Societal marketing
Concept
 Producers ensure their profit

first.
 Advertising increases
production cost.
 Societal marketing is a slow
process.
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Figure 1.3
Holistic Marketing
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Relationship Marketing
Customers
Employees
Marketing Partners
Financial Community
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•CRM
•PRM
•Cross Selling
•Up Selling
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Integrated Marketing
Key themes:
(1) many different marketing activities can
create, communicate, and deliver value, and
(2) marketers should design and implement
any one marketing activity with all other
activities in mind.
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Internal Marketing
Internal marketing is the task of

hiring, training, and motivating able employees
who want to serve customers well.
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Performance Marketing
Financial Social Responsibility

Accountability Marketing
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About:
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Internal marketing of Unilever
Bangladesh limited:
Unilever Bangladesh limited hires people

through different ways:
 competitions
 Newspaper
 Internet
 Website
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Motivation
Transport Mobile Residence Attractive

Bonus
facilities facilities facilities environment
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Integrated marketing of Unilever
Bangladesh limited:
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TV
&
Online
advertising
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Testimonial advertising
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Sales promotion
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Public Relation:
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Campaign: Unilever And Planet Ark
Unite For Recycling Week
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Performance Marketing:
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Figure 1.4
The Marketing Mix
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The New Four Ps
People
Processes
Programs
Performance
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Marketing Management Tasks
 Develop market strategies and plans

 Assess market opportunities and customer
value
 Choose value
 Design value
 Deliver value
 Communicate value
 Sustain growth and value
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Who is Responsible for
Marketing?
Marketing
Entire Organization
Department
Chief Marketing
Officer
(CMO)
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For Review
 Why is marketing important?

 What is the scope of marketing?
 What are some fundamental marketing
concepts?
 How has marketing management changed?
 What are the tasks necessary for successful
marketing management?
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special attention to their Marketing

Marketing is an organizational function

Marketing management is the

Copyright © 2011 Pearson Education, Inc. Publishing 1-21

UFC Ring Girl Brittney Palmer top the list of

Group of entities sharing

 Rural markets offer immense potential for

grow at a CAGR of 5% in the next two

and product categories are very attractive.

 Needs, wants, and  Value and

 Network information  Retail transformation

Quality Create, deliver, and

Production Product Selling Marketing Holistic

Favor products that are available and highly

High production efficiency by

Improving production with Quantity

 Will never run low on the

 Budgets can get really

Continuous product improvement

 do not need extensive research into

 Do not need a lot of well planned and

 Can save a lot.

 focus on best product rather than

 Not carrying out detailed research

 Not supplying the product

Sell more staff to more people more

Aggressive promotion to create

Inside Out Concept

 emphasis on selling the

 Aggressive selling carries high

knowing the needs and wants of target markets

Not finding the right customer for your

Understanding customer needs

• Emphasis on customer wants and needs

• Marketers have altered the product to suit

• increase customer loyalty, brand image

 Less emphasis on perpetual

 Producers ensure their profit

Internal marketing is the task of

Financial Social Responsibility

Unilever Bangladesh limited hires people

Transport Mobile Residence Attractive

 Develop market strategies and plans

 Why is marketing important?

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