What is

scope of

Marketing?

OVERVIEW:• What is

Marketing?• What is

Marketed?• Who Markets?

What is Marketing?

American Marketing Association defines:“Marketing is a activity, set of institutions, and process of creating, communicating, delivering, and exchanging offering that have value for customers, clients, partners, and society at large.”

Social Definition:“Marketing is a societal process by which individuals and groups obtain what they need and want by creating, offering, and freely exchanging products and services of value with others.”

Managerial Definition:“Defined as the aim to know and understand customers so well that the product or service fits in and sells itself. Ideally, results in a customer who is ready to buy.”

Simply defined as, “Identifying and meeting needs profitably”

What is Marketed?

1.GoodsPhysical Goods, Cars, trucks, TV sets, machine tools,

cosmetics…..

2.ServicesHotels, Car rentals, Software programmers, management consultants, bankers, lawyers….

3. EventsArtistic performances, company anniversaries, Sporting events

4. ExperiencesAmusement park, theme based restaurants

5. PersonsCelebrities- Artists, musicians, CEOs, physicians, financers

6.PlacesTourism, real estate agents, local business associations

7.PropertiesReal estate, stocks, bonds

8. Organisations

9. InformationProduction, packing and distribution of Information

10. Ideas

Who Markets?

Marketer and Prospects

A marketer is someone who seeks a response-

attention, a vote, a purchase, a donation from

other party called prospect.

Marketer is responsible for Demand Management,

skilled at stimulating demands for products.

Markets

Market is a collection of buyers and sellers who

transact over particular product or

product class.

Structure of Flows in a Modern Exchange Economy

A simple Marketing System

Key Customer Markets

Consumer MarketsCompanies selling mass consumer goods and services Business

MarketsCompanies selling business goods and services Non profit and

Government MarketsCompanies selling to Non Profit organisations

Global MarketsCompanies in global marketplace

Marketplace, Marketspace, MetaMarket

MetaMarket:MetaMarket is a cluster of

complementary products and services closely related in minds of consumers,

but spread across a diverse set of Industries

Marketplace:The marketplace is physical, such as a

store you shop in

Marketspace:The marketspace is digital, as

when you shop in Internet

Interested to know more, Refer

Available in All Leading Stores,

A South Asian Prospective Marketing Management14th Edition, Philip Kotler

Credits:

• iStockPhoto.com for professional Pics.• Photobucket.com for Marketing Child Example Image.• Colorlovers.com for Colour Scheming.• Images.Google.com for Advertisements Imagesand Brand Images

and also Indian local image base.• A South Asian Perspective to Marketing Management 14th Edition

Book by Kotler, Chapter 1: Defining Marketing for 21st Century.

A Shashank Motepalli Presentation

Thanks