1 Intro Mkt. - Copy.ppt

7/29/2019 1 Intro Mkt. - Copy.ppt

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Prof. B. Dutta Gupta

IIPM, Kolkata


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Bijan Dutta GuptaFacebook: Bijan D.Gupta


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What do we study in marketing?

Who,

What,

Where,When/How and

Why

Do you buy a product

or service


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Class discussion Name or brand of a product does not

matter

What matters is the quality.

Agree or do not agree?


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Management games

Identify the product or brand

Tension Bhagao, Team ko Jitao

Kight Riders

'Isko lagadala, toh lifejingalala.. Tata Sky

Relationships beyond banking

Bank of India

Thanda-thanda, cool-cool'

Himani Navratna oil

Long & Strong hair shampoo

Garnier


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Identify the product or brand The banker to every Indian

State Bank of India

The axe effect

Axe : men's hair care, styling, body spray,

Dimag Ki Batti Jala De Mentos

Definitely Male

Bajaj Pulsar

Gods own country Kerala

Just Jockeying

Jockey inner ware


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Name the company behind

these biscuit brands.. Krackjack

Parle

Tiger Britannia

Butter Biscotti Real butter in every bite.

Bisk Farm


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What is meant by market? Market is an organized place where buyers and sellers of a particular

commodity meet and transact business.

Market : various groupings of customers

Sellers: Industries that produce the products

Buyers : customers that constitutes the market.

IndustryA collection of

sellers

MarketA group ofbuyers

GoodsCommunicati

on

MoneyInformation


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Market DefinitionAn actual or nominal placewhere forces of demand andsupply operate, andwhere buyersand sellers interact

(directly orthrough intermediaries)to trade goods, services,or contracts or instruments,for money or barter.


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What is the difference between

market and industry ? Markets and industries are not the same things

A Market consists of a group of current and/or

potential customers having a willingness and ability

to buy products (goods and services) to satisfy a

particular class of wants and needs.

A market is a set of buyers (individuals, firms) andtheir needs. Not to be confused with products

Example: Businesspeople who get hungry between

meals during the workday market for biscuits, snacks


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An IndustryAn Industryconsists of sellers typically

organizations that offer a product or a class ofproducts that are similar and close substitutes

Example :

For snack industry

Bisk Farm, Britannia, Parle etc.

For laptop computer industry:

HP, Dell and Lenovo.For auto industry :-

Mariti, Hindustan Motors, etc


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Key terms used in marketing

Marketer : One that sells goodsor services in or to a market,especially one that markets a

specified commodity;

Manufacturer

Wholesaler

Trader

Shopkeeper


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Market share : The portion of a market controlled bya particular company or product

Target market : A 'target market or target Audience isthe market segment which a particular product ismarketed to.

It is often defined by age, gender and/or socio-

economic grouping. Example : Market share of LUX soap is 30% for young

Indian women of the age group 18 35.

Key terms used in marketing


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Calculate market share:

Sales of brand X

Total market size x 100%

Example : The sales of LUX soap was Rs 30 million in a total

market of Rs.100 million.

Market share of LUX is : Rs 30 million

Rs 100 million x 100%

Ans : 30 %

Market share


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What is Marketing? The management process through which goods and

services move from concept to the customer.

As a practice, it consists in coordination offour elements called 4P's:

(1) Product :identification, selection,and development of a product,

(2) Price : determination of its price,

(3) Place : selection of a distribution channel to reachthe customer's place, and

(4) Promotion : development and implementation ofa promotional strategy.


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Four elements of

marketing


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Definition for Marketing


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Test Yourself Marketing activities are performed by all whether it is

a manufacturing, wholesaler, retailer, government ornon-governmental organization (NGO).

A)True B) false.


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Test Yourself Marketing activities are performed by all whether it is

a manufacturing, wholesaler, retailer, government ornon-governmental organization (NGO).

A)True B) false.


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Test Yourself Marketing is the management

___________responsible for identifying, anticipatingand satisfying customers requirements profitably.

a) vision

b) process

c) mission


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Test Yourself Marketing is the management

___________responsible for identifying, anticipatingand satisfying customers requirements profitably.

a) vision

b) process

c) mission


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Consumer; Customer Consumer : Consumers are individuals or households

that "consume" goods and services generated withinthe economy.

Customer : One that regularlybuys goods or servicesfrom a company


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Test YourselfA mother who does the shopping for the family in a

supermarket is a

A) customer

B) consumer C) both.

At home she prepares diner for her mother-in-law,husband and children. Her family members are:

A) Customer

B) Consumer

C) Both


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Test Yourself

A mother does the shopping for the family in asupermarket. At home she prepares diner for hermother-in-law, husband and children. The mother is

A) customer

B) consumer C) both

Her family members are:

A) Customer

B) Consumer C) both.


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Evolution of Marketing


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How has marketing evolved over the past 50

years?

Simple trade era: everything available was made orharvested by hand and available in limited supply

Production era : the time of the industrial revolution.

Sales era : pent-up consumer demand became saturated.

Marketing department era: advertising, sales promotion,public relations, etc. started

Marketing company era: the customer became king. Allemployees became part of the marketing effort, either

directly or indirectly Relationship marketing era: Building Relationships One

Customer at a Time!


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Marketing PhilosophyAs a philosophy, marketing is based on thinking

about the business in terms of customer needs andtheir satisfaction.


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Marketing ConceptThe achievement of corporate goals through meetingand exceeding customer needs better than the

competition

Goal

achievement

Integrated effortCustomer

Orientation

What is marketing concept?


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What are the Key components of the

marketing concept?

Marketing concept :1. Betterachievement of corporate goals through

meeting and exceeding customer needs than thecompetition.

2.Customer orientation Corporate activities are

focused upon providing customer satisfaction

3.Integrated effortAll staff accept the

responsibilityfor creating customer satisfaction.4.Goal achievement The beliefthat corporate goals

can be achieved through customer satisfaction.


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Customer orientationWhat Is the Meaning of Customer Orientation? Customer orientation refers to customer-centric

marketing done by a company.


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The development of marketing

Production

capabilities

Manufacture

Product

Aggressive

sales effortCustomers

Customerneed

Potential

marketopportunities

Marketing

product &services

Customers

Production orientation

Marketing/Customer orientation


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SBI Hyderabad crorepati only branch:

production orientation or marketing orientation?

Got 1 crore? Open a/c at SBI's exclusive branch.

SBI launched a crorepati only' branch in Hyderabad onThursday. Located in the city's upmarket Banjara Hillsarea


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End of part 1


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The Nature of Modern Marketing

Is modern marketing more like electricity(essential) or junk food ( not essential)?

It is like Electricity : we obviouslycannot run ourglobalized economy without it.

It is like junk food _ little nutritional value, bad foryour health ( pocket), and a hard habit to kick.

All modern organisations engage in marketing tobe able to please and win the loyal support oftheir customers.


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What is the Nature (character)of

modern marketing?

Marketing is always trying to identify, anticipate

and satisfy consumer requirements profitably. Example :

Gillette engages in marketing to satisfy needs andrequirements of shavers,

ICICI bank & SBI tries to satisfy its customersfinancial services requirements,


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What are the Scopes of marketing?

The scope of the marketing includes

1.Idea generation for new products or services

2. Market research to find markets for new

products

3.Deciding at what price to sell the products

4.Deciding how to promote

5.After sales service :How to satisfy customersafter they have purchased the product?


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What are the main functions of Marketing?

According to Cundiff and Still :

1. Merchandising Functions

A) Product planning and development

B) Buying and assembling

C) Selling 2.Physical distribution functions

A) Storage & warehousing

B) Transportation

3.Auxillary functions

A) Marketing finance

B) Market information


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What are the main functions

of Marketing?Auxiliary functions:

A) Marketing finance

B) Risk bearing C) Market information


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Test Yourself Shruti has budgeted Rs.25,000 for buying a

camcorder from Sony. Sony can offer differentcamcorder models in Rs.19,000/- to Rs.35,000/-price range. For Sony she isa) an important customer

b) a target market

c) a penetrated market.


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Test Yourself Shruti has budgeted Rs.25,000 for buying a

camcorder from Sony. Sony can offer differentcamcorder models in Rs.19,000/- to Rs.35,000/-price range. For Sony she isa) an important customer

b) a target market

c) a penetrated market.


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Thank You

1 Intro Mkt. - Copy.ppt

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