Concepts of Marketing: Marketing (HSEB 10+2) (Lecture 1.6)
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Transcript of Concepts of Marketing: Marketing (HSEB 10+2) (Lecture 1.6)
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Review Lecture 1.5 Assignment 9:
Research and identify at least 20 specific cases where your school might need help from a marketing expert.
Lecture Review – Importance of Marketing:
Consumers
Firms
Society
1.6 Concepts of MarketingKAUSHAL RAJ SAPKOTA
FACULTY, MARKETING (HSEB 10+2), ULLENS SCHOOL
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5 Marketing Concepts
Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept
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Production Concept One of the oldest concepts
Consumers: Buy products that are widely available and have lower price, do not care about features
Producers: Cut Costs and Expand Market Sizes
Low cost production
Mass production
Wide distribution
When and Where:
High Demand and
Mass Production
Limitations: Innovation related advantages
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Product Concept Consumers: Buy products that are of highest quality, performance and innovative features
Focus: Product – Love affair with the product
Producers: Continuous improvement in Quality
Quality oriented philosophy
Quality at reasonable price
Doesn’t care consumer’s needs, wants or interests Existing and available solutions
Quality improvements over time Sales
Limitations:
Marketing Myopia Short sightedness
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Selling Concept Consumers: Will not buy until they are persuaded to
Focus: Selling
Producers: Sales oriented philosophy: Produce the product, make them buy
Selling what is made than what can be sold
Aggressive promotion
Doesn’t care consumer’s needs, wants or interests sell what they make
Where and When:
Buyers do not normally think of buying
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Marketing Concept Challenges above three concepts
Contemporary marketing philosophy
Focus: Consumer Needs, Selling satisfaction than a product
Four pillars:
Target Markets
Customer Needs
Integrated Marketing
Profitability
Producers:
Market Research and Product Development are key
Focus is on finding customers needs and developing solutions
Creating developing and communicating customer value
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Selling Concept vs. Marketing Concept
Selling Concept Marketing ConceptFocuses on the needs of the seller to convert products into cash
Focuses on the needs of the customer
Profit through increased sales Profit through increased satisfaction
Aggressive selling, heavy promotion
Heavy promotion
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Societal Marketing Concept Aims at promoting social welfare
Socially responsible marketing activities
Integration of all organizational activities
Profit through customer and social well being
Complementary to other concepts
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End of the lecture Assignment 10 and 11:
Research and identify at least 3 products/brands that apply/could apply each of the above mentioned concepts of marketing. You need to explain the reasons behind your categorization.
TATA Swach Smart Case Study
Thought of the day:
“Marketing is too important to be left to the marketing department.”
- David Packard