Introduction to MarketingEng. Ranil Sugathadasa
BSc.Eng(Hons),MSc.Eng(Moratuwa),MIE(SL),MILT(UK), CEng,
MBA(Colombo),PMP (USA)
Management Consultant/Motivational Trainer/ Executive Coach/Chartered
Engineer
Senior Lecturer, Faculty of Engineering, University of Moratuwa
Founder: TheMotivator
www.themotivator.lk
Phone: 0777 224038
Email: [email protected]
The Marketing Concept –
Some Definitions
Marketing is the management process whichidentifies, anticipates and satisfies customerrequirements efficiently and profitably.
- Chartered Institute of Marketing (UK)
Marketing is a societal process by which
individuals and groups obtain what they need
and want through creating, offering, and
exchanging products and services of value with
others.
Philip Kotler and Kevin Keller
Marketing is an organizational function and a set
of processes for creating, communicating and
delivering value to customer relationships in
ways that benefit the organization and its stake
holders.
American Marketing Association
Integration of Marketing,
Logistics & Supply Chain
Marketing identify customer needs and
requirements and decide on the best offering
to satisfy the need. Logistics and supply
chain integrates with marketing to create
superior customer value.
What is marketed?
Goods
Services
Places Properties
Persons
Information
What is marketed?
What is marketed?
Experiences
Events
Ideas
Organisations
Evolution of Marketing –
Development of Marketing Orientation
Production concept
‘The customer can have any colour as long as it’s black’
- Henry ford, 1920
Product concept
‘Golden Mouse Trap’
Selling concept
Selling a refrigerator to an Eskimo
Marketing as a Management
Function
Planning
Control
Analysis
Implementation
Micro & Macro Marketing
Micro marketing is the performance of
activities that seek to accomplish an
organization's objectives by anticipating
customer needs and directing a flow of
need satisfying goods and services from
producer to customer or client.
Micro & Macro Marketing (Con’t)
Macro marketing looks at the system as a whole which directs need satisfying flow of goods and services to match the demand of the market.
Objective is to effectively match the heterogeneous supply and demand to accomplish society’s objectives.
Why is Marketing important?
As a consumer
Consumers pay for the cost of marketing activities.
Different Applications
As individuals
Public/private
Profit oriented/non profit
Product /service supplier
Key Concepts in Marketing
Market
Target Market
Industry
(Sellers)
Market
(Buyers)Goods/Services
Communication
Information
Money
Key Concepts in Marketing (Con’t)
Marketer
Needs –a state of felt deprivation
Wants -a need which is directed to specific object in order to satisfy the need
Demand - wants for specific products/services backed by an ability to pay
Offering – what is marketed?
Value and Satisfaction
Value = Benefits/Costs
Benefits- Functional +Emotional
Costs – Money+ Time+ Energy + Psychic
How to increase value?
A firm that offers superior customer value is likely to win and keep customers
Key Concepts in Marketing (Con’t)
Customer -a current and prospective buyer. The
KING
Relationship Marketing- long – term mutually
satisfying relations with key parties- customers,
suppliers, distributors
Key Concepts in Marketing (Con’t)
Key Concepts in Marketing (Con’t)
Marketing channels
Communication channels,
Distribution channels,
Service channels
Competition
Actual and potential rival offerings and substitutes
Marketing Environment
Key Concepts in Marketing (Con’t)
Determine Customer
Needs
Invest resources
Make product/service
Market product/service
(profit via customer
satisfaction)
Market feedback
Sell the product (profit
via increased turnover
Make product
Invest resource
Determine whether
product can be made
Market Orientation Sales/Production Orientation
Holistic marketing
This is a combination of four set of forces
which came into practice in the recent
decades. They are relationship marketing,
integrated marketing, internal marketing and
social responsibility marketing.
Customer at the centre
Key Concepts in Marketing (Con’t)
Marketing Mix
Seller – 4 Ps
Product
Price
Place
Promotion
Buyer - 4 Cs
Customer Solution
Customer Cost
Convenience
Communication
Marketing in the Transport and
Logistics Sector
Logistics management
The 7 R’s
Deliver the right goods in the right
quantity, at the right place, at the right
time in the right condition at the right
price with the right information.