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Definitions of Marketing

Marketing is the delivery of standard of living to asociety. Paul Mazur

Marketing is creation and the delivery of standard ofliving to a society. Malcolm M cNair

Marketing is the process of planning and executing theconception, pricing, promotion and distributing of ideas,goods and services to create exchanges that satisfyindividual and organizational objectives. AMA

Marketing is a total system of interacting businessactivities designed to plan price, promote and distributewant satisfying products and services to target marketsto achieve organizational objectives. Will iam Stanton

Marketing

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Marketing is the performance of business of business activities

which direct the flow of goods and services from producer to the

customer in order to satisfy the customers and accomplish the

companys objectives (micro view) and marketing is concerned

with designing an efficient an fair system which will direct an

economys flow of goods and services from producers toconsumers and accomplish the objectives of the society. Jerome

McCarthy

Marketing is a social and managerial process whereby

individuals and groups obtain what they need and want through

creating and exchanging products and value with others. Kotler& Gary Armstrong

Marketing

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Marketing Management

In order to deal with exchange process, there is a needfor considerable amount of work and skills.

Organizations who handle exchange process must

attract resources from one set of markets, convert them

into useful products and sell them into another set ofmarket.

Here comes the role of marketing management.

Marketing Management takes place when one party

tries to deal with exchange with the other party fora desired response.

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Definition of Marketing Management

The analysis, planning, implementation and control of

programs designed to create build and maintain beneficialexchanges with target buyers for the purpose of achieving

organizational objectives.

Marketing Functions

In order to carry out various marketing functions, themarketing management is formally carried out by sales

managers, product managers, vice-president marketing,

product line managers etc.

Each manager carries well defined tasks and

responsibilities. Some of them manage resources and

others manage marketing programs.

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Marketing Management Tasks

The popular image of marketing manager is to stimulate thedemand for the companies products. However, this is a limited

view as there is diversity of jobs that are performed by marketingmanagers.

Marketing Management has the task of influencing the level,timing and composition of demand in a way that will help theorganization to achieve its objectives. Therefore, marketing

management is essentially a demand management. Organization forms an idea of desired level of transaction with

target market. The actual demand may be equal, lower or higherthan the desired level depending upon the type of demand state.

The marketing management has to cope up with different demandstates for its product and services and perform various tasks formaintaining the desired level of transactions with the targetmarket.

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There are different states of demand for a specific

product or service and marketing management has tocope up with these demand states which require differenttasks to be performed by the marketing management to

bring the actual demand at par with the desired level ofdemand.

Marketing managers cope up with these tasks bycarrying out various marketing functions such asmarketing research, advertising, sales promotion,

pricing, product development, distribution etc.

The various demand states and the correspondingmarketing tasks will be discussed next.

Demand States

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A market is in a state of negative demand if the majorpart of the market dislikes the product and may even pay

a price to avoid it.

The marketing task is to analyze why the market dislikes

the product and whether a marketing program consisting

of product redesign, lower prices and more positive

promotion can change beliefs and attitudes.

The marketing task here is known as ConversionalMarketingi.e. converting the negative to positive.

Negative Demand State

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Target consumers may be unaware of or uninterested inthe product.

The marketing task is to find ways to connect the

benefits of the product with the consumers needs and

interests.

The task of marketing is called Stimulational

Marketing.

No Demand State

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Many consumers may share a strong need that cannot besatisfied by any existing product.

There is a strong latent demand for many products

which may not be available to the consumers at a

particular point of time.

The marketing task is to measure the size of the potential

market and develop goods and services to satisfy the

demand.The task of marketing management is known as

Developmental Marketing.

Latent Demand State

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Every organization sooner or later faces decliningdemand for one or more of its products.

The marketer must analyze the causes of decline and

determine whether demand can be re-stimulated by new

target markets, by changing product features or by more

effective communication. The marketing task is to

reverse declining demand through creative remarketing.

This marketing task is known as Remarketing.

Falling/Declining Demand State

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Many organizations face demand that varies on aseasonal, daily or even hourly basis causing problems of

idle or overworked capacity.

The marketing task is to alter the pattern of demand

through flexible pricing, promotion and other incentives.

The marketing task is to synchronize the demand with

the production.

This marketing task is known as Synchromarketing.

Irregular Demand State

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Organizations face full demand for their products whenthey are pleased with their volume of business.

Here, the actual demand of a product is equal to thedesired state of demand. From the organizational pointof view, this is the best demand state.

The marketing task is to maintain the current level ofdemand in the face of changing consumer preferencesand increasing competition.

The organization must maintain or improve its qualityand continually measure consumer satisfaction.

This marketing task is known as MaintenanceMarketing.

Full Demand State

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Some organizations face a demand level that is higherthan they can want to handle. Here the actual demand is

more than the desired level.

Here, the organizations have to find out ways to reduce

the demand temporarily or permanently by discouraging

overall demand and take such steps as raising prices and

reducing promotion or service.

This marketing task is known as Demarketing.

Overfull Demand State

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There are certain products and services which are considered to

be injurious or harmful to the society if their consumption is

continued. These products are considered by the society as

unwholesome.

Unselling campaigns have been conducted against cigarettes,alcohol, hard drugs, X-rated movies and large families.

The marketing task is to get people who like something to give it

up, using such tools as fear messages, price hikes and reduce

availability. The marketing task is known as Countermarketing.

Unwholesome Demand State