Excom presentation on Marketing

Submitted to

Narender Wadi

Submitted By

Arsh Koul

What is marketing

According to Kotler “Marketing is the social process by which individuals and organizations obtain what they need and want through creating and exchanging value with others”.

Marketing can also be defined as ‘The right product, in the right place, at the right time, and at the right price’

Birth of marketing ideasIn pre-modern economies, the predominance of small

enterprises militated against the recognition of marketing as a separate field of expertise. Changes in the patterns and intensity of economic activity, as well as the rise of economics as a science, particularly in the 19th century, paved the way for studies of marketing. The growth in size and scope of national and international economies in the course of the Industrial revolution led eventually to a transcendence of ad hoc retailing and advertising innovations and eventually to systematization. Marketing emerged as a separate technical field only in the late 19th century

Much of traditional marketing practice prior to the twentieth century remained hidebound by rules-of-thumb and lack of information. Information technology, especially since the mid-twentieth century, has given the marketeer new channels of communication as well as enhanced means of aggregating and analyzing marketing data. Specializations have emerged (especially sales versus marketing and advertising versus retailing) and re-combined (business development) over the years.

Barter System

Production orientation era

Product orientation era

Market orientation era

Relationship orientation

SocialMarketing

Periodization Of Marketing

Barter systemBarter System is that system in which goods are

exchanged for goods. In ancient times when money was not invented trade as a whole was on barter system. This was possible only in a simple economy but after the development of economy, direct exchange of goods without the use of money, was not without defects. There were various defects in this system

Production orientation

A production orientation dominated business thought from the beginning of capitalism to the mid 1950s, and some argue it still exists in some industries. Business concerned itself primarily with production, manufacturing, and efficiency issues. Say's Law encapsulated this viewpoint, stating: "Supply creates its own demand". This orientation rose to prominence in an environment which had a shortage of manufactured goods relative to demand, so goods sold easily.

Product orientation eraProduct orientation era was a business philosophy prior to

the 1920's where manufacturers stressed production of quality products and then looked for people to purchase them. In this era, manufacturers felt that good products with high physical quality would sell itself

Market orientation eraFirms that have moved from simply having a marketing

department that follows a customer orientation to having the marketing department guide the company's direction are called marketing companies. In marketing companies, the marketing department sets company operating policy, including technical research, procurement, production, advertising, and sales

Relationship orientationStarting in the 1990’s, a new stage of marketing emerged

called relationship marketing. The focus of relationship marketing is on a long-term relationship that benefits both the company and the customer. The relationship is based on trust and commitment, and both companies tend to shift their operating activities to be able to work more efficiently together.

The societal marketing conceptSocietal marketing emerged in the 1960s. The societal

marketing concept deals with the needs, wants and demands of customers: how to satisfy them by producing superior value that should satisfy the customers and promote the well-being of society. The producer should not produce products deemed hazardous to society.

PRESENT SCENERIO OF MARKETING

Digital marketing orientationSales Era

Digital Marketing EraDigital marketing may cover the more traditional

marketing areas such as Direct Marketing by providing the same method of communicating with an audience but in a digital fashion.

Pull and PushPull digital marketing in which the consumer must

actively seek the marketing content, often via web searches, and push digital marketing where the marketer sends the content to the consumer, as in email

Sales EraIt’s the only job where you deal with the

customer. You have to satisfy him in order to do your job. Only revenue earning profile in company

Focus on aggressive sales techniques and believe that high sales result in high profits

FUTURE SCENERIO OF MARKETINGCustomizations of productSocial NetworkDigital Marketing

The future of marketing lies ahead in online marketing, using social networks to market the products, using and inventing new technologies for marketing and in delighting the customers by coming up with customized products for them.

Customizations of productCustomization is one aspect which shall play a huge role for

marketing products. Customization not only makes the customer feel happy and satisfied but it also helps the company in achieving long term and profitable consumers. For example airtel provides its users with customized mobile plans depending on their usage and preference. Also levi's is starting to make customized jeans for their customers by charging a little extra

Social NetworkNowadays social networking sites are a rage amongst the

youngsters and with more than 850 million registered users, sites like Facebook and twitter are the hot places for targeting your customers. A lot of people spend a significant amount of time on them and so they provide a huge opportunity for marketers which can not  not be denied. On social networks the products can be customized in accordance with the user's needs and also it helps in making the products popular quickly as word of mouth helps in achieving success and it also provides companies to come closer to their customers and recognize and create new products for them.

With the world population reaching mind boggling digits and new companies day in and day out, marketers need to come out with new and innovative ways of marketing the products .For example facebook recently came up with its timeline feature which allows its users to tell the story of their life starting from their childhood to the time they turn into baby boomers

Digital MarketingDigital Marketing is the practice of promoting products

and services using database-driven online distribution channels to reach consumers in a timely, relevant, personal and cost-effective manner.

Not surprisingly, billions of marketing dollars spent on traditional channels is already starting to shift to digital marketing campaigns and this will continue to increase as the Web matures.

Some more but up comingExciting upcoming technologies like Near Field

Communication(NFC) and cloud computing provide interesting platforms for marketers to market their products