8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 1/22
Marketing in a Changing
World
SAURABHASST. PROFESSOR
COLLEGE OF MANAGEMENT
SMVDU, KAKRYAL
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 2/22
What is Marketing?
• Process by which individuals andgroups obtain what they needneed andwantwant through creating and
exchanging productsexchanging products and valuewith others.
• More simply: Marketing is thedelivery of customer satisfaction at
a profit.
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 3/22
What is the Purpose of Marketing?
Satisfaction
• Functional Satisfaction• Psychological Satisfaction
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 4/22
Simple Marketing System
Money
Industry
(a collection
of sellers)
Market
(a collection
of Buyers)
Goods/services
Information
Communication
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 5/22
Conditions of Exchange
• There are at least two parties
• Each party has something of value to the other party
• Each party is capable of communication and delivery
• Each party is free to accept or reject the exchange offer
•Each party believes it is appropriate or desirable to dealwith the other party
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 6/22
ore Marketing Concepts
Productsand
Services
Value, satisfaction,and quality
Needs, wants,and demands
Exchange, transactions,and relationships
Markets
CoreMarketingConcepts
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 7/22
What Motivates a Consumer to Take Action?
• Needs Needs - state of felt deprivation for basicitems such as food and clothing andcomplex needs such as for belonging. i.e.I am thirsty
• WantsWants - form that a human need takes asshaped by culture and individual
personality. i.e. I want a Coca-Cola.
• DemandsDemands - human wants backed by buying
power. i.e. I have money to buy a Coca-Cola.
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 8/22
What Will Satisfy Consumer’s Needs and Wants?
• ProductsProducts - anythingthat can be offeredto a market for attention, acquisition,
use or consumptionand that mightsatisfy a need or want.
• Examples: persons,places,organizations,activities, and ideas.
• ServicesServices - activitiesor benefits offeredfor sale that areessentially intangible
and don’t result inthe ownership of anything.
• Examples: banking,airlines, haircuts,and hotels.
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 9/22
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 10/22
How do Consumers Obtain
Products and Services?
• ExchangesExchanges - act of obtaining a desired objectfrom someone by offering something in return.
• TransactionsTransactions - trade of values between parties.Usually involves money and a response.
• RelationshipsRelationships - building long-term relationshipswith consumers, distributors, dealers, andsuppliers.
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 11/22
Who Purchases Products
and Services?
Market - buyerswho share a
particular needor want that canbe satisfied by a
company’s productsor services.
ActualBuyers
PotentialBuyers
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 12/22
Modern Marketing System
Suppliers
End User
Market
Marketing
Intermediaries
CompetitorsCompany
(Marketer)
E n v i r o n m e
n t
E nvi r onm en t
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 13/22
Marketing Management
Marketing ManagementImplementing programs to create exchangeswith target buyers to achieve organizational
goals
Finding and increasing demand, alsochanging or reducing demand
Demand Management
Attracting new customers and
retaining current customers
Profitable Customer Relationships
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 14/22
The History of Marketing
• The Three Eras – The Production Era
– The Sales Era
– The Marketing Era
•The New Eras
-- Non-Business Marketing
-Strategic Marketing
-Social Responsibility
-International
-e-Commerce
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 15/22
Production Orientation• Focuses on internal capabilities of firm.
• “ Field of Dreams” strategy
–“If we build it, they will come”
• Best used when –competition is weak
–demand exceeds supply
–generic products competing solely on
price
• Problem is that they don’t understand
wants/needs of marketplace
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 16/22
Sales Orientation
• People will buy more goods/services if aggressive sales techniques are used.
• High sales will result in high profits.
• Used with unsought products
–life insurance
–encyclopedias• Problem is that they don’t understand
wants/needs of marketplace
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 17/22
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 18/22
Societal Marketing Orientation
• Organization exists not only to satisfycustomer wants/needs and to meet
organizational objectives, but also to
preserve and enhance individuals’ andsociety’s long-term best interests.
• Extends marketing concept to serve onemore customer - society as a whole.
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 19/22
Marketing
Management
PhilosophiesProduction Concept
Product Concept
Selling Concept
Marketing Concept
Societal Marketing Concept
• Consumers favor products that areavailable and highly affordable
•Improve production and distribution
•Consumers favor products that offer the most quality, performance, and
innovative features
•Consumers will buy products only if the company promotes/ sells these
product
•Focuses on needs/ wants of target
markets & delivering satisfactionbetter than competitors
•Focuses on needs/ wants of targetmarkets & delivering superior value
•Society’s well-being
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 20/22
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 21/22
8/14/2019 Mkting the New Challenges
http://slidepdf.com/reader/full/mkting-the-new-challenges 22/22