MARKETING MANAGEMENT

WITH XCLUSIVEOFFER

DEFINITION OF MARKET AND MARKETING

Xclusiveoffer - Market refers to the group of consumers or organization that is interested in the product, has the resources to purchase the product and is permitted by law and other regulations to acquire the product.

Marketing: According to Chartered Institute of Marketing “ The management process responsible for identifying, anticipating and satisfying customer requirements profitable.

Social definition “ Marketing role is to deliver a higher standard of living”.

Marketing Management “ Marketing management sis a business discipline which is focused on the practical application of marketing techniques and the management of a firm’s marketing resources and activities.

XCLUSIVEOFFER - IMPORTANCE OF MARKETING

Marketing managers must take major

decisions such as

1. What features to design into a new

product

2. What prices to offer customers

3. Where to sell products

4. How much to spend on advertising or

sales

SCOPE OF MARKETING WITH XCLUSIVEOFFER

To be a marketer, you need to understand

What marketing is

How it works

What is marketed

Who does the marketing

How it works

Four ways to obtain product

Exchange and Transactions

WHAT IS MARKETED

Goods

Services

Events

Experiences

Persons

Places

Properties

Organizations

Information

Ideas

WHO MARKETS

Marketers and Prospects: A marketer is someone who seeks a response ( attention, a purchase, a vote, a donation) from another party, called the prospect.

If two parties are seeking to sell something to each other, we call them both marketers.

Marketers are responsible for demand management.

Marketing managers seek to influence the level, timing, and composition of demand to meet the organization's objectives.

Eight demand states are possible

1. Negative demand: dislike the product

2. Nonexistent demand: unaware and uninterested

3. Latent demand: strong need that cannot be satisfied by an existing product.

XCLUSIVEOFFER

4. Declining demand: consumer begin to buy

the product less frequently or not at all

5. Irregular demand: Vary on a seasonal,

monthly, weekly, daily, or even hourly basis.

6. Full demand: adequately buying all

products put into the marketplace.

7.Overfull demand: More consumers would

like to buy the product

8.Unwholesome demand: Products that have

undesirable social consequences.

MARKETS

Traditionally “ market is a physical place where buyers and sellers gathered to buy and sell goods.

Economists describe a market as a collection of buyers and seller who transact over a particular product or product class.

Five basic markets:

1. Manufacturers markets

2. Resource markets

3. Intermediary markets

4. Consumer markets

5. Government markets

KEY CUSTOMER MARKETS

Consumer Markets

Business Markets

Global Markets

Nonprofit and Governmental Markets

Marketplaces, Market spaces &

Metamarkets

COMPANY ORIENTATION TOWARD THE MARKETPLACE

The Production Concept: consumers will prefer products that are widely available and inexpensive

The Product Concept: consumers will favor those products that offer the better quality, [performance or innovative features.

The selling Concept: is practiced most aggressively with unsought goods, goods that buyers normally do not think of buying.

The Marketing Concept: instead of a product-centered “ make and sell” philosophy, business shifted to a customer centered “ sense and respond” philosophy.

the job is not to find the right customers for your products, but the right products for your customers.

COMPANY ORIENTATION TOWARD THE MARKETPLACE

The Holistic Marketing Concept: is based on

the development , design, and

implementation of marketing programs,

processes, and activities that recognizes

their breadth and interdependencies.

Four components of holistic marketing are

1. Relationship marketing

2. Integrated marketing

3. Internal marketing

4. Social responsibility marketing

COMPONENTS OF HOLISTIC MARKETING

Relationship marketing: has aim of building mutually satisfying long-term relationships with key parties- customers, suppliers, distributors, and other marketing partners in order to earn and retain their business.

The ultimate outcome of relationship marketing is the building of a unique company asset called a marketing network.

Marketing Network consists of the company and its supporting stakeholders with whom it has built mutually profitable business relationships.

Integrated Marketing: is a strategy to unifying different marketing methods such as mass marketing, one-to-one marketing, and direct marketing. Its objective is to complement and reinforce the market impact of each method, and to employ the market data generated by these efforts in product development, pricing, distribution, customer service, etc.

COMPONENTS OF HOLISTIC MARKETING

Two key themes of integrated marketing

1. Many different marketing activities are employed to communicate and deliver value.

2. All marketing activities are coordinated to maximize their joint effects.

McCarthy classified marketing tools into four broad groups which he called the 4 Ps of marketing : product, price, place and promotion

These Ps represent the seller’s view of the marketing tools available for influencing buyers.

From buyer’s point of view each marketing tool is designed to deliver a customer benefit. Robert Lauterborn customers’ four Cs

XCLUSIVEOFFER

Four Ps Four Cs

Product Customer solution

Price Customer cost

Place Convenience

Promotion Communication

COMPONENTS OF HOLISTIC MARKETING

Internal Marketing: ensure that everyone is the organization hold and carry appropriate marketing principles, especially senior management

Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well.

Internal marketing must take place on two levels:

1. The various marketing functions- sales force, advertising, customer service, product mgt etc.

2. Marketing must be hold and carry by the other departments also. They must also think customer.

SOCIAL RESPONSIBILITY MARKETING

It holds that the organization’s task is to determine the needs, wants and interests of

target markets and to deliver the desired

satisfactions more effectively and efficiently

than competitor s in a way that preserves or

enhances the consumer’s and the society’s well-being.

FUNDAMENTAL MARKETING CONCEPTS

Core concepts

Needs: water, clothing, education

Wants: burger, French fries soft drink

Demands: Mercedes

We can distinguish among five types of needs

1. Stated needs: customer wants an inexpensive car

2. Real needs: customer wants a car whose operating cost , not its initial price, is low

3. Unstated needs: customer expects good service from the dealer

4. Delight needs: customer would like the dealer to include an security system in car

5. Secret needs: appreciated by friends

FUNDAMENTAL MARKETING CONCEPTS

Target Markets, Positioning and Segmentation:

Offerings and Brands: offering combination of products, services, information and experiences . A set of benefits they offer to customers to satisfy their needs. The intangible value proposition is made physical by an offering

Brand: is a offering from a known source. A brand name carries many associations in the minds of people. These associations make up the brand image.

Value and satisfaction:

XCLUSIVEOFFER