INTRODUCTION TO MARKETING

Dr.S.Balamurgan,Ph.D

Assistant Professor,

PG and Research Department of Commerce,

C.P.A College,

Bodinayakanur.

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Marketing: An Introduction

�What is a market?�

“A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want” (Philip Kotler)

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Marketing: An Introduction

The Overall Themes of Marketing�The Traditional Marketing Mix

• Product
• Price
• Promotion
• Place

Marketing: An Introduction

ELEMENTS OF MARKETING

• Customer value: Difference between the values that the customer gains from owning and using a product versus the costs of obtaining the product.

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• Customer satisfaction: The extent to which a product’s perceived performance in delivering value matches a buyer’s expectations.

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• Quality: the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.

Marketing: An Introduction

Marketing philosophy

1. Production: consumers will favor products that are available and highly affordable
2. Product: consumers favor products that offer the most in quality, performance, and innovative features
3. Selling: consumers will not buy unless an organization undertakes a large-scale selling and promotional effort
4. Marketing: determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently then the competitors
5. Societal marketing: generating customer satisfaction and long-run societal well-being are the keys to both achieving the company’s goals and fulfilling its responsibilities

Marketing: An Introduction

Marketing Management

• What is marketing management?

« Marketing management is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals » (Philip Kotler)

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Marketing: An Introduction

Market segmentation

• The process of dividing a market into distinct subsets (segments) of consumers with common needs or characteristics and selecting one or more to target with a distinct marketing mix

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Marketing: An Introduction

Exercise

• How can we identify and choose profitable market segments?
• How can differentiate our offer from our competition?
• How should we react to competitors?
• How can we satisfy our customers and build brand loyalty?
• How can we measure the effectiveness of an add campaign, of Public Relations, of a promotion, …?

Marketing: An Introduction

Advertisement

Marketing: An Introduction

OBJECTIVES

Marketing: An Introduction

Advertising strategies

Marketing: An Introduction

compaign

Marketing: An Introduction

Example

Marketing: An Introduction

Functions

• Functions of advertisng

Marketing: An Introduction

classification

Marketing: An Introduction

Marketing: An Introduction

Marketing: An Introduction

BRAND

UNDERSTANDING BRANDING

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BRAND

A name, term, design, symbol, or combination of these elements that identifies a product and distinguishes it from its competitors

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Marketing: An Introduction

BRAND ELEMENT

BRAND NAME

(or product brand) a word, group of words, letters, or numbers that represents a product that can be spoken

• Should be easily pronounced, distinctive, and recognizable

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Marketing: An Introduction

BRAND ELEMENT

• TRADE MARK
• A brand name, brand mark, trade name, trade character, or a combination of these that is given legal protection by the federal government

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Marketing: An Introduction

THE IMPORTANCE OF BRANDING

1. To build product recognition and customer loyalty

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• To ensure quality and consistency

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• To capitalize on brand exposure

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Marketing: An Introduction

Packaging and Labeling

Packaging The package = physical container or wrapping for a product

It is an integral part of product planning and promotion

• 10% of the retail price is spent on developing, designing, and producing just the package

Companies sometimes change packaging to update their image and reach a new market

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Marketing: An Introduction

Functions of Packaging

. Providing Information

. Promoting and Selling the Product

Defining Product Identity

Expressing Customer Needs

Ensure Safe Use

Protecting the Product

Marketing: An Introduction

Packaging TRENDS

Aseptic Packaging –technology that keeps foods fresh without refrigeration for extended periods

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Usually used to package food products

• canning
• bottling

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Marketing: An Introduction

Labeling

LABEL - an identification tag, wrapper, seal, or imprinted message that is attached to a product or its package

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• Main function is to inform customers about a product’s contents and give directions for use
• Protects businesses from legal liability if someone if injured while using the product

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Marketing: An Introduction

Three Kinds of Labels

• Brand Label – gives brand name and trademark or logo
• Descriptive Label – give information about product use, construction, care, performance, and other features
• Grade Label – states the quality of a product

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Marketing: An Introduction

Group activity

• Explain various strategies adopted to sell the product in the market

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• Explain various media used to advertisement the product in the form of role play

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Marketing: An Introduction

• THANK YOU

Marketing: An Introduction