Principles of Marketing

1. Principles of Marketing Father of Marketing – Philip Kotler

2. UNIT – I • Meaning and definition of market and marketing • Importance of marketing • Marketing and selling • Modern marketing concept • Global Marketing • E-marketing • Tele marketing • Marketing Ethics • Career Opportunities in Marketing

3. What is Market? • How it is from Marketing?

4. Market

5. MARKETING

6. Market Meaning - Market refers to a place where buyer and sellers can come in contact with each other either directly or indirectly Definition – “ Market includes both place & Region in which buyer are in free competition with one another.” – Pyle

7. Marketing Meaning - The term marketing is derived from the term market. Marketing is the Process or technique of promoting, selling, and distributing a product or service. Definition - “Marketing is the creation and delivery of standard of living to society.” - The American Marketing Association

8. Selling Vs Marketing Selling Marketing

9. Difference Between Marketing and Selling

10. Importance of Marketing • Creating a Brand • Product Development • Communication • Creates Awareness • Building Relationships • Tackling The Competition • Creates Employment • Increases standard of living

11. Traditional Marketing (or) Marketing mix (or) 4 P’s & 4 C’s of Marketing

13. Modern Marketing Traditional marketing + 3 P’s Modern Marketing People Physical Evidence Process

14. Modern marketing concept In 1950s the marketing concept emerged. The marketing concept is aimed at orienting a firm completely towards its customers. Every department from production to finance to human resource should be customer focus.

15. Modern marketing concept • Customer orientation • Coordinated effort by all departments of the firm to satisfy customers • Emphasis on long term relationships • Profitable way to do business over the long term

16. Modern marketing concept - Cont ..., Production concept Product concept Selling concept Marketing concept Consumer concept Societal marketing concept

17. Modern marketing concept - Cont ..., Production concept - companies think that consumer will buy the product which comes in the market. Product concept- companies give importance to the features or the quality of the product  Selling concept - inform the consumer about the product which can be done through different ways of promotion.

18. Modern marketing concept - Cont ..., Marketing concept – The manufacturer have to produce the product which the consumer wants. Consumer concept – Companiesgive attention to individual consumer it can be done through one to one marketing. Societal marketing concept - the company should make balance between company’s profits, consumer wants and society welfare

19. Global Marketing • What is Global Marketing? • How is it different from regular marketing?

20. Global Marketing

21. Global Marketing • Global marketing is more than simply selling a product internationally. • It includes the whole process of planning, producing, placing, and promoting a company’s products in a worldwide market.  • Boundary less Marketing Examples : Coca-Cola , Kentucky Fried Chicken(KFC), Apple etc.,

22. Importance of Global Marketing • Additional revenue • New insights into customer behavior • Alternative distribution strategies • Advance notice of new products • A major key to achieving success in foreign markets

23. E-Marketing • What is E-Marketing? • How is it different from regular marketing?

24. E-Marketing • E-marketing refers to the application of marketing principles and techniques via Electronic media and more specifically the Internet. • E -Marketing is also known as Electronic –Marketing (or) Internet Marketing(or) Online marketing.

25. E-Marketing tools • Business websites • Search Engine • Email • Online newsletters, catalogues , press releases, surveys & customer service • Banner advertising • Social Media • Mobile marketing • Web Log (Blog) - Web-based journals in which people can editorialize and interact with other Internet users.

26. Characteristics of E-Marketing • Addressability - A marketer’s ability to identify customers before they make a purchase. • Interactivity - allow customers to express their needs and wants directly to the firm through marketing communications. • Memory- A sense of group membership or feeling of belonging by individual members. The ability to access databases or data warehouses containing individual customer profiles and purchase histories

27. Characteristics Of E-Marketing – Cont ., • Control -Customers’ ability to regulate the information they view and the rate and sequence of their exposure to that information. • Accessibility - The ability to obtain information available on the Internet. • Digitalization - The ability to represent a product, or at least some of its benefits, as digital bits of information.

28. Tele Marketing Telemarketing is a method of direct marketing in which a salesperson attract customer to buy products or services, either over the phone

29. The term ‘TELE - MARKETING’ was first used in late 1970s to describe bell system communication. • An effective telemarketing process often involves two or more calls. • First call determines the customer’s needs. The final call motivate customer to make a purchase

30. Benefits of using telemarketing • Provide a more interactive and personal sale service • Create an immediate rapport with your customers • Explain technical issues more clearly • Generate leads and appointments • Sell from a distance to increase your sales territory • Reach more customers than with in-person sales calls • Sell to both existing and new customers

31. Marketing ethics • Marketing ethics addresses principles and standards that define acceptable conduct in the market place. • Marketing usually occurs in the context of an organization, and unethical activities usually develop from the pressure to meet performance objectives. • Some obvious ethical issues in marketing involves clear cut attempts to deceive or take advantage of a situation

32. Marketing Ethics & Consumer Rights • The law and regulations are generally designed to protect the consumers from unethical practices by businesses • These laws and regulations recognize that consumers have certain basic rights in the market place • Each marketer must relay on his/her own value system to determine what is and is not ethical

34. ETHICAL VALUES • Honesty: to be truthful and forthright in our dealings with customers and stakeholders. • Responsibility: to accept the consequences of our marketing decisions and strategies. • Fairness: to try to balance justly the needs of the buyer with the interests of the seller. • Respect: to acknowledge the basic human dignity of all stakeholders.

35. Openness: to create transparency in our marketing operations. Citizenship: to fulfill the economic, legal and societal responsibilities that serve stakeholders in a strategic manner. CONTD…….

36. Career Opportunities in Marketing • Content Marketing Manager • Content Writer • Digital Brand Manager • Digital Marketing Manager • Director of Digital Marketing • Internet Marketing Coordinator • Internet Marketing Director • Internet Marketing Specialist • Search engine optimization Manager • Social Media Marketing Analyst  • Social Media Marketing Coordinator  • Social Media Marketing Manager