Introduction to Marketing Management
MARKETING MANAGEMENT
Description also available in video format (attached
below), for better experience use your desktop.
Introduction
·
Market is a
place where sellers & buyers buys & sales from producer
·
Marketing is a
system that is designed to
o
Plan
o
Promote
o
& distribute the goods & services to
the target market
·
Marketing Management is
an art of planning & executing the
o
Conception
o
Pricing
o
Promotion
o
Distribution of ideas, goods & services
to create exchange
Needs,
Wants, Demands, Sales & Marketing
·
Needs
o
State of felt deprivation including
§ Physical (Food, Clothing, Shelter & Safety)
§ Social (Belonging & Affection)
§ Individual (Learning knowledge & Self expression)
·
Want
o
Form that a human need takes, as shaped by
culture and individual personality
·
Demand
o
= Wants + Buying
Power
·
Sales
o
Trying to get the customer to want what the
computer produces
·
Marketing
o
Trying or get the company produce what the
customer wants
Nature,
Role & Importance of Marketing
·
Nature
o
Consumer oriented process
o
Start & ends with customer
o
Guiding element of business
o
It is a system
o
A goal oriented process
o
A process of exchange
o
It is a continuous process
·
Role
o
Specialization in activities of comparative advantage
o
Enhanced resource use efficiency
o
Advances in marketing with economic growth
·
Importance
o
Essential for the survival & growth of
the organization
o
To satisfy their economic & social needs
o
Raise their standard of living
o
Effective & productive utilization of resources
o
Provides the guidance for the innovative
technology
Concepts,
Functions and 4P&Cs of Marketing
·
Concepts
o
The production concept (Consumer will favor
products that are available & highly affordable)
o
The product concept (Consumer will favor products
that offers the quality, performance & features)
o
The selling concept (Product will not be sell
without large scale selling & promotion*
o
The marketing concept (determine need &
wants of the target marketing)
o
The social marketing concept (determine
needs, wants & interests of the target market)
·
Functions
o
Selling
o
Buying
o
Transportation
o
Storage
o
Standardization
o
Grading
o
Financing
o
Risk taking
o
Market information
·
4Ps
o
Product
o
Price
o
Place
o
Promotion
·
4Cs
o
Customer value
o
Cost
o
Convenience
o
Communication
Video
Description
·
Don’t forget to do
these things if you get benefitted from this article
o
Visit our Let’s
contribute page https://keedainformation.blogspot.com/p/lets-contribute.html
o
Follow our page
o
Like & comment
on our post
·
Comments