1.Marketing is the activity, set of institutions and process of creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. - the American Market AssociationOne of the shortest good definitions of marketing is meeting needs profitably

2. Marketing plays a key role in addressing 21st century challenges. Financial success depends on marketing ability. Successful marketing builds demand for products and services. 3. GoodsServicesEvents 4. ExperiencePersonsPlaces 5. Organization InformationIdeas 6. MARKETERS AND PROSPECTS A marketer is someone who seeks a response it could be an attention, a purchase or a donation from another party called prospect. Marketers are skilled at stimulating demand for their product. 7. EIGHT DEMAND STATES(1) NEGATIVE DEMAND- Consumer dislike the product and may even pay to avoid it. (2) NON EXISTING DEMAND (NO DEMAND)Consumer may be uninterested in the product. (3) LATENT DEMAND- Many consumer may share a strong need that cannot be satisfied by any existing product. 8. (4) DECLINING DEMAND- Consumers begin to buy the product less frequently or not at all. (5) IRREGULAR DEMAND Consumer purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis. (6) FULL DEMAND Consumers are adequately buying all products put into the marketplace. 9. (7) OVERFULL DEMAND- More consumers would like to buy the product than can be satisfied.(8) UNWHOLESOME DEMAND Consumers may be attracted to products that have undesirable so-cial consequences. 10. NEEDS, WANTS, AND DEMANDS Needs - state of felt deprivation including physical, social, and individual needs. 11. WANTS Needs become wants when they are directed to specific objects that might satisfy the need. 12. WantsBuying PowerDEMAND 13. CUSTOMER NEEDS Stated needs Real needs Unstated needs Delight needs Secret needs 14. Target market :-Every customer has different choices as their needs and identifying market segments the marketer decides which present greatest opportunities which are their target markets. Positioning:Positioning is the process by which marketers try to create an image or identity in the minds of their target market for its product, service, idea, brand, or organization.Segmentation:- When the marketers start dividing the market in to segments as per customers choices is known as Segmentation. 15. Means new terms & conditions that a marketer has to follow. Dynamic Globalization Privatization Internet 16. Rise in purchasing capacity Consumer is becoming choosy 24*7 availability lenskart.com 17. Effective marketing New technology can be used Market research can be done effectively 18. Focus on stronger brands & lose the weaker ones Deep market research is vital Discount factor is the key one 19. Marketing practice ?????? 20. Mckinsey - help clients power growth through digital advantage by focusing on three critical enablers: 21. Winning the consumer decision journey Organizing for digital leadership Mastering multichannel to achieve sales excellenceSourcehttp://www.mckinsey.com/Client_Service/Marketing_and_ Sales/About_this_practice 22. THE PRODUCTION CONCEPT 23. THE PRODUCT CONCEPT 24. THE SELLING CONCEPT 25. THE MARKETING CONCEPT 26. ETHICSMARKETING DEPARTMENTENVIROMENT BRAND & CUSTOMER EQUITY LEGALSENIOR MANAGEMENT OTHER DEPARTMENTSALES REVENUEPERFORMAN CEMARKETI NGINTERNAL MARKETING HOLISTIC MARKETINGRELATIONSH IP MARKETING CUSTOMERS CHANNEL PARTNERSINTEGRATE D MARKETING COMMUNICATION PRODUCT & SERVICES CHANNELS 27. Product Example Decision Product designWill the design be the selling point for the organization as we have seen with the iPad, the new VW Beetle or the Dyson Ball vacuum cleaner.Product qualityQuality has to consistent with other elements of the marketing mix. A premium based pricing strategy has to reflect the quality a product offersProduct featuresWhat features will you add that may increase the benefit offered to your target market? Will the organisation use a discriminatory pricing policy for offering these additional benefits?Product brandin gOne of the most important decisions a marketing manager can make is about branding. The value of brands in todays environment is phenomenal. Brands have the power of instant sales, they convey a message of confidence, quality and reliability to their target market. 28. Pricing is one of the most important elements of the marketing mix, as it is the only mix, which generates a turnover for the organization. The remaining 3ps are the variable cost for the organization. It costs to produce and design a product, it costs to distribute a product and costs to promote it. Price must support these elements of the mix. Pricing is difficult and must reflect supply and demand relationship. Pricing a product too high or too low could mean a loss of sales for the organization. Pricing should take into account the following factors: Fixed and variable costs. Competition Company objectives Proposed positioning strategies. Target group and willingness to pay. 29. Types of promotion Advertising:Public relationsSales promotion: Personal selling:Direct MailInternet MarketingSponsorshipExplanation Any non personal paid form of communication using any form of mass media. Involves developing positive relationships with the organization media public. The art of good public relations is not only to obtain favorable publicity within the media, but it is also involves being able to handle successfully negative attention. Commonly used to obtain an increase in sales short term. Could involve using money off coupons or special offers. Selling a product service one to one Is the sending of publicity material to a named person within an organization Direct mail allows an organization to use their resources more effectively by allowing them to send publicity material to a named person within their target segment. By personalizing advertising, response rates increase thus increasing the chance of improving sales. Listed below are links to organization who's business involves direct mail. Promoting and selling your services online using various forms of online marketing techniques such as banner advertisements, videos or social media. Where you pay an organization to use your brand or logo. This organization usually has a high profile so that you know that your brand will be seen by a large audience. Most common use of sponsorship is with sporting events. The 2012 Olympics being held in London is being sponsored by a number of organizations such as MC donalds and Coca-Cola as the event will attract a world wide audience that will run into hundreds of millions. 30. Place is in regards to distribution, location and methods of getting the product to the customer. This includes the location of your business, shop front, distributors, logistics and the potential use of the internet to sell products directly to consumers. 31. DEVELOPING MARKETING STRATIGIES AND PLANS ASSESSING MARKET OPPORTUNITIES AND CUSTOMER VALUE CHOOSING VALUE DESIGNING VALUE DELIVERING VALUE COMMUNICATION VALUE SUSTAINING GROWTH AND VALUE