1. Vishnu Parmar, IBA University of Sindh, Jamshoro
Marketing Management
Vishnu Parmar, IBA
University of Sindh, Jamshoro

2. Marketing Management 13th Edition
Recommended Book
Marketing Management 13th Edition
By Philip Kotler

3. Defining Marketing For The 21st Century
Chapter 1

4. THE IMPORTANCE OF MARKETING
Introduction
Financial success depends on marketing ability
Finance, Operations, Accounting and other business functions may not effective if there is no sufficient demand for product and Services
Marketing Managers must decide about the Marketing Mix of every product (product, price, placement, promotion)
All Multinational and global firms pay special attention to their marketing departments

5. Definitions
Marketing is an organizational function and a set of process for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders (AMA)
MM as the Art and Science of choosing target market and getting, keeping, and growing customers through creating, delivering, and communicating, superior, customer value.

6. What is Marketed? Goods (consumer & Industrial tangible goods)
Services (teachers, doctors, lawyers etc)
Events (major trade shows, Olympics etc)
Experiences (theme restaurant, amusement parks)
Persons (Benazir Bhutto, Shah Rukh Khan etc)
Places (Taj Mahal, Eiffel Tower, Disney etc)

7. What is Marketed? Properties (DHA, Askari, or other real properties)
Organizations (IBA, LUMS, SZABIST, MUET etc)
Information (Economic Survey etc)
Ideas

8. Who Markets?
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 both will call marketer
Marketers must have skills to stimulating demand for their company’s product

9. Eight Demand States Negative Demand Nonexistent demand
Latent Demand (cannot be satisfied by existing product)
Declining Demand (Type writer, cassette recorder)
Irregular Demand (seasonal)
Full Demand
Overfull Demand
Unwholesome Demand (environmental and societal friendly products)

10. Structure of Flows Resource markets Government markets Manufacturer
Resources
Resource
markets
Money
Taxes
Taxes,
goods
Services,
money
Government
markets
Services
Manufacturer
markets
Consumer
markets
Intermediary
Goods, services
Money

11. Figure 1.2 A Simple Marketing System

12. Key Consumer Markets Consumer Markets Business Markets Global Markets
Nonprofit and Governmental Markets

13. Marketing in Practice Five major Marketing Functions for a CMO
Strengthening the Brands
Measuring Marketing Effectiveness
Driving new product development based on customer needs
Gathering Meaningful Customer Insights
Utilizing new marketing technology

14. Needs, Wants, and Demands
Core Concepts of Marketing
Target Markets & Segmentation
Needs, Wants, and Demands
Product or Offering
Value and Satisfaction
Exchange and Transactions
Relationships and Networks
Marketing Channels
Supply Chain
Competition
Marketing Environment

15. Core Marketing Concepts
Needs, Wants, and Demands
Target Markets, Positioning, and Segmentation
Offerings and Brands
Value and Satisfaction
Marketing Channels
Supply Chain
Competition
Marketing Environment

16. The New Marketing Realities
Major Societal Factors
Network Information Technology
Globalization
Deregulation
Privatization
Heightened Competition
Industry Convergence
Consumer Resistance

17. Company Orientations Towards the Marketplace
Consumers prefer products that are
widely available and inexpensive
Production Concept
Consumers favor products that
offer the most quality, performance,
or innovative features
Product Concept
Consumers will buy products only if
the company aggressively
promotes/sells these products
Selling Concept
Focuses on needs/ wants of target
markets & delivering value
better than competitors
Marketing Concept
4 broad components (i) Relationship (ii) Integrated (iii) Internal and (iv) Performance Marketing
Holistic Marketing
Concept

18. Marketing Management Tasks
Developing Marketing Strategies & Plans
Capturing Marketing Insights
Connecting with Customers
Building Strong Brands
Shaping the Market Offerings
Delivering Value
Communicating Value
Creating Long Term Growth