1. Marketing
Uma Kanjilal

2. Definition
“Marketing is the process of planning, and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchange that satisfy individual and organizational objectives”
– American Marketing Association

3. Elements of Marketing
Managerial process- analysis, planning, implementation and control
Carefully formulated program
Voluntary exchange of values
Customer orientation (target market, market segmentation)
Blends set of tools- 4Ps of marketing

4. Major benefits of marketing
Improved satisfaction of the target market
Improved attraction of marketing resources
Improved efficiency in marketing activities

5. Major criticisms Waste of public money Marketing activity is intrusive
Marketing is manipulative

6. ABCs of Marketing (formula for world class marketing)
Always be customer driven
Benchmark against the best in the world
Continuously improve your product and performance
Develop the best value package
Empower your employees
Focus on relationships
Generate profit and meet other organizational objectives

7. Marketing processes
Mission statement (based on organization’s goals and objectives)
Situation Analysis (SWOT analysis)
Build on core competencies (strategic alliance where internal competency is lacking
Analyze Strategic alternatives (growth-share matrix, business strength-market attractiveness matrix, industry-competition model)

8. Marketing processes… (cont)
Select and segment target market
Set marketing goals and objectives
Implement market strategies
Evaluation and control

9. Marketing Eras
Production orientation- major tasks of an organization is to pursue efficiency in production and distribution
Sales orientation- stimulate the potential customer in the organization’s existing products and services
Market orientation- determination of needs and wants of target markets and satisfy them through the design, communication, pricing and delivery of appropriate and competitively viable products and services.

10. Marketing trends
Relationship marketing- meeting consumer satisfaction with relationship
Key customer management-building mutually beneficial relationship with customer
Supply chain management- managing pipeline that links customers to suppliers
Loyalty marketing- targeting towards loyals and habituals

11. Functions of marketing
Exchange function  buying
 selling
 pricing
Physical function  assembling
 transportation and handling
 storage
 processing and packaging
 grading and standardization
Facilitating function  financing
 risk bearing

12. Typical functions of marketing department
Stimulating Demand
Servicing Demand
Sales promotion
Advertising
Pricing
Warehousing
Transportation
Order Process Handling
Source: Marketing/McDaniel&Darden
Personal selling
Public Relations
Product Planning
Other Activities
Inventory management
Marketing Research and Sales Forecasting
General Administration
Financing