Marketing Management as the art and science of

choosing target markets and getting, keeping

and growing customers through creating,
delivering and communicating superior
customer value.

what is science and an art ?

Science
A science is systematized body of
knowledge pertaining to any phenomenon
which it tries to explain by establishing a
relation between cause and effect .
Art
when the facts of a certain nature studies
in a science are followed in real life is called
art.
The scope of marketing is the area or boundary
of the study of marketing.
In scope of marketing we answer and analyse
the following questions.
1. What is marketing?
2. What is marketed?
3. Who markets?
What is scope of Marketing?

 The scope of marketing is the area or

boundary of the study of marketing.
 In scope of marketing we answer and analyse

the following questions.

 Marketing is about to identifying and meeting
human and social needs.

 One of the shortest definition of marketing is

“ meeting needs profitably”
 Marketing people market 10 types entities
 Goods , services, events, experiences,

persons, places, properties, organization,

information and ideas.
 Lets take a quick look at these categories.
1. Goods
 Physical goods constitute the bulk of most

production .
 Each year India market car, truck , television,

machine etc.
2. Services
 As economies advance , a growing proportion

of their activities focuses on the production of

services.
Services includes:
1. Airlines services
2. Hotel
3. Car rental services
4. Banking services
5. Barber
6. Lawyer
7. Doctor, etc.
3. Events:
Marketers promote time based event such as
major trade, artistic performance, sport events
such as world cup, Olympics are promoted
aggressively to both companies and fans.
4. Experiences
By orchestrating (combination) several services
and goods, a firm can create , stage and
market experiences.
An amusement (fun) park or water park
represents experimental marketing.
5. Persons
 Celebrity marketing is a major business,

artists, musicians, physician, high profile

lawyers, bankers and other professionals all
get help from celebrity marketers.
 Celebrities such David Beckham, Amitabh , Shah Rukh

khan, Aishwarya rai are big brands themselves.

6. Place
 Cities, States, Regions and whole nation

compete actively to attract tourists, factories,

company headquarters.
 In software industries Bangalore is positioned

as the silicon valley.

 In the tourism industry Kerala is marketed as

Gods own country and has become one of the

hot spots for tourism.
7. Properties
 Properties are intangible rights of ownership

of either real property ( real state) or financial

property ( stock and bond)
 Property are bought and sold and these

exchanges require marketing.

8. Organizations:
 Organizations actively work to build a strong,

favorable and unique image in the mind of

their target market.
8. Information
 Information is essentially what books,

schools, colleges, universities market and

distribute at price to parents, students,
business and public.
 Companies that sell physical products

attempt to add value through the use of

information.
9. Organizations:
 Organizations actively work to build a strong,

favorable and unique image in the mind of

their target market.
10. Ideas
 Every market offering includes basic idea.
 Products and services are platform for

delivering some idea and benefit.

 Social marketers are busy promoting such

idea by creating awareness about AIDS,

encouraging family planning and discourage
smoking.
Marketers and Prospects
A marketer is someone who seeks a response
( attention, a purchase, votes, a donation)
from other party called prospect.
If two parties are seeking to sell something to
each other, we call them both marketers.
 Marketers are indeed skilled at stimulating
demand for their company’s products.
 Marketers are responsible for demand

management.
 Marketing manager seek to influence the

level, timing, and composition of demand to

meet the organizational objectives.
 Different types of demand

1. Negative demand: consumer dislike the

product.
2. Nonexistent demand: consumers may be
unaware of or uninterested in the product.
3. Latent demand: consumers may share a strong
need that cannot be satisfied by an existing
product.
4. Declining demand: consumer begin to buy less
frequently .
5. Irregular demand: consumer purchases vary on
a seasonal , monthly, weekly etc.
6. Full demand: consumer are adequately buying
all products put into the marketplace.
7. Overfull demand: more consumers would like to
buy the product than can be satisfied.

In each case , marketer must identify the underline

cause of demand state and then determine a plan
of actions to shift the demand to a more desire
state.
Key Customer Markets
 Companies selling mass consumer goods and
services such as soft drinks, cosmetics, air
travel , shoes and equipment spend a great
deal of time trying to establish a superior
brand image.
 Much of a brand strength depends on

developing a superior product and

packaging, ensuring its availability, backing it
with engaging communications and reliable
services.
Companies selling goods and services often
faces well trained and well informed
professional buyers .
Who are skilled at evaluating competitive
offerings.
Business buyers buy goods and services in
order to make or reseller a product to other
at a profit.
Advertising can play a role, but the sale forces,
and the company reputation and quality may
play a strong one.
 Companies goods and services in the global
marketplace face additional decisions and
challenges.
 They must decide which countries to enter.
 How to enter ( as exporter, licensing, joint
venture, or solo manufacturer)
 How to price their product in different
countries.
 Different culture, languages and legal and
political systems and currencies that might
fluctuate in value.
 Companies selling their goods to nonprofit
organizations such as churches, colleges,
universities, charitable organizations and
governmental agencies needs to price
carefully , because these buyers have limited
purchasing power.
Market place
The market place is physical, such as store you
in ,

Market space
Market space is digital, as when you shop on
the internet.
Meta market
 Meta market to describes a cluster of
complementary products and services that are
closely related in the minds of consumer.
 But spread across a diverse set of industries .
 The automobile meta market consists of
automobile manufacturers, new cars, used cars,
financing companies, spare part dealers, auto
magazine and auto sites on the internet.
 For example marutisuzkiindia through their web
site “marutitruevalue.com” help buyers and
sellers of second hand information that facilitates
informed, transactions for both buyers and
sellers.
In purchasing a car, a buyer will get involved in
many parts of this market and this creates an
opportunity for intermediaries.
Today the marketplace is completely different
as a result of major and sometime
interlinking societal forces that have created
new behaviors, new opportunities and new
challenges.
1.Network of Information technology :
 The digital revolution has created an
information age.
 The industrial age was characterized by mass
production, mass consumption, store stuff
with inventory, ads everywhere and huge
discount .
 The information technology age promises to
lead to more accurate level of production,
more targeted communication and more
relevant price.
2. Globalization
 technological advance in transportation,
shipping and communication have made it easier
for companies to market in other countries and
easier for the consumer to buy product and
services from marketers in other countries.
3. Deregulation: many countries have deregulated
industries to create great competition and growth
opportunities.
 In India ,the domestic airlines industries has been
growing very rapidly after deregulation.
 Air lines companies are competing with each
other by offering different and better services to
customers.

Privatization:
 Many countries have converted public

industries or companies to private ownership

and management to increase their efficiency .
Heightened competition:
 Brand competition are facing intense

competition from domestic and foreign

brands, resulting in rising promotion costs
and decreasing profit margin.
 Many strong brands are extending into

related product categories, creating

megabrands with presence and reputation.
Industry Convergence :
 industries boundaries are expanding at an

incredible rate as companies are recognizing

new business opportunities lie at the
intersection of two or more industries.
 Example
 the computing and consumer electronics are

converging as giants of computer world

Sony, Dell, Gateway release a stream of
entertainment devices from MP3, Play station,
Plasma TV. Etc.
 The production concept
The production concept is one of the oldest
concept in business.
It hold that consumers will prefer products that
are widely available and inexpensive .
Managers of production-oriented business
concentrated on achieving high production
efficiency, low costs and mass production.
This orientation makes in developing countries
such as china where the largest PC
manufacturer, Lenovo and domestic
appliance giant Haier take advantage of the
country huge and inexpensive labuore to
dominate the market.
The product Concept
Selling concept
Marketing Concept
 The Holistic Marketing Concept
The holistic marketing concept is base the
development, design and implementation of
marketing program, process and activities
that recognizes their breadth and
interdependencies.
According to Holistic marketing “everything
matters” in marketing.
That’s why we need a broad and integrated
approach.
The components of Holistic Marketing.

1. Relationship Marketing

2. Integrated marketing

3. Performance marketing

4. Internal Marketing
 Internal Integrated
Marketing Marketing

Holistic
Marketing

Performance Relationship
Marketing Marketing
 1. Relationship Marketing
 A key goal of marketing is to develop,
deep, enduring (durable) relationship that
could directly or indirectly affect the
success of the firm’s marketing activities.

 Relationship Marketing aims to build

mutually satisfying long term relationships
with key constituents in order to earn and
retain business.
The four key constituents for relationship
marketing are
Customers
Employees
Marketing partners( channels, suppliers,
distributors) etc.
Financial community( investors, shareholders,
banks etc.)
Marketers must respect the need to create
prosperity among all these constituents and
develop policies and strategies to balance the
returns to all the key stakeholders.
The ultimate outcome of relationship marketing
is a unique company asset called a marketing
network.
A marketing network consist of the company
and its supporting stakeholders ---
Customers, employees, suppliers, retailers, ad
agencies etc.
 Integrated Marketing
 The marketer’s task is to plan marketing

activities and assemble fully integrated

marketing programs to creates , communicate
and deliver value for consumers.
 Marketing activities come in all forms. Such as

Four P’s
 Product
 Price
 Promotion
 place
 Marketing
Mix

Product
Product variety Place
Quality Channel
Design Coverage
Features Location
Packing Price Promotion Inventory
Size List price Sales Promotion Transport
Discount Advertising
Services Sales force
Payment period
warranties Credit terms Public relation
Direct marketing
Particular marketing variable under each p are
shown in table.
Marketer make marketing mix decision for
influencing their trade channel as well as final
customers.
 Internal marketing
 Internal marketing is the task of hiring ,

training, and motivating able employees who

want to serve customers well.
 Smart marketer recognize that marketing

activities within the company can be as

important or even more important than
marketing activities directed outside the
company .
 It makes no sense to promise excellent

services before the company’s staff is ready

to provide it.
 Internal marketing must take place on two
levels
 At one level, the various marketing functions–
sales force, advertising, customer services.
Product management, marketing research
must work together.
 Too often , the sales force thinks product
manager set price or sales quotas “too high”
or the advertising manager and brand
manager cannot agree on an advertising
campaign.
 All these marketing functions must be
coordinated from the customers point of
view.
At the second level, other department must
coordinate with marketing department. And
they must think customer.
 Performance Marketing
 Holistic marketing incorporate marketing and

understanding returns to the business from

marketing activities and programs.
 The top management is going beyond sales

and revenue to examine the market scorecard

and interpret what is happening to market
share, customer loss rate, customer
satisfaction, product quality other measures.