Unit 02: CBM 102 MARKETING PRINCIPLES (MP)
“Organizations need revenue” Marketing & Sales Team
UNIT 02: CBM 102 - MARKETING PRINCIPLES (MP) LEARNING OUTCOMES Understand the concepts and scope of marketing 2.1 2.2 Understand the elements of the marketing mix 2.3 Explain the concept of Segmentation, Targeting and Positioning 2.4 Describe the types of marketing research and stages of consumer behaviour
LESSON ONE Understand the concepts and scope of marketing
What is Marketing? DEFINITION Identifying Marketing is the management process responsible for identifying , anticipating Customer and satisfying customers’ requirements needs profitably Satisfying Anticipating (Chartered Institute of Marketing)
Market A collection of customers having need to purchase, money to purchase and willingness to purchase Need to Having Willingness purchase Money to purchase
Demand & Supply Buyer Demand Transaction Seller Supply
The Evolvement of Demand and Supply Production Concept Demand During this period businessmen were more focusing on production and distribution The idea that consumers will favor products that are available and highly affordable and that the organisation should therefore focus on improving Supply production and distribution efficiency
The Evolvement of Demand and Supply Production Product Concept Concept Demand Differentiation Supply The idea that consumers will favor products that offer the highest quality, performance and features and that the organization should therefore devote its energy to making continuous product improvements
MARKETING MYOPIA IS A MISTAKE! Marketing myopia is a term coined by Theodore Levitt. A business suffers from marketing myopia when a company views marketing strictly from the standpoint of selling a specific product rather than from the standpoint of fulfilling customer needs.
The Evolvement of Demand and Supply Production Product Sales Concept Concept Concept Demand The idea that consumers will not buy enough of the organizations products Supply unless it takes large-scale selling and promotion effort
The Evolvement of Demand and Supply Production Product Sales Marketing Concept Concept Concept Concept Demand More concern about identifying customer needs and cater them accordingly Supply Competition
THE MARKETING CONCEPT The marketing concept is a management philosophy that ‘achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do’ . (Philip Kotler – 12 th edition) Marketing concept Customer orientation Integrated effort Goal achievement
The Evolution of Concepts Production Product Sales Marketing concept Concept concept concept • Societal marketing concept
The Societal Marketing Concept Organization task is to determine the needs wants and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumers and society’s well -being Two other responsibilities were highlighted in the above concept: 1. Company should follow ethics 2. Companies should look after the society and nature (Corporate Social Responsibility - CSR)
Brandix “Care water – care for woman” Water supplying systems – particularly in rural areas where there are less assess to clean drinking water Started with 500 such projects across the country
THANK YOU
Recommend
More recommend
