notes on marketing management
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diaspransh
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Hi Zeena,
Me too looking for some study notes on Marketing management....
will keep you updated on it ...
regards
Deepti
Me too looking for some study notes on Marketing management....
will keep you updated on it ...
regards
Deepti
defiantprincess
F Khan
thanks! so much for the notes, hope they help me in exams!
abhishreshthaa
Abhijeet S
hey zeena, please search for it in the search option of the site you can get many notes on marketing management over there........
http://www.managementparadise.com/f...t-rm-im/42028-marketing-management-notes.html
http://www.managementparadise.com/f...t-rm-im/89316-notes-marketing-management.html
Marketing Management - MBA Online
12rashoo15
Rush D
Good notes very useful
12rashoo15
Rush D
very good useful happening intelligent notes
a.chandras
Amit Chandras
thank you 
what is marketing?
What is marketing?
There are many different definitions of marketing. Consider some of the following alternative definitions:
%u201CThe all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time%u201D
%u201CThe achievement of corporate goals through meeting and exceeding customer needs better than the competition%u201D
%u201CThe management process that identifies, anticipates and supplies customer requirements efficiently and profitably%u201D
%u201CMarketing may be defined as a set of human activities directed at facilitating and consummating exchanges%u201D
Which definition is right? In short, they all are. They all try to embody the essence of marketing:
%u2022 Marketing is about meeting the needs and wants of customers;
%u2022 Marketing is a business-wide function %u2013 it is not something that operates alone from other business activities;
%u2022 Marketing is about understanding customers and finding ways to provide products or services which customers demand
To help put things into context, you may find it helpful to often refer to the following diagram which summarises the key elements of marketing and their relationships:
What is marketing?
There are many different definitions of marketing. Consider some of the following alternative definitions:
%u201CThe all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time%u201D
%u201CThe achievement of corporate goals through meeting and exceeding customer needs better than the competition%u201D
%u201CThe management process that identifies, anticipates and supplies customer requirements efficiently and profitably%u201D
%u201CMarketing may be defined as a set of human activities directed at facilitating and consummating exchanges%u201D
Which definition is right? In short, they all are. They all try to embody the essence of marketing:
%u2022 Marketing is about meeting the needs and wants of customers;
%u2022 Marketing is a business-wide function %u2013 it is not something that operates alone from other business activities;
%u2022 Marketing is about understanding customers and finding ways to provide products or services which customers demand
To help put things into context, you may find it helpful to often refer to the following diagram which summarises the key elements of marketing and their relationships:
customers or consumers?
A common question that arises when studying marketing is the following:
What is the difference between a customer and a consumer?
The following distinction should help:
• A customer – purchases and pays for a product or service
• A consumer – is the ultimate user of the product or service; the consumer may not have paid for the product or service
Consider the following example:
• A food manufacturing business makes own-label, Italian ready meals for the major supermarkets.
• So far as the business is concerned, the customer is the supermarket to whom it supplies meals
• The consumer is the individual who eats the meal
In terms of its marketing effort, who should the business above target?
In reality – it needs to understand the needs and wants of both the customer and the consumer.
It needs to develop a strong understanding of the needs of the supermarkets in terms of their requirements for ready meals (e.g. packaging, recipes, price & delivery).
It also needs to understand (perhaps with the help of the supermarkets) the needs and wants of the consumer. How are tastes changing? Are consumers happy with the standard / taste of the product?
A common question that arises when studying marketing is the following:
What is the difference between a customer and a consumer?
The following distinction should help:
• A customer – purchases and pays for a product or service
• A consumer – is the ultimate user of the product or service; the consumer may not have paid for the product or service
Consider the following example:
• A food manufacturing business makes own-label, Italian ready meals for the major supermarkets.
• So far as the business is concerned, the customer is the supermarket to whom it supplies meals
• The consumer is the individual who eats the meal
In terms of its marketing effort, who should the business above target?
In reality – it needs to understand the needs and wants of both the customer and the consumer.
It needs to develop a strong understanding of the needs of the supermarkets in terms of their requirements for ready meals (e.g. packaging, recipes, price & delivery).
It also needs to understand (perhaps with the help of the supermarkets) the needs and wants of the consumer. How are tastes changing? Are consumers happy with the standard / taste of the product?
What is marketing?
There are many different definitions of marketing. Consider some of the following alternative definitions:
%u201CThe all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time%u201D
%u201CThe achievement of corporate goals through meeting and exceeding customer needs better than the competition%u201D
%u201CThe management process that identifies, anticipates and supplies customer requirements efficiently and profitably%u201D
%u201CMarketing may be defined as a set of human activities directed at facilitating and consummating exchanges%u201D
Which definition is right? In short, they all are. They all try to embody the essence of marketing:
%u2022 Marketing is about meeting the needs and wants of customers;
%u2022 Marketing is a business-wide function %u2013 it is not something that operates alone from other business activities;
%u2022 Marketing is about understanding customers and finding ways to provide products or services which customers demand
There are many different definitions of marketing. Consider some of the following alternative definitions:
%u201CThe all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time%u201D
%u201CThe achievement of corporate goals through meeting and exceeding customer needs better than the competition%u201D
%u201CThe management process that identifies, anticipates and supplies customer requirements efficiently and profitably%u201D
%u201CMarketing may be defined as a set of human activities directed at facilitating and consummating exchanges%u201D
Which definition is right? In short, they all are. They all try to embody the essence of marketing:
%u2022 Marketing is about meeting the needs and wants of customers;
%u2022 Marketing is a business-wide function %u2013 it is not something that operates alone from other business activities;
%u2022 Marketing is about understanding customers and finding ways to provide products or services which customers demand
What is marketing?
There are many different definitions of marketing. Consider some of the following alternative definitions:
“The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time”
“The achievement of corporate goals through meeting and exceeding customer needs better than the competition”
“The management process that identifies, anticipates and supplies customer requirements efficiently and profitably”
“Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges”
Which definition is right? In short, they all are. They all try to embody the essence of marketing:
• Marketing is about meeting the needs and wants of customers;
• Marketing is a business-wide function – it is not something that operates alone from other business activities;
• Marketing is about understanding customers and finding ways to provide products or services which customers demand
There are many different definitions of marketing. Consider some of the following alternative definitions:
“The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time”
“The achievement of corporate goals through meeting and exceeding customer needs better than the competition”
“The management process that identifies, anticipates and supplies customer requirements efficiently and profitably”
“Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges”
Which definition is right? In short, they all are. They all try to embody the essence of marketing:
• Marketing is about meeting the needs and wants of customers;
• Marketing is a business-wide function – it is not something that operates alone from other business activities;
• Marketing is about understanding customers and finding ways to provide products or services which customers demand
marketing concept and orientation
It is a fundamental idea of marketing that organisations survive and prosper through meeting the needs and wants of customers. This important perspective is commonly known as the marketing concept.
The marketing concept is about matching a company's capabilities with customer wants. This matching process takes place in what is called the marketing environment.
Businesses do not undertake marketing activities alone. They face threats from competitors, and changes in the political, economic, social and technological environment. All these factors have to be taken into account as a business tries to match its capabilities with the needs and wants of its target customers.
An organisation that adopts the marketing concept accepts the needs of potential customers as the basis for its operations. Success is dependent on satisfying customer needs.
What are customer needs and wants?
A need is a basic requirement that an individual wishes to satisfy.
People have basic needs for food, shelter, affection, esteem and self-development. Many of these needs are created from human biology and the nature of social relationships. Customer needs are, therefore, very broad.
Whilst customer needs are broad, customer wants are usually quite narrow.
A want is a desire for a specific product or service to satisfy the underlying need.
Consider this example:
Consumers need to eat when they are hungry.
What they want to eat and in what kind of environment will vary enormously. For some, eating at McDonalds satisfies the need to meet hunger. For others a microwaved ready-meal meets the need. Some consumers are never satisfied unless their food comes served with a bottle of fine Chardonnay.
Consumer wants are shaped by social and cultural forces, the media and marketing activities of businesses.
This leads onto another important concept - that of customer demand:
Consumer demand is a want for a specific product supported by an ability and willingness to pay for it.
For example, many consumers around the globe want a Mercedes. But relatively few are able and willing to buy one.
Businesses therefore have not only to make products that consumers want, but they also have to make them affordable to a sufficient number to create profitable demand.
Businesses do not create customer needs or the social status in which customer needs are influenced. It is not McDonalds that makes people hungry. However, businesses do try to influence demand by designing products and services that are
%u2022 Attractive
%u2022 Work well
%u2022 Are affordable
%u2022 Are available
Businesses also try to communicate the relevant features of their products through advertising and other marketing promotion.
Which leads us finally to an important summary point.
A marketing orientated business is one that which has adopted the marketing concept
It is a fundamental idea of marketing that organisations survive and prosper through meeting the needs and wants of customers. This important perspective is commonly known as the marketing concept.
The marketing concept is about matching a company's capabilities with customer wants. This matching process takes place in what is called the marketing environment.
Businesses do not undertake marketing activities alone. They face threats from competitors, and changes in the political, economic, social and technological environment. All these factors have to be taken into account as a business tries to match its capabilities with the needs and wants of its target customers.
An organisation that adopts the marketing concept accepts the needs of potential customers as the basis for its operations. Success is dependent on satisfying customer needs.
What are customer needs and wants?
A need is a basic requirement that an individual wishes to satisfy.
People have basic needs for food, shelter, affection, esteem and self-development. Many of these needs are created from human biology and the nature of social relationships. Customer needs are, therefore, very broad.
Whilst customer needs are broad, customer wants are usually quite narrow.
A want is a desire for a specific product or service to satisfy the underlying need.
Consider this example:
Consumers need to eat when they are hungry.
What they want to eat and in what kind of environment will vary enormously. For some, eating at McDonalds satisfies the need to meet hunger. For others a microwaved ready-meal meets the need. Some consumers are never satisfied unless their food comes served with a bottle of fine Chardonnay.
Consumer wants are shaped by social and cultural forces, the media and marketing activities of businesses.
This leads onto another important concept - that of customer demand:
Consumer demand is a want for a specific product supported by an ability and willingness to pay for it.
For example, many consumers around the globe want a Mercedes. But relatively few are able and willing to buy one.
Businesses therefore have not only to make products that consumers want, but they also have to make them affordable to a sufficient number to create profitable demand.
Businesses do not create customer needs or the social status in which customer needs are influenced. It is not McDonalds that makes people hungry. However, businesses do try to influence demand by designing products and services that are
%u2022 Attractive
%u2022 Work well
%u2022 Are affordable
%u2022 Are available
Businesses also try to communicate the relevant features of their products through advertising and other marketing promotion.
Which leads us finally to an important summary point.
A marketing orientated business is one that which has adopted the marketing concept
tructural characteristics of a marketing-orientated business
A business that has a marketing orientation sees the needs of customers and consumers as vital. As it develops and markets products to meet those demands, certain structural characteristics become apparent in the business.
These are summarised in the table below:
Business Function Activities
Identifying customer/consumer needs and wants
Marketing research
Developing products to meet customer/consumer needs and wants
Research and development
Production
Deciding on the value of the product to customers
Pricing (sales and marketing department)
Making the product available to customers at the right time and place
Distribution
Informing customers/consumers of the existence of the product and persuading them to buy it
Promotion
You should expect to see all the above activities well-established in a business that is marketing-orientated.
A business that has a marketing orientation sees the needs of customers and consumers as vital. As it develops and markets products to meet those demands, certain structural characteristics become apparent in the business.
These are summarised in the table below:
Business Function Activities
Identifying customer/consumer needs and wants
Marketing research
Developing products to meet customer/consumer needs and wants
Research and development
Production
Deciding on the value of the product to customers
Pricing (sales and marketing department)
Making the product available to customers at the right time and place
Distribution
Informing customers/consumers of the existence of the product and persuading them to buy it
Promotion
You should expect to see all the above activities well-established in a business that is marketing-orientated.
arvindravikumar
Arvind Ravi Kumar
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