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Marketing & Information Science

Marketing & Information Science. By’ Dr. Sarwade W.K. Associate Professor Department of Commerce and Management Science Dr. Babasaheb Ambedkar Marathwada University Aurangabad. Basic concepts of Marketing . Marketing is the creation and delivery of a standard of living

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Marketing & Information Science

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  1. Marketing & Information Science By’ Dr. Sarwade W.K. Associate Professor Department of Commerce and Management Science Dr. BabasahebAmbedkarMarathwada University Aurangabad

  2. Basic concepts of Marketing • Marketing is the creation and delivery of a standard of living • Marketing is a total system of business activities designed to plan, price, promote, and distribute want-satisfying goods and services to the customers. • American Marketing Association-Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or ultimate user

  3. Marketing as a process • Marketing is the economic process by which goods and services are exchanged and their values determined in terms of money prices. • Marketing is the process of discovering and translating of consumer needs and wants into product and service specifications, creating demand for these products and services and then in turn expanding this demand.

  4. Product Decisions • Pricing Decisions • Distribution Decisions • Communication decisions • Service • Research Marketing Activities

  5. Functions of Marketing

  6. Functions of Marketing • Selling • Advertising • Service • Promotion • Distribution • Price • Marketing Research • Product planning & Development • Buying and assembling • Storage & warehousing • Packaging • Branding

  7. Role of Marketing

  8. Overview of MarketingWay of satisfaction of Consumer Wants

  9. Capturing the Customer

  10. Four P’s of Marketing

  11. Nature and elements of Marketing • Focus on customer • Marketing must deliver to customer • Marketing is surrounded by customer needs • Marketing is a key to business • Marketing sub-systems affect company strategy • Marketing is a part of total environment • Marketing is changing its strategy and developing a strategy • Marketing as a subject or career

  12. Significance of Marketing • Selling • Buying • Financing • Warehousing • Transport • Standardization • Risk-bearing • Market information • Marketing Research

  13. To the society in general • To the firms in particular • It enables the firms to earn more profit • It acts as a source and channel of new ideas • It acts as a basis for making decisions Benifits of marketing

  14. Marketing aims-Hepner • Developing an intelligent appreciation of modern marketing practices and the influences in marketing situation. • Developing a broader framework for thinking about marketing. • Providing guiding policies regarding marketing procedures and their implementations. • Creating an open-minded, hopeful attitude towards the efforts of those scholars in marketing who are trying to develop into a science. • Indicating the sources from which further information can be obtained concerning marketing problems or situations.

  15. Marketing aims-HepnerContinue… • Supplying the factual backgrounds and analytical judgment necessary for dealing with marketing problems. • To satisfy the needs and wants of customers. • To determine marketing mix that aims to satisfy the needs of the customers. • To create adequate profits for the growth of the enterprise. • To generate and create goodwill for the enterprise. • To raise the standard of living of the people, and society

  16. Marketing Vs Selling • It is oriented to satisfying Consumer needs and desire. • It is concerned with planning and development of products to match the market requirements. • It is concerned with planning and development of products to match the market requirement. • It represents an integrated approach to achieve long term goals. • It is concerned with converting consumer needs into products. • It is oriented to satisfying the sellers need. • The product occupies the pride of place in any selling scheme. • It is only concerned with selling the goods and services which have already been produced. • It represents a piecemeal approach to achieve short term goals. • It is concerned with converting into products into cash

  17. APPROACHES TO THE STUDY OF MARKETING • The commodity approach; • The institutional approach; • The functional approach; • The conceptual approach; • The managerial approach; • The eclectic approach; • The systems approach; • The scientific approach.

  18. Customer Provides Business & Business Seeks Customer

  19. Non-Economic or Non-Business Environmental forces • Political and legal • Socio-Political-Cultural • Technological • Educational • Demographic • Historical • Psychographic and Psychobiological etc.

  20. The Life Cycle of a Market

  21. Market Economic Conditions Marketing How Economy Influences Marketing

  22. Indian Auto sales in Feb.-2011

  23. Indian two Wheelers sale Feb-2011

  24. Indian Top Gainers (%) Feb.2011

  25. E-Marketing Domains

  26. Ratio of internet users in the global market Source:- all India research by IMRB & IMAI

  27. E-Marketing Domains

  28. Context Commerce Content Community Connection Customization Communication Designing Attractive Web Sites • The 7 Cs of Effective Web Site Design

  29. Thank You.

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