Marketing management

• Unit 1
Introduction to marketing ,difference between marketing and
selling , marketing strategies, marketing mix , marketing process ,
marketing environment .
• Lecture by:
• Ms. Ankita yadav
• ( Assistant Professor )
 Marketing
Marketing is a broad field focused on identifying, anticipating,
and satisfying customer needs and wants effectively and
profitably. It encompasses a wide range of activities and
strategies used to promote and sell products or services.
 Key Aspects of Marketing
1. Market Research: Understanding the needs, preferences, and behaviors
of consumers through surveys, focus groups, and data analysis.
2. Product Development: Creating products or services that meet the
identified needs and preferences of the target market.
3. Pricing Strategy: Setting prices that reflect the value of the product while
considering factors like production costs, competition, and consumer
demand.
4. Promotion: Communicating the value of the product through advertising,
public relations, social media, and other channels.
5. Distribution: Deciding how and where the product will be sold,
whether through physical stores, online platforms, or other channels.
6. Sales Strategy: Developing methods to encourage customers to
purchase, which may involve direct sales efforts or retail partnerships.
7. Customer Relationship Management: Building and maintaining
positive relationships with customers to foster loyalty and repeat
business.
 Difference Between Marketing and Selling
• Marketing and selling are closely related but distinct concepts. Here’s how
they differ:
1. On the basis of focus
Marketing: Focuses on understanding and meeting the needs of customers. It involves
researching market trends, consumer behavior, and creating strategies to attract and retain
customers.
Selling: Focuses specifically on persuading customers to purchase a product or service. It
is more about the direct process of closing sales and dealing with customer objections.
2. On the basis of scope
•Marketing: Has a broader scope and includes various activities
such as market research,product development, pricing,
promotion, and distribution. It is about creating a strategy to
reach and engage the target audience.
•Selling: Is a narrower scope that involves personal interaction
• with potential customers to convince them to make a purchase.
• It is often considered a subset of the broader marketing
process.
• 3. On the basis of Approach :
• Marketing: Uses a strategic approach that considers the long-term
relationship with customers. It aims to create value and build a brand
presence in the market.
• Selling: Uses a tactical approach focused on immediate transactions and
meeting short-term sales goals.
• [Link] the basis of Goal
• Marketing: Aims to create awareness, generate interest, and build a
brand that attracts customers over time. It seeks to understand and
cater to customer needs.
• Selling: Aims to close sales and achieve immediate revenue. It is often
more focused on convincing the customer to make a purchase
decision.
• Summary
• Marketing is the broader process that involves understanding customer
needs, developing products, setting prices, promoting, and distributing to
create long-term value and build customer relationships.
• Selling is a narrower activity that focuses on the direct process of
persuading customers to purchase, aiming for immediate sales results.
 Effective Marketing Strategies and practices

• 1. Market Research
• Definition: The process of gathering, analyzing, and interpreting
information about a market, including information about the target audience,
competitors, and the industry.
• Purpose: Helps businesses understand customer needs, preferences, and
behaviors, as well as market trends and opportunities.
[Link] Market
•Definition: A specific group of consumers at which a company
aims its products and marketing efforts.
•Purpose: Identifies and focuses on the most promising and
profitable segments of the market to tailor marketing strategies
effectively.

3. Segmentation
•Definition: The process of dividing a market into distinct groups
of buyers with different needs, characteristics, or behaviors.
•Purpose: Allows businesses to customize marketing efforts for
different segments to better meet their needs and preferences.
Common bases for segmentation include demographic, geographic,
psychographic, and behavioral factors.
4. Positioning
•Definition: The process of creating a distinct image and identity for a product or brand in the
minds of target customers.
•Purpose: Ensures that the product or brand occupies a unique place in the market relative to
competitors, highlighting its benefits and differentiators.

5. Marketing Mix (4 Ps)

•Definition: The set of actions or tactics a company uses to promote its brand or product in the
market. It consists of:
• Product: What is being offered to the market, including features, design, and quality.
• Price: The amount of money customers must pay to acquire the product, reflecting its
value and market positioning.
• Place: The distribution channels and locations where the product is available to customers.
• Promotion: The methods used to communicate the product’s benefits and features to the
target audience, including advertising, sales promotions, public relations, and social media.
•Purpose: Ensures a balanced approach to delivering value to customers and achieving business
objectives.
6. Branding
•Definition: The process of creating and maintaining a unique name, symbol,
or identity for a product or company.
•Purpose: Builds recognition and differentiation in the market, fosters
customer loyalty, and adds value through brand equity.

7. Customer Relationship Management (CRM)

•Definition: The practices, strategies, and technologies used to manage and
analyze customer interactions and data throughout the customer lifecycle.
•Purpose: Enhances customer satisfaction, builds loyalty, and improves long-
term relationships by understanding and addressing customer needs and
preferences.
8. Value Proposition
•Definition: The promise of value that a company delivers to customers
through its products or services.
•Purpose: Clearly communicates the benefits and unique features of a product
or service, addressing the specific needs and desires of the target market

9. Marketing Strategy
•Definition: A long-term plan that outlines how a company will achieve its
marketing objectives and gain a competitive advantage.
•Purpose: Provides a roadmap for implementing marketing tactics and
allocating resources to achieve business goals.
 Marketing Mix
• The Marketing Mix is a foundational concept in marketing that outlines the key
elements a company uses to successfully promote and sell its products or services. It
is often referred to as the "4 Ps" and includes the following components:

Product
Price
Place
Promotion
1. Product
•Definition: The item or service offered to customers that fulfills their needs
or desires.
•Key Considerations:
• Features: What the product does, its specifications, and its benefits.
• Quality: The level of excellence or standard.
• Design: The aesthetics and functionality of the product.
• Branding: The name, logo, and image associated with the product.
• Packaging: How the product is packaged, which can influence
perception and usability.
• Warranty: Any guarantees or services provided with the product
2. Price
•Definition: The amount of money customers must pay to acquire the
product or service.
•Key Considerations:
• Pricing Strategy: Determines how a product is priced relative to
its competition and market position. Strategies might include cost-
plus pricing, penetration pricing, skimming, or competitive pricing.
• Discounts: Temporary reductions in price to attract customers.
• Payment Terms: Conditions under which the product is paid for,
such as installment plans or credit options.
• Perceived Value: How customers perceive the value of the
product relative to its price.
3. Place
•Definition: The channels and locations through which the product is distributed
and made available to customers.
•Key Considerations:
• Distribution Channels: The routes through which the product moves
from the manufacturer to the end user, including direct sales, retail stores,
online platforms, or wholesalers.
• Location: The physical or digital places where the product is sold.
• Logistics: The processes involved in transporting and storing the product.
• Market Coverage: The extent to which the product is available in various
locations, including exclusive, selective, or intensive distribution strategies.
4. Promotion
•Definition: The activities and strategies used to communicate the product’s benefits and
persuade customers to purchase it.
•Key Considerations:
• Advertising: Paid promotions through media such as TV, radio, print, and online
ads.
• Public Relations: Efforts to build a positive image through media coverage, press
releases, and events.
• Sales Promotion: Short-term incentives like discounts, coupons, or special offers
to boost sales.
• Personal Selling: Direct interaction between sales representatives and potential
customers to close sales.
• Social Media and Content Marketing: Engaging with customers through
platforms like Facebook, Instagram, and blogs to build relationships and drive
interest.
Extended Marketing Mix (7 Ps)
In addition to the original 4 Ps, some models extend the marketing mix to include three more elements,
especially for service-based industries:

[Link]

Definition: The employees and customer service representatives who interact with customers and
deliver the product or service.
Key Considerations:
Training and Skills: Ensuring that staff are knowledgeable and capable.
Customer Service: Providing excellent support to enhance customer satisfaction and loyalty.
[Link]

Definition: The procedures and systems used to deliver the product or service.
Key Considerations:
Efficiency: Streamlining processes to improve delivery and reduce costs.
Consistency: Ensuring that the service or product delivery is uniform and reliable.
8. Physical Evidence
5. Definition: The tangible elements that help customers evaluate and
experience the product or service.
6. Key Considerations:
5. Facilities and Environment: The physical setting where the service
is delivered or the product is sold.
6. Packaging and Presentation: How the product or service is visually
presented and perceived.
 Marketing process
• 1. Market Research
• Objective: Understand the market for eco-friendly athletic shoes.
• Activities:
• Data Collection: EcoShoe conducts surveys and focus groups to find out what consumers
think about eco-friendly products, their buying behavior, and preferences regarding athletic
shoes.
• Analysis: They discover that there is a growing trend among consumers who are
environmentally conscious and prefer sustainable products. They also find that their target
audience is primarily millennials and Gen Z.
• Insights: The research shows a demand for eco-friendly products, especially among younger
demographics, and reveals competitors who are already in this space.
2. Define Target Market
Objective: Identify and describe the specific group of customers to focus on.
Activities:
•Segmentation: EcoShoe segments the market based on demographics (age
and income), psychographics (values and lifestyle), and behavior (purchase
habits).
•Targeting: They decide to focus on environmentally conscious millennials
and Gen Z who are active and have a preference for sustainable brands.
•Positioning: EcoShoe positions its product as the best choice for those who
want to be fashionable while supporting sustainability. The positioning
statement might be: “EcoShoe—where style meets sustainability for the
conscious athlete.”
3. Develop Marketing Strategy
Objective: Create a plan to effectively reach and engage the target market.
Activities:
•Setting Objectives: EcoShoe sets goals to increase brand awareness by 30% and achieve $500,000 in
sales within the first six months.
•Marketing Mix:
• Product: EcoShoe’s new line features shoes made from recycled materials and organic cotton,
with a stylish design.
• Price: Priced competitively at $120 per pair, balancing affordability with premium features.
• Place: Available online through the company’s website and eco-friendly retail partners. They
also plan to sell through major eco-conscious e-commerce platforms.
• Promotion: The company plans an integrated campaign including social media ads, influencer
partnerships with eco-friendly lifestyle bloggers, and content marketing focusing on the
sustainability of the product.
4. Implement Marketing Plan
Objective: Execute the strategies and tactics outlined in the marketing plan.
Activities:
•Action Plans: Develop social media posts, launch online ads, and engage
influencers to promote the product.
•Execution: EcoShoe releases a promotional video highlighting the eco-
friendly aspects of the shoes, hosts a launch event streamed live on social
media, and initiates a blog series about sustainable fashion.
•Coordination: Ensure the sales team is trained to handle inquiries about
the eco-friendly features of the shoes and that the website is optimized for
traffic.
5. Monitor and Evaluate
Objective: Assess the effectiveness of the marketing efforts and make
adjustments as needed.
Activities:
•Performance Metrics: Track metrics such as website traffic, social media
engagement, sales numbers, and customer feedback.
•Analysis: EcoShoe monitors sales data and social media responses. They
find that the influencer campaign drove significant traffic but that sales are
lagging behind expectations.
•Adjustment: Based on the feedback, they adjust their strategy by increasing
targeted promotions and offering limited-time discounts to boost sales.
6. Feedback and Improvement
Objective: Use insights from monitoring and evaluation to enhance future
marketing strategies.
Activities:
•Customer Feedback: Gather reviews and feedback from customers about
their experience with the shoes and the buying process.
•Continuous Improvement: EcoShoe uses this feedback to make product
improvements, such as better sizing options or improved customer service.
•Innovation: They explore additional eco-friendly materials and consider
expanding their product line based on customer interests.

•By following these steps, EcoShoe effectively launched their eco-friendly athletic shoes
and adapted their marketing efforts to maximize success.
 Marketing Environment
• marketing environment refers to the external and internal factors that
influence a company's ability to develop and maintain successful
relationships with its target customers. Understanding the marketing
environment helps businesses anticipate changes, adapt strategies, and make
informed decisions. The marketing environment is typically divided into two
main categories: the microenvironment and the macroenvironment.
1. Microenvironment
The microenvironment consists of factors that are directly related to the company and its operations. These
factors include:
a. The Company
•Internal Environment: The internal structure, culture, resources, and policies of the company.
•Objective: Ensures alignment of marketing strategies with the company’s goals and capabilities.

b. Suppliers
•Definition: Entities that provide the resources needed by the company to produce goods and services.
•Objective: Manage relationships with suppliers to ensure a consistent supply of quality materials and services.

c. Marketing Intermediaries
•Definition: Organizations that help the company promote, sell, and distribute its products to customers.
Examples include retailers, wholesalers, and agents.
•Objective: Optimize distribution channels to effectively reach target customers and support product sales.
d. Customers
•Definition: The individuals or organizations that purchase and use the company’s products or services.
•Objective: Understand customer needs and preferences to tailor products and marketing effort

e. Competitors
•Definition: Other businesses that offer similar products or services to the same target market.
•Objective: Analyze competitors’ strengths and weaknesses to identify opportunities and threats, and
develop strategies to differentiate the company.

f. Publics
•Definition: Groups that have an interest or impact on the company’s ability to achieve its objectives.
Examples include media, government, and local communities.
•Objective: Manage public relations and ensure positive interactions with different stakeholder groups.
2. Macroenvironment
The macroenvironment consists of broader societal forces that affect the microenvironment. These factors
are usually beyond the control of the company but must be monitored and adapted to. They include:
a. Demographic Environment
•Definition: Characteristics of the human population, such as age, gender, income, education, and occupation.
•Objective: Understand demographic trends to segment the market and target different customer groups
effectively

•.
b. Economic Environment
•Definition: Economic factors that influence consumer purchasing power and spending patterns, including
economic growth, inflation, and unemployment rates.
•Objective: Adjust pricing, budgeting, and marketing strategies based on economic conditions to match
consumers’ spending capabilities.
c. Sociocultural Environment
•Definition: Social and cultural factors that affect consumer behavior and attitudes, such as values, beliefs,
lifestyle, and social norms.
•Objective: Develop marketing messages and products that align with cultural trends and societal values.

d. Technological Environment
•Definition: Technological advancements and innovations that impact how products are developed,
marketed, and consumed.
•Objective: Embrace new technologies to enhance product offerings, improve marketing strategies, and
stay competitive.

e. Political and Legal Environment

•Definition: Laws, regulations, and political conditions that affect business operations, such as trade
policies, environmental regulations, and labor laws.
•Objective: Ensure compliance with legal requirements and adapt to changes in regulations and
Summary
The marketing environment encompasses both internal and external
factors that influence a company's marketing strategy:
[Link]: Includes factors directly related to the
company, such as suppliers, customers, competitors, and
intermediaries.
[Link]: Consists of broader societal forces,
including demographic, economic, sociocultural, technological,
political, and environmental factors.