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Definition of Marketing: According To William Stanton, "

The document defines marketing as a system of business activities aimed at satisfying customer needs through the exchange process. It discusses the key concepts in marketing like the marketing mix, marketing research, product development, pricing, promotion, distribution. The document also compares and contrasts the differences between goods and services marketing. It outlines the growing importance of services in the economy and daily life.

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Sai Padwal
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We take content rights seriously. If you suspect this is your content, claim it here.
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4K views21 pages

Definition of Marketing: According To William Stanton, "

The document defines marketing as a system of business activities aimed at satisfying customer needs through the exchange process. It discusses the key concepts in marketing like the marketing mix, marketing research, product development, pricing, promotion, distribution. The document also compares and contrasts the differences between goods and services marketing. It outlines the growing importance of services in the economy and daily life.

Uploaded by

Sai Padwal
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
  • Definition of Marketing
  • Scope of Marketing
  • Features Of Marketing
  • Importance/ Benefits Of Marketing
  • Concept of Marketing
  • Types of Marketing
  • Features Of Consumer Goods Mkt
  • Characteristics of Service Mkt
  • SELLING v/s MARKETING
  • CGM \ IGM
  • Marketing Mix
  • Features of Marketing Mix
  • Basic Elements
  • Factors Influencing Marketing Mix
  • Introduction to Service Marketing
  • Characteristics of Service
  • Classification Of Services
  • Growing importance of services
  • Impact of services on daily life
  • Physical Goods v/s Services
  • Significance of Services Marketing

Definition of Marketing

 According to William Stanton, “Marketing is a total system of


business activities designed to plan, price, promote &
distribute want satisfying products to target markets in order
to achieve organisational objectives.”

 According to Philip Kotler, “marketing is a human activity


directed at satisfying needs and wants through exchange
process.”
Scope of Marketing
 Marketing Research
 Product Planning & Development
 Pricing
 Advertising & Publicity
 Sales Promotion
 Packaging
 Branding & Labelling
 After Sales Service
 Test Marketing
Features Of Marketing
 Regular & Continuous Activity
 Satisfaction of Human Wants
 Relates to Goods and Services
 Transfer of Ownership
 Creates Different Utilities
 Importance of 4Ps
 Evolutionary Concept
 Wide in Scope
Importance/ Benefits Of Marketing
 Satisfaction of human needs & wants
 Profits & market reputation
 Facilitates specialisation division of labour
 Widens the market
 Improves standard of living
 Bring economic growth
 Creates new norms of social economic behaviour
 Provides channels of communication to business firms
 Facilitates price control
 Develops social significance at.
Concept of Marketing

 The exchange concept


 The production concept
 The Product concept
 The Selling concept
 The marketing concept
 The Societal concept
 The relationship marketing concept
Types of Marketing

 Organised Market
 Regulated Market
 Urban Market Concentrates Market
Higher standard of living
 Rural Market Modern outlook
Infrastructural facilities
 Industrial Market Saving Habits
Urban finance
 Consumer goods Location of consumers clustered
Higher literacy rate
 Service Market Better lifestyle
Features Of Consumer Goods Mkt
 Large numbers of Buyers & Sellers
 Widespread Market
 Durable & Perishable Goods
 Continuous Demand
 Limited Information
 High competition
 Promotion Techniques
 Risky in Nature
Characteristics of Service Mkt

 Intangibility
 Service Variability
 Simultaneous Production & Consumption
 Inseparateability
 Service perishability
SELLING v/s MARKETING
 Meaning
 Aim
 Orientation
 Basis
 Consumers Place
 Role of Profit
 Importance
 Target
CGM \ IGM
 Meaning
 Demand
 Buyer
 Frequency of Purchase
 Location of Buyers
 Cost
 ASS
 Effectiveness of Advertising
Marketing Mix

 Acc to Philip Kotler,”Marketing mix is a


mixture of controllable marketing variables that
the firm uses to pursue the sought level of a
sale in the target market .”
Features of Marketing Mix
 Basic Marketing Variables
 Aims In Achieving Targets
 Flexible
 Skillful Combination
 Customers
 Interrelated
 Universal App
Basic Elements

 Product
 Place
 Promotion
 Price
Factors Influencing Marketing Mix

 Behaviour Of Consumers
 Trade Factors
 Market Competition
 Behaviour Of the Government
Introduction to Service Marketing

 Definition:Acc to AMA,”Services are the


activities,benefits or satisfaction which are offered
for sale or are provided in connection with the sale
of goods”
Characteristics of Service

 Intangibility
 Perishability
 Inseparability
 Ownership
 Simultaneity
 Quality Measurement
CLASSIFICATION OF SERVICES:

 Nature of the Service Act


 Type of relationship that the service
organisation has with its customers
 Scope for customization and judgment in
service delivery
 Nature of Demand and Supply for the service
 Methods of Service Delivery
Growing importance of services
 Qualified technician
 Communication service
 Increasing Standards
 Banking services
 Personal Care
 Electricity Services
 Transport Services
 Tourism industry
 Hospitality Services
 Depleting Natural Resources
Impact of services on daily life
 Consumer Affluence
 Working Women
 Greater Life Expectancy
 Complexity of Life
 New Young/Youth
 Corporate Crowd
 Product Innovation
 Growth Product Complexities
Physical Goods v/s Services

1) Tangible 1)Intangible
2) Homogeneous 2) Heterogeneous
3) Production & Distribution 3) Production Distribution &
Consumption
4) A thing 4) An activity or Process
5) Core value produced in factory 5) Core value produced in buyer-
seller interaction
6)Can be Stocked 6)Cannot be Stocked
7) Transfer of ownership 7) No Transfer of ownership
8) No Participation 8) Participation
Significance of Services Marketing

 Least possible dependence on technology


 Raising the standard of living
 Generation & expansion of job opportunities
 Optimum utilisation of untapped resources
 Paving avenues for capital formation

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