Introduction to marketing

THARAKA DIASDirector – My Media Network

MBA(USA), BBA(USA), Dip in Mgt, ACIM(UK), FAEA(Dip in AEA-UK),

FinstSMM(UK), CPM(Asia), MSLIM, PM(Sri-Lanka)

Firm benefits from the digital revolution include: New promotional medium. Access to richer research data. Enhanced employee and customer

communication. Ability to customize promotions.

2AOT - www.tharakadias.com

A human need - a feeling of felt deprivation.

A human want - the form that a human need takes as shaped by culture and individual personality.

Demands - human wants that are backed by buying power.


ExperiencesExperiences PersonsPersons

ProductsAnything that can be Offered to a Market to Satisfy a Need or Want

ProductsAnything that can be Offered to a Market to Satisfy a Need or Want

PlacesPlaces

OrganizationsOrganizations IdeasIdeasActivitiesActivities

ServicesActivity or Benefit Offered for Sale That is Essentially

Intangible and Doesn’t Result in the Ownership of Anything

ServicesActivity or Benefit Offered for Sale That is Essentially

Intangible and Doesn’t Result in the Ownership of Anything


Production ConceptProduction Concept

Product ConceptProduct Concept

Selling ConceptSelling Concept

Marketing ConceptMarketing Concept

Societal Marketing ConceptSocietal Marketing Concept


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Production Concept

Product Concept

Selling Concept

Marketing Concept

Societal Marketing Concept

•Consumers favor products that are available and highly affordable.Improve production and distribution.

•Consumers favor products that offer the most quality, performance, and innovative features.

•Consumers will buy products only if the company promotes/ sells these products.

•Focuses on needs/ wants of target markets & delivering satisfaction better than competitors.

•Focuses on needs/ wants of target markets & delivering superior value to the society.AOT - www.tharakadias.com

AOT - www.tharakadias.com 9

Identifying a needMatching resources against that

needBuilding relationships to deliver

servicesDelivering services based on need in

a cost effective way

Sound familiar?10AOT - www.tharakadias.com

How will people benefit from what you are offering?

Insurance doesn’t sell the covering amount, they sell the benefit of security.

“Volunteering will bring you into contact with other people, which means that you will build a bigger circle of friends”


Top management leadership

A customer focus

Competitor intelligence

Inter functional coordination

Customer relationships


Attention = Key point Information = FeaturesDesire = benefitsConviction = Evidence, case

studiesAction = Response mechanism


Increase marketing efficiency by focusing marketing efforts to a particular group

Maximize scarce marketing resources

Find a market with limited competition

Select the most profitable segment


Industry(a collection

of sellers)

Market(a collection

of Buyers)

Goods/services

Money

Communication

Information16AOT - www.tharakadias.com

Total

Satisfa

ction

Total Satisfaction

Possession utility

Place utility

Time utility

Form utility

Oriental rug

Availability on time

Delivered to your home

Pay with your VISA card 18AOT - www.tharakadias.com

The name of a strategy

that entails forging long-term

partnerships with customers,

both individuals and firms.x


Presentability/appearanceOutgoing personalityExcellent interpersonal skillsAssertive


Develop positive relationshipOpportunity for future contactCreate a sense of obligationControl agendaPromoting product appears

secondary in many interactions


Value creation

► Accurately knowing what customers value

► Producing to incorporate such values

Communicate the value

► Inform, convince, remind, motivate

► Servicing the customers

► Physical delivery

► Servicing the customers

► Physical delivery

Deliver the value


Introduction to marketing

Marketing

Transcript of Introduction to marketing