01. 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)

Why is marketing important? What is the scope of marketing? What are some fundamental marketing

concepts? How has marketing management

changed? What are the tasks necessary for

successful marketing management?

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Consumer benefits from the digital revolution include: Increased buying power. Greater variety of goods and services. Increased information. Enhanced shopping convenience. Greater opportunities to compare product

information with others.


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

communication. Ability to customize promotions.


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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.


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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 IdeasIdeasActivit iesAct ivit ies

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 Anything8AOT - www.tharakadias.com

Production ConceptProduction Concept

Product ConceptProduct Concept

Selling ConceptSelling Concept

Marketing ConceptMarketing Concept

Societal Marketing ConceptSocietal Marketing Concept


"Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements at profit, in a Sociably acceptable manner while protecting industry ethics.." The official academic definition from The Chartered Institute of Marketing (CIM).

Industry(a collection

of sellers)

Market(a collection of Buyers)

Goods/services

Money

Communication

Information11AOT - www.tharakadias.com

Goods Services Events and

experiences Persons

Places and properties Organizations Information Ideas


Negative Nonexistent Latent Declining

Irregular Unwholesome Full Overfull


Consumer markets Business markets Global markets Nonprofit/Government markets


Four Ps Product Price Place Promotion

Four Cs Customer solution Customer cost Convenience Communication


Developing marketing strategies

Capturing marketing insights

Connecting with customers

Building strong brands

Shaping market offerings

Delivering value Communicating

value Creating long-

term growth


• Increased customer satisfaction• Increased customer loyalty• Increased reputation• Increased motivation among staff• Increased market share• Reduction of waste• Combat threats from competitors

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

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Internal marketing is the task of hiring, training, and motivating able

employees who want to serve customers well.


• Customer retention has become a major problem in the competitive world of business.

• Relationship Marketing is the process of creating, building and managing long term relationship with customers, distributors and suppliers. Life Time Value of a customer is emphasized more than a value of a single transaction

• Traditional Marketing is concerned with the exchanges with customers.

• The emphasis was to develop products that will satisfy customers and focus was basically on (single) transaction.

• Not much effort was kept on keeping the customer for a long time and Life Time Value was not considered much.

Marketing Research New product developmentNew product development Branding Marketing communication Sales CSR


The process of planning, collecting, and analyzing data relevant to a marketing decision.

CollectCollectDataDataCollectCollectDataData

Plan Design/Plan Design/Primary DataPrimary DataPlan Design/Plan Design/Primary DataPrimary Data SpecifySpecify

SamplingSamplingProcedureProcedure

SpecifySpecifySamplingSamplingProcedureProcedure

DefineDefineProblemProblemDefineDefineProblemProblem

AnalyzeAnalyzeDataDataAnalyzeAnalyzeDataData

Prepare/Prepare/PresentPresentReportReport

Prepare/Prepare/PresentPresentReportReport

Follow UpFollow UpFollow UpFollow Up

Introducing totally new innovative products & services to the market

Adding new & innovative features for your existing products & services

Example: The pocket calculator created a new market & made

obsolete the Slide-Rule. At the other extreme a shampoo which is different from

the existing products only by means of its brand name, fragrance, packaging & color’s is also a new product.


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Idea generationIdea generation

CommercialisatioCommercialisationn

Test marketingTest marketing

Idea screeningIdea screening Concept testingConcept testing

Business Business AnalysisAnalysis

11 22 33

Product Product DevelopmentDevelopment

66 77

44 55

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Any activity or benefit that one party can offer to another that is essentially intangible & does not result in ownership of anything

Characteristics of a service: Intangible Inseparable Perishable Heterogeneous Does not result in ownership Produces & consumed at the same time


A brand is a name, term, sign, symbol or combination of them intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of competition(AMA)

A way of differentiate a product from a mere commodity

The simplest definition is , branding is all about naming a commodity

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TANGIBLE ATTRIBUTES

Product Packaging Labeling Attributes Functional benefits

INTANGIBLE ATTRIBUTES

Quality Emotional benefits Value Culture Image

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Push - Pushing the product into the distribution channels.

Example: Personal selling, exhibitions, sales promotions & trade advertising

Pull - Pulling the product through, by encouraging customer demand through advertising, sales promotions & in-store merchandising

Profile - Responding to & receiving information from stakeholders.

Example: Developing dialog with stakeholders in order to better inform them about the organization, its policies & also to position the corporate brand in the minds of the stakeholders


Inform Remind Persuade

Strategies DRIP AIDCA


Advertising (ATL/BTL) Personal selling Direct Marketing Publicity Sales Promotions


The sales function could be also referred to as distribution. The main responsibility of this function would be to make your products & services available at the most appropriate & convenient locations for your customers


Business dictionary defines CSR as "A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship

Through their waste and pollution reduction processes, By contributing educational and social programs and By earning adequate returns on the employed

resources.


Differentiating you self from competition Truly adding some value to the society Proactive approach of minimizing the

damages from future negative or adverse publicity

Recognition from the government & other regulatory bodies


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[email protected]

AOT - THARAKA DIAS

mailto:[email protected]

01. introduction to marketing

Marketing

aot tharaka diasa human

scope of marketing

fundamental marketing

tharaka diaswhy

tharaka diasdirector

customer communication

increased information

digital revolution