marketingugabm_2

8/2/2019 MarketingUGABM_2

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Introduction toMarketingRitu Mittal


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How will you best introduce

yourself?

Convince me that you are the best person for the

job!

Convince your parents for permitting a late night

party with your friends!

Convince me that you genuinely were ill, hence could

not complete your assignment!

Why did you want to convince me? What was yourbenefit?

Why will I be convinced? How will I be benefitted?

Ritu Mittal | Agri Business


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What is a Market?

Place where you sell

Place where you buy

Place where you get Information Examples of a Market: Local market, Stock

Market, Global Market etc.



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What consists of a Market?

Buyer

Seller

Products Services



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Types of Market

Physical Market Village Haat

Mandi

Shops

Showrooms

Hawkers

Malls

Exhibitions

Selling from home



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Types of Market (contd)

Virtual Markets

Internet

Dial an order

Teleshopping

E-Commerce



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Types of Market (Economics)

Monopoly

1 product, 1 seller, many buyers, Lack of economic competition, lack of substitute goods & services, Maximum

profit for seller, Price giver, Entry Barrier,

Monopsony

1 Buyer, many sellers, Lack of economic competition, limited market, price giver

Perfect Competition

Homogenous goods, multiple buyers & sellers, demand & supply based price determination, equal profits for all

Monopolistic

Many sellers sell SIMILAR goods, Product differentiation is due to packaging, branding, For example, the basic function of

motor vehicles is basically the same - to move people and objects from point A to B in reasonable comfort and safety. Yet

there are many different types of motor vehicles such as motor scooters, motor cycles, trucks, cars and SUVs and many

variations even within these categories. Pricing is based on what competing firm is charging.

Oligopoly

Handful of sellers control the market, Price givers, influence the industry, each firm will consider the other firms

actions & reactions when making decision,



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Why do we Sell & Buy?

Produce goods & services

Demand

Revenue Generation Profit

Needs

Wants



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What is Marketing?

is Meeting needs profitably

By Definition:

Marketing is an organizational function and a

set of processes for creating, communicating

and delivering value to the customers and formanaging customer relationships in ways that

benefit the organization and its stake holders.



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What is Marketed?

o Goods- Seeds, FMCG, Equipments

o Services- Pest control, software, transport

o Events- Olympics, artistic performance

o Experience- Consultant, Marketing Trainero Person- Celebrity, Artists

o Places- Tourists

o Property- Real estate, Stocks and Bonds

o Organization- Promotions for the image and stakes

o Information- Projects

o Ideas- Social promoter(friends dont let friends drive

drunk)Ritu Mittal | Agri Business


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Marketing Process

Industry(A collection of Sellers)

Market(A collection of Buyer)

Communication

Goods/Services

Money/ Benefits

Information


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Assignment

How will YOU sell a An Apple to the class?

Only 5 mins. Talking time for each student



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Marketing Mix



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4 Ps of Marketing


Product

Price

Place Promotion


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Product

Product Profiling Variety/Type

Complementary/Supplementary/Substitute

Quality

Design

Brand Name

Packaging

SKU (Stock Keeping Unit)

Service

Warranty/Return Frequency of use

Features

USP (Unique Selling Point)



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Price

MRP

Re-Seller Price

Discounts Payment Mode (Cash/Cheque/Card/DD)

Period of Payment

Credit Terms Price with respect to Competition



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Place

Channel of Distribution

Alternative Delivery Channel

Locations Back End ~ Front End Coverage

Inventory

Logistics



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Promotion

Advertising

Sales Promotion

ATL BTL

Sales Force

Public Relations Mode of Marketing Direct/Re-seller



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Target Audience



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Segmentation

Demography

Behaviourial

Geographic Psychographic



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Product Differentiation



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Positioning

the act of designing the companys

offering and image to occupy a distinctive

place in the the target markets mind.


marketingugabm_2

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