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Modern Marketing Concept - Presentation

   

Added on  2020-09-03

27 Pages6109 Words44 Views
FinanceProfessional DevelopmentMarketing
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PresentationSlide 1:Slide 2:Marketing ConceptMarketing concept refers to the analysis of the customer needs and then satisfying theseneeds.•Product Concept: Product concept recommends that people want the qualityof the product and inventive nature of it. This kind of concept is attracting tothe business persons, but a bit risky by nature. Since in present only productquality is not enough for a product being sold. •Production concept: Production concept recommends that consumers wantproducts which are frequently accessible and cheap. Thus, marketers increasetheir production by different actions and eventually the price of the productfalls down.•Selling concept: The sales concept does not have any eagerness to knowwhether the product is actually desired or not; the only objective of this
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method is to beat the competitors to the sale with little regard to customersatisfaction. •Marketing Concept: Marketing concept recommends that the ultimate job ofan organization is to find out the wants of the customers and try to satisfythese needs. This is a more customer oriented concept than the others. Andthus, this has the most popularity in the present age. Slide 3:Slide 4:
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Marketing Process Situation Analysis:This phase of marketing process is all about assessing the market situation for business andfind out the probability of company’s success. Then undergo different analysis of thecompany.Developing Marketing Strategy:In this stage of marketing mix, we segment the market and then evaluate the target marketand their behavior. In this process companies try to determine the market constraints and thenposition them in such a way that their business can avoid these constraints.Determining Marketing Mix:Traditional marketing mix contains 4 elements. Which are-Product, Price, Place, Promotion.But to keep in touch with the market orientation towards the customers, many companiesnow use extended marketing mix models. Which usually adds three more elements in concernlike- people, physical evidence and process.Management of marketing efforts.This concept relates to the positioning of the product of a company in the thoughts of thecustomers as compared to the products of opponents. In other words, the company attempts tokeep a clear and specific perception in customers about its products. When a company wantsto position its product, it first stipulates the competitive superiority for which it offerscompetitive advantages to its targeted customers. The whole marketing program of thecompany should focus on identifying its positioning strategy. The positioning is actual when
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the company truly provides the efficient, and good offering to its customers in order to givethem maximum value as compared to the offering of competitors.Slide 5:Slide 6:
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Slide 7:Slide 8:
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Comparing Extended Marketing Mix of ‘EE’ & ‘Three’Marketing mix is one of the fundamental concept of marketing. According to P. Kotler,“Marketing mix is the set of marketing tools that the firm uses to pursue its marketingobjectives in the target market.” Basic marketing mix of McCarthy consists of 4Ps, whichare:ProductPricePlacePromotionBut in todays’ marketing reality, where customers are more demanding and competition ismore fierce companies must use some more marketing tools to ensure the success. Thus,modern marketers have extended the basic marketing mix to 7Ps, whose additional 3Ps are:People
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