Marketing: It’s a process that identifies, anticipates and satisfies customer requirements profitably.
Marketing Management: Is the analysis, planning, implementation and control of programs designed to bring about desired exchanges with target audiences for the purpose of personal and of mutual gain.

Importance of Marketing

  • Customer Satisfaction
  • Brand Loyalty
  • Market Expansion
  • Create Social Awareness
  • Corporate Image
  • Price Control
  • Improves Standard of Living
  • Expansion of other sectors
  • Helps to face competition

Scope of Marketing

Now a days, marketing is not confined into products and services. The scope is much larger, marketing people are involved in several types of entities:

  • Goods
  • Services
  • Experiences
  • Event
  • Persons
  • Place
  • Properties
  • Ideas

Core Marketing Concepts

  • Need, Wants and Demand
  • Target Market
  • Value Proposition
  • Marketing Mix (4Ps)
  • Customer Relationship
  • Environment Scanning

Marketing Philosophies

  • Production Orientation
  • Product Orientation
  • Sales Orientation
  • Market Orientation

Marketing Environment

  1. Micro Environment
    • Suppliers
    • Marketing Intermediarie
    • Customer Markets
    • Competitors
  2. Macro Environment
    • Demographic Environment
    • Economic Environment
    • Natural Environment
    • Technological Environment
    • Political Environment

Market Strategies and Plans

Market Strategy: Is an explanation of the goals you need to achieve with you marketing efforts. It’s shaped by your business goals
Marketing Plain: It’s how you are going to achieve those business goals. It’s a application of your strategy roadmap that will guide you from one point to another.
Marketing Strategy Marketing Plan Implementation == Success