What Marketing is actually concerned with ?

What Marketing is actually concerned with ?

agarbandhu

According to Philip Kotler
Marketing is a social process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.

Marketing is the analysis, planning, implementation, and control of carefully formulated programs designed to bring about voluntary exchanges of values with target markets for the purpose of achieving organizational objectives. It relies heavily on designing the organization’s offering in terms of the target markets’ needs and desires, and on using effective pricing, communication, and distribution to inform, motivate, and service the markets.

KEY POINTS
a)Managerial Process involving analysis, planning and control.

b)Carefully formulated programs and not just random actions.

c)Voluntary exchange of values; no use of force or coercion. Offer benefits.

d)Selection of Target Markets rather than a quixotic attempt to win every market and be all things to all men.

e)Purpose of marketing is to achieve Organizational Objectives. For commercial sector it is profit. For non-commercial sector, the objective is different and must be specified clearly.

f) Marketing relies on designing the organization’s offering in terms of the target market’s needs and desires rather than in terms of seller’s personal tastes or internal dynamics. User-oriented and not seller-oriented.

g) Marketing utilizes and blends a set of tools called the marketing mix – product design, pricing, distribution and communication. Too often marketing is equated either with just advertising or with just personal selling.

MARKETING vs. SELLING
There will always, one can assume, be need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy.

All that should be needed then is to make the product or service available.

BENEFITS & CRITICISMS OF MARKETING
Benefits
a)Improved Satisfaction of Target Market
b)Improved efficiency in activities

Criticism
a)Marketing wastes money
b)Marketing activity is intrusive
c)Marketing is manipulative

NATURE OF ORGANIZATIONS
The Unresponsive Organization

a)It does nothing to measure the needs, perceptions, preferences or satisfaction of its constituent publics.
b)It makes it difficult for its constituent publics to place inquiries, complaints, suggestions or opinions.

The Casually Responsive Organization
a)It shows an interest in learning about consumer needs, perceptions, preferences, and satisfaction.

b)It encourages consumers to submit inquiries, complaints, suggestions and opinions.

ORIENTATION OF ORGANIZATIONS
a) Production Orientation – Arose in scarcity economies. Business concentrated on production output and efficiency. Finding customers easy; products kept simple and often quality scaled down to increase profits.

b) Sales Orientation – Key assumptions are as follows:
1)The main task of the firm is to get sufficient sales for its products.

2)The consumer can be induced to buy through various sales stimulating techniques and devices.

3) The customer will probably come back again and even if he does not, there are many other customers out there.

c) Marketing Orientation – The marketing concept is a consumers’ needs orientation backed by integrated marketing aimed at generating consumer satisfaction as the key to satisfying organizational goals

Bojourn..........!!!!!!!!!!!!!!!! agarbandhu