Transcription of What is Marketing? Fundamentals of Marketing Management ...
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What is Marketing? Fundamentals of Marketing Management ...
BalakrishnanS #1 Fundamentals of Marketing ManagementManaging World-ClassOrganizationsDr. (Sundar) BalakrishnanBalakrishnanS #2 What is Marketing ?Process by which individuals and groups obtain what they need and want through creating and exchangingproducts and value with put: Marketing is the delivery of customer satisfaction at a #3 The Marketing Objective Satisfy the needs of a group of customers better than the competition. Distinguish from Selling or Advertising: merely a subset of Marketing actions used to satisfy consumer needs. Marketing focuses on the use of all the firm s controllable influences to satisfy the #4 Activities in the Marketing Process .. Identify needs of customers that company can satisfy Design a Product ( bundle of benefits ) that satisfies those needs - better than existing products.
Sustaining Value •Customer • Company • Competitor • Collaborators • Complementors • Context Communicating Value Creating Value Balakrishnan S #27 Consumer Benefits Create value for consumers and benefit producers through the four utilities: • Form utility–having a product or service in the form you want it by to make it more ...
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