MBA Marketing Notes.PPT

I am student of MBA in Marketing in Indian Institute of Banking & Finance and I want to get notes for MBA in marketing program as PPT .

As you want to get the notes of MBA Marketing of subject of Marketing Concepts & Challenges so here is the information of the same for you:

Question - What do you mean by marketing management? Explain nature and scope of marketing management.
Answer

Definition of Marketing
According to American Marketing Association, "Marketing is an organisational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organisation and its stakeholders."

Definition of Management
According to Harold Koontz, "Management is the art of getting things done through and with people in formally organised groups."

Management consists of the interlocking functions of creating corporate policy and organising, planning, controlling, directing an organisation's resources in order to achieve the objectives of the policy.

Definition of Marketing Management
According to Philip Kotler, "Marketing Management is the analysis, planning, implementation and control of programmes designed to bring about desired exchanges with target audiences for the purpose of personal and of mutual gain. It relies heavily on the adoption and coordination of product, price, promotion and place for achieving responses.".

Marketing management is a business process, to manage marketing activities in profit seeking and non profit organisations at different levels of management. Marketing management decisions are based on strong knowledge of marketing functions and clear understanding and application of supervisory and managerial techniques.

Nature of Marketing Management
It Combines the Fields of Marketing and Management
As the name implies, marketing management combines the fields of marketing and management. Marketing consists of discovering consumer needs and wants, creating the goods and services that meet those needs and wants; and pricing, promoting, and delivering those goods and services. Doing so requires attention to six major areas - markets, products, prices, places, promotion, and people.

Management is getting things done through other people. Managers engage in five key activities - planning, organising, staffing, directing, and controlling. Marketing management implies the integration of these concepts.

Marketing Management is a Business Process
Marketing management is a business process, to manage marketing activities in profit seeking and non profit organisations at different levels of management, i.e. supervisory, middle-management, and executive levels. Marketing management decisions are based on strong knowledge of marketing functions and clear understanding and application of supervisory and managerial techniques. Marketing managers and product managers are there to execute the processes of marketing management. We, as customers, see the results of such process in the form of products, prices, advertisements, promotions, etc.

Marketing Management is Both Science and Art
“Marketing management is art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.” (Kotler, 2006). Marketing management is a science because it follows general principles that guides the marketing managers in decision making. The Art of Marketing management consists in tackling every situation in an creative and effective manner. Marketing Management is thus a science as well as an art.

Question - What is marketing? Define and explain marketing on the basis of different approaches.

Answer
Introduction
In today's world of marketing, everywhere you go you are being marketed to in one form or another. Marketing is with you each second of your walking life. From morning to night you are exposed to thousands of marketing messages everyday. Marketing is something that affects you even though you may not necessarily be conscious of it.

After reading this you'll understand - what exactly the marketing is, different definitions of marketing, and what are the different approaches of marketing.

Definition and Meaning of Marketing
According to American Marketing Association (1948) - "Marketing is the performance of business activities directed toward, and incident to, the flow of goods and services from producer to consumer or user."

AMA (1960) - "Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or user."

The above definitions are based on the economic approach of marketing. Marketing embraces all the business activities involved in getting goods and services , from the hands of producers into the hands of final consumers. The business steps through which goods progress on their way to final consumers is the concern of marketing.

Consumer's Approach of Marketing
According to Star et al. (1977) - "Marketing is that process through which a business enterprise, institution, or organisation 1. selects target customers or constituents, 2. assesses the needs or wants of such target customers, and 3. manages its resources to satisfy those customer needs or wants."

The above definition is based on the consumer's approach of marketing. According to this approach marketing consists of four general activities:-
Identifying and selecting the type of customer, understanding their needs and desires;
Designing product or services that suits the customers' desires;
Persuading customers to buy at the firm's offerings; and
Storing, moving, and displaying goods after they leave the production site.
Societal Approach of Marketing
According to Mazur (1947) - "Marketing is the delivery of a standard of living to society."

This definition is based on the societal approach of marketing. According to Cunningham and Cunningham (1981) societal marketing performs three essential functions:-
Knowing and understanding the consumer's changing needs and wants;
Efficiently and effectively managing the supply and demand of products and services; and
Efficient provision of distribution and payment processing systems.
Managerial or Systems Approach
According to Eldridge (1970) - "Marketing is the combination of activities designed to produce profit through ascertaining, creating, stimulating, and satisfying the needs and/or wants of a selected segment of the market."

The above definition is based on the managerial or systems approach of marketing. According to this approach the emphasis is on how the individual organisation processes marketing and develops the strategic dimensions of marketing activities.

A Broader Approach of Marketing
According to Kotler (2000) - "A societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others."

According to AMA (2004) - "Marketing is an organisational function and set of processes for creating, communicating and delivering value to customers and for managing relationships in a way that benefits both the organisation and the stakeholder."

As you want to get MBA Marketing notes for Indian Institute of Banking & Finance so for your help I am providing the link for the PPT notes.
The notes include the following topics:

What is Marketing
Simple marketing system
What do we market
Core concepts of marketing etc

Click on the link to get the notes

iibf.org.in/uploads/caiibgbmmarketingmngtmodule_d.ppt

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Answered By StudyChaCha Member

Can you please give me the notes of MBA Marketing of subject of Marketing Concepts & Challenges as it is very urgent for me?