3. According to Kotler “Marketing is the social process by
which individuals and organizations obtain what they
need and want through creating and exchanging value
with others”.
Marketing can also be defined as ‘The right product, in the
right place, at the right time, and at the right price’
4. Birth of marketing ideas
In pre-modern economies, the predominance of small
enterprises militated against the recognition of marketing
as a separate field of expertise. Changes in the patterns
and intensity of economic activity, as well as the rise of
economics as a science, particularly in the 19th
century, paved the way for studies of marketing. The
growth in size and scope of national and international
economies in the course of the Industrial revolution led
eventually to a transcendence of ad hoc retailing and
advertising innovations and eventually to systematization.
Marketing emerged as a separate technical field only in
the late 19th century
5. Much of traditional marketing practice prior to the
twentieth century remained hidebound by rules-of-thumb
and lack of information. Information
technology, especially since the mid-twentieth century, has
given the marketeer new channels of communication as
well as enhanced means of aggregating and analyzing
marketing data. Specializations have emerged (especially
sales versus marketing and advertising versus retailing)
and re-combined (business development) over the years.
6. Periodization Of Marketing
Social
Marketing
Relationship
orientation
Market orientation era
Product orientation era
Production orientation era
Barter System
7. Barter system
Barter System is that system in which goods are
exchanged for goods. In ancient times when money was
not invented trade as a whole was on barter system. This
was possible only in a simple economy but after the
development of economy, direct exchange of goods
without the use of money, was not without defects. There
were various defects in this system
8. Production orientation
A production orientation dominated business thought from
the beginning of capitalism to the mid 1950s, and some
argue it still exists in some industries. Business concerned
itself primarily with production, manufacturing, and
efficiency issues. Say's Law encapsulated this
viewpoint, stating: "Supply creates its own demand". This
orientation rose to prominence in an environment which
had a shortage of manufactured goods relative to
demand, so goods sold easily.
9. Product orientation era
Product orientation era was a business philosophy prior to
the 1920's where manufacturers stressed production of
quality products and then looked for people to purchase
them. In this era, manufacturers felt that good products
with high physical quality would sell itself
10. Market orientation era
Firms that have moved from simply having a marketing
department that follows a customer orientation to having
the marketing department guide the company's direction
are called marketing companies. In marketing
companies, the marketing department sets company
operating policy, including technical
research, procurement, production, advertising, and sales
11. Relationship orientation
Starting in the 1990’s, a new stage of marketing emerged
called relationship marketing. The focus of relationship
marketing is on a long-term relationship that benefits both
the company and the customer. The relationship is based
on trust and commitment, and both companies tend to
shift their operating activities to be able to work more
efficiently together.
12. The societal marketing concept
Societal marketing emerged in the 1960s. The societal
marketing concept deals with the needs, wants and
demands of customers: how to satisfy them by producing
superior value that should satisfy the customers and
promote the well-being of society. The producer should
not produce products deemed hazardous to society.
14. Digital Marketing Era
Digital marketing may cover the more traditional
marketing areas such as Direct Marketing by providing the
same method of communicating with an audience but in a
digital fashion.
Pull and Push
Pull digital marketing in which the consumer must
actively seek the marketing content, often via web
searches, and push digital marketing where the marketer
sends the content to the consumer, as in email
15. Sales Era
It’s the only job where you deal with the customer. You have
to satisfy him in order to do your job. Only revenue earning
profile in company
Focus on aggressive sales techniques and believe that high
sales result in high profits
17. The future of marketing lies ahead in online
marketing, using social networks to market the
products, using and inventing new technologies for
marketing and in delighting the customers by coming up
with customized products for them.
18. Customizations of product
Customization is one aspect which shall play a huge role for
marketing products. Customization not only makes the
customer feel happy and satisfied but it also helps the
company in achieving long term and profitable
consumers. For example airtel provides its users with
customized mobile plans depending on their usage and
preference. Also levi's is starting to make customized
jeans for their customers by charging a little extra
19. Social Network
Nowadays social networking sites are a rage amongst the
youngsters and with more than 850 million registered
users, sites like Facebook and twitter are the hot places for
targeting your customers. A lot of people spend a
significant amount of time on them and so they provide a
huge opportunity for marketers which can not not be
denied. On social networks the products can be
customized in accordance with the user's needs and also it
helps in making the products popular quickly as word of
mouth helps in achieving success and it also provides
companies to come closer to their customers and
recognize and create new products for them.
20. With the world population reaching mind boggling digits
and new companies day in and day out, marketers need to
come out with new and innovative ways of marketing the
products .For example facebook recently came up with its
timeline feature which allows its users to tell the story of
their life starting from their childhood to the time they
turn into baby boomers
21. Digital Marketing
Digital Marketing is the practice of promoting products
and services using database-driven online distribution
channels to reach consumers in a timely, relevant, personal
and cost-effective manner.
Not surprisingly, billions of marketing dollars spent on
traditional channels is already starting to shift to digital
marketing campaigns and this will continue to increase as
the Web matures.
22. Some more but up coming
Exciting upcoming technologies like Near Field
Communication(NFC) and cloud computing provide
interesting platforms for marketers to market their
products
