This document provides an overview of key concepts in marketing management. It defines marketing as "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." The document outlines the main functions of marketing including exchange, physical supply, and facilitating functions. It also discusses the marketing mix of product, price, place, and promotion, as well as product life cycles and marketing strategies for different stages. Finally, it covers channels of distribution and key differences between products and services.

1. UNIT IV (B)
MARKETING
MANAGEMENT
Dr. S. Vijaya Bhaskar
PROFESSOR IN MECHANICAL ENGINEERING
SREENIDHI INSTITUTE OF TECHNOLOGY
GHATKESAR, HYDERABAD – 501 301

2. MARKETING
“Marketing is 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.”
–Prof. Philip Kotler

3. MARKETING
Sale

4. Marketing
 Marketing is the activity, set of
institutions, and processes for creating,
communicating, delivering, and
exchanging offerings that have value for
customers, clients, partners, and society at
large.
- American Marketing Association

5. Marketing Functions
The marketing functions comprise:
1. Buying
2. Selling
3. Transportation
4. Storage
5. Standardization
6. Grading
7. Financing
8. Risk taking
9. Market research

7. Functions can be broadly classified into:
1. Functions of Exchange
i. Buying and Assembling
ii. Selling
2. Functions of Physical Supply
i. Transportation
ii. Storage and Warehousing
3. Facilitating Functions
i. Financing
ii. Risk – taking
iii. Standardization and Grading
iv. Market information and Research

8. Functions can be broadly classified into:

9. MARKETING MIX

10. MARKETING MIX

11. PRODUCT PRICE PROMOTION PLACE
Variety Listed price Sales promotion Distribution
ChannelsQuality Discounts Advertising
Design Allowances Personal Selling Coverage
Features Payment
period
Publicity Locations
Brand name Stocks
Packaging Transport
Sizes Collection
periodRelated
Services
Returns
Warranties

12. PRODUCT LIFE CYCLE

13. MARKETING STRATEGIES
 INTRODUCTION STAGE:
 Create wide product awareness
 Product has to satisfy core customer needs
 Select either Skimming price or
Penetration price
 Excessive promotional activity

14.  GROWTH STAGE:
 Maximize market share
 Sacrifice short term profitability by improving
product features
 Establish a strong brand image
 Reduce prices

15.  MATURITY STAGE:
 Focus on more profitability
 Modify product line
 Sales promotion

16.  DECLINE STAGE:
 Minimize marketing expenditure
 Transfer of funds
 Reduce promotional expenditure
 Cut prices and rationalize the product range

17. CHANNELS OF DISTRIBUTION
Channels of Distribution refer to the ways and
means of reaching the customer through
intermediaries.
Manufacturer Consumer
Manufacturer Wholesaler Consumer
Manufacturer Retailer Consumer
Manufacturer Wholesaler Retailer
Consumer

18. Differences Between Product
and services
1.While a product is concrete, service is an
activity or process
e.g.: While an Aircraft is an product, flying
to an particular destination is a service
2.Products are Tangible while Services are
Intangible
e.g.: One can touch ,see, smell a product
one wishes to buy Vs experiencing a foot
massage at spa

19.  3.Products are Homogenous while Services
are Heterogeneous
e.g.: anybody producing a good can
standardize the output. The quality of service
depends on who, when, where the service
is produced
 4.Product and distribution of goods is
separated from consumption. In Services,
production, distribution and consumption is
simultaneous

20. 5.Core values of products is produced in the
factory while that of services is produced in
the buyer-Seller Interaction
6.Goods can be stored and it is impossible to
store services.
7.There is a transfer of ownership of goods
from the manufacture to dealer to consumer
e.g.: Buying and selling of cars
In services you can have access to the
services but cannot own it.
e.g.: You can stay in a hotel room but you
cannot own it

21. 1.Product-Services
2.Tangible-Intangible
3.Perishable- Non-Perishable
4.Inseparable-separable
5. Easier to market- More difficult to
market
6. More control over quality – Less
control over quality