INTRODUCTION TO MARKETING MANAGEMENT

WHAT IS MARKETED

Goods, Services e.g. work of bankers, lawyers, insurance, hotels (hospitability), Events: - Olympics, world cup. Places e.g. Singapore tourism. Experiences: - Orchestra Walt Disney.  Organizations:- Like Philips we make thing better like having a corporate identity of it’s own. Persons: - Madonna, Jordan, Oprah Winfrey. Information: - encyclopedias, books, magazines. Properties: - like Jaypee group, Ideas:- marketing of companies idea of the product for their customer’s

KEY CUSTOMER MARKETS

Consumer Markets: - Companies selling mass consumer and goods have to spend a great deal of time establishing a brand image which depends upon the quality of the product which depends upon: -

• Product superiority
• Reliability
• Packaging
• After sale service

Business Markets:- Companies selling goods to skilled and pro buyers must be really good enough o market their product considering that there product is providing enough high revenues when they sell it further in the market. In this case advertising may play a small role but major role would be played by sales force.

Global Markets:-  Companies should no which country to enter in terms of culture, target market their profit estimation and various other reasons.

Non profit and Governmental Markets: - Companies selling good to churches and other charitable places should be considerate about pricing of the goods as they have limited purchasing power. Government purchasing for bids where in the lower bid is the most favored..