A1497171628 17438 7 2018 Chapter 1

Copyright © 2015 by McGraw Hill Education (India) Private Limited

Learning Objectives:
 Changing Indian market and innovation challenges;
 New marketing concepts and the significance of social

networks in the great Indian market
 Differentiation between types of orientations prevalent in

organizations
 Evolution of the contemporary marketing process;
 the purpose of marketing
 Concept of Marketing Mix and its relevance in

Competitive Advantage
 New marketing horizons

The Great Indian Market
An Opportunity for :
 Global, National, Regional and even Local

brands
 Premium and Economy brands together

Young Market
 Almost 65%of Indian market today comprise of
young customers
 550 million consumers being in the 15 plus age
group
 Plus 150 million below the poverty line
 Median age – 24 years
 More than age – a youthful attitude of a large group

of Indian population is relevant for marketers
2nd and may be 3rd innings market
Opening up of the Indian market to global brands
and Indian entrepreneurship created opportunities
for almost all individuals who were in the age group
of 45 plus and in some cases even 60 plus
Emergence of middle class

Estimated that by 2025 almost about 50% of the
Indian market will be the middle class market and
30% will be the rich market percent of despondent
household.
10% of the total number of households and aspirers

whose number decline from 38% in 2010 to 18%.
Urbanization
40% of total population by 2030 will be urban
Technology Dominance
 Internet connection on the increase-almost one
third of Indians have internet connections and
many more have access to internet.
 Number of smartphone users almost about 180

million
 Digital TV owners will increase to 364 million in 2016

Issues and Challenges in Marketing in India
 High Volatility in Market

 Diversity and Convergence
 Catering to the Affluent
 Poor Markets Also Need Marketing
 Need for Innovation
Marketing as a Concept
Three dimensions:
1. Customer orientation
2. Competition orientation
3. Ability to respond to environmental changes

Marketing Orientation and How Can it be
Employed in Organizations
 Consumer Orientation
 Integrated Approach to Exploiting Market

Opportunities
 Futuristic Approach
 Highly Developed Marketing Systems
 Marketing Culture
 Speed
Types of Orientation Prevalent in Organizations
Marketing Orientation vis-à-vis Selling Orientation

Marketing Orientation Vs Other Orientation
Relationship Marketing
Inverting Organisation al Pyramid for Customer Retention

Focus on Internal Customer
Market Driven Organisation
Characterized by:
• Innovation
• Quality of products and services
• Global Competitiveness
• Customer centric product design
• Differentiated products
• Product perceived as good value for money
• Opportunity to customer to individualize the offer
MARKETING AS A `PROCESS’
Exchange transaction between the buyer and the seller

a. Marketing in an exchange process.
b. Both the buyer and the seller must gain.
c. It should result in a long term satisfying relationship
between both buyer
Metamarkets
The convergence of suppliers of all complementary
products and services that are closely related to a
product in the consumer’s mind.
Market Leaders Characteristics
• Understanding customer needs on an ongoing basis through a

continuous dialogue process, for which appropriate institutional
framework needs to be created.
• Differentiate on strong sustainable basis against competition and
thus making imitation difficult. This has to be through a combination
of product features and delivery and service processes.
• Customize the offer – let the customer individualise the offer.
• Integrate technology to deliver value for money to the customer.
• Tight control over quality, which must be benchmarked with the
world’s best.
• Create a model of scalability with world market in focus.
• Deliver what you promise.
• Expand the product range to meet the entire needs in the product
category.
Marketing as a Managerial Function
a. Understanding consumer needs
b. Environmental scanning and market opportunity
analysis
c. Development of a competitive marketing plan and
strategy such that an organization is able to satisfy
not only the consumer’s needs but also achieve its
own objectives
d. Implementation of the marketing plan and
development of tactical plans to overcome
problems at the marketplace
e. Development of control mechanisms
Purpose of Marketing
The Marketing Mix
Cause Marketing
Is the use of marketing skills to effect social changes

which benefit the individual and the society.

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Copyright © 2015 by McGraw Hill Education (India) Private Limited

Copyright © 2015 by McGraw Hill Education (India) Private Limited

 New marketing concepts and the significance of social

 Differentiation between types of orientations prevalent in

 Evolution of the contemporary marketing process;

 the purpose of marketing

 Concept of Marketing Mix and its relevance in

 New marketing horizons

 Global, National, Regional and even Local

 Premium and Economy brands together

 More than age – a youthful attitude of a large group

Emergence of middle class

10% of the total number of households and aspirers

 Number of smartphone users almost about 180

 Digital TV owners will increase to 364 million in 2016

 High Volatility in Market

3. Ability to respond to environmental changes

 Integrated Approach to Exploiting Market

 Highly Developed Marketing Systems

Marketing Orientation vis-à-vis Selling Orientation

Inverting Organisation al Pyramid for Customer Retention

Exchange transaction between the buyer and the seller

• Understanding customer needs on an ongoing basis through a

Is the use of marketing skills to effect social changes

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