BUSINESS STUDIES GRADE 11

UNIT 3
MARKETING FUNCTION
MARKETING FUNCTION
UNIT FOUR
25 MARCH 2014
Contents


Understanding marketing function



Features of marketing function



Characteristics of marketing function
...
WHAT IS MARKETING FUNCTION?
UNDERSTANDING MARKETING


MARKETING CAN BE DESCRIBED IN VARIOUS WAYS.



IT COULLD BE UNDERSTOOD NOT IN OLD SENSE OF MAK...
CONTINUES…………



PRODUCING A GOOD OR SERVICE CAPABLE OF SATISFYING THE
TARGETED CUSTOMERS, AND PROMOTING, PRICING, AND DI...
FEATURES OF MARKETING FUNCTION

1.

OPERATIONAL

10.

BUYING

2.

CUSTOMER ORIENTED

11.

DISTRIBUTING

OVERALL BUSINESS P...
CHARECTERISTICS………..
CHARECTERISTICS OF MARKETING FUNCTION








Setting and communicating the value of products
and services. E.g. price...
Continues……..


Obtaining, managing and using information
about what consumers want to improve entity
decision making act...
MARKETING PROCESS
SIX STEPS OF MARKETING PROCESS

STEP 1…DEVELOP MARKETING STRATEGY

STEP 2…CREATE AND MAINTAIN POWERFUL WEBSITE
STEP 3…GENE...
MARKETING MIX
ANALYZING MARKETING-MIX

THE 4 P‟S IN THE MARKETING-MIX
 The

marketing mix is the set of controllable
variables that the firm can use to influenc...
PRODUCT


Refers to the goods and services offered to
customers



Product can be subdivided into quality levels,
specia...
PRICE


Price refers to the amount charged for the
offered product or services. The right product
should be offered at ri...
PROMOTION


Promotion refers to advertising and selling part of
marketing i.e. informing potential customers of the
avail...
PLACE


Place refers to distribution channels used to get your
product to your customers.



Place make the product phys...
INTERGRATED MARKETING


Integrated marketing, the marketer‟s task is to devise marketing
activities and assemble marketin...
TOOLS AND BENEFITS OF MARKETING FUNCTION
BENEFITS AND TOOLS……….


EFFECTIVE LEARNING TOOL



EASY TO SHARE



BRAND VISIBILITY



ENHANCES TRAFFIC



VIRAL MA...
IMPORTANCE OF MARKETING


IT HELPS THE ORGANIZATION IN PLANNING



IT ESTABLISH BALANCE IN DEMAND AND SUPPLY



IT HELP...
MARKETING PLANS AND STRATEGIES
STRATEGY
FINALLY
 Marketing

is a social and managerial
process by which individuals and groups
obtain what they need and want thr...
REFERENCES


1. Kotler Philip & Keller Kevin, Marketing Management, Pearson Education,
India



Kotler Philip, Keller Ke...
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Marketing function

  1. 1. BUSINESS STUDIES GRADE 11 UNIT 3 MARKETING FUNCTION
  2. 2. MARKETING FUNCTION UNIT FOUR 25 MARCH 2014
  3. 3. Contents  Understanding marketing function  Features of marketing function  Characteristics of marketing function  Marketing process  Marketing-mix  Integrated marketing  Tools and benefits of marketing function  Marketing plans and strategies
  4. 4. WHAT IS MARKETING FUNCTION?
  5. 5. UNDERSTANDING MARKETING  MARKETING CAN BE DESCRIBED IN VARIOUS WAYS.  IT COULLD BE UNDERSTOOD NOT IN OLD SENSE OF MAKING A SALE„SELLING‟, BUT IN THE NEW SENSE OF SATISFYING CUSTOMERS. (ANTHARJANAM:2012)  MARKETING FUNCTION REFERS TO THE SET OF PROCESSES FOR MAKING, COMMUNICATING AND TO GIVE VALUE TO BUYERS AND FOR MANAGING CUSTOMERS RALATIONSHIPS IN WAYS THAT BENEFIT ORGANIZATION AND ITS STAKEHOLDERS.  IT BEGINS WITH DISCOVERING UNMET CUSTOMERS AND CONTINUES WITH RESEACHING THE POTENTIAL MARKET.
  6. 6. CONTINUES…………  PRODUCING A GOOD OR SERVICE CAPABLE OF SATISFYING THE TARGETED CUSTOMERS, AND PROMOTING, PRICING, AND DISTRIBUTING THAT GOODS AND SERVICES.  MARKETING IS IDENTIFYING AND MEETING HUMAN AND SOCIAL NEEDS. IN SHORT, MARKETING IS “MEETING NEEDS PROFITABLY.”(SHIVENDU MISHRA: 2009).  IT THEN REFERS TO THE IDENTIFICATION, SELECTION AND DEVELOPMENT OF A PRODUCT, THE DERTEMINATION OF THE PRICE, CHANEL TO REACH CUSTOMERS PLACE AND THE DEVELOPMENT AND THE IMPLEMENTATION OF PROMOTIONAL STRATEGY.
  7. 7. FEATURES OF MARKETING FUNCTION 1. OPERATIONAL 10. BUYING 2. CUSTOMER ORIENTED 11. DISTRIBUTING OVERALL BUSINESS PHILOSOPHY 12. PRODUCT DEVELOPMENT AND MANAGEMENT 4. LONG TERM SURVIVAL 13. RISK BEARING 5. MUTUAL BENEFITS 14. FINANCING 6. BUSINESS OBJECTIVE 15. AFTER SALE SERVICE 7. PRICING 16. STANDARDIZATION AND GRADING 8. PROMOTING 3. 9. RESEACHING
  8. 8. CHARECTERISTICS………..
  9. 9. CHARECTERISTICS OF MARKETING FUNCTION     Setting and communicating the value of products and services. E.g. price setting at right level Designing, developing, maintaining, improving and acquiring products and services that meet consumer needs. Determine the quality manners for consumers to locate and use services and products of the entity. They care for organization’s budgeting, provision of financial assistance to customers
  10. 10. Continues……..  Obtaining, managing and using information about what consumers want to improve entity decision making activities, and determining what will sell.  Clear communication with the buyers about goods and services to achieve desire results.  Good communication with the customers determine and satisfy their needs
  11. 11. MARKETING PROCESS
  12. 12. SIX STEPS OF MARKETING PROCESS STEP 1…DEVELOP MARKETING STRATEGY STEP 2…CREATE AND MAINTAIN POWERFUL WEBSITE STEP 3…GENERATE MORE TRAFFIC STEP 4…CONVERT TRAFFIC TO LEADS STEP 5…CONVERT LEADS INTO SALES STEP 6…MEASURE EVERYTHING
  13. 13. MARKETING MIX
  14. 14. ANALYZING MARKETING-MIX 
  15. 15. THE 4 P‟S IN THE MARKETING-MIX  The marketing mix is the set of controllable variables that the firm can use to influence the customer‟s response  The marketing mix and 4 Ps of marketing are used as synonyms for each other. In fact they not necessarily the same things.
  16. 16. PRODUCT  Refers to the goods and services offered to customers  Product can be subdivided into quality levels, special features, styling, branding. Product range or mix. Service back-up, warranty/ durability packaging.  Combination of above used for product. E.g. low quality product backed by a high service element.
  17. 17. PRICE  Price refers to the amount charged for the offered product or services. The right product should be offered at right place.  Price is a mechanism of exchange between firm and customer. It incorporates credit terms, discounts, margins, resources and financial services.
  18. 18. PROMOTION  Promotion refers to advertising and selling part of marketing i.e. informing potential customers of the availability of the product, its price and place.  Promotion includes two broad areas of advertising and personal selling. Advertising – media/display/classified Merchandizing – promotional support for the retailer Personal selling – salesman is special discounts Publicity – press and public relations    
  19. 19. PLACE  Place refers to distribution channels used to get your product to your customers.  Place make the product physically available. It includes distribution channel, outlet, warehouse, factory location, coverage stocks and freight.  The essence of managing the marketing mix lies in providing each group of customers with the mix of product, price, place and promotion which suits their needs.
  20. 20. INTERGRATED MARKETING  Integrated marketing, the marketer‟s task is to devise marketing activities and assemble marketing programs that maximize the ability to create, communicate, and deliver the value of customers.  McCarthy said the marketing mix tools in terms of four Ps. Such as Product, Price, Place, and Promotion.  Marketing mix decisions must be made for influencing the trade channels as well as the final customers.  Marketing mix is a set of controllable tactical and represents the seller’s view of marketing tools like product, price, place, and promotion that the firm blends to produce the response it wants in the target market.
  21. 21. TOOLS AND BENEFITS OF MARKETING FUNCTION
  22. 22. BENEFITS AND TOOLS……….  EFFECTIVE LEARNING TOOL  EASY TO SHARE  BRAND VISIBILITY  ENHANCES TRAFFIC  VIRAL MARKETING TOOL  HIGHLY EFFECTIVE FO SEO
  23. 23. IMPORTANCE OF MARKETING  IT HELPS THE ORGANIZATION IN PLANNING  IT ESTABLISH BALANCE IN DEMAND AND SUPPLY  IT HELPS TO ESTABLISH A COMMUNICATION SYTEM BETWEEN THE PRODUCER AND THE CONSUMER  IT ENSURING THE MAXIMUM PRODUCTION AT MINIMUM COST  MAKES GOODS AVAILABLE TO BUYERS AT COMPETITIVE PRICES  IMPROVE STANDARD OF LIVING  ECONOMIC DEVELOPMENT OF THE COUNRTY
  24. 24. MARKETING PLANS AND STRATEGIES
  25. 25. STRATEGY
  26. 26. FINALLY  Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.
  27. 27. REFERENCES  1. Kotler Philip & Keller Kevin, Marketing Management, Pearson Education, India  Kotler Philip, Keller Kevin, Koshy Abraham & Jha Mithileshwar Marketing Management – A South Asian Perspective, Pearson Education  http://quizlet.com/545303/7-functions-of-marketing-flash-cards/  http://unbounce.com/online-marketing/inbound-marketing-process/  file:///C:/Users/General/Downloads/marketingmangment-140225045346phpapp02.pdf  http://www.slideshare.net/DevikaAntharjanam/abhinv-kumar?qid=40342f482566-4aa7-8b87-18f45b6e2937&v=default&b=&from_search=2
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