We have said Marketing is the delivery of a total offer to the consumer in such a manner that.
The offer fulfils the needs of the consumer.
Terms and attributes of the offer are acceptable
All the organisational goals including profits are achieved in the process.
Marketing Mix How does a firm make such offer to the consumer. 1.A product that would meet the identified needs of the chosen consumer group. 2. Performs distribution / placement functions like transportation, warehousing channel management etc.
3. Carries out a number of promotion measure like personal selling, advertising, sales promotional programmes with a view to communicating with the consumer. 4.The pricing mechanism to achieve consummation of the marketing process. Four elements – Products, Pricing, Placement and Promotion constitute MARKETING MIX.
Last two decades have seen massive growth in the industry and services sector.
In 90’s spectacular growth after liberalization
One of the fastest growing economies of the world
c. Agricultural Scene Predominance is there. Dependence has reduced 2 / 3 rd population dependent directly/indirectly on agriculture. Rural markets development at a faster rate. Impressive achievements. Self dependent. Rare foodgrain imports. Main cause of development of other sectors.
d. Industrial scene Contribution to GDP growth increasing More than this, there are qualitative change Rapid foreign investment and competition from multinational companies.
e. Social scenario: The middle class explosion Estimate of 25 crores in size Rapid industrial growth seen emergence of professionals in many spheres. Target group for most of the companies.
Social scenario: The middle class explosion Emerged as the consumption community of the country. Better education, higher aspirations. Consumption of non –food items on the increase Joint families giving in. Concept of nuclear families. Higher disposable incomes. Demand for lifestyle products is on the rise.
f. Rural marketing scenario Shown impressive growth-television, mobile penetration. Earthenware yielded place to a variety of new kitchenware. Becoming increasingly urbanized.