2. • Market is a place where buyers and sellers meet
• Marketing is an activity or set of activities to promote a
product or service
• Marketer is involved with sales and payback, as well as
production and distribution
• A marketer is directly involved with a product or service
since it impacts their buyer’s (customer’s) decision
making
• In marketing, not all marketing strategies are effective
in all areas of the world
3. Market
• The market actually refers to a set up where potential
buyers and sellers can meet to exchange goods
or services. It is basically a medium that facilitates
these transactions in an economy. It allows for the
exchange of goods, services, information under
the protection of the law and generally in exchange for
consideration.
4. • Marketing is a very wide term. It includes all the activities
involved right from the production of the goods, until their
consumption. Every activity in between, like designing,
pricing, promotion, distribution, transportation,
warehousing etc are activities of marketing.
• Marketing is often taken to be a post-production activity,
which is incorrect. Some activities of marketing start even
before the production begins. One of its main aims is to
satisfy customer needs, which requires understanding of
these needs. And the product design will follow the leads
of this study.
5. • In modern terms, economists such as Philip Kotler have
termed marketing as a “social process”. Here the wants
and needs of the consumer are heard, and accordingly,
products and services are offered to them. People
interact with each other to exchange goods and
services they require in exchange for money. There is
no force or coercion, people will choose these
products.
6. Who is a Marketer?
• A marketer is a person who promotes an organization’s
products and services. They figure out the strategies
that can boost sales and revenue while ensuring these
strategies are aligned with the needs of the customers
as well as the market demand. Now that we know who
a marketer is, let us look at the purpose of a marketer.
7. Approaches to the Study of Marketing (4
Approaches)
• There are four different approaches to the study of
marketing. These approaches explain clearly the
mechanism and concept of marketing. These
approaches are Commodity Approach, Institutional
Approach, Functional Approach and Decision Making
Approach.
8. Commodity Approach or Product Approach:
• This approach refers to the study of a product in detail. The
marketing situation of each product chosen for study is examined
from such viewpoints as sources and conditions of supply,
producer marketing organisations, policies, different middlemen
(wholesaler’s 6f retailers etc.) who take part in distributing the
product.
• Problems with regard to a particular product are studied in detail
under this approach. Products of any nature e.g. agricultural
products wheat, rice, maize, etc., industrial products like machine
tools, lathe-machines, generators, oil engines, etc., and any other
products can be covered under this study. In practice, this
approach tends to be repetitive and time consuming.
9. Institutional Approach:
• This approach relates to various marketing institutions viz.,
wholesalers, retailers etc., engaged in marketing. In applying this
approach, a thorough study with regard to a particular middleman is
undertaken. For example, in retailing, nature and significance of
retailing in terms of functions and services performed and rendered by
retail institutions like departmental stores, multiple shops, mail order
houses etc.
• Besides wholesalers and retailers, other marketing institutions can be
stock exchanges, produce exchanges, banks, regulated markets, etc. In
short, it can be said that this approach is applicable on various types of
marketing intermediaries.
10. Functional Approach:
• As the very name suggests this approach comprises of the
study of various activities or functions performed in the
process of marketing of goods and services. It analyses
each function in relation to the importance of its
performance.
• Various marketing functions are buying, selling, financing,
transportation, banking, risk bearing, market information
etc. By analysing and studying every function in detail and
problems confronted in the performance of each function,
it is possible to understand marketing properly.
11. The Decision Making Approach:
• This approach is of vital importance from the viewpoint of
marketing management. Various decisions are taken at every level
of management. In successful marketing, decision making occupies
an important place. The marketing manager should be very expert
and competent in his job so that he takes proper decisions for
marketing the goods and services.
• The decision is based on two variables which can be classified as
‘uncontrollable’ and ‘controllable’. Uncontrollable’ variables relate
to economic, sociological, psychological and political forces which
are the basic causes of market changes. On the other hand,
‘controllable’ variables are within the control of the organisation.
12. Different Concepts in Marketing
• Selling concept
• Marketing concept
• Social marketing concept
13. The selling concept
• The selling concept is based on the premise that the
customers won’t buy goods/services of your brand
unless you perform sales and promotional activities at
a large scale. Therefore, businesses and companies
should carry out promotional and marketing activities
to accelerate their product in the market. Customers
have inner needs and your job is to convert their inner
needs into buying your product through motivation and
persuasion
14. • The selling concept is very useful for selling unsought goods i.e.
insurance.
• Where you find your target segment of the market first, and
then you persuade them by explaining the benefits of the
product.
• The final goal is to sell many products, to increase the net
profit.
• The selling concept focuses on the increase of sales whether
the customer needs it or not.
• It also means that you want to increase the transaction of sales,
instead of building a relationship with him.
• It’s based on the assumption that the customers would like the
product if you convince them well.
• The customers would forget their buying experience even if
they don’t like the product.
15. Selling Concept
Some of the main characteristics of the selling concept are as follows;
• It focuses on the needs of the inner of businesses and companies.
• Goods and services define their business in the selling concept.
• It focuses on everyone, whether they’re kids or adults, as long as they
can buy goods and services.
• As the sale of your business increases, the profitability would increase.
• If the business environment is competitive, then this marketing
concept would be less favorable.
• The concept is applicable where you price your product based on the
cost. They are short term oriented.
• Encyclopedia, door to door selling, insurance, and online shopping are
some of the main examples
16. Disadvantages of Selling Concept
• Ignore Customer Needs
• Ignore Customer Feedback and Reviews
• Short-term Focus
17. Advantages of Selling Concept
• Increase in Sales
• Focus on Sales and Marketing
• No Unsold Stock Issues
18. What are the Marketing Concepts?
• The marketing concept is a process when a company plans
and implements to maximize profit by increasing sales,
satisfying customer’s needs and beating competitors.
• The purpose is to create a situation that benefits both
parties; customer and the company.
• The idea of the marketing concept is to anticipate and
satisfy the needs and wants of customers better than the
competitors.
• The marketing concepts were originally derived from the
book of Adam Smith, Wealth of Nation.
• It remained unknown to the world until the 21st century.
19. To fully understand the marketing concept, first, we have to
understand needs, wants, and demands;
• Needs – it is something necessary for the existence of life,
many adverse things can happen without it. The worst-case
scenario would be death. Needs comprises of many things;
like food, shelter, security, social belonging, self-
development, self-esteem, and respect.
• Wants – wants are our wishes and desires that what we
want in life, our social setup and culture shape our wants.
• Demands – when our wishes, needs, and wants are backed
by our capability to pay, then they become demands.
20. Marketing Concept
Some of the main characteristics of the marketing Concept are as follows:
• The focus is on the needs and wants of customers.
• The benefits of your products/services would define your business.
• Instead of focusing on everyone, the marketing concept focuses only on a
specific segment of the market.
• Your business would profitable if your products have satisfied the needs and
want of customers.
• If the business environment is competitive, then you should follow the
marketing concept because it would be favourable in such an environment.
• This concept follows the integrated approach. Where the customer is the
boss, and he would define the price, and the price would define cost. They
keep in mind long term planning.
• Automobiles, Dell Computers, and designer clothes are some of the main
examples of the marketing concept
21. Marketing Concept
• The marketing concept is customer-oriented.
• It puts customers in the middle of the marketing process,
finding out customers’ needs and wants, then satisfying
those needs better than the competitors.
• In this approach, the marketer says that the customer is
always right and his needs and wants should come first.
• Here the marketing strategy focuses on making a profit by
meeting the needs and wants of customers
22. MARKETING CONCEPT ADVANTAGES:
Creates jobs:
• Marketing concept helps businesses and companies to
amplify their growth, create their demands in the market,
and attract new customers.
• When companies start growing and producing more
products and services, then they would workforce to finish
the work on time and meet the demands of customers.
• Ultimately, the marketing concept creates employment
opportunities and puts everyone to work
23. ACCEPTING CUSTOMERS
• The welfare of society depends on the welfare and
prosperity of its citizens.
• When customers are doing well, then it means that the
whole society is doing fine.
• A company has to make sure that it is prioritizing the
needs and wishes of customers outside of its service
domain by improving the efficiency of its production and
operational processes.
24. FOLLOWS SCIENTIFIC RESEARCH
• The focus of businesses and companies is to find creative
ways to meet the needs of the customer with the
efficiency of supplies and resources, and that is good for
customers and society.
• In order to achieve their goal, they employ scientific
methods and approaches to come up with new ideas and
innovative ways of developing the product or service.
25. HIGHER PRODUCTION QUALITY
• Marketers conduct thorough customer market research
to determine the needs and wishes of customers and
what they actually want.
• After knowing their demands, they improve their
production and operational processes to meet the
demands and wishes of customers.
• Ultimately, it improves the quality of the product or
service
26. • BRAND RECOGNITION
• HIGHER BUSINESS PROFIT
• BUSINESS PROMOTION
• GOOD FOR SOCIETY
• HEALTHY COMPETITION
27. MARKETING CONCEPT DISADVANTAGES
EXPENSIVE
• Customer market research, marketing department, promotional
campaigns, and advertisement are highly expensive. The marketing
budget doesn’t add any extra value to the product, rather it increases
the retail price of the product or service, and customers have to pay
for it.
REQUIRES TIME
• Marketing research, collecting data, product design, writing, and
publishing content are highly time-consuming activities. They need a
high level of tech expertise, an ordinary person with limited tech
knowledge can’t do this job effectively.
28. DRIP MARKETING
• Marketing activities start before the production of the product
and keep on going until the sales of the last product item. In
other words, it requires consistent effort and a lot of investment,
and there is no guarantee of a payoff; it may or may not.
UNSATISFIED CUSTOMERS
• The goal of every business or company is to satisfy its needs and
wishes. But you can’t make everyone happy, it is the common
rule of thumb. There will always be a group of customers that
won’t be happy and satisfied with your product quality, design,
or name.
29. What is Societal Marketing Concept?
• The purpose of the societal marketing concept is also to satisfy
the needs and requirements of customers before making any
profit.
• But the emphasis of this concept is to make the company fulfill
social responsibilities for a sustainable future in the long term.
• The marketing strategy of businesses and companies should
include both customers and society as well.
• The idea of the societal marketing concept is that the
businesses should satisfy the needs and wants of customers,
but this target should be aligned with the long term interest of
society
30. • But there’s a difference between social media marketing and
societal marketing concepts, and they aren’t the same concept.
• This marketing concept aims to present a good image of the
company to increase sales while focusing on the social
responsibilities of the company at the same time.
• The world we live in today is facing many challenges like global
warming causing glaciers to melt and increase the sea level.
• Therefore, businesses should also take societal and environmental
responsibility, while satisfying customers’ needs of customers
• The purpose is to achieve a sustainable future in the long term for
our upcoming future generations.
• Now, businesses are coming to realize this societal marketing
concept. Some are fully committed to it, and the others are partial.
31. What are the Roles and Responsibilities of a Marketing Manager
• A marketing manager would undertake market
research, understand the trends and customer
preferences, create marketing strategy and budgets,
oversee the creation of marketing materials and
content, and perform all other relevant tasks essential
for increasing the business’s sales.
32. • a marketing manager is a person who takes care of the
entire marketing lifecycle. The marketing manager’s job
description starts from planning and executing the
campaign to analysing the ROI and tracking the budget.
• Depending on the size of the enterprise, there could be
one marketing manager for the entire department or
one single segment such as social media marketing,
outdoor marketing, email marketing and so on.
33. • There are a number of marketing manager responsibilities
which include:
• Strategy development and planning of campaigns that can
promote the business and generate genuine traffic (both
offline and online)
• Implementation of the marketing campaigns right from
ideation to final analysis and refinement
• Creating engaging and informative content for the website,
blog, social media, and any other content marketing channels
that the business might leverage
• Building sustainable relationships and partnerships with other
key players such as vendors, advertising agencies, and
creative artists as per the need
34. • Further, the marketing manager would also need to be
well versed with different types of organic as well as
paid marketing channels such as content marketing,
PPC advertising, Search Engine Optimisation, Search
Engine Marketing, Outdoor Marketing, Social Media
Advertising, email campaigns, lead generation
initiatives, website design and landing page
enhancement, copywriting, and comprehensive
performance analytics of the marketing campaigns.
35. There are some steps that will help you prepare for
marketing manager roles. These include:
• Profile creation –Since a marketing manager’s
responsibilities include taking care of multiple functions
and leading teams, you must create a profile that
showcases various skills and achievements such as
content pieces created by you, SEO knowledge and other
campaign results.
• Certifications – As we mentioned, a marketing
certification from a reputed institution can add
tremendous value to your candidature. You can join an e-
learning platform and get certified after
completing marketing management courses online.
36. • Interact with the leaders – You can discuss marketing
trends and practices and get insights from such discussions,
whether with the marketing leaders within your
organisation, on social media, or in webinars. Even reading
books by business and marketing leaders can help you
prepare for marketing manager roles.
• Gain marketing experience –There is nothing that prepares
you better than experience. Before aiming for marketing
manager roles, it is important to spend a few years as an
intern or a marketing executive to understand better the
various marketing manager roles and responsibilities that
you would have to handle in future.
37. Marketing Manager Career Path
• Marketing Manager
• Senior Manager Marketing
• Marketing Manager specialisations such as digital
marketing manager, content marketing manager and so on
• Marketing group manager
• VP of Marketing
• Director Marketing
• Chief Marketing Officer (CMO)
38. IMPORTANCE OF MARKETING IN BUSINESS
• Marketing is a strategy that businesses do to advertise their
businesses. Every business entity needs to understand such
a strategy and how to employ it. Business sectors have
been using marketing strategies. They even hire people
knowledgeable in marketing to help them sell their
products. On that note, how important marketing in
business?
39. MARKETING AND ITS IMPORTANCE TO BUSINESS
There are many important things marketing can do for
different business sectors. That is why many business
establishments adopt many marketing strategies. Give
yourself time to know the importance of marketing to your
business.
• Marketing helps to boost the sales
Marketing is one way to give information to consumers. This
way, consumers will have a basic idea of what is your
product all about. They will also know the benefits of
buying your products. Marketing educates many people
about a certain product. When people are well-informed
about your product, your sales will increase.
40. • Marketing creates revenue options
• Marketing is a great help for many business establishments to create
revenue options. It is when business sectors use different marketing
strategies to increase business profits. One way to increase the profit is to
reduce the product costs. This way many customers will buy the product.
• Reducing the product costs will increase the number of potential buyers,
thus getting more sales. It is better to gain smaller profits but consistent
sales. Another way to increase the revenue is to run media advertisements
and promotions. It is the easiest way to make people know about your
products.
• Set better goals for your business
• The success of a business depends on its goals and objectives. Marketing
can help a business set its goals. By practicing some marketing strategies it
will lead to the popularity of their brand. By this, it will motivate the
company to maintain its reputation. They will now set clear goals and
objectives for their employees to know their targets. These goals will also
reach their consumers.
41. • Build a Reputation for your Brand
Another benefit of implementing marketing strategies is to build
a reputation for your brand. But it is essential to ensure you
are giving outstanding quality and useful products to your
target market. This way, you won’t only build an excellent
reputation for your product, but also your brand.
• Improves Decision-Making
When a company hires a market specialist, they will do
everything to boost the sales of your products by making
appropriate marketing actions. The first thing to consider in
doing these activities is knowing your audience. When the
company has known fully their audience, this will help them
decide what lines and details they will create in convincing
people to buy their products.
42. Types of Marketing
• B2B Marketing
B2B Marketing is the term used for business-to-business
transactions. They used this type of marketing strategy
when a company sells goods or any other services to an
organization.
• B2C Marketing
B2C Marketing is another term for Business-to-consumer
marketing. This is done when an organization sells its
products to people. B2C marketing promotes the business
through advertisements.
43. • C2B Marketing
We also know C2B Marketing as Consumer-to-Business Marketing. It is
the opposite of B2C Marketing. It is a marketing strategy when
consumers give goods or services to a company.
• C2C Marketing
C2C Marketing or consumer-to-consumer marketing is a strategy in
which the consumers can have an interaction with their co-
consumers. It happens when they share a common product or
service. This business model enables a customer to transact business
with another customer. A good example of C2C marketing is OfferUp
and let go apps.
The main objective of C2C is to establish good relationships by helping
sellers and buyers. By this, it would be easier for the customers to
find products at the same time benefit from it.
45. • What Is Nonprofit Marketing?
• Nonprofit marketing refers to activities and strategies
that spread the message of the organization, as well as
solicit donations and call for volunteers. Non profit
marketing involves the creation of logos, slogans, and
copy, as well as the development of a media campaign to
expose the organization to an outside audience. The goal
of nonprofit marketing is to promote the organization's
ideals and causes to get the attention of potential
volunteers and donors.
46. • Important points:
• Nonprofit marketing refers to the tactics and strategies
nonprofit organizations use to raise donations and spread their
message.
• Nonprofit marketing includes a wide range of activities, such as
direct mail marketing, mobile marketing, content marketing,
and social media marketing.
• A point-of-sale campaign relies on asking for a donation at the
same time the potential donor is making a purchase.
• In a message-focused campaign, the nonprofit ties its
fundraising efforts to a high-profile current event that has
already captured the public's attention.
• In a transactional campaign, the nonprofit organization
partners with a corporate sponsor to encourage consumers to
use their purchases to assist in funding the nonprofit's mission.
47. • Types of Nonprofit Marketing
• Nonprofit marketing can take many forms. These
campaign types may have similar goals—to raise money,
awareness, and volunteer participation—but their
methods can vary significantly. Below are a few types of
nonprofit marketing campaigns.
• Point-of-Sale Campaign
• A point-of-sale campaign relies on adding the donation
request to a purchase the potential donor is already
making. For example, donors may be asked to add a
donation to their purchase at a cash register in a physical
store or online during the checkout process.
48. • Message-Focused Campaign
• A message-focused strategy encourages behavioral change or
consumer action or drives awareness. These campaigns are frequently
tied to high-profile current events that are already trending and being
reported widely in the media. The messages are generally combined
with fundraising and volunteer participation efforts.
• Transactional Campaign
• In transactional campaigns, consumer action (such as a purchase or
response to a social media post) is spurred by a corporate donation.
The nonprofit organization partners with a corporate donor to
encourage consumers to use their purchases to help fund the
nonprofit's charitable efforts. The corporate donor also benefits from
the positive publicity and from the ability to align themselves with a
charity that reflects its corporate values.
49. Recent Trends in Marketing
• The market scenario in the world today is changing very rapidly.
• The boundaries of nations are disappearing for exploiting the
opportunities of business.
• Today’s customers are global and exhibit international
characteristics.
• Because of developments of information technology, rapid
means of transportation, liberalization, and mobility of people
across the world, their buying habits are fast varying and so are
the fortunes of various organisations.
• In the Globalised business environment, the marketer must
move goods faster and quicker to satisfy the consumers’ needs
and wants by serving the best quality goods and services.
50. • Therefore marketers are shifting from transaction thinking to
relationship building and also focusing on life long customers.
• So, marketer has given more emphasis on the notion, “offer
more for less” and adopt different strategies to satisfy the
consumers.
• It is possible to carry out all the business transactions over an
electronic network, primarily through the internet.
• The number of internet users is increasing very rapidly.
• They use a variety of tools like computers, laptops, tablet and
smart or android phone devices to access different websites.
• Besides the social media networks have opened new avenues
of interacting with customers.
52. • It is well known that business is a branch of commerce.
It looks after the distribution aspect of the business
and also is concerned with the exchange of goods and
services. If all activities, which directly or indirectly
facilitate that exchange of goods done through internet
and other online environments is known as Electronic
Commerce (EC) or simply as E-Commerce.
54. • The regular production or purchase and sale of goods
undertaken with an objective of earning profit and
acquiring wealth through the satisfaction of human
wants is known as business. Electronic business (e-
business) via, web, internet, intranets, extranets or
some combination thereof to conduct business. In
simple words, if all the business transaction carried out
through internet and other online tools is called E-
business
55. (iii ) E-Commerce Vs E-Business
• E-commerce simply refers to the buying and selling of
products and services through online but E-business
goes a way beyond the simple buying and selling, of
goods and service and much wider range of business
processes, such as supply chain management, electronic
order processing and customer relationship
management. E-Commerce and E-Business is used
interchangeably in its broader meaning just as
commerce and business.
57. • Electronic Marketing or E-Marketing is the process of
marketing of products and services over internet and
telecommunication networks. In simple terms, marketing
strategies and techniques which are utilised to access
target customers through online mode are referred to E-
marketing. E-marketing includes use of internet for all the
activities of advertising, promotion publicity, channel of
distribution, marketing research to find out customers’
needs and wants. Electronic marketing is interchangeably
used to mean online marketing, web marketing, internet
marketing and digital marketing.
58. • “E-Marketing is achieving marketing objectives through
use of digital technologies like Internet, word wide web,
email, wireless media, and management of digital
customer data and electronic customer management
systems (E-CRM)”
• (ii) Objectives of E-Marketing
• The following are the objectives of E-Marketing
• 1. Expansion of market share
• 2. Reduction of distribution and promotional expenses.
• 3. Achieving higher brand awareness.
• 4. Strengthening database.
59.
60. • What Is Electronic Business (E-Business)?
Electronic business (E-business), refers to the conduct of business
activities using the internet and other electronic means. Its
purpose is to facilitate and streamline business processes. In
addition, it aims to leverage technology to increase efficiency,
expand market reach, and enhance the customer experience in
the digital age.
E-business empowers customers to shop and purchase products
or services seamlessly, anytime, and from anywhere. It
liberates businesses from the constraints of physical
storefronts while reducing marketing and customer acquisition
costs. Furthermore, e-business fosters agility and
responsiveness to changing market dynamics enabling
businesses to outpace their competitors in today’s dynamic
market landscape
61. Importance:
• Electronic business refers to using the Internet to conduct
business activities such as purchasing and selling goods and
services, advertising, and communicating with customers.
• E-commerce is a subset of e-business since it focuses on
exchanging goods and services between businesses and
consumers.
• E-business involves using technology to automate internal
corporate processes and interactions with customers,
suppliers, and partners.
• It eliminates the need for physical shops, lowers the expense
of marketing, and allows customers to shop and buy goods or
services whenever they want, from anywhere.
62. Types:
• B2C (Business-to-Consumer): A B2C e-business sells products
or services directly to consumers through its website or mobile
app. Examples include Amazon, eBay, and Uber.
• B2B (Business-to-Business): A B2B e-business sells products or
services to other businesses. Examples include Alibaba,
ThomasNet, and Salesforce.
• C2C (Consumer-to-Consumer): A C2C e-business allows
consumers to buy and sell goods and services directly to each
other. Examples include eBay, Etsy, and Airbnb.
• B2G (Business-to-Government): A B2G e-business sells
products or services to government agencies or departments.
Examples include Oracle, IBM, and Deloitte.
63. • C2B (Consumer-to-Business): A C2B e-business allows
consumers to provide products or services to businesses
through freelance or gig-based platforms like Fiverr and
Upwork.
• Mobile Commerce: Mobile commerce refers to buying and
selling products or services through mobile devices like
smartphones or tablets.
• Social Commerce: Social commerce refers to buying and selling
products or services through social media platforms like
Facebook Marketplace or Instagram Shopping.
• Marketplace: A marketplace platform brings buyers and sellers
worldwide, facilitating transactions and providing payment
processing and shipping services. Examples include Amazon,
eBay, and Etsy.
64. • Advantages
• Increased reach: E-businesses can easily reach a global
audience, expanding their market and customer base.
• 24/7 availability: E-businesses are available 24/7, allowing
customers to shop or interact with the business anytime.
• Reduced costs: E-businesses can reduce costs associated with
traditional brick-and-mortar operations, such as rent, utilities,
and staffing.
• Improved customer experience: E-businesses can use
technology to enhance the customer experience, such as
personalized recommendations and easy-to-use interfaces.
65. • Increased efficiency: E-businesses can automate many
processes, such as inventory management, accounting, and
customer service, improving efficiency and reducing the risk of
errors.
• Access to real-time data: E-businesses can use analytics tools
to track their performance and make data-driven decisions.
• Increased competitiveness: E-businesses can compete more
effectively against larger traditional businesses by leveraging
technology and offering unique, innovative products or
services.
• Flexibility: E-businesses can adapt quickly to changing market
conditions, customer needs, and technological advancements,
providing a competitive advantage.
66. • Increased efficiency: E-businesses can automate many
processes, such as inventory management, accounting, and
customer service, improving efficiency and reducing the risk of
errors.
• Access to real-time data: E-businesses can use analytics tools
to track their performance and make data-driven decisions.
• Increased competitiveness: E-businesses can compete more
effectively against larger traditional businesses by leveraging
technology and offering unique, innovative products or
services.
• Flexibility: E-businesses can adapt quickly to changing market
conditions, customer needs, and technological advancements,
providing a competitive advantage.
67. • What Is Telemarketing?
• Telemarketing is the direct marketing of goods or services
to potential customers over the telephone, internet, or fax.
Telemarketing may either be carried out by telemarketers
or increasingly by automated telephone calls or
"robocalls."
• The intrusive nature of telemarketing, as well as reports of
scams and fraud perpetrated over the telephone, has
spurred a growing backlash against this direct marketing
practice. Telemarketing may also be referred to as
"telesales" or "inside sales."
68. Importance:
• Telemarketing is the direct marketing of goods or services
to potential customers over the telephone or the internet.
• Four common kinds of telemarketing include outbound
calls, inbound calls, lead generation, and sales calls.
• Due to the intrusive nature of telemarketing, including
spam calls, many customers are against it.
• Countries such as the U.S. and Canada have federal "Do
Not Call" lists where individuals can register their phone
numbers to avoid telemarketing calls.
69. • How Telemarketing Works
• Telemarketing is the practice of contacting, vetting, and
approaching potential customers. It does not include the use
of direct mail marketing methods.
• Telemarketing may take place from a call center, an office, or,
increasingly, a home. Many times, telemarketing can involve a
single call to assess interest or suitability, and then follow-up
calls to pursue a sale. Various data may be used to narrow
down large databases of names to a small number of higher-
probability customer prospects.
• Telemarketing is used by for-profit businesses, nonprofit
charities, political groups and candidates, surveying, donation
solicitation, marketing research, and other kinds of
organizations.
70. • Types of Telemarketing Activities
The act of telemarketing can be divided into four subcategories
• Outbound: Companies actively reach out to customer
prospects and existing customers via outbound telemarketing
calls, also known as "cold" calls.
• Inbound: These telemarketing calls are based on inbound
inquiries about products or services as prompted by
advertising or sales efforts. These are considered "warm" calls
as customers will typically have submitted an interest form
online or already be familiar with the company.
• Lead generation: This is the collection of intelligence about the
profiles, interests, and demographic data of potential
customers.
• Sales: Telemarketers who are trained salespeople engage in
this persuasive activity. They aim to close a deal on the phone.
71. • M-business
• Mobile business (m-business) refers to new business
models enabled by the extensive deployment of key
mobile and wireless technologies and devices (for
example, Bluetooth, e-purses, smartphones, UMTS and
WAP), and by the inherent mobility of most people’s work
styles and lifestyles. The value proposition of m-business is
that the user can benefit from information or services any
time and in any place.
72. What is M-commerce?
• Mobile commerce or M-commerce refers to the business platform
where you can buy and sell products and services with the help of
your smartphones (wireless handheld devices). With the advances in
technology, smartphones and tablets are equipped with various new
features, and shopping software applications are among the most
popular features of them all.
• Different M-commerce categories serve different purposes. You have
mobile shopping, mobile banking, and mobile payments. The M-
commerce applications that use mobile shopping functionality allow
customers to view and purchase products from their mobile devices.
On the other hand, mobile banking allows you to make financial
transactions using handheld devices, such as smartphones. This type
of M-commerce transaction is carried out over a secure network, and
the banks provide dedicated apps for these transfers.
73. • Mobile business or m-business started in 1997 with the
installation of the first-ever mobile-phone enabled Coca Cola
vending machines in Helsinki, Finland. Firstly two machines
were set up that accepted payments via text messages.
• The key feature of using mobile business is the mobility it
provides to its user, who can access information from any place
with the help of smartphones or mobile devices.
• In the smartphone era, many companies like Amazon, Alibaba,
eBay have introduced mobile apps that allow users to run the
entire business electronically, including accepting payments,
issuing refunds, packaging, inventory and delivery of products.
In addition, it gives you a track of business with graphical and
statistical representations.
74. Advantages of M business
• 1. Mobility
With automated apps and tools just on your mobile, you are
ready to move along with your business anywhere. You can
access them anywhere with just a mobile internet or WiFi
network. With the applications, the whole business can be
monitored and controlled. Also, daily, weekly statistics can help
in planning future growth.
• 2. Online Presence
The whole idea in mobile business is to keep in mind the needs
of businesses and access them through a mobile device. When
the business is online, it has an online presence and can be
seen easily by anyone. The website can be searched online,
and the portfolio itself can help reach a large number of
customers.
75. 3. Global Reach is one of the key advantages of m business
• According to the study conducted in January 2021, there were 4.66
billion active internet users worldwide, making up 59.5 % of the
global population. A user spends an average of 145 minutes on social
media every day. A large number of users spend their large time
searching for online products and services. Even automated ads are
feeding a lot of new things online.
4. Highly automated services
• From Micro Business to Dating Apps, wow, with everything is
controlled with a mobile device. The whole process is completely
automated, where users can set the controls according to their
preferences.
• Uber and Ola use m Businesses tools to give users a friendly app
experience. Likewise, many businesses run using one or multiple
online services to offer the best services to the customer.
76. • 5. Ease of access
• Both the business and customers reap these advantages of
m business in an easy way of providing and accessing the
services. After finding the right platform for your business,
it is very easy to upload the business details, products, and
services.
• The clients can search for the right products and services,
post their reviews, and get deals and discounts from the
wide online market.
77. Disadvantages of M business
• 1. Technological Dependency
• One of the main disadvantages of m business is the
complete dependence on electronic equipment and the
internet. Lack of internet or phones makes it quite difficult
for m business to be conducted anywhere and
everywhere.
• Although internet services are available worldwide, the
whole concept of mobile business is based on connecting
online people to online businesses, which is impossible if
the customers don't have access to the technology.
78. • 2. Initial and Maintenance cost
• A mobile business needs to have an app or website to
operate seamlessly. You require an initial investment that
has to be made in advance before starting an online
business. Also, the tools with advanced features are paid
mostly.
• Thus, if you are looking to launch your m business through
mobile apps or other tools there are fixed monthly and
yearly cost which has to be born by the business even if
doesn't generate any revenue. For bigger businesses, cloud
storage for bulk information is a must which further adds
to cost.
79. • 3. Huge competition
• With big brands like Amazon, eBay in the market, there is a
little less scope for other businesses to enter the market.
Smaller businesses may not meet the marketing costs
incurred by bigger brands for selling their products and
services.
• Also, for every niche, there is a large number of people
selling different variety of products. With everything
running on search engines' algorithms, there is little you
can do to rank your products higher in any category.
Inability to make a strong presence in the market is one of
the dreaded disadvantages of m business.
80. 4. Privacy and Security
• With everything available online encrypted with security, there is a
huge chance of cybercriminals overpassing the security and breaching
your personal and financial information.
• With tools and technology, you might have to get proper security for
your business and save yourself from sharing your passwords and
other information online. Also, you need to aware of not sharing your
info with other people also.
5. Business Loss is one of the leading disadvantages of m business
• Since the whole business is based on electronics, a flaw in the
technology can lead to business failure. Furthermore, losing the device
can create further problems, especially when all the business-related
details reside on your device.
• In addition, while on the go, you can completely lose control of the
business, and any need for an update of information cannot be
rendered.
81. • Green Marketing
• Definition: Green Marketing is a relatively new concept,
which involves the promotion of products and services
which are safe for the environment. It involves
development, manufacturing, promotion, distribution,
consumption, and disposal of the products and services in
a sustainable fashion so that least damage is caused to
nature.
• In this way, the marketing of the company’s offering is done
on the basis of its environmental advantages. Activities
may include product adjustment, change in the process of
production, change in advertising and sustainable
packaging of products.
82. • The primary aim is to reduce the adverse effects of the
products and its consumption and disposal, on the
environment. This means that the products and services are
either eco-friendly or produced in an eco-friendly manner,
which does not harm the environment.
Objectives of Green Marketing
The objectives of green marketing are boiled down in the points
given below:
• To adhere to corporate social responsibility.
• To reduce expenses.
• To showcase how environment-friendly the company’s
offerings are.
• To communicate the brand message
• To implement sustainable and socially accountable business
practices.
83. • Example
• Whole Foods: An American supermarket chain, owned by
Amazon, known for selling organic products, which does
not contain hydrogenated fats, flavours, preservatives,
sweeteners, flavours and artificial colours.
• Starbucks: Starbucks is the largest coffeehouse chain in the
world with a presence in more than 70 countries. It
promotes sustainable practices to grow coffee.
• The Body Shop: A British cosmetic and skincare giant,
which offers products which are cruelty-free, and use
natural ingredients.
84. • What is Green Marketing Mix?
• Similar to traditional marketing, firms use green marketing
mix, to use the marketing variables and get the intended
response from the target audience. The four P’s of the
green marketing mix are
85. • Product: The products should be designed and developed in such a
manner that they use fewer resources and are pollution-free, plus they
do not contain any toxic substance, whose use can be harmful.
Moreover, the product must increase the conservation of scarce
resources.
• Price: In green marketing, price plays a prominent role, as the
customers are going to pay the additional price, only when there are
of the view that they will be getting the premium quality products, in
terms of design, performance, appeal, taste, or anything else.
• Promotion: Green advertising can be done in three ways, i.e. there can
be ads which display the connection amidst the product and the
environment, or ads which promote a green and organic lifestyle, or
ads that showcase a corporate image of environmental responsibility.
• Place: Place defines the availability of the products and so the
marketers should opt an ideal way to make such products available as
it will have a great impact on the customers.
86. • Green Marketing Practices
• It involves a wide spectrum of activities, to create an eco-
friendly image of the company, to its target audience, such
as:
• Using recycled and renewable material for production.
• Use of green energy to produce products, such as solar
energy, geothermal energy and wind energy.
• Reduce product packaging or use ecofriendly packaging.
• Not using toxic materials, which are harmful to the
environment.
• Making products which are reusable as well as recyclable.
88. • Consumer-Oriented Marketing: The notion says that the firm
should perceive the marketing activities from the consumer’s
viewpoint, so as to develop a lasting and profitable relationship
with them.
• Customer Value Marketing: As per this notion, the company
should allot its resources that add value to the product or
service they offer, rather than simply changing the product
packaging or making a huge investment on the advertisement.
this is because, when the value is added to the product, they
will be valued by the customers also.
• Innovative Marketing: To strive for real product and marketing
improvements, says the third principle, i.e. innovative
marketing. We all know that the world is ever-changing and so
does the tastes and preferences of the customers. therefore,
the company should always look for new and improved
methods, to not lose customers easily.
89. • Mission Marketing: The company’s mission should be
broadly defined, in social terms and not in the product.
This is due to the fact that if a company states the mission
that has some social welfare hidden in it, the employees
feel proud to work for a good cause and work in the right
direction.
• Societal Marketing: As per this principle, the marketing
decisions made by the company must take into account the
wants and interest of the consumers, company’s
requirements and the social welfare.
90. • What is relationship marketing?
• Relationship marketing is a facet of customer relationship
management (CRM) that focuses on customer loyalty and
long-term customer engagement rather than shorter-term
goals like customer acquisition and individual sales. The
goal of relationship marketing (or customer relationship
marketing) is to create strong, even emotional, customer
connections to a brand that can lead to ongoing business,
free word-of-mouth promotion and information from
customers that can generate leads.
91. • Relationship marketing stands in contrast to the more
traditional transactional marketing approach, which
focuses on increasing the number of individual sales. In the
transactional model, the return on customer acquisition
cost may be insufficient. A customer may be convinced to
select that brand one time, but without a strong
relationship marketing strategy, the customer may not
come back to that brand in the future.
92. • Why is relationship marketing important?
• Acquiring new customers can be challenging and costly.
Relationship marketing helps retain customers over the
long term, which results in customer loyalty rather than
customers purchasing once or infrequently.
• Relationship marketing is important for its ability to stay in
close contact with customers. By understanding how
customers use a brand's products and services and
observing additional unmet needs, brands can create new
features and offerings to meet those needs, further
strengthening the relationship.
93. Benefits of relationship marketing
The benefits of relationship marketing include the following:
• Higher customer lifetime value (CLV). Relationship marketing
creates loyal customers, which leads to repeat purchases and a
higher CLV. In addition, loyal customers are likely to become
brand advocates or ambassadors, recommending products and
services to friends, family and business associates.
• Reduction in marketing and advertising spend. Spending on
marketing and advertising to acquire new customers can be
expensive. Relationship marketing causes customers to do the
marketing for a brand in what's called buzz marketing.
Customers tell others about a brand's products and services,
which can drive sales. Brands with exceptional relationship
marketing programs spend little to no money on marketing or
advertising.
94. • Stronger organizational alignment around the
customer. Organizations that emphasize relationship
marketing have a stronger organizational alignment around
an exceptional customer experience. The teams work
together to create satisfied and happy customers over the
long term.
95. • Examples of relationship marketing
• There are several types of activities brands can use to facilitate
relationship marketing:
• Provide exceptional customer service, as customers who are
consistently impressed by a brand's customer service are more likely
to remain loyal to the brand.
• Thank customers through a social media post or with a surprise gift
card.
• Solicit customer feedback through surveys, polls and phone calls,
which can create a positive impression that customer opinions are
valued and help to create better products and services.
• Hold events to connect with customers and build a community.
• Create customer advocacy or brand advocacy programs to reward
customers who provide word-of-mouth advertising on a brand's
behalf.
• Offer discounts or bonuses to long-time or repeat customers.
96. • What is Retail Marketing?
• Retail marketing involves every element from the interior
to exterior promotions and offers, product placements in-
store advertisement, strategic placement as well as the
behavior of store representatives.
• Definition of Retail Marketing
• Retail marketing includes a set of activities where a retailer
buys products from a wholesaler or manufacturer to sell
them to ends users (consumers). In simple words, a retailer
is an intermediary which makes products available to
consumers using different channels, for example, brick-
and-mortar retail stores, shopping malls, shopping
websites, automatic vending machines, kiosks etc.
97. • Store Retailing Vs Non Store Retailing
• A retail store means a place where the business is
operated, usually by the owner; however, sometimes
operated and owned by the manufacturer or by anyone
other than a retailer within which the merchandise is
primarily sold to end-users.
• On the other side, non-store retailing involves selling
merchandise outside the boundaries of a retail facility. This
generic term tends to describe retailing that takes place
outside of stores and shops. Retailing takes place through
television, internet, video, automatic vending machines
direct marketing and direct selling.
98. • What is Virtual Marketing
• Virtual marketing is the promotion of products or services
using digital technologies and telecommunications. It is
mainly on the internet but may also be through
smartphones, display advertising, and any other digital
marketing medium.
• It extends beyond the internet to include channels that do
not require the use of internet-connected devices.
• While virtual marketing includes many different channels
and strategies, its fundamental goal is always to connect
with existing customers and prospects in a personal and
engaging way.
100. • Types
• Content Marketing
• SEO : SEO (search engine optimization) is perfecting your
website and its content for search engines like Google and
Bing. It seeks to improve your visibility in search engine
results pages (SERPs), so potential customers can easily find
your site.
• Social Media Marketing
• Social media marketing uses popular channels like
Facebook, Instagram, and Twitter to connect with potential
and current customers. This marketing targets to build
brand awareness and trust, drive traffic to your
website, generate leads and sales, and create a community
around your brand.
101. • Email Marketing
• Email marketing involves sending promotional or
transactional messages to customers via email. It aims to
build customer relationships and promote your brand or
product. You can also run email marketing to drive your
website traffic or generate sales leads.
