Marketing involves 9 functions to connect consumers with products and services that satisfy their needs: [1] Distribution gets products to where consumers can buy them. [2] Selling allows producers to sell in a free market. [3] Financing provides money for production. [4] Storage protects products until needed. [5] Transportation physically moves products to consumers. [6] Processing transforms raw materials into usable forms. [7] Risk-taking is insured. [8] Market information guides decisions. [9] Grading ensures quality standards. The goal is satisfying consumer needs, not just making sales.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
To achieve success in marketing, effort must be made to have glimpse of the big picture and the activities that must be performed to achieve the set marketing objectives. These set of activities are called marketing functions
Factors effecting selection of distribution channelsShubhanjali -
introduction to distribution
distribution channel
market intermediaries
factors affecting selection of distribution channels:-
1. Nature of product
2. Nature of market
3. Nature of middle men
4. Nature of manufacturing units
5. Competition
6. Govt. rules & policies
conclusion
references
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
To achieve success in marketing, effort must be made to have glimpse of the big picture and the activities that must be performed to achieve the set marketing objectives. These set of activities are called marketing functions
Factors effecting selection of distribution channelsShubhanjali -
introduction to distribution
distribution channel
market intermediaries
factors affecting selection of distribution channels:-
1. Nature of product
2. Nature of market
3. Nature of middle men
4. Nature of manufacturing units
5. Competition
6. Govt. rules & policies
conclusion
references
Advertising, its role and importance in the marketing of consumer productResearchWap
The research will be carried out to find out the adverting philosophy in our industries.
The study is specifically undertaken to know the role and importance of global advertisement on consumers attitudes and preference in the firms products and also to know the reasons for recent increase in the advertisement both by the manufacturing and services of the company.
To study consumers reactions towards the product and as well to study consumers reaction the company advertisement.
The study will help to know the image that the company commands, generally in the market and the image it creates in consumers concerning certain products of the organization. The marketing activities are becoming complex as a result of increasing stiff competition from various manufacturers to support their existence in the market places.
A lot of product are now struggling for the few earned by consumer naira. One must focus more attention on the importance of advertising, which is to inform and persuade consumer towards products and attribute benefits.
Manufacturing organization are making serious effort to motivate people towards purchasing their products and at the same time protect goods image of the organization. While focusing attention on advertising it must be equally, borne in mind that consumers are often irrational, unpredictable and erratic in their behaviours.
Therefore, there is need to understand the behaviour of consumers. However another significance of this research work includes:
1. It creates mass markets that encourage economic of scale in production.
2. It reduce distribution costs by pre-selling goods
3. It contributes to the maintenance of high quality standard by making the public aware of the identify of the manufacturer.
4. It also provides information about old and new product.
2. What is Marketing?
What does the term marketing mean? Marketing
must be understood not in the
old sense of making a sale - 'selling' - but in the
new sense of satisfying customer
needs.
3.
4. Needs. Wants and Demands
The most basic concept underlying
marketing is that of human needs. A
human need is a state of felt
deprivation. Humans have many
complex needs. These include basic
physical needs for food, clothing,
warmth and safety; social needs for
belonging and affection; and
individual needs for knowledge and
self-expression.
5. Products and Services
People satisfy their needs and wants
with products. A product is anything
products
that can he offered to a market to
satisfy a need or want. Usually, the
word product suggests a physical
object, such as a car, a television set
or a bar of soap. However, the
concept of product is not limited to
physical objects - anything capable of
satisfying a need can be called a
6. Value, Satisfaction and Quality
Consumers usually face a broad array
of products and services that might
satisfy a given need. How do they
choose among these many products?
Consumers make buying choices
based on their perceptions of the
value that various products and
sendees deliver.
12. functions
• Distribution
• Selling
• Financing
• Market Information Management
• Pricing
• Product/Service Management
• Promotion
13. FUNCTIONS
In order for the marketing bridge to work
correctly -- providing consumers with
opportunities to purchase the products
and services they need -- the marketing
process must accomplish nine important
functions
15.
7P's
Product
Promotion
Place,
People
Process
Physical Environment
16. Buying
people have the the opportunity to buy products
that they want.
17. Selling
producers function within a free market to sell
products to consumers.
18. Financing
banks and other financial institutions provide
money for the production and marketing of
products.
19. Storage
products must be stored and protect ed until
they are needed. This function is especially
important for perishable products such as fruits
and vegetables.
20. Transportation
products must be physically relocated to the
locations where consumers can buy them. This
is a very important function. Transportation
includes rail road, ship, airplane, truck, and
telecommunications for non-tangible products
such as market information.
24. Market Information
Information from around the world
about market conditions, weather,
conditions
price movements, and political
changes, can affect the marketing
process. Market information is
provided by all forms of
telecommunication, such as
telecommunication
television, the internet, and phone.
25. Grading and Standardizing
Many products are graded in order to conform to
previously determined standards of quality. For
example, when you purchase US No. 1
Potatoes, you know you are buying the best
potatoes on the market.