The document discusses different forms of business organization and their key characteristics. It covers sole proprietorship, partnership, joint stock company (private and public limited), cooperative society, and joint Hindu family business.
The three main forms discussed are:
1) Sole proprietorship where one individual owns and manages the business.
2) Partnership where two or more individuals jointly own and operate a business.
3) Joint stock company where a company is formed by shareholders with transferable shares and limited liability. Private and public limited companies are discussed.
The document compares advantages and disadvantages of each form and their legal registration requirements.
The document discusses the objectives and functions of marketing. The key objectives are customer satisfaction, ensuring profitability, building goodwill, creating demand, and increasing sales volume. The functions include market research, planning, product development, packaging, branding, pricing, promotion, distribution, transportation, and customer support. Marketing aims to satisfy customer needs while maximizing profits through these various objectives and functions.
This document provides a summary of key concepts from the first chapter of a marketing management textbook. It discusses the value of marketing, the scope of marketing including what is marketed and who markets, core marketing concepts like needs and segmentation, new marketing realities from forces like technology and globalization, the importance of social responsibility, and how the marketplace has changed with new consumer capabilities. The overall summary is that the chapter introduces foundational topics in marketing management including definitions, concepts, trends shaping the field, and societal considerations.
Marketing channels, also known as distribution channels, are a set of interdependent organizations involved in making a product available to consumers. They include manufacturers, wholesalers, retailers, and other intermediaries. There are different types of intermediaries and levels within marketing channels, from direct channels with no intermediaries to channels with multiple levels of intermediaries. Properly designing marketing channels requires analyzing customer needs, setting objectives, identifying alternatives, and evaluating alternatives based on economic, control, and adaptive criteria. Managing channels also requires selecting, motivating, and evaluating channel members over time.
This document discusses key concepts in marketing for the 21st century. It covers the challenges businesses face in a new economy with increased information and connectivity. Major topics addressed include the tasks of marketing, core marketing concepts and tools, different company orientations toward customers and markets, and how businesses and marketers are responding to changes through strategies like e-commerce, globalization, and relationship marketing.
Distribution channels help companies reach customers by making products available for consumption. They include intermediaries like distributors, wholesalers and retailers. Companies must decide on their distribution intensity, structure their distribution network, and implement policies and procedures to govern channel members. Key performance indicators are used to measure the effectiveness of the distribution strategy and critical success factors like commitment, fairness and customer service are important for the strategy's success.
The document defines marketing and its key concepts. It discusses how marketing has evolved from a focus on production and selling to prioritizing customer needs and values. The document outlines traditional marketing mix elements like product, price, place and promotion as well as modern elements like people, process, programs and performance. It also discusses important marketing concepts such as segmentation, targeting, positioning, brands, and the relationship between customer benefits, costs and perceived value.
The document discusses the objectives and functions of marketing. The key objectives are customer satisfaction, ensuring profitability, building goodwill, creating demand, and increasing sales volume. The functions include market research, planning, product development, packaging, branding, pricing, promotion, distribution, transportation, and customer support. Marketing aims to satisfy customer needs while maximizing profits through these various objectives and functions.
This document provides a summary of key concepts from the first chapter of a marketing management textbook. It discusses the value of marketing, the scope of marketing including what is marketed and who markets, core marketing concepts like needs and segmentation, new marketing realities from forces like technology and globalization, the importance of social responsibility, and how the marketplace has changed with new consumer capabilities. The overall summary is that the chapter introduces foundational topics in marketing management including definitions, concepts, trends shaping the field, and societal considerations.
Marketing channels, also known as distribution channels, are a set of interdependent organizations involved in making a product available to consumers. They include manufacturers, wholesalers, retailers, and other intermediaries. There are different types of intermediaries and levels within marketing channels, from direct channels with no intermediaries to channels with multiple levels of intermediaries. Properly designing marketing channels requires analyzing customer needs, setting objectives, identifying alternatives, and evaluating alternatives based on economic, control, and adaptive criteria. Managing channels also requires selecting, motivating, and evaluating channel members over time.
This document discusses key concepts in marketing for the 21st century. It covers the challenges businesses face in a new economy with increased information and connectivity. Major topics addressed include the tasks of marketing, core marketing concepts and tools, different company orientations toward customers and markets, and how businesses and marketers are responding to changes through strategies like e-commerce, globalization, and relationship marketing.
Distribution channels help companies reach customers by making products available for consumption. They include intermediaries like distributors, wholesalers and retailers. Companies must decide on their distribution intensity, structure their distribution network, and implement policies and procedures to govern channel members. Key performance indicators are used to measure the effectiveness of the distribution strategy and critical success factors like commitment, fairness and customer service are important for the strategy's success.
The document defines marketing and its key concepts. It discusses how marketing has evolved from a focus on production and selling to prioritizing customer needs and values. The document outlines traditional marketing mix elements like product, price, place and promotion as well as modern elements like people, process, programs and performance. It also discusses important marketing concepts such as segmentation, targeting, positioning, brands, and the relationship between customer benefits, costs and perceived value.
Porter's Five Forces model analyzes five competitive forces that shape an industry: 1) rivalry among existing competitors, 2) threat of new entrants, 3) bargaining power of suppliers, 4) bargaining power of buyers, and 5) threat of substitute products. The model helps businesses understand the profitability and attractiveness of an industry sector by identifying its weaknesses and strengths. Analyzing these competitive forces can help companies improve their profitability by adjusting their strategy accordingly.
This document discusses different types and classifications of selling. It describes McMurry & Arnold's classification of selling into groups A, B and C based on different selling approaches. Group A includes inside order sales, delivery sales, outside order sales, missionary sales and technical sales. Group B involves creative selling for tangible and intangible products. Group C requires unusual creativity for political, indirect or backdoor selling and multiple selling. Derch Newton's classification and other types like consumer indirect selling, group selling, telesales, franchise selling and international selling are also outlined. Challenges of different selling approaches are highlighted.
The document discusses competitive dynamics and marketing strategies, including how market leaders can expand their total market share while defending their position, how challengers can attack leaders, and how followers and niche players can compete effectively. It also examines strategies for different stages of the product life cycle.
Chapter 1 introduction to sales and distribution managementNishant Agrawal
To understand evolution, nature and importance of sales management
To know role and skills of modern sales managers
To understand types of sales managers
To learn objectives, strategies and tactics of sales management
To know emerging trends in sales management
To understand linkage between sales and distribution management.
Kotler's Marketing Management: Connecting with CustomersNadia Tantuco
The document discusses the importance of connecting with customers for effective marketing. It outlines that (1) good marketing starts with strong customer relationships built on trust and loyalty over time, (2) understanding how consumers think and feel is key to offering value tailored to each customer segment, and (3) success in business markets requires understanding organizational needs, resources, policies, and purchasing procedures. The conclusion emphasizes that good marketing is based on thoroughly understanding target customers and satisfying their needs better than competitors.
The document discusses marketing distribution channels and types of distribution systems. It provides information on intermediaries like wholesalers and retailers. It also describes different types of distribution channels like direct, retailer, wholesaler-retailer, and gives PepsiCo as an example. Vertical marketing systems are defined as contractual, corporate, or administered. The key steps in designing distribution channels are analyzed as well.
The document discusses key aspects of marketing information systems and market research. It begins by outlining the steps in the market research process which includes defining problems/objectives, developing a research plan, implementing the plan by collecting/analyzing data, and interpreting/reporting findings. It then defines the marketing information system as consisting of people, equipment and procedures to gather, analyze and distribute timely and accurate information to decision makers. Lastly, it discusses how companies analyze information using statistical analysis and CRM software, and distribute it through reporting, databases and intranets.
Industrial markets present different challenges than consumer markets. Industrial markets consist of organizations that purchase goods and services to create their own offerings. Industrial marketing involves matching a supplier's capabilities with a customer's desired outcomes to create value for both organizations and their downstream customers. Industrial customers include commercial enterprises like original equipment manufacturers, government organizations, and institutions. These customers often have complex purchase processes involving multiple decision makers. Suppliers must understand the unique characteristics and needs of industrial customers in order to succeed in business-to-business marketing and sales.
This document discusses developing marketing strategies and plans. It covers how marketing affects customer value through a value delivery process. Strategic planning is carried out at different organization levels, from corporate to business unit levels. A marketing plan should include situational analysis, objectives, strategies, implementation plans, and controls. It also discusses holistic marketing which integrates value exploration, creation, and delivery to build long-term customer relationships. Strategic planning identifies opportunities and threats in the external environment and strengths and weaknesses internally through a SWOT analysis.
Market segmentation is The process of dividing a potential market into distinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mix.
This document summarizes Michael Porter's Five Forces model of competition. It was developed by Michael Porter to analyze industry structure and competition. The five competitive forces are: the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, the threat of substitute products, and competitive rivalry between existing competitors. The document explains each of these forces and factors that influence the degree of each force within an industry.
Developing Marketing Strategies and Plans / Marketing Management By Kotler K...Choudhry Asad
The document discusses various marketing strategies and planning tools including the value chain, core business processes, core competencies, holistic marketing, marketing plans, corporate planning activities, strategic business units, and business unit strategic planning. It provides examples of mission statements and describes dimensions that define a business, product orientation vs market orientation, characteristics of strategic business units, assessing growth opportunities using Ansoff's matrix, conducting a SWOT analysis, market opportunity analysis, goal formulation, Porter's generic strategies, strategic alliances, typical marketing plan contents, and criteria for evaluating a marketing plan.
This document outlines competitive strategies for different market positions: market leader, challenger, follower, and nicher.
For market leaders, the strategies discussed are expanding total market demand through new customers, new uses, and more usage. Defensive strategies include positioning defense, flank defense, counteroffensive defense, mobile defense, and contraction defense. Offensive strategies for leaders center around increasing market share through advertising, distribution, pricing, new products, and mergers/acquisitions.
Challengers are advised to directly attack the market leader through price discounts, innovation, distribution changes, and advertising. Specific challenger attacks discussed include flank attacks, encirclement attacks, bypass attacks, frontal attacks, and guerilla attacks
Industrial buying decisions are influenced by environmental, organizational, interpersonal, and individual factors. Environmental factors include economic conditions, technological changes, politics/regulations, and competition. Organizational factors comprise a company's objectives, policies, procedures, structure, and systems. Interpersonal factors stem from relationships between buying center participants and their ability to influence one another. Individual factors relate to personal characteristics like age, income, education, job role, personality, and risk attitudes.
Business markets involve the sale of goods and services to other businesses rather than individual consumers. Business buyers face different situations like straight rebuys, modified rebuys, or new tasks. Multiple people are involved in organizational buying decisions, including users, buyers, influencers, deciders, and gatekeepers. The business buying process involves stages like problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Factors like product characteristics, price, supplier service, and relationships influence business buyer decisions.
Summary of kotler's marketing management bookSasquatch S
This document provides an overview of Philip Kotler's book on marketing management. It discusses 1) the scope and tasks of marketing, including the different types of markets and decisions that marketers face, 2) core marketing concepts like segmentation, targeting, and positioning, and 3) marketing tools such as the marketing mix and relationship marketing. The summary covers the key topics addressed in Kotler's work on developing customer value and managing the total marketing effort.
This document provides an overview of services marketing. It begins by defining services and distinguishing their key characteristics from goods, such as intangibility, inseparability, heterogeneity, and perishability. Several models of services marketing are introduced, including the services triangle, molecular model, and servuction model. Challenges of services marketing are also discussed. Examples are provided of common service industries and terms used in services marketing. Statistics show the increasing importance of the services sector in the United States and Indian economies.
This document provides an overview of a course on managing marketing programs with a focus on advertising and sales promotion.
The course aims to help students understand the role of advertising and sales promotion in marketing and the promotional mix. It will examine how organizations structure advertising processes and techniques. Students will learn how to establish objectives and budgets for promotional programs. The course also focuses on creative strategy, planning, development, implementation and evaluation of advertising.
The document outlines the course sessions, readings, and learning outcomes. It introduces the course tutors and provides their contact information. The course prerequisites and module overview are also summarized.
The document discusses the components and functions of a marketing information system. It defines a marketing information system as consisting of people, equipment, and procedures to gather, analyze, and distribute market data to aid in decision making. The key components are an internal records system to track customer and sales data, a marketing intelligence system to monitor the external environment, a marketing decision support system to interpret and apply findings, and conducting marketing research.
This document provides an overview of identifying market segment, target, and position strategies. It begins by outlining the learning objectives, which are to understand market segmentation bases, the segmentation process, target market evaluation and selection, positioning strategies, and practices in Nepal. Several key aspects of segmentation are then defined and explained, including the concept, requirements, bases for consumer and industrial segmentation, the segmentation process, target market evaluation, selection, and developing positioning strategies. Specific variables, types, and the process are outlined for each topic.
The document discusses various steps and concepts related to identifying business opportunities including generating ideas, screening opportunities, formulating business concepts, and conducting market analysis. It describes scanning the external environment to identify customer needs and macro trends. The screening process involves analyzing opportunities at the personal and firm level. Methods of collecting market intelligence like surveys and publications are outlined. Conducting an environmental analysis and identifying threats and opportunities is described as part of formulating the business concept. Key aspects of market analysis like market size, segments, trends, and industry cost structure are also summarized.
This document provides a 5-step process for creating a marketing plan:
1. Understand what a marketing plan is and its purpose for a startup
2. Conduct market research to understand the market, customers, competition and opportunities
3. Perform a SWOT analysis and market segmentation to identify objectives and strategies
4. Define yearly action plans for the marketing mix of product, price, promotion and place
5. Structure the written marketing plan to communicate the strategic and operational plans
Porter's Five Forces model analyzes five competitive forces that shape an industry: 1) rivalry among existing competitors, 2) threat of new entrants, 3) bargaining power of suppliers, 4) bargaining power of buyers, and 5) threat of substitute products. The model helps businesses understand the profitability and attractiveness of an industry sector by identifying its weaknesses and strengths. Analyzing these competitive forces can help companies improve their profitability by adjusting their strategy accordingly.
This document discusses different types and classifications of selling. It describes McMurry & Arnold's classification of selling into groups A, B and C based on different selling approaches. Group A includes inside order sales, delivery sales, outside order sales, missionary sales and technical sales. Group B involves creative selling for tangible and intangible products. Group C requires unusual creativity for political, indirect or backdoor selling and multiple selling. Derch Newton's classification and other types like consumer indirect selling, group selling, telesales, franchise selling and international selling are also outlined. Challenges of different selling approaches are highlighted.
The document discusses competitive dynamics and marketing strategies, including how market leaders can expand their total market share while defending their position, how challengers can attack leaders, and how followers and niche players can compete effectively. It also examines strategies for different stages of the product life cycle.
Chapter 1 introduction to sales and distribution managementNishant Agrawal
To understand evolution, nature and importance of sales management
To know role and skills of modern sales managers
To understand types of sales managers
To learn objectives, strategies and tactics of sales management
To know emerging trends in sales management
To understand linkage between sales and distribution management.
Kotler's Marketing Management: Connecting with CustomersNadia Tantuco
The document discusses the importance of connecting with customers for effective marketing. It outlines that (1) good marketing starts with strong customer relationships built on trust and loyalty over time, (2) understanding how consumers think and feel is key to offering value tailored to each customer segment, and (3) success in business markets requires understanding organizational needs, resources, policies, and purchasing procedures. The conclusion emphasizes that good marketing is based on thoroughly understanding target customers and satisfying their needs better than competitors.
The document discusses marketing distribution channels and types of distribution systems. It provides information on intermediaries like wholesalers and retailers. It also describes different types of distribution channels like direct, retailer, wholesaler-retailer, and gives PepsiCo as an example. Vertical marketing systems are defined as contractual, corporate, or administered. The key steps in designing distribution channels are analyzed as well.
The document discusses key aspects of marketing information systems and market research. It begins by outlining the steps in the market research process which includes defining problems/objectives, developing a research plan, implementing the plan by collecting/analyzing data, and interpreting/reporting findings. It then defines the marketing information system as consisting of people, equipment and procedures to gather, analyze and distribute timely and accurate information to decision makers. Lastly, it discusses how companies analyze information using statistical analysis and CRM software, and distribute it through reporting, databases and intranets.
Industrial markets present different challenges than consumer markets. Industrial markets consist of organizations that purchase goods and services to create their own offerings. Industrial marketing involves matching a supplier's capabilities with a customer's desired outcomes to create value for both organizations and their downstream customers. Industrial customers include commercial enterprises like original equipment manufacturers, government organizations, and institutions. These customers often have complex purchase processes involving multiple decision makers. Suppliers must understand the unique characteristics and needs of industrial customers in order to succeed in business-to-business marketing and sales.
This document discusses developing marketing strategies and plans. It covers how marketing affects customer value through a value delivery process. Strategic planning is carried out at different organization levels, from corporate to business unit levels. A marketing plan should include situational analysis, objectives, strategies, implementation plans, and controls. It also discusses holistic marketing which integrates value exploration, creation, and delivery to build long-term customer relationships. Strategic planning identifies opportunities and threats in the external environment and strengths and weaknesses internally through a SWOT analysis.
Market segmentation is The process of dividing a potential market into distinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mix.
This document summarizes Michael Porter's Five Forces model of competition. It was developed by Michael Porter to analyze industry structure and competition. The five competitive forces are: the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, the threat of substitute products, and competitive rivalry between existing competitors. The document explains each of these forces and factors that influence the degree of each force within an industry.
Developing Marketing Strategies and Plans / Marketing Management By Kotler K...Choudhry Asad
The document discusses various marketing strategies and planning tools including the value chain, core business processes, core competencies, holistic marketing, marketing plans, corporate planning activities, strategic business units, and business unit strategic planning. It provides examples of mission statements and describes dimensions that define a business, product orientation vs market orientation, characteristics of strategic business units, assessing growth opportunities using Ansoff's matrix, conducting a SWOT analysis, market opportunity analysis, goal formulation, Porter's generic strategies, strategic alliances, typical marketing plan contents, and criteria for evaluating a marketing plan.
This document outlines competitive strategies for different market positions: market leader, challenger, follower, and nicher.
For market leaders, the strategies discussed are expanding total market demand through new customers, new uses, and more usage. Defensive strategies include positioning defense, flank defense, counteroffensive defense, mobile defense, and contraction defense. Offensive strategies for leaders center around increasing market share through advertising, distribution, pricing, new products, and mergers/acquisitions.
Challengers are advised to directly attack the market leader through price discounts, innovation, distribution changes, and advertising. Specific challenger attacks discussed include flank attacks, encirclement attacks, bypass attacks, frontal attacks, and guerilla attacks
Industrial buying decisions are influenced by environmental, organizational, interpersonal, and individual factors. Environmental factors include economic conditions, technological changes, politics/regulations, and competition. Organizational factors comprise a company's objectives, policies, procedures, structure, and systems. Interpersonal factors stem from relationships between buying center participants and their ability to influence one another. Individual factors relate to personal characteristics like age, income, education, job role, personality, and risk attitudes.
Business markets involve the sale of goods and services to other businesses rather than individual consumers. Business buyers face different situations like straight rebuys, modified rebuys, or new tasks. Multiple people are involved in organizational buying decisions, including users, buyers, influencers, deciders, and gatekeepers. The business buying process involves stages like problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Factors like product characteristics, price, supplier service, and relationships influence business buyer decisions.
Summary of kotler's marketing management bookSasquatch S
This document provides an overview of Philip Kotler's book on marketing management. It discusses 1) the scope and tasks of marketing, including the different types of markets and decisions that marketers face, 2) core marketing concepts like segmentation, targeting, and positioning, and 3) marketing tools such as the marketing mix and relationship marketing. The summary covers the key topics addressed in Kotler's work on developing customer value and managing the total marketing effort.
This document provides an overview of services marketing. It begins by defining services and distinguishing their key characteristics from goods, such as intangibility, inseparability, heterogeneity, and perishability. Several models of services marketing are introduced, including the services triangle, molecular model, and servuction model. Challenges of services marketing are also discussed. Examples are provided of common service industries and terms used in services marketing. Statistics show the increasing importance of the services sector in the United States and Indian economies.
This document provides an overview of a course on managing marketing programs with a focus on advertising and sales promotion.
The course aims to help students understand the role of advertising and sales promotion in marketing and the promotional mix. It will examine how organizations structure advertising processes and techniques. Students will learn how to establish objectives and budgets for promotional programs. The course also focuses on creative strategy, planning, development, implementation and evaluation of advertising.
The document outlines the course sessions, readings, and learning outcomes. It introduces the course tutors and provides their contact information. The course prerequisites and module overview are also summarized.
The document discusses the components and functions of a marketing information system. It defines a marketing information system as consisting of people, equipment, and procedures to gather, analyze, and distribute market data to aid in decision making. The key components are an internal records system to track customer and sales data, a marketing intelligence system to monitor the external environment, a marketing decision support system to interpret and apply findings, and conducting marketing research.
This document provides an overview of identifying market segment, target, and position strategies. It begins by outlining the learning objectives, which are to understand market segmentation bases, the segmentation process, target market evaluation and selection, positioning strategies, and practices in Nepal. Several key aspects of segmentation are then defined and explained, including the concept, requirements, bases for consumer and industrial segmentation, the segmentation process, target market evaluation, selection, and developing positioning strategies. Specific variables, types, and the process are outlined for each topic.
The document discusses various steps and concepts related to identifying business opportunities including generating ideas, screening opportunities, formulating business concepts, and conducting market analysis. It describes scanning the external environment to identify customer needs and macro trends. The screening process involves analyzing opportunities at the personal and firm level. Methods of collecting market intelligence like surveys and publications are outlined. Conducting an environmental analysis and identifying threats and opportunities is described as part of formulating the business concept. Key aspects of market analysis like market size, segments, trends, and industry cost structure are also summarized.
This document provides a 5-step process for creating a marketing plan:
1. Understand what a marketing plan is and its purpose for a startup
2. Conduct market research to understand the market, customers, competition and opportunities
3. Perform a SWOT analysis and market segmentation to identify objectives and strategies
4. Define yearly action plans for the marketing mix of product, price, promotion and place
5. Structure the written marketing plan to communicate the strategic and operational plans
How to Conduct and Prepare a Competitive AnalysisVarun Mittal
This document provides guidance on how to conduct a competitive analysis in order to understand competitors and develop effective strategies. It outlines steps to identify competitors, research them through various sources, analyze their products, objectives, strategies, strengths and weaknesses. The analysis allows businesses to determine their own competitive position in the market and identify opportunities to improve. Regularly updating the competitive analysis is important as the market landscape changes.
Market demand analysis helps companies understand consumer demand for products and services. This allows management to determine if they can successfully enter a market and generate profits. The first step is identifying the target market through surveys. Companies also assess what stage the business cycle is in - emerging, plateau, or declining. They develop products that meet specific consumer needs. Competition levels are analyzed to determine potential market share and profits.
Marketing research is an important tool that helps companies make wise decisions. It involves evaluating potential new products or services directly with consumers to understand the target market and make informed choices. The key objectives of marketing research are to help with administrative planning, satisfy customer needs, and determine economic success. Conducting quality market research provides many benefits, including identifying opportunities and threats, constantly learning about customers and competitors, and reducing risks of new products. The basic process involves identifying the research purpose, collecting data, evaluating, analyzing, interpreting, and disseminating findings. Important sources of information include current customers, business magazines, surveys, government agencies, and the internet.
This presentation summarizes market research for a new business venture. It defines market research as gathering, analyzing, and interpreting information about markets, products, services, customers, and competitors. The presentation outlines the importance of market research for identifying problems and opportunities, developing strategies, understanding customer needs, and improving sales and decision-making. It then describes the key steps in market research as identifying objectives, collecting secondary and primary data, analyzing results, and implementing findings. Finally, it distinguishes between primary research methods like surveys and interviews and secondary research of published data.
What do you mean by Market research, Concept of Market Research, Application of Market Research, Advantages of Market Research, Process of Market Research, Market Information.
This document provides an overview of market research, including definitions, importance, objectives, scope, process, and procedures. It defines market research as the investigation of marketing possibilities for a product in a given region. The importance outlined includes solving marketing problems, increasing market efficiency, facilitating sales forecasting, and making authentic decisions. The objectives are to determine what, when, where, and how to sell. The scope covers product, consumer, sales, advertising, and competition research. The process involves defining the problem, analyzing the situation, informal investigation, planning final investigation, collecting and analyzing data, interpreting conclusions, preparing a report, and implementing recommendations.
This document provides an overview of marketing research and outlines several key concepts:
1. It defines marketing research and discusses its purpose of helping companies make better business decisions.
2. Several stages in the evolution of marketing research are identified from the 1880s to the present.
3. Criteria for good research and qualities of effective research like being systematic, logical, empirical, and replicable are described.
4. The relationship between marketing research and marketing information systems is explored.
This market feasibility report summarizes key elements to include when conducting a feasibility study for a new innovation project. It describes analyzing the current market, industry trends, competition, sales projections, and potential customers. The report emphasizes using factual information from research and cites sources to justify assumptions. Conducting in-depth analysis of these components can help determine if a project is both needed in the market and competitive against alternatives.
CHAPTER 3 AND 4 Identifying and developing market opportunitiesC.pptxadvicenethengwe
This document discusses conducting an analysis to identify market opportunities and threats. It recommends conducting:
1) A macro environmental analysis to identify trends in areas like technology, economy, politics, etc.
2) A market environmental analysis of factors like suppliers, customers and competitors.
3) An internal analysis to assess the company's strengths and weaknesses.
Conducting a comprehensive analysis allows marketers to discover opportunities in the external environment and determine if the company is able to take advantage of them.
The document discusses environmental scanning, which involves examining and studying a business's internal and external environment to identify opportunities and threats. It identifies factors in the external environment like economic, demographic, technological, political, and cultural factors. The internal environment includes organizational resources, behavior, capabilities, and strengths/weaknesses. Several analysis tools are discussed, including Porter's Five Forces model, BCG matrix, Porter's generic strategies, and value chain analysis. Adaptive strategies mentioned include prospector, defender, analyzer, and reactor strategies.
The international marketing process involves 4 key steps:
1) Conducting a thorough situation analysis to identify customer needs and opportunities.
2) Developing a marketing strategy to target specific customer segments and position offerings.
3) Making tactical marketing mix decisions around product, price, place, and promotion.
4) Implementing and monitoring the marketing plan, making adjustments based on results.
Market research involves collecting, organizing, analyzing, and communicating information to make informed marketing decisions. It helps complement marketing strategies by enabling businesses to select target markets and make decisions about branding, products, and services. There are two types of market research - primary research involves direct data collection through surveys and interviews, while secondary research uses existing data from reports and articles. The key steps in market research are to define the problem, collect data through qualitative and quantitative methods, analyze and interpret the data, reach a conclusion, and implement the research findings.
Marketing process needs market researchkrishymohan
Market research is required at every stage of the typical marketing process. The process begins with a situation analysis to understand customer needs and the market environment. This informs the development of a marketing strategy, which involves selecting target markets and positioning offerings. Marketing mix decisions then determine the specific product, price, place, and promotion tactics. Implementation and continuous control are needed to ensure customer needs are met over the long term. Market research techniques like surveys, focus groups, and interviews provide valuable customer insights to guide decision making at each step.
Global marketing Plan External & Internal Analysis pptMoriba Touray
It should be apparent by now that companies and organizations planning to compete effectively in world markets need a clear and well-focused international marketing plan that is based on a thorough understanding of the markets in which the company is introducing its products. The challenge, then, of international marketing is to ensure that any international strategy has the discipline of thorough research, and an understanding and accurate evaluation of what is required to achieve a competitive advantage.
This document provides an overview of tools and processes for conducting global marketing research and analysis. It discusses PESTEL analysis for examining political, economic, social, technological, legal and environmental factors. It also explains SWOT analysis for identifying internal strengths and weaknesses as well as external opportunities and threats. The document then outlines the global marketing research process and types of research conducted, including on industries, buyers, products, distribution and promotion. It introduces decision support systems and sales forecasting techniques used in international marketing.
Market research is an essential process for any business looking to understand its target market and make informed decisions about its products, services, and marketing strategies. In this article, we will take a closer look at market research, including what it is, why it is important, and the various methods and techniques used to conduct it.
L3- Recognize a Potential Market- Market Need Analysis.pptxMaamLyca
The document discusses how to analyze the market need and potential for a new business. It defines key terms related to market analysis including existing customers, target market users, prospects, brand image, market characteristics, market potential, and market share. It also outlines steps for problem identification research and problem-solving research. The document emphasizes understanding customer benefits compared to competitors, defining who the target market is and what they need, and assessing the size and segments of the potential market through demographics and segmentation.
3. • 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
4. • 4p's of marketing - product Price Place promotion
• 7P's - Product Promotion Place, People
Process Physical Environment
• Buying - people have the the opportunity to buy
products that they want.
• Selling - producers function within a free market to sell
products to consumers.
• Financing banks and other financial institutions provide
money for the production and marketing of products.
• 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.
5. • 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
• Processing processing involves turning a raw product, like wheat,
into something The consumer can use -- for example, bread.
• 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.
• 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
6. Industry Analysis
• Industry analysis is a market evaluation tool that businesses and
companies use to comprehend and analyze the degree of
competition in a certain industry. It helps you to understand the
market position of the industry. Like the external factors impacting
the industry, credit system, technological changes and how shaping
the future, other competitive developing industries, competition
level within the industry, and statistics of supply and demand
• Industry analysis helps an entrepreneur or a startup company to
comprehend the position of a business relevant to the
other competitive businesses in the industry
• it helps you to recognize the upcoming threats and opportunities
and how you can handle them with your strong points. The only
way to survive in today’s business environment is to distinguish
yourself from the competitors within the industry
7. Types of Industry Analysis
1.Competitive Force Model (Porter’s Five Forces) :
It analyzes the five forces impacting the industry. They are as follows;
• The intensity of Industry Rivals. The businesses operating in the same
industry and their market share makes them industry rivals
• The threat of Potential Entrants. The entrance of the new business in the
industry makes the business environment competitive.
• Bargaining Power of Supplier. If a business depends on the supplies of
suppliers, then they would have a significant influence over your
businesses
• Bargaining Power of Buyer. Here the customers have more negotiating
power over the business. They would demand discounts, better quality,
and economical price
• Threats of Substitute Products. It’s when competitive businesses are
offering similar substitute products of the other industry. substitute’s
products are of two types; same product features with the higher price
and same product features with lower price.
13. 10 Benefits of industry analysis
1. The industry analysis report is beneficialas it helps to assess the profitabilityof a
particular industry
2. It is generallyable to forecast the potentialbehaviorof the competitors
3. Helps to recognize and identify strategies that will prove its worth
4. Industry analysisis a tool to developa competitive strategy that will act as the
best defense against competitiveforces
5. Helps to highlightthe strength and weakness of an organization withits analysis
6. Industry analysispinpointsthe area where strategic changes will yield best
payoffs
7. It emphasizes on the area where the industry trend shows threats or even
opportunities.
8. Industry analysishelps the entrepreneur to know about the position of his
company relativeto the competitors in the industry.
9. Can easily forecast demand and supply and consequentlyabout the financial
gains
10. Industry analysishelps to discover untappedopportunitiesin the industry.
14. 4. Competitor Analysis
• Analyzing organization’s competitors helps an
organization to discover its weaknesses, to identify
opportunities for and threats to the organization from
the industrial environment.
• Competitor analysis is a driver of an organization’s
strategy and effects on how firms act or react in their
sectors.
• The organization does a competitor analysis to
measure/assess its standing amongst the competitors.
• Competitor analysis begins with identifying present as
well as potential competitors
15.
16.
17. • Michael Porter in Porter’s Five Forces
Model has assumed that the competitive
environment within an industrydepends on
five forces:
• Threat of new potential entrants,
• Threat of substitute product/services,
• bargaining power of suppliers,
• bargaining power of buyers,
• Rivalry among current competitors.
18. • The main objectives of doing competitor analysis can be
summarized as follows
• To study the market;
• To predict and forecast organization’s demand and supply;
• To formulate strategy;
• To increase the market share;
• To study the market trend and pattern;
• To develop strategy for organizational growth;
• When the organization is planning for the diversification and
expansion plan;
• To study forthcoming trends in the industry;
• Understanding the current strategy strengths and weaknesses of a
competitor can suggest opportunities and threats that will merit a
response;
• Insight into future competitor strategies may help in predicting
upcoming threats and opportunities.
19.
20. Marketing Research for the New Venture
• Market research is an organized effort to gather
information about target markets or customers. It is a
very important component of business strategy.
• Market research is considered to be indispensable in
order to start a new business venture. As an
entrepreneur,it is a prerequisite to hiring market
research companies to conduct proper research on the
existing marketing scenarios in order to launch a new
service of the product.
• Marketing researchers gather and analyze the
information related to market such as :
21. • Who will buy the product or service?
• What is the size of the potential Market for
the product or service?
• What price should be charged for the product
or service?
• How the product or service should be
promoted in most effective manner?
22. Importance of Market research
Identifying problem and opportunities in the market
• Formulating market strategies
• Determining consumer needs and wants
• For effective communication mix
• For sales forecasting
• To revitalize brands
• Determine export potentials
• Managerial decision-making
• To facilitate smooth introduction of new products
• Better Customer Management.
• Increased Sales.
• Minimize loss in your business
23. Types of Market research
1) Primary Research:
• In this research, new data is gathered directly by the
company or their researchers using different techniques
such as: 1. Interviews 2. Surveys 3. Questionnaire 4. Focus
groups
2) Secondary research
• In this type of research, you collect and analyse secondary
data that has already been published (books, statistical
reports, top market research magazines, etc.).
• There are two methods for collecting this data. They are: 1.
Quantitative methods:-This method employs the statistical
analysis and require a large sample size. 2. Qualitative
methods:-This method is used to get an understanding of
reasons, opinions and motivations.
24. Steps for Market research for the new
venture
• 1) Identification of problem:- • First and foremost should
have a clear understanding about the problem as well the
reason for which the research is undertaken. • The senior
most level of management along with the middle level
management should engage and work together to find the
problem and work on the same.
• 2) Design an appropriate market research plan:- • In this
step, the team of market of marketers and researchers
work together to decide upon the exact details they need
by developing a fool-proof plan to secure it in shortest
possible time and in the best possible way such as
interviewing of the focus group, drafting the perfect market
research questionnaire or by determining a sample
research plan.
25. 3) Data collection:-
• This is the most crucial among all stages of market research services.
• Chances of commitment of mistakes at this stage cannot be ruled
out. Say for instance, in a survey method of research of data
collection, if the respondents are not available, then it becomes
difficult to record the data.
• This might lead to further problems as the decisions would be taken
on the basis of the collected data.
4) Implementation of the market research plan:-
• Once assimilation of data takes place, the market research
department gets down to the work of analyzing and studying the
data collected.
• On the basis of the findings, the next stage of implementation of
information gathered takes place.
• This is the last but most important stage of all stages because if the
management fails to meet the desired results then the need to
revise the process of the market research would arise
26. Forms of business organization:
• The term "business organization" refers to
how a business is structured. It refers to a
commercial or industrialenterprise and the
people who constitute it.
27. TYPES OF BUSINESS ORGANISATIONS
• Sole Proprietorship
• Joint Hindu Family Business
• Partnership Firm
• Joint Stock Company 1.) Private Limited 2.)
Public Limited
• Co-operative Society
28. Sole Proprietorship
• SOLE PROPRIETERSHIPWhen the ownership and
management of a business are in control of one
individual the form of business is called sole
proprietorship.
• CHARACTERISTICS
• The business enterprise is owned by one single
individual (i.e. both profit and risk belong to him)
• Owner is the Manager
• Owner is the only source of Capital
• The proprietor and business enterprise are same in the
eyes of the law.
29.
30. • ADVANTAGES OF SOLE PROPREITORSHIP :
• • Easy formation • Better Control (Prompt
decision making and Flexibility in Operations)
• Subject to fewer regulations • Not subject to
corporate income tax • Ownership of all
profits
• DISADVANTAGES OF SOLE PROPREITORSHIP •
Owner has unlimited liability • Difficult to
raise capital • Business has a limited life •
Difficult to do business beyond a certain size
31. JOINT HINDU FAMILY BUSINESS
• Comes into existence as per the Hindu Inheritance Act
of India • This form of business found only in India • All
members of the Hindu Undivided Family(HUF) own the
business jointly • The affairs of the business are
managed by head of the family called “Karta”. All other
members are called “Co-parceners”
• • Membership is restricted only to members of the
Joint family. No outsider can become the member •
Karta has unlimited liability while all other members
have limited liability • The share of each member
keeps on fluctuating •
32. PARTNERSHIP FIRM
• A Partnership consists of two or more individuals in
business together
CHARACTERISITCS OF PARTNERSHIP
• Minimum 2 number of partners and maximum 20
partners
• The relation between the partners is created in the
form of a contract. Written contract is called
“Partnership Deed”
• The firm means partners, the partners mean the firm •
The profit is divided in any as ratio as agreed
• No partner can sell/transfer his interest in the firm to
anyone without the consent of other partners
33.
34. • ADVANTAGESOF PARTNERSHIP • Easy
Formation • Larger Resources • Sharing Of
Risk • Better Management and Flexibility of
Operation • No corporate income tax •
Subject to fewer regulations as compared to
companies
• DISADVANTAGESOF PARTNERSHIPS •
Unlimited Liability • Limited Life • Difficult to
raise capital • Chances of Dispute
35. JOINT STOCK COMPANY
A joint stockcompany is a voluntary association of people
who contribute money to carry on business. a company or
association consisting of individuals organized to conducta
business for gain and having a joint stock of capital
represented by shares owned individually by the members
and transferable without the consent of the group.
CHARACTERISTICS OF A CORPORATION
• It is considered as a separate legal entity
• It comes into formation after all formalities under the Indian
Companies Act 1956 are completed
• Management and ownership is completely separate
• Capital is raised through shares which are transferable
36.
37.
38. ADVANTAGES OF A CORPORATION
• Limited liability of the shareholders/promoter
• Can easily raise capital
• Have unlimited life
• Ease of transfer of ownership
DISADVANTAGES OF A CORPORATION
• Formation is not easy
• Excessive Government Regulation
• Subject to Corporate Tax and Dividend Tax
(Double Taxation)
• Delay in Policy Decisions
• Control by a Group
39. TWO TYPES OF CORPORATIONS
1. PRIVATE COMPANY
• Closely held by a few people
• Minimum 2 and maximum 50 shareholders
• Stocks cannot be traded on exchanges and private equity
cannot be raised
• Less regulations as compared to Public Companies
2. PUBLIC COMPANY
• Stocks are held by a large number of people
• Minimum 7 shareholders and no limit for maximum
• Can be listed on stock exchange and can go public
• Have to follow many laws with regards to the board
composition and AGM.
40. CO-OPERATIVE SOCIETY
• CO-OPERATIVE SOCIETY It is a voluntary association of
people or business to achieve a an economic social and
cultural needs and aspiration through a jointly owned
and democratically – controlled enterprise.
CHARECTERISTICS OF CO-OPERATIVE
• Voluntary association
• Minimum membership requirement is 10 and there is
no maximum limit
• Registration of Co-operative is must under the “Co-
operative Societies Act” is a must. After the
registration it enjoys certain privileges of a Joint Stock
Company
41.
42. ADVANTAGESOF CO-OPERATIVE
• Easy Formation
• Limited Liability
• Stability
• Democratic Management
• State Assistance
DISADVANTAGESOF A CO-OPERATIVE
• Possibility of conflict
• Long decision making process
• Not enough capital