This document provides an overview of key marketing concepts including the functions of marketing, features of marketing, roles of marketers and marketing management. It discusses marketing management philosophies from production to societal orientation. It also describes the traditional view of markets and how marketing involves satisfying customer needs through exchange. Key functions of marketing are identified as gathering market information, marketing planning, product development, packaging and customer support.
CHAPTER 19 BUSINESS STUDIES NIOS XII
meaning of marketing;
differentiate between ‘marketing’ and ‘selling’;
importance of marketing
objectives of marketing
functions of marketing
This document provides an overview of marketing and marketing management. It defines marketing as a process of creating, distributing, promoting, and pricing goods and services to facilitate satisfying exchange relationships with customers. The core concepts of marketing include needs, wants and demands, products and services, value and satisfaction, exchange and relationships. Marketing philosophies like production, product, selling, and marketing concepts are discussed in relation to a company's orientation. The importance, scope and goals of marketing are also outlined. Marketing management involves planning, organizing, implementing and controlling marketing efforts as part of a company's strategic approach.
This document provides an overview of key marketing concepts including definitions of marketing, the three levels of marketing (philosophy, strategy, operations), the marketing mix, segmentation, targeting, positioning, branding, and marketing communications. It defines marketing as a process of identifying customer needs and wants and fulfilling them profitably. Segmentation involves dividing the market into distinct groups with common traits. Targeting selects the most attractive segments and positioning determines how the product will be perceived relative to competitors in the target segment's mind. The marketing mix or 4Ps (product, price, place, promotion) are the tactical elements used to satisfy the target market.
An Introduction into Marketing Module 1 SlidesBaluJagadish1
This document provides an introduction to marketing. It defines marketing as meeting needs profitably and discusses how marketing is a basic function of all businesses. Traditionally, small businesses did not prioritize marketing but it is now seen as important as other functions. The document also discusses how marketing has shifted from a product orientation to a customer orientation. It provides definitions of marketing from various sources and discusses the scope of marketing, including what can be marketed and who engages in marketing activities.
1. Marketing management combines the fields of marketing and management. Marketing involves understanding customer needs and delivering value through products and services, while management involves achieving organizational goals through planning, organizing, and controlling resources.
2. Marketing management is a business process used to manage marketing activities across different levels of organizations, both for-profit and non-profit. Decisions are based on knowledge of marketing functions and managerial techniques.
3. Marketing management is both a science and an art. As a science, it follows general principles to guide decision making. As an art, it requires creatively handling each situation effectively.
This document provides an overview of key marketing concepts. It defines marketing as identifying and satisfying consumer needs profitably through products, pricing, placement, and promotion. A market consists of potential customers with common needs. Marketing satisfies basic human needs and shaped wants. Customers seek value and satisfaction when choosing between products. Organizations set marketing objectives to align with overall aims. Exchange transactions transfer value between parties and are the core of marketing. The document also outlines different business concepts like production and marketing, and roles of marketing in society and the marketing management process.
Marketing management book @ bec doms bagalkot mbaBabasab Patil
This document outlines 6 units of a marketing management course. The key concepts discussed include the modern marketing concept, social marketing concept, marketing environment, consumer behavior, marketing research, product mix management, product-market integration, price mix management, physical distribution mix, and promotional mix. The modern marketing concept focuses on determining consumer needs and wants and satisfying them through an integrated marketing approach.
Hospitality and tourism marketing m1.pptxMerlynCasem
This document provides an overview of key concepts in marketing. It discusses how marketing focuses on exchange between two parties and identifies consumers' needs and wants. The learning objectives are to discuss marketing and marketing mix, illustrate two approaches to marketing, and define related concepts. The document then defines concepts like exchange, marketing utilities, marketing concepts, and the product, selling, marketing, and societal concepts. It illustrates the traditional and integrated approaches to marketing and defines the marketing mix.
CHAPTER 19 BUSINESS STUDIES NIOS XII
meaning of marketing;
differentiate between ‘marketing’ and ‘selling’;
importance of marketing
objectives of marketing
functions of marketing
This document provides an overview of marketing and marketing management. It defines marketing as a process of creating, distributing, promoting, and pricing goods and services to facilitate satisfying exchange relationships with customers. The core concepts of marketing include needs, wants and demands, products and services, value and satisfaction, exchange and relationships. Marketing philosophies like production, product, selling, and marketing concepts are discussed in relation to a company's orientation. The importance, scope and goals of marketing are also outlined. Marketing management involves planning, organizing, implementing and controlling marketing efforts as part of a company's strategic approach.
This document provides an overview of key marketing concepts including definitions of marketing, the three levels of marketing (philosophy, strategy, operations), the marketing mix, segmentation, targeting, positioning, branding, and marketing communications. It defines marketing as a process of identifying customer needs and wants and fulfilling them profitably. Segmentation involves dividing the market into distinct groups with common traits. Targeting selects the most attractive segments and positioning determines how the product will be perceived relative to competitors in the target segment's mind. The marketing mix or 4Ps (product, price, place, promotion) are the tactical elements used to satisfy the target market.
An Introduction into Marketing Module 1 SlidesBaluJagadish1
This document provides an introduction to marketing. It defines marketing as meeting needs profitably and discusses how marketing is a basic function of all businesses. Traditionally, small businesses did not prioritize marketing but it is now seen as important as other functions. The document also discusses how marketing has shifted from a product orientation to a customer orientation. It provides definitions of marketing from various sources and discusses the scope of marketing, including what can be marketed and who engages in marketing activities.
1. Marketing management combines the fields of marketing and management. Marketing involves understanding customer needs and delivering value through products and services, while management involves achieving organizational goals through planning, organizing, and controlling resources.
2. Marketing management is a business process used to manage marketing activities across different levels of organizations, both for-profit and non-profit. Decisions are based on knowledge of marketing functions and managerial techniques.
3. Marketing management is both a science and an art. As a science, it follows general principles to guide decision making. As an art, it requires creatively handling each situation effectively.
This document provides an overview of key marketing concepts. It defines marketing as identifying and satisfying consumer needs profitably through products, pricing, placement, and promotion. A market consists of potential customers with common needs. Marketing satisfies basic human needs and shaped wants. Customers seek value and satisfaction when choosing between products. Organizations set marketing objectives to align with overall aims. Exchange transactions transfer value between parties and are the core of marketing. The document also outlines different business concepts like production and marketing, and roles of marketing in society and the marketing management process.
Marketing management book @ bec doms bagalkot mbaBabasab Patil
This document outlines 6 units of a marketing management course. The key concepts discussed include the modern marketing concept, social marketing concept, marketing environment, consumer behavior, marketing research, product mix management, product-market integration, price mix management, physical distribution mix, and promotional mix. The modern marketing concept focuses on determining consumer needs and wants and satisfying them through an integrated marketing approach.
Hospitality and tourism marketing m1.pptxMerlynCasem
This document provides an overview of key concepts in marketing. It discusses how marketing focuses on exchange between two parties and identifies consumers' needs and wants. The learning objectives are to discuss marketing and marketing mix, illustrate two approaches to marketing, and define related concepts. The document then defines concepts like exchange, marketing utilities, marketing concepts, and the product, selling, marketing, and societal concepts. It illustrates the traditional and integrated approaches to marketing and defines the marketing mix.
This document provides an overview of basic marketing concepts and terms. It begins by defining marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, or services. It then discusses key concepts like what a market and customer are, different definitions of marketing, and the 7 main functions of marketing: promotion, selling, product management, marketing information management, pricing, financing, and distribution. The document also covers the scope and nature of marketing, the evolution of marketing concepts from a production to social orientation, and 10 core concepts including needs, wants, demand, customer value, exchange, and customer satisfaction.
The document discusses various marketing concepts and philosophies. It defines marketing according to several experts and outlines 6 major marketing concepts: production, product, selling, marketing, societal marketing, and holistic marketing. It also discusses the fundamental principles of the marketing concept, emerging challenges in marketing, and key tasks of marketing management.
This document outlines the key elements of marketing. It discusses the modern marketing concept and different approaches to studying marketing like industrial, consumer, and services marketing. It also covers important marketing topics like consumer behavior, market segmentation, the marketing mix, product planning and development, pricing policies, promotion mix, and personal selling. The document provides a syllabus and outlines lessons that will be covered, including marketing definitions, the marketing concept, consumer behavior, and the product life cycle.
Marketing management book @ bec doms bagalkot mbaBabasab Patil
This document provides an overview of marketing management concepts across 6 units. It discusses key topics such as the modern marketing concept, social marketing concept, marketing environment, consumer behavior, marketing research, product mix management, product-market integration, price mix management, physical distribution mix, and promotional mix. The goals are to understand approaches to marketing, segmentation, the marketing mix, determinants of consumer behavior, marketing procedures, product planning, pricing policies, distribution channels, and components of promotion.
The document discusses key marketing concepts including:
- The definition of marketing as a social and managerial process to satisfy needs through product creation and exchange.
- The objectives of marketing which include increasing sales, creating goodwill, profit through customer satisfaction, and more.
- The distinction between marketing and selling, where marketing focuses on customer needs and selling focuses on product sales.
- Marketing classifications based on place, time, and competition.
- An overview of marketing management and the production, product, selling, marketing, and societal concepts in marketing.
Introduction to marketing management-1.pdfOshadiVindika
This document defines key marketing terms and concepts. It begins by defining market, marketing, and marketing management. It then provides definitions of marketing from the AMA and Philip Kotler. Marketing management is explained as planning and executing ideas, goods, and services to create value for customers. The goals of marketing are to attract new customers and keep current customers. Several marketing philosophies are outlined, including the production, product, selling, marketing, and societal concepts. The marketing process and core concepts around needs, products, value, exchange, and markets are also summarized.
This document provides an overview of key marketing concepts. It defines marketing as a social process involving the exchange of goods and services to satisfy needs and wants. The core concepts discussed include needs, wants and demand, products and services, customer value, exchange and relationships. It also distinguishes between selling and marketing, and describes the marketing concept orientation which focuses on customer needs rather than production. Key elements of the marketing environment, including internal factors like staff and resources, and micro factors like customers and suppliers, are also summarized.
This document provides an overview of marketing concepts including definitions of marketing, the marketing process, marketing environment, and market segmentation, targeting, and positioning.
It defines marketing as a planned process to identify customer needs and satisfy them through products and services. The key aspects of the marketing process are identified as environmental scanning, identifying customer needs and wants, developing products/services, determining value and cost, exchange, customer relationship management, and understanding customer behavior.
It also describes the various components of the marketing environment including microenvironment factors like suppliers, marketing intermediaries and competitors as well as macroenvironment factors such as political, economic, technological, cultural, and natural forces.
Market segmentation involves dividing the market into distinct groups based
This document provides an overview of marketing management concepts from the perspective of an instructor. It contains:
1) Definitions of management, market, and marketing. Marketing is defined as planning and executing the conception, pricing, promotion, and distribution of goods and services to create exchanges that satisfy objectives.
2) Descriptions of different philosophies companies can take regarding their orientation toward customers, including production, product, and marketing concepts.
3) An outline of the scope of marketing management, which encompasses understanding customer needs, product development, distribution channels, pricing, promotion, and more.
4) Discussions of the internal and external factors that comprise a company's marketing environment, including suppliers, customers,
Hey guys, this presentation is all about marketing starting with a crisp and clear introduction and this ppt focusses on all important aspects related to marketing whether be it decision making, marketing process, marketig analysis, marketing utilities, marketing management concepts, marketing planning, traditional & modern approaches of marketing, a full coverage of 7 Ps of marketing mix as well as various important marketing strategy techniques along with relevant diagrams & charts & illutrative examples.
The document provides an overview of the nature and scope of marketing. It defines marketing according to various authorities and outlines its core concepts. Marketing is defined as the process of creating, communicating, and delivering value to customers and managing customer relationships. The key elements of the marketing environment, including the internal, micro, and macro environments are described. The document also discusses customer satisfaction, value, and Michael Porter's value chain model.
The document discusses the evolution of marketing orientations over time. It describes the production, product, selling, and marketing orientations used by firms from the 1950s to present. The production orientation focused on high production output, while the product orientation emphasized product quality. The selling orientation promoted existing products. Currently, most firms use the marketing orientation, which involves understanding customer wants through research and developing products accordingly.
The document discusses the key elements of a marketing system. It contrasts the marketing concept with the selling concept. The marketing concept focuses on determining customer needs and wants, then developing products and services to satisfy those needs. In contrast, the selling concept focuses on promoting and selling products with the goal of maximizing profits. The elements of a marketing system include product planning and development, pricing, promotion, and distribution to reach customers and satisfy existing human needs and wants. The goal is to efficiently utilize resources to satisfy customer needs in a profitable and socially responsible manner.
mba ist year course Marketing managemet.pptxmbadepartment5
The document provides an overview of key marketing concepts. It defines marketing as satisfying customer needs through the exchange of goods and services. The marketing concept holds that organizations should determine customer needs and meet them more effectively than competitors. There are various philosophies of marketing such as production, product, and selling concepts which focus on outputs rather than customer needs. Marketing differs from selling in that it focuses on customer needs rather than pushing existing products. Marketing also occurs in a changing environment consisting of micro factors like suppliers and macro factors like the economy.
This document provides an overview of marketing concepts and the marketing environment. It begins with definitions of marketing from various scholars such as the American Marketing Association, Philip Kotler, and Peter Drucker. It then discusses the types of marketing including traditional, digital, social, and mobile marketing. Next, it explores the internal and external factors that make up the marketing environment, including customers, competitors, public, suppliers, economic conditions, technology, and government regulations. Environmental scanning techniques like SWOT analysis, PEST analysis, and Porter's Five Forces model are also summarized. The document aims to give the reader a high-level understanding of foundational marketing concepts.
Introduction to marketing principles week 1Rachel Coles
This document provides an introduction to marketing principles. It defines marketing as creating, communicating, delivering, and exchanging offerings of value for customers. Marketing involves understanding customer needs and wants in order to meet them. A business uses a marketing mix of product, price, place, and promotion to develop a value proposition and target specific customer segments. An orientation focused on customer satisfaction through understanding needs and building relationships leads to greater success than sales-driven approaches.
The document provides an overview of key marketing concepts. It begins by defining marketing and explaining that marketing involves satisfying consumer needs through the entire process from identifying wants to fulfilling them. It then discusses the marketing mix, also known as the 4Ps (Product, Price, Place, Promotion). The document also covers market segmentation, targeting, and positioning. Market segmentation involves dividing the market into distinct groups with unique needs. Targeting involves selecting specific segments to target, while positioning is how the product or brand is defined in consumers' minds relative to competitors.
This document provides an overview of key concepts in marketing, including definitions of marketing, products, needs and wants, value, exchange and relationships. It discusses marketing management philosophies like the production, product, selling and marketing concepts. It also outlines the marketing management process of analyzing situations, setting objectives and strategies, implementing tactics, and controlling results. The main goal of marketing is to manage markets to facilitate exchanges that satisfy human needs and wants.
This document provides an overview of key concepts in marketing, including definitions of marketing, products, needs and wants, value, exchange and relationships. It discusses marketing management philosophies like the production, product, selling and marketing concepts. It also outlines the marketing management process of analyzing situations, setting objectives and strategies, implementing tactics, and controlling results. The main goal of marketing is to manage markets to facilitate exchanges that satisfy human needs and wants.
Empowering Influencers: The New Center of Brand-Consumer Dynamics
In the current market landscape, establishing genuine connections with consumers is crucial. This presentation, "Empowering Influencers: The New Center of Brand-Consumer Dynamics," explores how influencers have become pivotal in shaping brand-consumer relationships. We will examine the strategic use of influencers to create authentic, engaging narratives that resonate deeply with target audiences, driving success in the evolved purchase funnel.
This document provides an overview of basic marketing concepts and terms. It begins by defining marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, or services. It then discusses key concepts like what a market and customer are, different definitions of marketing, and the 7 main functions of marketing: promotion, selling, product management, marketing information management, pricing, financing, and distribution. The document also covers the scope and nature of marketing, the evolution of marketing concepts from a production to social orientation, and 10 core concepts including needs, wants, demand, customer value, exchange, and customer satisfaction.
The document discusses various marketing concepts and philosophies. It defines marketing according to several experts and outlines 6 major marketing concepts: production, product, selling, marketing, societal marketing, and holistic marketing. It also discusses the fundamental principles of the marketing concept, emerging challenges in marketing, and key tasks of marketing management.
This document outlines the key elements of marketing. It discusses the modern marketing concept and different approaches to studying marketing like industrial, consumer, and services marketing. It also covers important marketing topics like consumer behavior, market segmentation, the marketing mix, product planning and development, pricing policies, promotion mix, and personal selling. The document provides a syllabus and outlines lessons that will be covered, including marketing definitions, the marketing concept, consumer behavior, and the product life cycle.
Marketing management book @ bec doms bagalkot mbaBabasab Patil
This document provides an overview of marketing management concepts across 6 units. It discusses key topics such as the modern marketing concept, social marketing concept, marketing environment, consumer behavior, marketing research, product mix management, product-market integration, price mix management, physical distribution mix, and promotional mix. The goals are to understand approaches to marketing, segmentation, the marketing mix, determinants of consumer behavior, marketing procedures, product planning, pricing policies, distribution channels, and components of promotion.
The document discusses key marketing concepts including:
- The definition of marketing as a social and managerial process to satisfy needs through product creation and exchange.
- The objectives of marketing which include increasing sales, creating goodwill, profit through customer satisfaction, and more.
- The distinction between marketing and selling, where marketing focuses on customer needs and selling focuses on product sales.
- Marketing classifications based on place, time, and competition.
- An overview of marketing management and the production, product, selling, marketing, and societal concepts in marketing.
Introduction to marketing management-1.pdfOshadiVindika
This document defines key marketing terms and concepts. It begins by defining market, marketing, and marketing management. It then provides definitions of marketing from the AMA and Philip Kotler. Marketing management is explained as planning and executing ideas, goods, and services to create value for customers. The goals of marketing are to attract new customers and keep current customers. Several marketing philosophies are outlined, including the production, product, selling, marketing, and societal concepts. The marketing process and core concepts around needs, products, value, exchange, and markets are also summarized.
This document provides an overview of key marketing concepts. It defines marketing as a social process involving the exchange of goods and services to satisfy needs and wants. The core concepts discussed include needs, wants and demand, products and services, customer value, exchange and relationships. It also distinguishes between selling and marketing, and describes the marketing concept orientation which focuses on customer needs rather than production. Key elements of the marketing environment, including internal factors like staff and resources, and micro factors like customers and suppliers, are also summarized.
This document provides an overview of marketing concepts including definitions of marketing, the marketing process, marketing environment, and market segmentation, targeting, and positioning.
It defines marketing as a planned process to identify customer needs and satisfy them through products and services. The key aspects of the marketing process are identified as environmental scanning, identifying customer needs and wants, developing products/services, determining value and cost, exchange, customer relationship management, and understanding customer behavior.
It also describes the various components of the marketing environment including microenvironment factors like suppliers, marketing intermediaries and competitors as well as macroenvironment factors such as political, economic, technological, cultural, and natural forces.
Market segmentation involves dividing the market into distinct groups based
This document provides an overview of marketing management concepts from the perspective of an instructor. It contains:
1) Definitions of management, market, and marketing. Marketing is defined as planning and executing the conception, pricing, promotion, and distribution of goods and services to create exchanges that satisfy objectives.
2) Descriptions of different philosophies companies can take regarding their orientation toward customers, including production, product, and marketing concepts.
3) An outline of the scope of marketing management, which encompasses understanding customer needs, product development, distribution channels, pricing, promotion, and more.
4) Discussions of the internal and external factors that comprise a company's marketing environment, including suppliers, customers,
Hey guys, this presentation is all about marketing starting with a crisp and clear introduction and this ppt focusses on all important aspects related to marketing whether be it decision making, marketing process, marketig analysis, marketing utilities, marketing management concepts, marketing planning, traditional & modern approaches of marketing, a full coverage of 7 Ps of marketing mix as well as various important marketing strategy techniques along with relevant diagrams & charts & illutrative examples.
The document provides an overview of the nature and scope of marketing. It defines marketing according to various authorities and outlines its core concepts. Marketing is defined as the process of creating, communicating, and delivering value to customers and managing customer relationships. The key elements of the marketing environment, including the internal, micro, and macro environments are described. The document also discusses customer satisfaction, value, and Michael Porter's value chain model.
The document discusses the evolution of marketing orientations over time. It describes the production, product, selling, and marketing orientations used by firms from the 1950s to present. The production orientation focused on high production output, while the product orientation emphasized product quality. The selling orientation promoted existing products. Currently, most firms use the marketing orientation, which involves understanding customer wants through research and developing products accordingly.
The document discusses the key elements of a marketing system. It contrasts the marketing concept with the selling concept. The marketing concept focuses on determining customer needs and wants, then developing products and services to satisfy those needs. In contrast, the selling concept focuses on promoting and selling products with the goal of maximizing profits. The elements of a marketing system include product planning and development, pricing, promotion, and distribution to reach customers and satisfy existing human needs and wants. The goal is to efficiently utilize resources to satisfy customer needs in a profitable and socially responsible manner.
mba ist year course Marketing managemet.pptxmbadepartment5
The document provides an overview of key marketing concepts. It defines marketing as satisfying customer needs through the exchange of goods and services. The marketing concept holds that organizations should determine customer needs and meet them more effectively than competitors. There are various philosophies of marketing such as production, product, and selling concepts which focus on outputs rather than customer needs. Marketing differs from selling in that it focuses on customer needs rather than pushing existing products. Marketing also occurs in a changing environment consisting of micro factors like suppliers and macro factors like the economy.
This document provides an overview of marketing concepts and the marketing environment. It begins with definitions of marketing from various scholars such as the American Marketing Association, Philip Kotler, and Peter Drucker. It then discusses the types of marketing including traditional, digital, social, and mobile marketing. Next, it explores the internal and external factors that make up the marketing environment, including customers, competitors, public, suppliers, economic conditions, technology, and government regulations. Environmental scanning techniques like SWOT analysis, PEST analysis, and Porter's Five Forces model are also summarized. The document aims to give the reader a high-level understanding of foundational marketing concepts.
Introduction to marketing principles week 1Rachel Coles
This document provides an introduction to marketing principles. It defines marketing as creating, communicating, delivering, and exchanging offerings of value for customers. Marketing involves understanding customer needs and wants in order to meet them. A business uses a marketing mix of product, price, place, and promotion to develop a value proposition and target specific customer segments. An orientation focused on customer satisfaction through understanding needs and building relationships leads to greater success than sales-driven approaches.
The document provides an overview of key marketing concepts. It begins by defining marketing and explaining that marketing involves satisfying consumer needs through the entire process from identifying wants to fulfilling them. It then discusses the marketing mix, also known as the 4Ps (Product, Price, Place, Promotion). The document also covers market segmentation, targeting, and positioning. Market segmentation involves dividing the market into distinct groups with unique needs. Targeting involves selecting specific segments to target, while positioning is how the product or brand is defined in consumers' minds relative to competitors.
This document provides an overview of key concepts in marketing, including definitions of marketing, products, needs and wants, value, exchange and relationships. It discusses marketing management philosophies like the production, product, selling and marketing concepts. It also outlines the marketing management process of analyzing situations, setting objectives and strategies, implementing tactics, and controlling results. The main goal of marketing is to manage markets to facilitate exchanges that satisfy human needs and wants.
This document provides an overview of key concepts in marketing, including definitions of marketing, products, needs and wants, value, exchange and relationships. It discusses marketing management philosophies like the production, product, selling and marketing concepts. It also outlines the marketing management process of analyzing situations, setting objectives and strategies, implementing tactics, and controlling results. The main goal of marketing is to manage markets to facilitate exchanges that satisfy human needs and wants.
Empowering Influencers: The New Center of Brand-Consumer Dynamics
In the current market landscape, establishing genuine connections with consumers is crucial. This presentation, "Empowering Influencers: The New Center of Brand-Consumer Dynamics," explores how influencers have become pivotal in shaping brand-consumer relationships. We will examine the strategic use of influencers to create authentic, engaging narratives that resonate deeply with target audiences, driving success in the evolved purchase funnel.
Mastering Local SEO for Service Businesses in the AI Era"" is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
THE STORY COMMUNICATION Credential 2024.pptxhuyenngo62
The Story Communication là công ty quảng cáo truyền thông tích hợp (IMC) được xây dựng trên thế mạnh về Digital & Performance.
#Assemble #Integrity #Transformation #Initiative
INTRODUCTION TO SEARCH ENGINE OPTIMIZATION (SEO).pptxGiorgio Chiesa
This presentation is recommended for those who want to know more about SEO. It explains the main theoretical and practical aspects that influence the positioning of websites in search engines.
We’ve entered a new era in digital. Search and AI are colliding, in more ways than one. And they all have major implications for marketers.
• SEOs now use AI to optimize content.
• Google now uses AI to generate answers.
• Users are skipping search completely. They can now use AI to get answers. So AI has changed everything …or maybe not. Our audience hasn’t changed. Their information needs haven’t changed. Their perception of quality hasn’t changed. In reality, the most important things haven’t changed at all. In this session, you’ll learn the impact of AI. And you’ll learn ways that AI can make us better at the classic challenges: getting discovered, connecting through content and staying top of mind with the people who matter most. We’ll use timely tools to rebuild timeless foundations. We’ll do better basics, but with the most advanced techniques. Andy will share a set of frameworks, prompts and techniques for better digital basics, using the latest tools of today. And in the end, Andy will consider - in a brief glimpse - what might be the biggest change of all, and how to expand your footprint in the new digital landscape.
Key Takeaways:
How to use AI to optimize your content
How to find topics that algorithms love
How to get AI to mention your content and your brand
Customer Experience is not only for B2C and big box brands. Embark on a transformative journey into the realm of B2B customer experience with our masterclass. In this dynamic session, we'll delve into the intricacies of designing and implementing seamless customer journeys that leave a lasting impression. Explore proven strategies and best practices tailored specifically for the B2B landscape, learning how to navigate complex decision-making processes and cultivate meaningful relationships with clients. From initial engagement to post-sale support, discover how to optimize every touchpoint to deliver exceptional experiences that drive loyalty and revenue growth. Join us and unlock the keys to unparalleled success in the B2B arena.
Key Takeaways:
1. Identify your customer journey and growth areas
2. Build a three-step customer experience strategy
3. Put your CX data to use and drive action in your organization
Basic Management Concepts., “Management is the art of getting things done thr...DilanThennakoon
The managers achieve organizational objectives by getting work from
others and not performing in the tasks themselves.
Management is an art and science of getting work done through people.
It is the process of giving direction and controlling the various activities
of the people to achieve the objectives of an organization Management is a universal process in all organized, social and economic activities. Wherever
there is human activity there is management.
Management is a vital aspect of the economic life of man, which is an organized group activity. A
central directing and controlling agency is indispensable for a business concern. The productive
resources –material, labour, capital etc. are entrusted to the organizing skill, administrative ability
and enterprising initiative of the management. Thus, management provides leadership to a
business enterprise. Without able managers and effective managerial leadership the resources of
production remain merely resources and never become production. Management occupies such an
important place in the modern world that the welfare of the people and the destiny of the country
are very much influenced by it.
1.2 MEANING OF MANAGEMENT
Management is a technique of extracting work from others in an integrated and co-ordinated
manner for realizing the specific objectives through productive use of material resources.
Mobilising the physical, human and financial resources and planning their utilization for business
operations in such a manner as to reach the defined goals can be benefited to as management.
1.3 DEFINITION OF MANAGEMENT
Management may be defined in many different ways. Many eminent authors on the subject have
defined the term "management". Some of these definitions are reproduced below:
In the words of George R Terry - "Management is a distinct process consisting of planning,
organising, actuating and controlling performed to determine and accomplish the objectives by the
use of people and resources".
According to James L Lundy - "Management is principally the task of planning, co¬ordinating,
motivating and controlling the efforts of others towards a specific objective",
In the words of Henry Fayol - "To manage is to forecast and to plan, to organise, to command, to
co-ordinate and to control".
According to Peter F Drucker - "Management is a multipurpose organ that manages a business and
manages managers and manages worker and work".
In the words of J.N. Schulze - "Management is the force which leads, guides and directs an
organisation in the accomplishment of a pre-determined object".
In the words of Koontz and O'Donnel - "Management is defined as the creation and maintenance
of an internal environment in an enterprise where individuals working together in groups can
perform efficiently and effectively towards the attainment of group goals".
According to Ordway Tead - "Management is the process and agency which directs and guides the
operations of an organisation in realising of established aim
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...Amsive
Lily Ray, Vice President of SEO Strategy & Research at Amsive, explores optimizing strategies for sustainable growth and explores the impact of AI on the SEO landscape.
Conferences like DigiMarCon provide ample opportunities to improve our own marketing programs by learning from others. But just because everyone is jumping on board with the latest idea/tool/metric doesn’t mean it works – or does it? This session will examine the value of today’s hottest digital marketing topics – including AI, paid ads, and social metrics – and the truth about what these shiny objects might be distracting you from.
Key Takeaways:
- How NOT to shoot your digital program in the foot by using flashy but ineffective resources
- The best ways to think about AI in connection with digital marketing
- How to cut through self-serving marketing advice and engage in channels that truly grow your business
Did you know that while 50% of content on the internet is in English, English only makes up 26% of the world’s spoken language? And yet 87% of customers won’t buy from an English only website.
Uncover the immense potential of communicating with customers in their own language and learn how translation holds the key to unlocking global growth. Join Smartling CEO, Bryan Murphy, as he reveals how translation software can streamline the translation process and seamlessly integrate into your martech stack for optimal efficiency. And that's not all – he’ll also share some inspiring success stories and practical tips that will turbocharge your multilingual marketing efforts!
Key takeaways:
1. The growth potential of reaching customers in their native language
2. Tips to streamline translation with software and integrations to your tech stack
3. Success stories from companies that have increased lead generation, doubled revenue, and more with translation
Breaking Silos To Break Bank: Shattering The Divide Between Search And SocialNavah Hopkins
At Mozcon 2024 I shared this deck on bridging the divide between search and social. We began by acknowledging that search-first marketers are used to different rules of engagement than social marketers. We also looked at how both channels treat creative, audiences, bidding/budgeting, and AI. We finished by going through how they can win together including UTM audits, harvesting comments from both to inform creative, and allowing for non-login forums to be part of your marketing strategy.
I themed this deck using Baldur's Gate 3 characters: Gale as Search and Astarion as Social
The Strategic Impact of Storytelling in the Age of AI
In the grand tapestry of marketing, where algorithms analyze data and artificial intelligence predicts trends, one essential thread remains constant — the timeless art of storytelling. As we stand on the precipice of a new era driven by AI, join me in unraveling the narrative alchemy that transforms brands from mere entities into captivating tales that resonate across the digital landscape. In this exploration, we will discover how, in the face of advancing technology, the human touch of a well-crafted story becomes not just a marketing tool but the very essence that breathes life into brands and forges lasting connections with our audience.
From Hope to Despair The Top 10 Reasons Businesses Ditch SEO Tactics.pptxBoston SEO Services
From Hope to Despair: The Top 10 Reasons Businesses Ditch SEO Tactics
Are you tired of seeing your business's online visibility plummet from hope to despair? When it comes to SEO tactics, many businesses find themselves grappling with challenges that lead them to abandon their strategies altogether. In a digital landscape that's constantly evolving, staying on top of SEO best practices is crucial to maintaining a competitive edge.
In this blog, we delve deep into the top 10 reasons why businesses ditch SEO tactics, uncovering the pain points that may resonate with you:
1. Algorithm Changes: The ever-changing algorithms can leave businesses feeling like they're chasing a moving target. Search engines like Google frequently update their algorithms to improve user experience and provide more relevant search results. However, these updates can significantly impact your website's visibility and ranking if you're not prepared.
2. Lack of Results: Investing time and resources without seeing tangible results can be disheartening. The absence of immediate results often leads businesses to lose faith in their SEO strategies. It's important to remember that SEO is a long-term game that requires patience and consistent effort.
3. Technical Challenges: From site speed issues to complex metadata implementation, technical hurdles can be daunting. Overcoming these challenges is crucial for SEO success, as technical issues can hinder your website's performance and user experience.
4. Keyword Competition: Fierce competition for top keywords can make it hard to rank effectively. Businesses often struggle to find the right balance between targeting high-traffic keywords and finding less competitive, niche keywords that can still drive significant traffic.
5. Lack of Understanding of SEO Basics: Many businesses dive into the complex world of SEO without fully grasping the fundamental principles. This lack of understanding can lead to several issues:
Keyword Awareness: Failing to recognize the importance of keyword research and targeting the right keywords in content.
On-Page Optimization: Ignorance regarding crucial on-page elements such as meta tags, headers, and content structure.
Technical SEO Best Practices: Overlooking essential aspects like site speed, mobile responsiveness, and crawlability.
Backlinks: Not understanding the value of high-quality backlinks from reputable sources.
Analytics: Failing to track and analyze data prevents businesses from optimizing their SEO efforts effectively.
6. Unrealistic Expectations and Timeframe: Entrepreneurs often fall prey to the allure of quick fixes and overnight success. Unrealistic expectations can overshadow the reality of the time and effort needed to see tangible results in the highly competitive digital landscape. SEO is a long-term strategy, and setting realistic goals is crucial for success.
#SEO #DigitalMarketing #BusinessGrowth #OnlineVisibility #SEOChallenges #BostonSEO
If you’re at all interested in digital
marketing and in making a name for
your brand online, then it is crucial that
you understand how to properly make
use of content marketing. Content
marketing is currently one of the
biggest trends in digital marketing as a
whole and is an area that many website owners and brands are investing in
heavily right now thanks to the impressive returns that they are seeing.
2025 Adventur ehomes Product Guide released Jun 1 2024
XIIBS_CH11_Kavi.pptx
1.
2. INDEX
INTRODUCTION TO MARKETING
FUNCTIONS OF MARKETING
ROLE OF MARKETING
MARKETING MIX
PRODUCT
BRANDING
PACKAGING
LABELLING
PRICING
PHYSICAL DISTRIBUTION
PROMOTION MIX
4. MARKET
In the traditional sense, the term ‗market‘ refers to the
place where buyers and sellers gather to enter into
transactions involving the exchange of goods and
services. But in modern marketing , ‗market‘ refers to a
set of actual and potential buyers of a product or service.
5. MARKETING
Traditionally marketing has been referred to as
performance of business activities that direct the flow of
goods and services from producers to consumers. In
modern times, marketing is a social process where in
people interact with others,in order to persuade them to
purchase a product or a service, rather than forcing them
to do so.
7. FEATURES OF MARKETING
Need and want :
The focus of the marketing process is on satisfaction of
the needs and wants of individuals and organisations.
Needs are basic to human beings and do not pertain to
a particular product. Wants, on the other hand, are
culturally defined objects that are potential satisfiers of
needs.
8. FEATURES OF MARKETING
Creating a Market Offering:
Market offering refers to a complete offer for a product
or service, having given features like size, quality, taste,
etc; at a certain price; available at a given outlet or
location and so on. A good ‗market offer‘ is the one
which is developed after analysing the needs and
preferences of the potential buyers.
9. FEATURES OF MARKETING
Customer Value:
A product will be purchased only if it is perceived to be
giving greatest benefit or value for the money. The job
of a marketer, therefore, is to add to the value of the
product so that the customers prefer it in relation to the
competing products and decide to purchase it.
10. FEATURES OF MARKETING
Exchange Mechanism:
The process of marketing works through the exchange
mechanism. The individuals (buyers and sellers) obtain
what they need and want through the process of
exchange. In other words, the process of marketing
involves exchange of products and services for money
or something considered valuable by the people.
12. MARKETER
Marketer refers to anybody who takes more active part
in the process of exchange. Normally it is the seller
who is more active in the exchange process as he/she
analyses the needs of the potential buyers, develops a
market offering and persuades the buyers to buy the
product.
14. MARKETING MANAGEMENT
Marketing management means management of the
marketing function. In other words, marketing
management refers to planning, organising, directing
and control of the activities which facilitate exchange of
goods and services between producers and consumers
or users of products and services.
16. MARKETING MANAGEMENT PROCESS
Choosing a target market :
The category of customers to whom the products /
service to be marketed should be clearly specified. E.g.
readymade garments for children up to the age of 5 years
17. MARKETING MANAGEMENT PROCESS
Create demand for products:
marketer has to create demand for his products so that
the target customers purchase the product, keep them
satisfied with the firm‘s products and also attract more
customers to the firm‘s products so that the firm can
grow.
18. MARKETING MANAGEMENT PROCESS
Create superior values:
the primary job of a marketing manager is to create
superior values so that the customers are attracted to
the products and services and communicate these
values to the prospective buyers and persuade them to
buy these products.
20. MARKETING AND SELLING
Marketing involves whole range of activities relating to
planning, pricing, promoting and distributing the
products that satisfy customer‘s needs. The function of
selling, on the other hand, is to transfer the title of the
product from seller to buyer. In other words, selling
means to convert the product into cash.
21. SELLING VS MARKETING
SELLING MARKETING
Selling is only a part
of the marketing
process.
Marketing is a much
wider term consisting
of number of
activities including
sales
SCOPE
1
It is the transfer of
title and Possession
of goods from sellers
to consumers or
users.
It‘s focus is to achieve
maximum satisfaction
of the customer‘s
needs and wants.
FOCUS
2
22. SELLING VS MARKETING
SELLING MARKETING
The emphasis is on
profit maximisation
through maximisation
of sales.
It is concerned with
customer satisfaction
and thereby Incre-
asing profit in the
long run.
ULTIMA
TE
AIM
3
Selling activities start
after the product has
been developed.
It starts before the
product is produced
and continue even
after the product has
been sold.
START &
END
4
23. SELLING VS MARKETING
SELLING MARKETING
The emphasis is on
bending the customer
according to the
product
The attempt is to
develop the product
and other strategies
as per the customer
needs.
EMPHASIS
5
Selling involves
efforts like promotion
and Persuasion.
It uses integrated
marketing efforts
involving strategies in
respect of product,
promotion, pricing etc
STRATE-
GIES
6
25. MARKETING MANAGEMENT PHILOSOPHIES
Production concept:
Here,it was believed that profits could be maximised by
producing at large scale, thereby reducing the average cost
of production. It was also assumed that consumers would
favour those products which were widely available at an
affordable price. Therefore, greater emphasis was given to
the production and distribution efficiency of the firms.
26. MARKETING MANAGEMENT PHILOSOPHIES
Product Concept:
With the increase in the supply of the products, customers
started looking for products which were superior in quality,
performance and features. Therefore, the emphasis of the
firms shifted from quantity of production to quality of
products. Thus, product improvement became the key to
profit maximisation of a firm, under the concept of product
orientation.
27. MARKETING MANAGEMENT PHILOSOPHIES
Selling Concept:
It was assumed that the customers would not buy, or not
buy enough, unless they are adequately convinced and
motivated to do so. Therefore, firms must undertake
aggressive selling and promotional efforts to make
customers buy their products. Thus, the focus of business
firms shifted to pushing the sale of products through
aggressive selling techniques.
28. MARKETING MANAGEMENT PHILOSOPHIES
Marketing Concept:
Marketing orientation implies that focus on satisfaction of
customer‘s needs is the key to the success of any
organisation in the market. It assumes that in the long run
an organisation can achieve its objective of maximisation
of profit by identifying the needs of its present and
prospective buyers and satisfying
them in an effective way. Customer‘s satisfaction become
the focal point of all decision making in the organisation.
29. MARKETING MANAGEMENT PHILOSOPHIES
The Societal Marketing Concept:
This concept consider the challenges posed by social
problems like environmental pollution, deforestation,
shortage of resources, population etc. It is so because
any activity which satisfies human needs but is
detrimental to the interests of the society cannot be
justified. The business should consider large issues of
long-term social welfare.
30.
31. FUNCTIONS OF MARKETING
Gathering and Analysing Market Information:
It is an important function. It is necessary to identify the
needs of the customers and take various decisions for
the successful marketing of the products and services.
This is important for making an analysis of the available
opportunities and threats as well as strengths and
weaknesses of the organisation and help in deciding
what opportunities can best be pursued by it.
32. FUNCTIONS OF MARKETING
Marketing Planning:
It is another important activity or area of work of a
marketer. He will have to develop a complete marketing
plan covering various important aspects including the
plan for increasing the level of production, promotion of
the products, etc. and specify the action programmes to
achieve these objectives.
33. FUNCTIONS OF MARKETING
Product Designing and Development:
The design of the product contributes to making the
product attractive to the target customers. A good design
can improve performance of a product and also give it a
competitive advantage in the market. we plan to buy a
product considering it‘s features and design aspects.
34. FUNCTIONS OF MARKETING
Standardisation and Grading:
Standardisation refers to producing goods of
predetermined specifications, which helps in achieving
uniformity and consistency in the output.
Standardisation ensures the buyers that goods conform
to the predetermined standards of quality, price and
packaging. >>
35. FUNCTIONS OF MARKETING
Grading is the process of classification of products into
different groups, on the basis of some of its important
characteristics such as quality, size, etc. Grading is
particularly necessary for products which are not
produced according to predetermined specifications.
36. FUNCTIONS OF MARKETING
Packaging and Labelling:
Packaging refers to designing the package for the
products. It is important not only for protection of the
products but also serves as a promotional tool.
Labelling refers to designing the label to be put on the
package. A label gives a short description about the
product attached to it such as ingredients , quantity, date
of manufacture etc.
37. FUNCTIONS OF MARKETING
Branding:
It refers to the process of giving a name or symbol to a
product for identifying or distinguishing it from those of
their competitors. Brand name helps in creating product
differentiations .Selection of the brand name plays
important role in the success of a product.
38. FUNCTIONS OF MARKETING
Customer Support Services:
It relates to developing customer support services such
as after sales services, handling customer complaints
and adjustments, procuring credit services, maintenance
services, technical services and consumer information.
All these services aim at providing maximum satisfac-
tion to the customers. Customer support brings repeat
sales and develops brand loyality for a product.
39. FUNCTIONS OF MARKETING
Pricing of Products:
Price of product refers to the amount of money
customers have to pay to obtain a product.(i.e exchange
value).It is an important factor affecting the success or
failure of a product in the market. The demand for a
product or service is related to its price. Generally lower
the price, higher would be the demand for the product
and vice-versa.
40. FUNCTIONS OF MARKETING
Promotion:
Promotion of products and services involves informing
the customers about the firm‘s product, its features, etc.
and persuading them to purchase these products. The
four important methods of promotion include advertis-
ing, Personal Selling, Publicity and Sales Promotion. A
marketer has to take several crucial, decisions in respect
of promotion.
41. FUNCTIONS OF MARKETING
Physical Distribution:
The two major decision areas under this function include
(a)decision regarding channels of distribution or the
marketing intermediaries (like whole salers, retailers) to
be used and
(b)physical movement of the product from producer to
the final consumer.
The important decision areas here include managing
inventory, storage and warehousing and transportation
of goods from one place to the other.
42. FUNCTIONS OF MARKETING
Transportation:
Transportation involves physical movement of goods
from one place to the other. A marketing firm has to
analyse its transportation needs after taking into consi-
deration various factors such as nature of the product,
cost and location of target market and take decisions in
respect of mode of transportation to be chosen and
other related aspects.
43. FUNCTIONS OF MARKETING
Storage or Warehousing:
Usually there is a time gap between the production or
procurement of goods and their sale or use. It may be
because of seasonal demand, seasonal production etc.
In order to maintain smooth flow of products in the
market, there is a need for proper storage of the prod-
ucts. Further, there is a need for storage of adequate
stock of goods to protect against contingencies.
44.
45. ROLE OF MARKETING
Role in a Firm :
The modern concept of marketing plays a significant role in
achieving the objectives of a firm. It emphasises that
customer satisfaction is the key to the survival and growth
of an organisation in the contemporary competitive
Marketing environment. It helps in focusing the activities of
an organisation on the needs and wants of the customers.
marketing plays a crucial role in the
survival and growth of a firm.
46. ROLE OF MARKETING
Role in the Economy:
Marketing plays a significant role in the development of an
economy. It helps in raising the standards of living of the
people. It can inspire people to undertake new activities
and to set up enterprises for producing goods that are
needed by the customers. It can help in overcoming
obstacles posed by high prices due to imbalances in the
levels of production and consumption. It can also ensure
smooth flow of goods and services.
48. MARKETING MIX
From a number of alternatives available, a firm chooses
a particular combination to develop a market offering.
The combination of variables chosen by a firm to prepare
its market offering is called marketing mix. It is
described as the set of marketing tools that a firm uses
to pursue its marketing objectives in a target market.
50. ELEMENTS OF MARKETING MIX
Product:
Product means goods or services or ‗anything of value‘,
which is offered to the market for exchange. The
important product decisions include deciding about the
features, quality, packaging, labelling and branding of the
products.
51. ELEMENTS OF MARKETING MIX
Price:
Price is the amount of money customers have to pay to
obtain the product. In case of most of the products, level
of price affects the level of their demand. The marketers
have not only to decide about the objectives of price
setting but to analyse the factors determining the price
and fix a price for the firm‘s products.
52. ELEMENTS OF MARKETING MIX
Place:
Place or Physical Distribution include activities that make
firm‘s products available to the target customers. Important
decision areas in this respect include selection of dealers
or intermediaries to reach the customers, providing
support to the intermediaries (by way of discounts,
promotional campaigns, etc.). The other decision areas are
managing inventory, storage and warehousing and
transportation of goods from production to consumption.
53. ELEMENTS OF MARKETING MIX
Promotion:
Promotion of products and services include activities
that communicate availability, features, merits, etc. of the
products to the target customers and persuade them to
buy it. A large number of decisions are to be taken such
as the message, the media to be used etc.
55. PRODUCT
In marketing, product is a mixture of tangible and
intangible attributes, which are capable of being
exchanged for a value, with ability to satisfy customer
needs. Besides physical objects, we also include
services, ideas, persons, and places in the concept of
product. Thus, product may be defined as anything that
can be offered to a market to satisfy a want or need.
58. CONSUMER PRODUCTS
Products, which are purchased by the ultimate
consumers or users for satisfying their personal needs
and desires are referred to as consumer products. The
consumer products have been
classified on the basis of two important factors:
59. CONSUMER PRODUCTS
Convenience Products:
Those consumer products, which are purchased frequ-
ently, immediately and with least time and efforts are
referred to as convenience goods. Examples of such
products are cigarettes, medicines, newspaper, statione-
ry items toothpaste. etc. These products have low unit-
value and are bought in small qualities.
60. CONSUMER PRODUCTS
Shopping Products:
Shopping products are those consumer goods, in the
purchase of which buyers devote considerable time, to
compare the quality, price, style, suitability, etc., at
several stores, before making final purchase. E.g.
clothes, jewellery, furniture etc.
61. CONSUMER PRODUCTS
Speciality Products:
Speciality products are those consumer goods which have certain
special features because of which people make special efforts in
their purchase. The buyers are willing to spend a lot of time and
efforts on the purchase of such products. For example, if there is
a rare collection of artwork or of antiques, some people may be
willing to spend a lot of shopping effort and travel long
distance to buy such products
62. CONSUMER PRODUCTS
Non-durable Products:
The consumer products which are normally consumed in
one or few uses are called non-durable products. From
the marketing point of view, these products generally
command a small margin, should be made available in
many locations and need to be heavily advertised. E.G
soap, tooth paste etc.
63. CONSUMER PRODUCTS
Durable Products:
Those tangible consumer products which normally
survive many uses, for example, refrigerator, radio,
bicycle etc are referred to as durable products. These
goods are generally used for a longer period, command a
higher per unit margin, require greater personal-selling
efforts, guarantees.
64. CONSUMER PRODUCTS
Services:
Services are intangible in form. By services we mean
those activities, benefits or satisfactions, which are
offered for sale, e.g., repairs, hair cutting, services
offered by a doctor etc. They are intangible, cannot be
stored and inseparable from the source.
65. INDUSTRIAL PRODUCTS
Industrial products are those products, which are used
as inputs in producing other products. . In other words,
industrial products are meant for non personal and
business use for producing other products. E.g. raw
materials, engines, machines, tools, etc
67. CHARACTERISTICS OF INDUSTRIAL PRODUCTS
Number of Buyers:
As compared to the consumer products, the numbers of
buyers of industrial products are limited. E.g. sugarcane
is purchased by few producers of sugar, but sugar, which
is a consumer product, is purchased by crores of people
in our country.
68. CHARACTERISTICS OF INDUSTRIAL PRODUCTS
Channel Levels:
Because of limited number of buyers, the sale of
industrial products is generally made with the help of
shorter channels of distribution, i.e., direct selling or one
level channel.
69. CHARACTERISTICS OF INDUSTRIAL PRODUCTS
Geographic Concentration:
Because of location of industries at certain points or
regions, industrial markets are highly concentrated,
geographically. For instance, the demand for power loom
comes from Bombay, Sholapur, Bangalore, etc. where the
textile industry is concentrated in our country.
70. CHARACTERISTICS OF INDUSTRIAL PRODUCTS
Derived Demand:
The demand for industrial products is derived from the
demand for consumer products. For example, the
demand for leather will be derived from demand for
shoes and other leather products in the market.
71. CHARACTERISTICS OF INDUSTRIAL PRODUCTS
Role of Technical Considerations:
Technical considerations assume greater significance in
the purchase of industrial products because these
products are complex products, bought for use in
business operations.
72. CHARACTERISTICS OF INDUSTRIAL PRODUCTS
Reciprocal Buying:
Some big companies from basic industries like oil, steel,
rubber, and medicines resort to the practice of reciprocal
buying. For example, Ashok Leyland may buy tyres and
tubes from MRF, which in turn may buy trucks from
Leyland, whenever it feels the need for the same.
73. CHARACTERISTICS OF INDUSTRIAL PRODUCTS
Leasing Out:
A growing trend in industrial product market is to lease
out rather than to purchase the products on outright
basis because of the heavy price of these products. E.g.
Lease of Machinery.
75. CLASSIFICATION OF INDUSTRIAL PRODUCTS
Materials and Parts:
These include goods that enter the manufacture‘s
products completely. Such goods are of two types:
(a) Raw material
e.g cotton, sugar cane, oil seed ,minerals etc
(b) manufactured material and parts. These are again of
two types – component materials like glass, iron, plastic
etc and component parts such as tyre,electric bulb,
battery etc
76. CLASSIFICATION OF INDUSTRIAL PRODUCTS
Capital Items:
These are such goods that are used in the production of
finished goods. These include: (a) installations like
elevators, mainframe Computers, and (b) equipments like
Hand Tools, Personal Computer, Fax Machines, etc.
77. CLASSIFICATION OF INDUSTRIAL PRODUCTS
Supplies and Business Services:
These are short lasting goods and services that facilitate
developing or managing the finished product. These
include: (a) maintenance and repair items like Paint,
Nails, etc., and (b) operating supplies like Lubricant,
Computer Stationary, Writing Paper, etc.
79. BRANDING
Most marketers give a name to their product, which helps
in identifying and distinguishing their products from the
competitors‘ products. This process of giving a name or
a sign or a symbol etc., to a product is called branding.
80. BRAND
A brand is a name, term, sign, symbol, design or some
combination of them, used to identify the products—
goods or services of one seller or group of sellers and to
differentiate them from those of the competitors. E.g.
Bata, MRF
, TATA etc.
81. BRAND NAME
That part of a brand, which can be spoken, is called a
brand name. In other words, brand name is the verbal
component of a brand. For example, Asian Paints,
Lifebuoy, Dunlop etc
82. BRAND MARK
That part of a brand which can be recognised but which
is not utter able is called brand mark. It appears in the
form of a symbol, design, distinct colour scheme or
lettering. For example, Apple symbol for iphone , Devil of
Onida , Sparrow of Twitter etc.or.
83. TRADE MARK
A brand or part of a brand that is given legal protection is
called trademark. The protection is given against its use
by other firms. Thus the firm, which got its brand
registered, gets the exclusive right for its use. In that
case, no other firm can use such name or mark in the
country.
85. ADVANTAGES OF BRANDING
Enables Marking Product Differentiation:
Branding helps a firm in distinguishing its product from
that of its competitors. This enables the firm to secure
and control the market for its products.
86. ADVANTAGES OF BRANDING
Helps in Advertising and Display Programmes:
A brand aids a firm in its advertising and display
programmes. Without a brand name, the advertiser can
only create awareness for the generic product and can
never be sure of the sale for his product.
87. ADVANTAGES OF BRANDING
Differential Pricing:
Branding enables a firm to charge different price for its
products than that charged by its competitors. This is
possible because if customers like a brand and become
habitual of it, they do not mind paying a little higher for it.
88. ADVANTAGES OF BRANDING
Ease in Introduction of New Product:
If a new product is introduced under a known brand, it
enjoys the reflected glory of the brand and is likely to get
off to an excellent start. Thus, many companies with
established brand names decide to introduce new
products in the same name.
89. ADVANTAGES OF BRANDING
Helps in Product Identification:
Branding helps the customers in identifying the
products. For example, if a person is satisfied with a
particular brand of a product, say tea leaves or detergent
soap, he need not make a close inspection every time, he
has to buy that product.
90. ADVANTAGES OF BRANDING
Ensures Quality:
Branding ensures a particular level of quality of the
product. Thus, whenever there is any deviation in the
quality, the customers can have recourse to the
manufacturer or the marketer. This builds up confidence
of the customers.
91. ADVANTAGES OF BRANDING
Status Symbol:
Some brands become status symbols because of their
quality. The consumers of those brands of products feel
proud of using them and adds to the level of satisfaction
of the customers.
93. CHARACTERISTICS OF A BRAND NAME
i) The brand name should be short, easy to pronounce,
spell, recognise and remember.
(ii)A brand should suggest the product‘s benefits and
qualities.
(iii) A brand name should be distinctive.
(iv)The brand name should be adaptable to packing or
labelling requirements, to different advertising media
and to different Languages.
>>
94. CHARACTERISTICS OF A BRAND NAME
>>
(v)The brand name should be sufficiently versatile to
accommodate new products, which are added to the
product line .
(vi)It should be capable of being registered and
protected legally.
(vii)Chosen name should have staying power i.e., it
should not get out of date.
96. PACKAGING
Packaging refers to the act of designing and producing
the container or wrapper of a product. Packaging plays a
very important role in the marketing success of the
products, particularly the consumer non-durable
products.
98. LEVELS OF PACKAGING
Primary Package:
It refers to the product‘s immediate container. In some
cases, the primary package is kept till the consumer is
ready to use the product (e.g., plastic packet for socks);
whereas in other cases, it is kept throughout the entire
life of the product (e.g. a toothpaste tube, a match box,
etc.)
99. LEVELS OF PACKAGING
Secondary Packaging:
It refers to additional layers of protection that are kept till
the product is ready for use, e.g., a tooth paste usually
comes in a card board box. When, consumers start using
the paste, they will dispose off the box.
100. LEVELS OF PACKAGING
Transportation Packaging:
It refers to further packaging components necessary for
storage, identification or transportation. For example a
toothpaste manufacturer may send the goods to retailers
in corrugated boxes containing 10, 20, or 100 units.
102. IMPORTANCE OF PACKAGING
Rising Standards of Health and Sanitation:
Because of the increasing standards of living in the
country, more and more people have started purchasing
packed goods as the chances of adulteration in such
goods are minimised.
103. IMPORTANCE OF PACKAGING
Self Service Outlets:
The self-service retail outlets are becoming very
popular, particularly in major cities and towns. Because
of this, some of the traditional role assigned to personal
selling in respect of promotion has gone to packaging.
104. IMPORTANCE OF PACKAGING
Innovational Opportunity:
Some of the recent developments in the area of packa-
ging have completely changed the marketing scene in
the country. For example, milk can now be stored for 4-5
days without refrigeration in the recently developed
packing materials. As a result, the scope for the
marketing of such products has increased.
105. IMPORTANCE OF PACKAGING
Product Differentiation:
Packaging is one of the very important means of creating
product differentiation. The colour, size, material etc., of
package makes real difference in the perception of
customers about the quality of the product.
107. FUNCTIONS OF PACKAGING
Product Identification:
Packaging greatly helps in identification of the products
and its quality. For example, Colgate in red colour, or
Ponds cream jar can be easily identified by its package.
108. FUNCTIONS OF PACKAGING
Product Protection:
Packaging protects the contents of a product from
spoilage, breakage, leakage, pilferage, damage, climatic
effect, etc. This kind of protection is required during
storing, distribution and transportation of the product.
109. FUNCTIONS OF PACKAGING
Facilitating Use of the Product:
The size and shape of the package should be such that it
should be convenient to open, handle and use for the
consumers. Cosmetics, medicines and tubes of
toothpastes are good examples of this.
110. FUNCTIONS OF PACKAGING
Product Promotion:
Packaging is also used for promotion purposes. A
startling colour scheme, photograph or typeface may be
used to attract attention of the people at the point of
purchase. In self-service stores, this role of packaging
becomes all the more important
112. LABELLING
Lables are useful in providing detailed information about
the product, its contents, price, quantity, quality, Date of
manufacturing , expiry date, method of use, any
information required by Law, name of manufacturer etc.
114. FUNCTIONS OF LABELLING
Describe the Product and Specify its Contents:
one of the most important functions of labels is to
describe the product, quality or grade, its usage,
cautions in use, etc. and specify its contents.
115. FUNCTIONS OF LABELLING
Identification of the Product or Brand:
The other important function performed by labels is to
help in identifying the product or brand. Other common
identification information provided by the labels include
name and address of the manufacturer, net weight when
packed, manufacturing date, maximum retail price and
Batch number.
116. FUNCTIONS OF LABELLING
Grading of Products:
Labels helps in grading the products into different
categories. Sometimes marketers assign different grades
to indicate different features or quality of the product.
For example, Different type of tea is sold by some brands
under Yellow, Red and Green Label categories.
117. FUNCTIONS OF LABELLING
Help in Promotion of Products:
Label helps in promotion of the products. A carefully
designed label can attract attention and give reason to
purchase. Many product labels providing promotional
messages. Labels play an important role in sales
promotional schemes launched by companies.
118. FUNCTIONS OF LABELLING
Providing In formation Required by Law:
Labeling provides the information required by law. For
example, the statutory warning on the package of Cigarette,
‗Smoking is Injurious to Health‘ . Such information is
required on processed foods, drugs and tobacco products.
In case of hazardous or poisonous material, appropriate
safety-warning need to be put on the label.
120. PRICING
Price may be defined as the amount of money paid by a
buyer (or received by a seller) in consideration of the
purchase of a product or a service. Pricing is the
process of fixing price to a product or service. It is often
used as a regulator of the demand of a product. It is also
an effective competitive weapon.
122. FACTORS AFFECTING PRICE DETERMINATION
Product Cost:
One of the most important factor affecting price of a
product or service is its cost. This includes the cost of
producing, distributing and selling the product. There are
broadly three types of costs: viz., Fixed Costs, Variable
Costs and Semi Variable Costs. Total Costs are the sum
total of these costs.
123. FACTORS AFFECTING PRICE DETERMINATION
The Utility and Demand:
In fact the price must reflect the interest of both the
parties to the transaction—the buyer and the seller. The
buyer may be ready to pay equal to the utility from the
product . The seller would, however, try to at least cover
the costs.
124. FACTORS AFFECTING PRICE DETERMINATION
Extent of Competition in the Market:
The price will tend to reach the upper limit in case there
is lesser degree of competition while under conditions of
free competition, the price will tend to be set at the
lowest level. Competitors‘ prices and their anticipated
reactions must be considered before fixing the price of a
product.
125. FACTORS AFFECTING PRICE DETERMINATION
Government and Legal Regulations:
In order to protect the interest of public against unfair
practices in the field of price fixing, Government can
intervene and regulate the price of commodities.
Government can declare a product as essential product
and regulate its price.
126. FACTORS AFFECTING PRICE DETERMINATION
Pricing Objectives:
If the firm decides to maximise profits in the short run, it
charges maximum price for its products. But if it is to
maximise its total profit in the long run, it would opt for a
lower per unit price so that it can capture larger share of
the market and earn greater profits through increased
sales. If a firms objective is to obtain larger share of the
market; it will keep the price of its products at lower
levels. Higher prices are charged to cover high quality
and high cost of Research and Development.
127. FACTORS AFFECTING PRICE DETERMINATION
Marketing Methods Used:
Price fixation process is also affected by other elements
of marketing such as distribution system, quality of
salesmen employed, quality and amount of advertising,
sales promotion efforts, the type of packaging, product
differentiation, credit facility ,customer services provided
etc..
128. PHYSICAL DISTRIBUTION
CHANNELS OF DISTRIBUTION
FUNCTIONS OF DISTRIBUTION CHANNEL
TYPES OF CHANNELS
FACTORS DETERMINING CHOICE OF CHANNEL
COMPONENTS OF PHYSICAL DISTRIBUTION
129. PHYSICAL DISTRIBUTION
It is concerned with making the goods and services
available at the right place, so that people can purchase
the same. There are two important decisions relating to
this aspect—one regarding physical movement of goods
from producers to consumers or users and two,
regarding the channels or using intermediaries in the
distribution process.
131. CHANNELS OF DISTRIBUTION
The people, institutions, merchants, and functionaries,
who take part in the distribution function, are called
‗Channels of Distribution‘. In other words, channel refers
to a team of merchants, agents, and business
institutions that combine physical movement and title
movement of products to reach specific destinations.
133. FUNCTIONS OF DISTRIBUTION CHANNELS
Sorting:
Middlemen procure supplies of goods from a variety of
sources, which is often not of the same quality, nature,
and size. He/She then sorts the goods into homogenous
groups on the basis of the size , quality, quantity etc.
134. FUNCTIONS OF DISTRIBUTION CHANNELS
Accumulation:
This function involves accumulation of goods into larger
homogeneous stocks, which help in maintaining
continuous flow of supply.
135. FUNCTIONS OF DISTRIBUTION CHANNELS
Allocation:
Allocation involves breaking homogenous stock into
smaller, marketable lots. For example, once cashew nuts
are graded and large quantities are built, these are
divided into convenient packs of say 1 kg, 500 gms and
250 gms, to sell them to different types of buyers.
136. FUNCTIONS OF DISTRIBUTION CHANNELS
Assorting:
Middlemen build assortment of products for resale.
There is usually a difference between the product lines
made by manufacturers and the assortment or
combinations desired by the users. For example, a
cricket player may need a bat, a ball, wickets, gloves etc.
Perhaps no one manufacturer produces these products
in desired combination. Middlemen procure variety of
goods from different sources and deliver them in
combinations desired by customers.
137. FUNCTIONS OF DISTRIBUTION CHANNELS
Product Promotion:
Mostly advertising and other sales promotion activities
are organised by manufacturers. Middlemen also
participate in certain activities such as demonstrations,
special displays, contests, etc., to increase the sale of
products.
138. FUNCTIONS OF DISTRIBUTION CHANNELS
Negotiation:
Arriving at deals that satisfy both the manufacturer and
customer is another important function of the
middlemen. They negotiate the price, quality, guarantee
and other related matters with customers so that transfer
of ownership is properly affected.
139. FUNCTIONS OF DISTRIBUTION CHANNELS
Risk Taking:
In the process of distribution of goods the merchant
middlemen take title of the goods and thereby assume
risks on account of price and demand fluctuations,
spoilage, destruction, etc.
141. TYPES OF CHANNELS
Direct Channel (Zero Level)
The most simple and the shortest mode of distribution is
direct distribution, where in the goods are made directly
available by the manufacturers to customers, without
involving any intermediary. This is also called zero level
channel.
142. TYPES OF CHANNELS
One Level Channel:
In this form of arrangement one intermediary i.e.,
retailers is used between the manufacturers and the
customers. That is, goods pass from the manufacture to
the retailers who, in turn, sell them to the final users.
This type of distribution network enables the
Manufacturers to cover wide area of market.
143. TYPES OF CHANNELS
Two Level Channel:
This is the most commonly adopted distribution network
for consumer goods like soaps, oils, clothes, rice, sugar
etc. Here the wholesaler and retailer function as
connecting links between the manufacturer and
consumer. Use of two middlemen in the channel network
enables the manufacturer to cover a larger market area.
144. TYPES OF CHANNELS
Three Level Channel:
In this case, manufactures use their own selling agents
or brokers who connect them with wholesalers and then
the retailers. It is done particularly when the
manufacturer carries a limited product line and has to
cover a wide market. An agent in each major area is
appointed, who in turn contact the wholesalers.
146. FACTORS DETERMINING CHOICE OF CHANNELS
Product Related Factors:
Industrial products are usually technical ,require short
channels Consumer products, are usually standardised, less
expen- sive, less bulky, non-technical and frequently bought
prod-ucts can be better distributed by long network of
channels.
Perishable products like fruits, vegetables etc are best sold
through short channels, while non-perishable require longer
channels to reach wide spread consumers.
If the unit value of a product is low, long channels are prefe-
rred ,in case of high value products, shorter channels may be
used.
In case of complex products requiring technical details ,short
channels are preferred but if the product is a non-complex
one, it is sold through long channels.
147. FACTORS DETERMINING CHOICE OF CHANNELS
Company Characteristics:
If the firm has plenty of funds it may go for direct distrib-
ution. If spare funds are not available, it may go for
indirect channels. If the management want to have grea-
ter control on the channel members, short channels are
used but if the management do not want more control
over the middlemen, it can go in for longer channel.
148. FACTORS DETERMINING CHOICE OF CHANNELS
Competitive Factors:
The choice of channel is also affected by the channel
selected by competitors. If the competitor‘s have
selected a particular channel, the other firm may also like
to select the similar channel. In some cases producers
may want to avoid the channels used by competitors,it
will depend upon the policy of the firm.
149. FACTORS DETERMINING CHOICE OF CHANNELS
Market Factors:
# In case the number of buyers is small, short channels
are used. But if the number of buyers is large, longer
channels are used.
# If the buyers are concentrated in a small geographical
area, short channels may be used but if the buyers are
widely dispersed, longer channels may be used.
# If the size of order is small, as in case of most
consumer products, large number of intermediaries may
be used. But if the size of order is large, direct channels
may be used.
150. FACTORS DETERMINING CHOICE OF CHANNELS
Environmental Factors:
Here include environmental factors such as economic
condition and legal constraints. In a depressed economy
marketers use shorter channels to distribute their goods
in an economical way.
152. COMPONENTS OF PHYSICAL DISTRIBUTION
Order Processing:
A good physical distribution system should provide for
an accurate and speedy processing of orders, in the
absence of which goods would reach the customers late
or in wrong quantity or specifications. This would result
in customer dissatisfaction, with the danger of loss of
business and goodwill.
153. COMPONENTS OF PHYSICAL DISTRIBUTION
Transportation:
Transportation is the means of carrying goods and raw
materials from the point of production to the point of
sale. It is important because unless the goods are
physically made available, the sale cannot be completed.
154. COMPONENTS OF PHYSICAL DISTRIBUTION
Warehousing:
Warehousing refers to the act of storing and assorting
products in order to create time utility in them. The need
for warehousing arises because there may be difference
between the time a product is produced and the time it is
required for consumption.
155. COMPONENTS OF PHYSICAL DISTRIBUTION
Inventory Control:
Inventory control means maintaining stock of goods at
lower cost level and at the same time avoiding the risk of
stock out. Higher the level of inventory,higher will be the
service but more will be the carrying cost. Lower the
level of inventory, the firm is unable to supply goods in
time. So, balance is to be maintained.
157. PROMOTION
Promotion refers to the use of communication with the
twin objective of informing potential customers about a
product and persuading them to buy it. It is an important
element of marketing mix by which marketers makes use
of various tools of communication to encourage
exchange of goods and services.
159. PROMOTION MIX
Promotion mix refers to combination of promotional
tools used by an organisation to achieve its
communication objectives. These include:
161. ADVERTISING
Advertising is the most commonly used tool of
promotion. It is an impersonal form of communication,
which is paid for by the marketers (sponsors) to promote
some goods or service.
―Advertising is any paid form of non personal
presentation and promotion of ideas, goods or services
by an identified sponsor‖ – American Marketing
Association.
163. FEATURES OF ADVERTISING
1.Paid Form: Advertising is a paid form of
communication. That is, the sponsor has to bear the
cost of communicating with the prospects.
2. Impersonality: There is no direct face-to-face contact
between the prospect and the advertiser. It is
therefore, referred to as impersonal method of
promotion.
3. Identified Sponsor: Advertising is undertaken by some
identified individual or company, who makes the
advertising efforts and also bears the cost of it.
165. MERITS OF ADVERTISING
(i) Mass Reach: Advertising is a medium through which a
large number of people can be reached over a vast
geographical area.
(ii) Enhancing Customer Satisfaction and Confidence:
Advertising creates confidence amongst prospective
buyers as they feel more comfortable and assured
about the product quality.
(iii)Expressiveness: With the developments in art,
computer designs, and graphics, advertising has
developed into one of the most forceful medium of
communication.
(iv)Economy: Advertising is a very economical mode of
communication if large number of people are to be
reached. Because of its wide reach, the per-unit cost of
it comes low.
167. DEMERITS OF ADVERTISING
1. Less Forceful: Advertising is an impersonal form of
communication. As there is no compulsion, it is less
forceful.
2. Lack of Feedback: The evaluation of the effectiv-
eness of advertising message is very difficult as
there is no immediate and accurate feedback mech-
anism of the message that is delivered.
3. Inflexibility: Advertising is less ,flexible as the
message is standardised and is not tailor made to
the requirements of the different customer groups.
4. Low Effectiveness: As the volume of advertising is
getting more and more expanded it is becoming
difficult to make advertising messages heard by the
target prospects.
169. PERSONAL SELLING
Personal selling involves oral presentation of message in
the form of conversation with one or more prospective
customers for the purpose of making sales. Companies
appoint salespersons for this purpose.It is a personal
form of communication.
171. FEATURES OF PERSONAL SELLING
(i) Personal Form:
In personal selling a direct face-to-face dialogue
takes place that involves an interactive relationship
between the seller and the buyer.
(ii) Development of Relationship:
Personal selling allows a salesperson to develop
personal relationships with the prospective custom-
ers, which may become important in making sale.
173. MERITS OF PERSONAL SELLING
1. Flexibility: There is lot of flexibility in personal
selling. The sales presentation can be adjusted to fit
the specific needs of the individual customers.
2. Direct Feedback: As there is direct face-to-face
communication in personal selling, it is possible to
take a direct feed back from the customer and to
adapt the presentation according to the needs of the
prospects.
3. Minimum Wastage: The wastage of efforts in pers-
onal selling can be minimised as company can
decide the target customers before making any
contact with them.
175. IMPORTANCE OF PERSONAL SELLING
IMPORTANCE TO BUSINESS MEN
(i)Effective Promotional Tool: Personal selling is very
effective promotional tool, which helps in influencing the
prospects about the merits of a product.
(ii)Flexible Tool: Personal selling is more flexible than
other tools of promotion. It helps business persons in
adopting their offer in varying purchase Situations.
(iii)Minimises Wastage of Efforts: Compared with other
tools of promotion, the possibility of wastage of efforts
in personal selling is minimum.
(iv)Consumer Attention: There is an opportunity to
detect the loss of consumer attention and interest in a
personal selling situation. This helps a business person
in successfully completing the sale. >>
176. IMPORTANCE OF PERSONAL SELLING
IMPORTANCE TO BUSINESS MEN
(v)Lasting Relationship: Personal selling helps to
develop lasting relationship between the sales persons
and the customers.
(vi)Personal Rapport: Development of personal rapport
with customers increases the competitive strength of a
business organisation.
(vii)Role in Introduction Stage: Personal selling helps in
the introduction stage of a new product by persuading
customers about the merits of the product.
(viii)Link with Customers: Sales people play three differ-
ent roles, namely persuasive role, service role and infor-
mative role, and thereby link a business firm to its
customers.
177. IMPORTANCE OF PERSONAL SELLING
i) Help in Identifying Needs: Personal selling helps the
customers in identifying their needs and wants and in
knowing how these can best be satisfied.
(ii)Latest Market Information: Customers get latest
market information regarding price changes, product
availability and shortages and new product introduction.
(iii)Expert Advice: Customers get expert advice and
guidance in purchasing various goods and services,
which help them in making better purchase.
(iv)Induces Customers: Personal selling induces
customers to purchase new products that satisfy their
needs in a better way.
IMPORTANCE TO CUSTOMERS
178. IMPORTANCE OF PERSONAL SELLING
(i)Converts Latent Demand:Personal selling converts
latent demand into effective demand. It is through this
cycle that the economic activity in the society is fostered,
leading to more jobs, more incomes and more products
and services.
(ii)Employment Opportunities: Personal selling offers
greater income and employment opportunities to the
unemployed youth. >>
IMPORTANCE TO SOCIETY
179. (iii)Career Opportunities: Personal selling provides
attractive career with greater opportunities for
advancement.
(iv)Mobility of Sales People: There is a greater degree of
mobility in sales people, which promote travel and
tourism in the country.
(v)Product Standardisation: Personal selling increases
product standardisation and uniformity in consumption
pattern in a diverse society.
IMPORTANCE OF PERSONAL SELLING
IMPORTANCE TO SOCIETY
181. SALES PROMOTION
Sales promotion refers to short-term incentives, which
are designed to encourage the buyers to make
immediate purchase of a product or service. These
include all promotional efforts other than advertising,
personal selling and publicity.
183. MERITS OF SALES PROMOTION
1.Attention Value: Sales promotion activities attract
attention of the people because of the use of
incentives.
2.Useful in New Product Launch: Sales promotion tools
can be very effective at the time of introduction of a
new product in the market.
3. Synergy in Total Promotional Efforts: Sales promotion
activities are designed to supplement the personal
selling and advertising efforts used by a firm and add
to the over all effectiveness of the promotional
efforts of a firm.
185. DEMERITS OF SALES PROMOTION
1. Reflects Crisis: If a firm frequently rely on sales
promotion, it may give the impression that it is
unable to manage its sales or that there are no takers
of its product.
2. Spoils Product Image: Use of sales promotion tools
may affect the image of a product. The buyers may
start feeling that the product is not of good quality or
is not appropriately priced.
187. SALES PROMOTION ACTIVITIES
Rebate:
Offering products at special prices, to clear off excess
inventory. Example, a car manufacturer‘s offer to sell a
particular brand of car at a discount of Rs 10,000, for a
limited period.
188. SALES PROMOTION ACTIVITIES
Discount:
Offering products at less than list price. Example, a shoe
company‘s offer of ‗Discount Up to 50%‘ or a shirt
marketer‘s offer of ‗50+40% Discount‘.
189. SALES PROMOTION ACTIVITIES
Refunds:
Refunding a part of price paid by customer on some
proof of purchase, say on return of empty foils or
wrapper. This is commonly used by food product
companies, to boost their sales.
190. SALES PROMOTION ACTIVITIES
Product Combinations:
Offering another product as gift along with the purchase
of a product, say offer of a cup with the purchase of a
Bottle of Horlicks
191. SALES PROMOTION ACTIVITIES
Quantity Gift:
Offering extra quantity of the product with the normal
quantity. It is commonly used by marketer of toiletry
products. For example, a shaving cream‘s offer of ‗40%
Extra‘ or ‗
Buy 2 Get 1 Free‘ offer.
192. SALES PROMOTION ACTIVITIES
Instant Draws and Assigned Gift:
Here a card is given to the buyer and on scratching it ,
what is written on it is given as prize instantly.
Lucky Draw:
While buying a product, a coupen is given which is
deposited in a box filling the name, the winner is
selected by lucky draw method.
193. SALES PROMOTION ACTIVITIES
Usable Benefit:
Under this method, a discount voucher is given to the
consumer on purchase of a product entitling him a
special benefit or discount. E.g. Purchase goods worth
Rs 3000 and get a holiday package worth Rs 3000 free.
194. SALES PROMOTION ACTIVITIES
Full finance @ 0%:
Many marketers of consumer durables such as
Electronic goods, automobiles etc offer easy financing
schemes such as ‗24 easy instalments etc. The
purchaser need not pay the full amount at the time of
purchase.
Sampling:
Offer of free sample of a product, say a detergent
powder or tooth paste to potential customers at the time
of launch of a new brand / product.
195. SALES PROMOTION ACTIVITIES
Contests:
Some firms hold contests for consumers. Consumers
who buy the firm‘s products are given an opportunity to
participate in the contest. It may take in the form of quiz ,
answering some questions etc.
197. PUBLICITY
Publicity is similar to advertising, in the sense that it is a
non-personal form of communication. However, as
against advertising it is a non-paid form of communic-
ation. It generally takes place when favourable news is
presented in the mass media about a product or service.
For example, if a manufacturer developing a car engine,
which runs on water instead of petrol, and this news is
covered by television or radio or newspapers in the form
of a news item.
199. FEATURES OF PUBLICITY
The two important features of publicity are that:
(i) Publicity is an unpaid form of communication. It does
not involve any direct expenditure by the marketing
firm; and
(ii) There is no identified sponsor for the communication
as the message goes as a news item.