MARKETING MANAGEMENT BUISNESS STUDIES

Market - it is the particular place where the buyers and sellers get together and make deal regarding sale or purchase 

Customer - Customer means People of organisation who want to fulfill their need

MEANING of MARKETING

It is a social process where by people exchange good and services or money or for something of value to them it is the process of distribution of such good and services which are needed and desired by the customer 

FEATURES of Marketing 

1 Need And wants - Marketing is the Process of fulfilling the need and wants all the activities in the market are carried out with the main motive of satisfying need and Want of customer and organisation

For ex - feeling hungry is need but satisfied it by eating only .. Sambhar Dosa is a want

2 Customer Value - Customer is ready to give a price for the market only when he get satisfaction or only when product is offering utilities matching to the price customer value the product on the basis of satisfaction or service offered by the product and marketers must add to the value of products so that customer prefer your products over the competitor

3 Creating a Marketing offering 

Marketing Offering means Offering a Product or service by Specifying it's feature shape size colour etc.. for ex - offer is tv than specifying the various sizes in which it is available various technologies various shape prices diff type etc .. A good market offers should keep in mind the satisfaction of consumer

4 Wild Coverage - Marketing is not limited to buisness organisation - non profit organisation such as school colleges hospital sports club also need marketing for ex .- Spreading the message of family planning creating awareness against smoking and drinking

5 Exchange Mechanism - the Process of marketing envolve exchange of Product and services for money.. which satisfying need and wants exchange can take place directing between manufacturer and customer through middle man...

# Function of Marketing

In the Process of marketing the marketer performs a variety of functions which are given below

1 Gathering and Analysing Market information - This Function help the marketer to identify the need of customer market research became basis of products development and to conduct market research the marketer performs  SWOT Analysis

SWOT

S - Strength 

W- Weakness

O - Opportunity 

T - Threat

1 Gathering and Analysing Market information is an important functions of Marketing under it an effort is made to understand the consumer by following ways -- 

1 what do the customer need

2 When do they want it 

3 What kind Of advertisement to they Like 

2 Market Planning - After conducting marketing research the marketer has to plan the steps . Necessary to achieve marketing objectives under marketing planning they make plan to increase production plan to increase sale plan to use promotional tools etc..

3 Packing and Labelling -  The Product is always supplies to customer in packed form .. packing refer to designing of packet .. wrapper customer which are use to pack the Product packing plays an important role of selling as attractive packing induces the customer to buy products 

Labelling refers to informative part of packaging through label important information is given to customer

4 Branding -  Branding means giving a special name to the product companies may decide to sell products is companies name or they may decide a Special brand name for their Products 

Ex - Sony Samsung BPL etc are using companies name as brand name , where . Ariel Tide etc are Special brands name selected by company the bank name must be selected very carefully as customer loyalty depends upon brand name ..

5 Pricing Of Products  - Price Means the money which customer has to pay to buy a product or service it is the most crucial .. elements of marketing as customer is highly price sensitive a little variation in Price may take your customers to competetors products marketer keep in mind various factors such as objective of firm demand Competition etc

6 Promotion and Selling - After Production of good the marketer need to offer them to customer for this he performed two basic functions

1 Promotion 

2 Seller

Promotion include all the activities which are undertake to communicate with the customer increase the sale .. for Promotion marketer performs various functions such as Advertisement personal Selling publicity sale Promotion etc

7 Customer Support service - Now a Days in the Buisness environment customer is the king pin in the market so customer satisfaction is the main moto of every buisness  a very important functions of marketing management relates to developing Customer support services such as handling customer complaint after sale service maintenance services technical services etc .. customer will became your permanent customer only when he is satisfied with the customer support services

8 - Transportation - it refer to the physical movement of good from one place to another railway shipping airlines are used in transportation the choice of mode of transport depends upon relative costs of different mode of transport

9 Storage and warehousing - the good are not consumes emigately when they are produced there is a time gap between the Production and consumption so it a necessary to keep the good safe during the time gap so marketers often maintain their own bearer house to store the Product or they may use of public warehouse to keep their good safe

* MARKETING MIX

The marketing mix refers to the ingredients or the tool or the variable which the marketers mixes in order to interact with the particular market

In the other words we can say that it is the combination of 4 basic elements which constitute the care of company marketing system these four elements product price place and promotion

1Product Mix - The Term Product mix refers to all the products and services offered by a firm for sale in market and the feature include quality size design brand name packaging Labelling etc for example maruti udyog offered only one Product like car on the other hand firm have a while Product mix like insurance free seats cover after sale service better average good shape and size etc

2 Price Mix - Price is the value which the buyer passes on the seller of the marketer manager is determined that the firm is able to sell the product successfully

3 Place Mix - Place Mix refer to important decisions related to physical distribution of good and services these decisions are deciding the channel of distribution the market for distribution etc place mic include channel of distribution physical movement of good

4 Promotion mix It deal with informing the customer about the firm Product and persuade them to purchase the same .

Q Difference between Selling and Marketing .?

Ans Selling

1. Focus - selling Focuses on the need of seller

2 objective - Main objective of selling is to minimize the profit and sale

3 Scope - Scope Of selling is limited to exchange of good and services for some consideration .

4 start and end - Selling start after Production and end with the sale of Product

5 Supremacy - Producer is considered king pin of market

6 Demand - It assumes demand for the Product.

MARKET

Focus - Market Focuses on the need of customer

2 Objective - Main objective of marketing is earning optimum profit with customers satisfaction

3 Scope - Scope of Marketing is very wide it includes activities like creation of demand designing of Product according to demand using promotional technic and after sale survey to find out consumer satisfaction

4 Start and End - Marketing start much before Production and continuous even after sale

5 Supremacy - consumer is considered king pin of market

6 Demand - Demand is created by producing Product according to the need of customer .

MARKETING PHILOSOPHIES 

1 Production Concept - Some companies believe that it is easy to sell the product when Product are in expensive and are easily available so the firm following productional concept focus on lowering the cost of production but the drawback of these concepts is that customer don't always buy products which are expensive and available the main focus on production concept is to large skill production to decrease the cost ..

2 Product Concept - Firm which follow the Product Concept purpose that the way to realise buisness goal is by making Product that are of high qualities these firm manufacturers the Product of superior qualities but they must keep in mind the customer will buy the product of high quality only when they need and want .. for example the firm is dealing with the very high qualities hair dryer by customer will demand it only when they have grey hair the main focus of these concepts is good quality added features in Product

3 Selling Concept - Customer would not buy enough unless they are adequately attracted and convence to do so .. therefore pushing the sale of Product aggressive selling and promotional effort should be under taken

Selling concentrate on the requirements and need of producer and sell whatever is Produced .. they do not try to find out the requirements or need of the customer the main focus on these concepts is to sell whatever is Produced by using intensive promotional techniques

4 Marketing Concept - the marketit concept concentrate on the need of the customer these  concepts say that Product should be designed and produced keeping in mind the need of the customer and try to satisfy the need better than the competition so according to Marketing Concept the customer satisfaction is the precondition for realising firm goal and objectives the firm adopting Marketing Concept give importance two important market force these are customer and competitors as the firm keep a close eyes on the need and want of consumer and try to satisfy their need better than their competitors the main focus of these concepts is consumer satisfaction or in other words they do not sell what they can make what they can sell keeping in mind these companies direct the Marketing effort to achieve consumer satisfaction the task of any organisation is to identify the need and wants to the consumer and delivered the desired satisfaction in an effective and efficient manner .. so that the long term well being of the customer as well as the society taken care .. the people who concerned with the society and environment they argue that company' should not blindly follow the goal of consumer satisfaction these may lead to create problems of social and environment for ex -

It can be said that the lastest concept of Marketing the companies adopting these concepts can achieve long term profit

A consumer may want to have drug so just to consumer satisfy the firm should not supply him drugs so the customer satisfaction must be in the Ethical and ecological aspect of the society ..

Q Difference between Production Of Marketing .??

Ans PRODUCTION

1 Meaning - availability and affordability of Product

2 Focus - Quantity of Product

3 Starting Point - Factory

4 Profit - Profit through large volume of Production

PRODUCT

1 Meaning - Improvement Of quality

2 Focus - Quality Of Products

3 Starting Point - Factory

4 Profit - Profit through quantity of Product

SELLING

1 Meaning - selling and Promoting

2 Focus - selling existing products by hook and crook

3 Starting Point - Factory

4 Profit - Profit through sale and volume

SOCIETAL

1 Meaning - Marketing Techniques

2 Focus - Consumer satisfaction with in the tradition of society

3 Starting Point - Market and socii

4 Profit - Profit through Consumer satisfaction and Social welfare ..

Product MIX

1 Product - It is anything that can be offered to a market to satisfy a need or want it mean what a seller sell and what a buyer buy..

Features Of Product

1 Tengibility - A Product is tengible as it consists of physical attributes such as shape size weight colour etc it can be seen taught and felt

2 Exchange value - A Product has a certain value which can be measured interim of money

3 Lifecycle - Every Product has it lifecycle 

1 Introduction

2Growth

3decline 

4 Meturity

Are the main stage in the Lifecycle of a Product

4 Need Satisfaction - Every Product is mean for satisfying some human need

CLASSIFICATION OF PRODUCT

1 consumer Products

2 Industrial Product

1 Consumer Product - These Product are used directly by the ultimate consumer and household these are meant for personal use Consumer Product may further be classified 

1 Durable Product - Generally used for a Longer Period for ex - TV Refrigerator

2 Non durable Product - Normally consumed in one or few time for ex - eatable item and detergent

2 Industrial Product - these Products are meant for used in manufacturing other Products industrial products may further be classified

a) Raw Material - these are converted into finished item or Product for ex - Sugar can is used in manufacturing Product cotton is used in making cloth .

b) Installation - these consist of heavy machinery factory assets Production line and other item of high quality

C)  Fabricated Product or Spare Part - these are Preproduced item that became Apart of finished product for ex - Tires For automobile , Law For Shoes mouse for computer ..

Branding - it refer to a Special words symbol letter or the mixture of all their to identify Product of one firm and differentiated them from those of the other for ex - BMW Maruti Audi 

2 brand name - The part of brand which can be spoken is called brand name for example - dettol Surfexcel Ariel

3 Brand Mark - It refer to that the Part of the brand which appear in the form of symbol design 

4 Trade Mark - A brand that is given legal Production against it used by other Firm is called trademarks . Firm which got its brands register get the exclusive right for it use...

# Characteristics of good brand name and quality of good brand ..

1 Brand name should be short and simple for ex - Lux Surf as long and complicated name are difficult to recognise and remember 

2 Brand Name should Be easy to Pronouns as if it is Difficult to pronoun the customer will hesitate to demand for it ..

3 Brand Name Should be suggestive That is it must suggest the utility of the Product for ex - Ujala suggest Brightness . Hajmola Suggest Digestive property 

4 The brand name should be unique and distinctive

5 It should be capable of registration of legal protection .

# DIFFERENCE BETWEEN ADVERTISING AND PERSONAL SELLING ..

Ans - 

Advertising Selling 

1 Basis - It is an impersonal Form Of Communication

2 Flexibility - Less Flexibility

3 Reach - It reach Masses

4 Coverage - it Cover market in short term

5 Cost - Cost Per person is less

6 Feedback - No direct Feedback

7 Useful - More useful for Standard wise and consumer products .

PERSONAL Selling

1 Basis -It is an Personal Form Of Communication

2 Flexibility - Flexibility

3 Reach - Only Limited no,s of member can be contacted 

4 Coverage - Take Long time to Cover market

5 Cost - Cost Per Person is High

6 Feedback - Direct Feedback

7 Useful - More useful For Industrial Product

Q Advantage Of Public Relations

Ans - Public Relation are Significance in the following way -

1 Help convey the Policy and Programmes of the organisation

2 Help to collect information about public opinion about the organisation management activities etc

3 To Overcome the complaint and dislike of public

4 To mould People attitude in favour of Organisation

5 To Maintain Goodwill and Understanding between Organisation public 

6 To buil and image of the Organisation .