Académique Documents
Professionnel Documents
Culture Documents
Definition of Marketing
Marketing consists of the strategies and tactics used to identify, create and
maintain satisfying relationships with customers that result in value for both the
customer and the marketer.
The marketing mix framework was particularly useful in the early days of the
marketing concept when physical products represented a larger portion of the
economy. Today, with marketing more integrated into organizations and with a
wider variety of products and markets, some authors have attempted to extend
its usefulness by proposing a fifth P, such as packaging, people, process, etc.
Today, however, the marketing mix most commonly remains based on the 4 P’s.
Despite its limitations and perhaps because of its simplicity, the use of this
framework remains strong and many marketing textbooks have been organized
around it.
SOCIAL ENVIRONMENT
CULTURAL ENVIRONMENT
ECONOMIC ENVIRONMENT
Levels of the economy: Two types of policies are pursued by State to combat
the inflationary and deflationary tendencies in the economy. These are called
stabilization policies, which mainly include : (i) Monetary policy and (ii) Fiscal
policy.
2. Fiscal policy. Fiscal policy refers to the deliberate changing of taxes and
government spending for the purpose of keeping the actual GNP close to the
potential full employment GNP. If the potential GNP is exceeded it causes
inflation, while if the actual GNP falls short of the potential it causes recessionary
conditions.
Politico-legal environment:
India suffered political instability for a few years due to the failure of any party to
win an absolute majority in the parliament. However, political stability has
returned since the previous general elections in 1999. However, political
instability did not change India’s economic course though it delayed certain
decisions relating to the economy.
SMS
One can locate the nearest pizza outlet or log on to a Website to check out the
specifications of the new car you plan to buy.
i-Seminars
Seminars on the internet instead of physical seminars is better for the customer
regarding travel, time and expense.
E-marketing :No snail mailing, only e-mails; interactive web information (no
printing of brouchers) and Web banners.
Superior design tools: Better tools like Photoshop and illustrator allow a
designer to do things that would have required very expensive design
workstations a decade or two ago.
Touch-screen kiosks: Touch sreen kiosks used to market and showcase brands
at shopping malls have changed the way a consumer can feel and experience a
product on the shop floor.
Analysis tools: Better data mining technologies coupled with cheaper storage
has accelerated the pace of research, so that one can narrow down on one’s
target and focus better.
NATURE OF MARKETING
1. Marketing is customer-focused
2. Marketing must deliver value
3. Marketing is surrounded by customer needs.
i. Marketing research
ii. Product planning and development
iii. Buying and assembling
iv. Selling
v. Standardization, grading and branding
vi. Packaging
vii. Storage
viii. Transportation
ix. Salesmanship
x. Advertising
xi. Pricing
xii. Financing
xiii. Insurance
FUNCTIONS OF RESEARCH
Marketing Research
Product Planning and Development
FUNCTIONS OF EXCHANGE
Selling
Packaging
Storage
Transportation
Salesmanship
Advertising
Pricing
Financing
Insurance
SIGNIFICANCE OF MARKETING
Objectives of Marketing