principles of marketing
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Principles of Marketing
Presented By
V.Gopalakrishnan.,M.Com.,M.B.A.,M.Phil.,PGDMM.,
Assistant Professor,
Department of Commerce,
Kamaraj College, Tuticorin.
Meaning of Market
The Term Market is derived from the Latin Word
“Marketus” which means merchandise or Trade.
Example:
Vegetable Market, Meat Market, Fish Market
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Definition of Market
• “Market Includes both place and region in which buyers
and sellers are in free intercourse with one another”
Peter.J.F
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Evolution of Marketing
Barter System
Production Orientation
Sales Orientation
Marketing Orientation
Consumer Orientation
Management Orientation
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Classification of Market
Market Types
On the basis of AREA
Family
National
Local
International
On the Basis of Goods
Commodity
Capital Market
On the Basis of
Economics
Perfect Market
Imperfect Market
Basis of transaction
Spot
Future
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Marketing - Definition
• “Marketing is a Business Process by which products are
matched with markets and through which transfer of
ownership effected”
Cundiff & Still
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Objectives - Marketing
• Satisfaction of Human Wants
• Profit Maximization
• To Develop marketing Field
• Effective distribution of products
• To find sources for further information market problems
• To take appropriate actions in the course of actions
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Features of Marketing
Features of
Marketing
Distributions of Goods and
Services
Creation of Utilities
Generation of Revenue
Delivery of Standard of
Living
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Importance of Marketing
• Importance of Marketing to the Society
• Importance of Marketing to the Firm
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Importance of Marketing
to the Society
Delivers the standard of living
connects the producers and consumers
Increases the national Income
Provides Employment Opportunities
Helps to maintain economic Stability.
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Importance of Marketing
to the Firm
• Helps in Increasing Profits
• Helps in Business planning and Decision making
• Connecting link between production and consumption
• Helps to improve productive efficiency
• creates Revenue
• Provides a channel of communication
• Increase the volume of sales
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Goods
Convenience Goods
Shopping Goods
Specialty Goods
Manufactured Goods
Consumer Goods
Industrial Goods
Agricultural Goods
Consumer Goods
Industrial Goods
Nature of Raw materials
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Classification of
Industrial Goods
• Raw Materials
• Fabricating Materials
• Accessories
• Operating Supplies
• Industrial Services
• Process Materials
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Classification of
Consumer Goods
• Convenience Goods
• Shopping Goods
• Specialty Goods
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Convenience Goods
• Convenience Goods are demanded by customers
frequently in small quantities.
Examples:
News papers,
Drugs,
Soaps.
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Shopping Goods
• Shopping Goods are purchased after comparison for
Price, Style, quality, Color and the Like.
• Examples:
• Ready-made Garments
• Shoes, FurnitureV.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Specialty Goods
• Durable goods which require large investment by the
consumers.
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Types of Services
• Professional Services
• Financial Advice
• Advertising
• Engineering legal & Medical
• Consumer Oriented Services
• Cleaning, Heating,
• Financing, Banking, Insurance
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Evolution of Marketing Concept
• Self Sufficient stage
• Exchange Oriented Stage
• Production Oriented Stage
• Sales oriented stage
• Market oriented stage
• Social oriented stage
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Social Marketing
• Survival
• Profitability
• Service
• Social Responsibility
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
4 C’s of Marketing
Customer Needs
Communication
Cost
Convenience
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Kinds of Transportation
• Land Transport
• Water Transport
• Air Transport
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Land Transportation
• Pathways
• Road Transport
• Tramways
• Railways
• Pipe Lines
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Water Transportation
• Inland
• Ocean
• River
• Cannel
• Coastal Shipping
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Warehousing
• Private Warehouses
• Public warehouses
• Bonded Warehouses
• Special Commodity
• A/C Warehouses
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Standardization
A Standard is a measure that is generally accepted as
having fixed value.
Quality Standard
Standards of size and measurement
Quantity standard
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
The Indian Standards Institute (I.S.I)
• The ISI was setup in 1987 by the Central Govt
• Preparation of Standards for the products, commodities
materials and process.
• Certification of Industrial Goods
• Formulation of Standards.
• AGMARK
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Product - Meaning
• Definition
• “A Product is a bundle of physical service and symbolic
particulars expected to yield satisfactions or benefits to the
buyer”
• Philip Kotler
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Features of Product
Tangibility
Intangible attributes
Buyers buy the benefit
Exchange Value
Consumer Satisfaction
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Elements of Product Policy
o Product planning and development
o Product Line
o Product Mix
o Product Branding
o Product Style
o Product Positioning
o Product Packaging
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Product Innovation
• Innovation is the design and development of something new as yet unknown and not in existence,
• Factors to be considered• Market Changes
• Changes in Technology
• Profitless price competition
• Diversification of Risk
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Causes for Product
Innovation
• To meet market changes
• To adopt technological changes
• To incorporate changes in fashion
• To effect development of new product
• To meet consumer Needs
• To Face competition
• To improve product safety
• To produce goods economically
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
New Product
Development Stages
Idea Generation
Screening of Ideas
Business Analysis
Product Development
Test Marketing
Commercialisation
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Reasons for Product
Failures??????
Inadequate market analysis
Product Effect
Higher Costs
Poor Timing
Competition
Inadequate sales force
Weakness of Distribution
Product performance may not good
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Branding
• Branding is the use of a distinctive name or and mark on a product to differentiate it from similar competitive products.
• Branding Means naming a Product.
• Example:
• Bata Shoes.
Types of Branding:
Individual Brand
Family Brand Name – Godrej, TaTa
Company Brand
Multiple Brand
Private Brand
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Packaging
• Packaging is the subdivision of the packing function of
Marketing. Packaging means wrapping of goods before
they are Transported or stored or delivered to the
customers.
• Functions of Packaging:
Protection
Identification
Convenience
Giving Form
Promotion
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Kinds of Packaging
Consumer Packaging
Family Packaging
Reuse Packaging
Multiple packaging
Industrial Package
consumer Package
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Pricing - Meaning
• Price Means the exchange value of a product or service in
terms of Money.
• Objectives:
• Ensuring Target return
• Market share
• Preventing competition
• Maximizing the profit
• Stabling the price
• ability of the customers
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Kinds of Pricing:Odd Pricing
Psychological pricing
Customary prices
Pricing at the prevailing prices
Prestige pricing
Penetration pricing
Skimming Pricing
Price lining
Geographical Pricing
Dual Pricing
Monopoly Pricing
Administrated Pricing
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Advertising
• The word advertising is derived from the Latin word
“Adverto” ad means towards and verto means “I turn” .
• Advertising is any paid form of non-personal presentation
of ideas, goods or services by an identified sponsor. It
includes all the activities involved in presenting to a group
of persons a non personal, or visual, openly sponsored
message regarding a product.
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Sales Promotion
• “Sales Promotion means any step that are taken for
Increasing Sales”• A.H.Delanc.
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Salesmanship
• Salesmanship is the art of persuasion. It is the art of
serving the customer.
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
Doubts…?????????????
????V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM
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