principles of marketing

Principles of Marketing

Presented By

V.Gopalakrishnan.,M.Com.,M.B.A.,M.Phil.,PGDMM.,

Assistant Professor,

Department of Commerce,

Kamaraj College, Tuticorin.

V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM

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

Definition of Market

• “Market Includes both place and region in which buyers and sellers are in free intercourse with one another”

Peter.J.F

Evolution of Marketing

Barter System Production Orientation Sales Orientation Marketing Orientation Consumer Orientation Management Orientation

Classification of Market

Market Types

On the basis of AREA

Family

National

International

On the Basis of Goods

Commodity

Capital Market

On the Basis of

Economics

Perfect Market

Imperfect Market

Basis of transaction

Future

Marketing - Definition

• “Marketing is a Business Process by which products are matched with markets and through which transfer of ownership effected”

Cundiff & Still

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

Features of Marketing

Features of

Marketing

Distributions of Goods and

Services

Creation of Utilities

Generation of Revenue

Delivery of Standard of

Living

Importance of Marketing

• Importance of Marketing to the Society

• Importance of Marketing to the Firm

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.

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

Kinds of Goods & Services

Convenience Goods

Shopping Goods

Specialty Goods

Manufactured Goods

Consumer Goods

Industrial Goods

Agricultural Goods

Consumer Goods

Industrial Goods

Nature of Raw materials

Classification of Industrial Goods

• Raw Materials• Fabricating Materials• Accessories • Operating Supplies• Industrial Services • Process Materials

Classification of Consumer Goods

• Convenience Goods• Shopping Goods• Specialty Goods

Convenience Goods

• Convenience Goods are demanded by customers frequently in small quantities.

Examples:

News papers,

Drugs,

Soaps.

Shopping Goods

• Shopping Goods are purchased after comparison for Price, Style, quality, Color and the Like.

• Examples:• Ready-made Garments• Shoes, Furniture

Specialty Goods

• Durable goods which require large investment by the consumers.

Types of Services

• Professional Services• Financial Advice• Advertising• Engineering legal & Medical

• Consumer Oriented Services • Cleaning, Heating,• Financing, Banking, Insurance

Evolution of Marketing Concept

• Self Sufficient stage• Exchange Oriented Stage• Production Oriented Stage• Sales oriented stage• Market oriented stage• Social oriented stage

Social Marketing

• Survival • Profitability • Service• Social Responsibility

Marketing Mix(4 P’s of

Marketing)

4 C’s of Marketing

Customer Needs

Communication

Convenience

Is Marketing Science Or Art???

Functions of Marketing

Kinds of Transportation

• Land Transport

• Water Transport

• Air Transport

Land Transportation

• Pathways• Road Transport• Tramways• Railways• Pipe Lines

Water Transportation

• Inland• Ocean• River• Cannel • Coastal Shipping

Air Transportation

Warehousing

• Private Warehouses• Public warehouses• Bonded Warehouses• Special Commodity • A/C Warehouses

Standardization

A Standard is a measure that is generally accepted as having fixed value.

Quality Standard Standards of size and measurement Quantity standard

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

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

Features of Product

Tangibility

Intangible attributes

Buyers buy the benefit

Exchange Value

Consumer Satisfaction

Elements of Product Policy

o Product planning and developmento Product Lineo Product Mixo Product Brandingo Product Style o Product Positioningo Product Packaging

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

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

Product Life Cycle (PLC)

New Product Development Stages

Idea Generation

Screening of Ideas

Business Analysis

Product Development

Test Marketing

Commercialisation

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

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

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

Kinds of Packaging

Consumer Packaging

Family Packaging

Reuse Packaging

Multiple packaging

Industrial Package

consumer Package

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

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

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.

Objectives of Advertising

Selection of Media

Sales Promotion

• “Sales Promotion means any step that are taken for Increasing Sales”

• A.H.Delanc.

Salesmanship

• Salesmanship is the art of persuasion. It is the art of serving the customer.

Doubts…?????????????????

Thank You……..@!

principles of marketing

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