Importance of marketing for small and middle level

businesses

Presented by… MANOJ SINGLA MO923

M.B.A.

Importance of marketing for small and middle level

businesses

seller buyer

A situation……Two girls walk into their local café coffee day

outlet, and which happens to be in Delhi. One goes to the counter and purchases two coffees and some pastries. The other sits at a table and opens her Lenovo think pad R60 notebook computer. Within a few second, she connects to the internet using Airtel’s data card. Once on the net, the girl “Googles”

Contd….

Contd…. The name of the Band that played the

soundtrack of the movie she saw yesterday. A number of web sites come up along with ads. One of the ads was for the soundtrack CD and movie DVD. When the clicks through to the ad, the search engine giant Google rings up some money.

Contd….

Now her friend has returned with the coffee and the pastries. She’s eager to show off her parents’ gift to her on her birthday: a maroon MOTORAZR cell phone created by a team of young companies designers after months of market research and consumer tests. The two girls are admiring the slender phone when it receives a text message.

contd….

Announcing the availability of the

latest ringtones that can be downloaded on the phone. They turn to the laptop and get connected to you tube.com to learn about popular music and movies….

What is Marketing ?

We use the word Marketing to describe such things as…

• Analyzing the needs of the people• Trying to guess what types of products

they want• Estimate how much they will buy• Predict when they will want to buy• Determine where they go to buy the stuff

Contd…

What is Marketing ?

And,

Figure out the best price to sell it at - and …. can you still make a profit selling it at that price

• Decide on promotional things to create awareness about the product

• Look at the competition to see what they are doing with pricing, features etc.

Introduction

• “Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customers relationship in way that benefit the organization and its stakeholder.”

Contd….

Contd….

• Marketing is about identifying and meeting human needs and wants.

• One of the shortest good definitions of marketing is “marketing needs profitably”

The Importance of Marketing

• Marketing is a core business discipline.

• We can buy products from all over the world.

• The study of marketing is important to the basics of running a business, big or small.

Marketing is very much differ from selling

• Selling.. selling is the oldest concept of product

marketing. “The purpose of marketing is to sell more

stuff to more people more often for more money in order to make more profit.”

contd….

Contd…..

But the marketing…….. is the new concept of

product selling emerged in the mid-1950s. Here is customer is the king of market.

“make-and-sell philosophy, business shifted to a customer-centered. The job is not to find the right customers for your products, but to find the right products for your customer.”

Importance of marketing for small Business

• Marketing is, in my opinion, next to the actual service you offer, the most important aspect of your business. No matter how good you are, no one knows the full extent of your expertise or the premium quality of your customer service until they have actually purchased your service. They only know what your marketing effort is. And all of us, many times a day, every day of the week, are making purchase decisions based on nothing more than what amounts to the marketing we see of that service provider or product.

So now that……

• we all agree marketing is not only important but really a critical part of the success of your Small business.

• When you buy a product - the cost of marketing amounts to 40-60% of the total

eg. If we buy shoes for rupees 1000,rupees 500 of that 1000 has been spent on marketing (including advertising, market research, development etc.)

Importance of marketing for middle level Business

financial success often depends on marketing ability. planning success often depends on marketing ability. make relationship with small level enterprises as well as high level enterprises.

SOURCES OF INFORMATION…..

PHILIP KOTLER• KEVIN KELLER

ABOUT.COM AUTHERSTREAM.COM

MARKETING MANAGEMENT BY…… &

Thanks