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.

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


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

Local

International

On the Basis of Goods

Commodity

Capital Market

On the Basis of

Economics

Perfect Market

Imperfect Market

Basis of transaction

Spot

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



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.



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


Goods

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

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

Cost

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 development

o Product Line

o Product Mix

o Product Branding

o Product Style

o Product Positioning

o 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


https://www.icosstech.com/branding/

https://www.icosstech.com/branding/

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…?????????????

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

http://kalvikalanjiam.com/english/2013/05/12/tnea-201-frequently-asked-questions-2/

http://kalvikalanjiam.com/english/2013/05/12/tnea-201-frequently-asked-questions-2/

Thank You……..@!


Principles of marketing

Marketing

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