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Marketing Management

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Introduction to marketing
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Marketing Management

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Meaning of Market, Marketing, Scope of Marketing Management, Difference between marketing & selling, Retail marketing, retail organisation, store and non-store retailing.

Meaning of Market, Marketing, Scope of Marketing Management, Difference between marketing & selling, Retail marketing, retail organisation, store and non-store retailing.

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Marketing Management

  1. 1. Marketing Management Asst Prof. Parasmani Jangid SDJ International College
  2. 2. Meaning Sale: A sale is a transaction between two parties where the buyer receives goods (tangible or intangible), services, and/or assets in exchange for money. A sale functions as a contract between the buyer and seller of the selected good or service. Sales Management: The attainment of sales force goals in an effective and efficient manner through planning, staffing, training, directing, and evaluating organizational resources.
  3. 3. Meaning • Market: A market is a medium that allows buyers and sellers of a specific good or service to interact in order to facilitate an exchange. This type of market may either be a physical market place where people come together to exchange goods and services in person or a virtual market where in buyers and sellers do not interact, as in an online market. • Marketing: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.-AMA
  4. 4. Characteristics of Marketing • Economic Function (exchange of Money) • Legal Function (legally transfer the ownership) • Consist of various activities (pricing, planning of sales, distribution, after-sale services, product decision, research, sales, etc.) • It is a System (which sub parts are interdependent and interrelated) • Its Function is to Satisfy Customers • Useful for non-business units (donation, charity, collection for social work) • It is a Social Process (serve the society according to their satisfy) • Everything Business does is Marketing (economic organ)
  5. 5. Definition • Marketing Management • “Marketing Management is the Analysis, Planning, Implementation & Control of the program designed to create, build & maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives.”–Philip Kotler • “Marketing management includes all those activities which are required for converting peoples purchasing power into effective & real demand.”
  6. 6. Difference between Marketing and Selling Sr. No. Point of Difference Marketing Selling 1 Scope Wider scope as covers all the activities including selling. Exchange of goods or services in terms of money 2 Focus On needs of customers On transferring the ownership 3 Objective Earn profits through customers satisfaction Maximize profit through increase in sales volume. 4 Begin when and continue till Before production and continue even after sales. After production and with sale of the product 5 Strategy Product promotions, pricing and distribution Promotion to sell more 6 Emphasis On development of products according to customer’s needs On bending the customers according to product
  7. 7. Scope of Marketing Management 1. Market Research (for collecting information) 2. Sales Planning (forecast the market demand & set the sales target) 3. Product Planning (changing needs, tastes, preference, etc.) 4. Inspecting Raw-materials (inspecting quality, quantity, etc.) 5. Pricing (Competitors’ price, Cost of Production, Return of Investment, etc.) 6. Sales Policy (Credit Policy, Collection Policy, etc.) 7. Determining Channels of Distribution (select the proper channel)
  8. 8. 8. Advertising & Publicity 9. Sales Promotion 10. After Sales Service (separate department is maintained) 11. Budgeting (estimate for various marketing activities) 12. Managing Sales Force (Recruitment, Selection, Motivation, directing, Controlling, etc.) 13. Preparing Marketing Strategy (Pricing policy, Credit policy, Cash & Trade Discount policy, etc.) 14. Marketing Control (control over marketing management)
  9. 9. Importance 1. Industrial Development 2. Conversion of potential Needs into Effective Demand 3. Development of Managers and Entrepreneurs 4. Development of small scale Industries 5. Division of labour and specialisation
  10. 10. 6. Large scale consumption 7. High Living Standard 8. Development of Business Standards 9. Growth of Exports 10.Employment Generation
  11. 11. Various Concept of Marketing 1. Production Concept 2. Product Concept 3. Selling Concept 4. Marketing Concept 5. Societal Marketing Concept
  12. 12. • Production Concept • The first thirty years of 20th century, most of the manufacturers and industrialist were following the production concept of more supply creates demand. • Production Concept is a belief that the customers would always acquire products which are cheaper and more readily available (or widely available). The production concept advocates that more the products or production, more would be the sales. • Point to be focused • Low price goods • Consumer know all the supplier of the product • Price to be charged is important for consumer • Concentrate on low cost production.
  13. 13. • Product Concept • In the 1930s, manufacturers were facing the challenge of winning the customers. With the passage of time, they realized that the customers were willing to pay more for the better products. • Product concept is the understanding of the dynamics of the product in order to showcase the best qualities and maximum features of the product. ... Marketers will look into a product concept before marketing a product towards their customers • Here is an example of a product concept statement for a company that is introducing a new in-cup tea brewing system: Example: Many people enjoy drinking tea, but are concerned about the environmental impact of discarding teabags, some of which are made from bleached paper or contain non-biodegradable materials
  14. 14. • Selling Concept • Put more stress on sales promotion efforts • The selling concept holds the idea- “consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.” • the management focuses on creating sales transactions rather than on building long-term, profitable customer relationships. • In other words, the aim is to sell what the company makes rather than making what the market wants. Such an aggressive selling program carries very high risks.
  15. 15. • The Marketing Concept • The marketing concept is the concept of competition. It is a marketing concept that believes that the success of a business depends on the marketing efforts that deliver a better value proposition than its competitors. • This concept focuses on the needs and wants of target marketing as well as delivering value better than its competition. Through marketing, it’s your goal to be the preferred option compared to your competitors. Competitive advantage is key! • We find typically this in the 1950s era of companies trying to carve themselves out in the industry. We also can look at modern-day competition between Pepsi and Coke who sell similar items but their value propositions are completely different!
  16. 16. Characteristics of marketing concept • Consumer-oriented Philosophy • Emphasis on Research • Goal of profit to Both Parties • Market-oriented Organisation • Change according to market Environment • Integrated Marketing Policy
  17. 17. • Societal marketing concept • The societal marketing concept is the most progressive and modern- day applicable marketing mindset to have. It is a marketing concept that believes in giving back to society by producing better products that he • This orientation arose as some questioned whether marketing and businesses are addressing the massive problems society has like environmental deterioration, resource shortages, population growth, poverty, and social disruption. lp the world be a better place.
  18. 18. Retail Marketing • A basic platform to encounter with goods and a shop keeper for the first time. • Maintaining a certain profit margin, these shop keepers sell goods to their consumers. • Customers needs are the basic key factors of retail. • It consists of 5 basic pillars: • Save precious time of customers • Set right price of the goods • Create a proper connection (emotional) • Right respect to customers • Solve the problems of the customer • Creating customer loyalty is the basic function of retail. Once it has been created, it would be easier to stay in market for longer period of time. • It takes years for a brand to create customer loyalty.
  19. 19. Definition of Retail Marketing • According to Philip Kotler, • “Retailing includes all activities involved in selling goods or services directly to the final consumers for their personal, non-business use. Any organisation that does this selling-whether a manufacturer, wholesaler or retailer is doing retailing. It does not matter how the goods or services are sold or where they are sold.”
  20. 20. Types of Retailers • Store retailing is when the store uses a space to display products where customers can purchase them. Such as Departmental stores, Super markets, General Stores, Hyper markets, etc. • Non-store retailing is when the retailer doesn't have a physical space. Such as Amazon. Non-store retailing might also be direct sales (the door to door salesman) or the automatic vending machines
  21. 21. Stores Retailing • Convenience stores • Specialty Stores • Departmental Stores • Super Markets • Discount Stores • Off price Stores • Super Stores • Catalogue Show Rooms
  22. 22. • Specialty store: Specialty stores carry very limited product lines with deep assortment. They offer a wide choice in terms of models, size, style, color and other important at tributes in the assortment carried. • Department store: A departmental store is a large retail out let that handles a wide variety of lines of product. It has a wide as sort ment in each line and is organized in to separate departments for purposes of buying, promotion, services and control.
  23. 23. • Super markets: A super market is designed to serve the total needs for food, laundry and household maintenance products. It is relatively large in size. Its operation is low cost, low margin, high volume and self service in nature. • Convenience store: A convenience store is located near residential area. It is relatively small. It is kept open for long hours. A limited lines of convenience products are offered for sale. The prices charged are slightly higher.
  24. 24. • Discount store: A discount store sells standard merchandise at lower prices. Higher volumes of sales compensate lower margins and increase the overall profitability. Discount retailing has moved into specialty merchandise stores such as sport goods stores, electronics stores and book shops. • Off price retailer: An off-price retailer sells left over goods, over runs, and irregulars obtained at reduced prices from manufactures or other retailers. Off price retailers may be of three types. • 1.Factory outlets • 2.Independent off price retailer • 3.Warehouse clubs
  25. 25. • Super store: Super stores are retail stores which are huge in size and have many different categories under their belt. Think of a Super store having everything under its roof. These retail stores are not found in malls. Rather they are malls by themselves. • Catalogue show room: It usually refers to retail outlets which deal in hard goods like electronics, jewellery, house-ware etc. They a relocated next to or in close proximity to their warehouses
  26. 26. Non-Stores Retailing 1. Direct selling 2. Automatic Vending 3. Buying Service Selling 4. Direct Marketing
  27. 27. • Direct Selling: Otherwise called as multi level selling and network selling, that involves door to door selling or at home sales parties. Here, in this process the sales person of the company visit the home of the host, who has invited acquaintances, the sales person demonstrate the products and take orders. • Automatic Vending: Vending machines are primarily found in offices, factories, gasoline stations, large retail stores, restaurants etc. which offer a variety of products including impulse goods such as coffee, candy, newspaper, soft drinks etc.
  28. 28. • Buying Service: The retail organization serves a number of clients collectively, such as employees of an organization, who are authorized to purchase goods from specific retailers that have contracted to give discount, in exchange for membership. • Direct Marketing: In this process, consumer direct channels are employed by the company to reach and deliver products to the customers. It includes direct mail marketing, catalog marketing, telemarketing, online shopping, etc.
  29. 29. Retail Organizations • Company chain Stores (Big companies go for this like Bata Footwear retail company ) • Voluntary Chain (wholesaler creates their own ecosystem of market) • Consumer Cooperatives (to just get out of the exploitative tactics used retailer/wholesaler, consumer create their own co-operatives) • Franchise Organization (establish the brand's trademark or trade name and a business system, and a franchisee for the right to do business under the franchisor's name and system at the same time one has to pay the royalty) • Merchandising Conglomerate (corporation that is made up of a number of different, sometimes unrelated businesses)
  30. 30. Thank You

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