Marketing Management Unit I Study Notes GGS IPU Syllabus By Himanshu Dutt

1. Batch 2012, GGSIPU
Marketing Management
Unit 1: Introduction to Marketing

2. Meaning & scope

3. Globalization
e.g. Computer: software in U.S, body in China, assembly in Taiwan, sold world
over
e.g. Trade Unions: EU – 15 countries, common currency, common standards &
regulations
e.g. Retail: Wal-Mart – affordability with convenience, made retail organised
e.g. ICT: videoconferencing, downloads, social media, online banking
e.g. Global Warming: packaging standards, recycle waste, energy conservation,
green building

4. Result
Increased Disposable Income & Consumption
e.g. rise in per capita income, GDP/GNP, higher diminishing marginal utility
Improved Standard of Living
e.g. access, reach, declined mortality rate, gadgets, literacy
Growth in Niche Markets (and products)
e.g. facetone powder, deo without gas, 3-D cinema, fair & handsome, pink
newspaper, CNG, Thai food
Varying Consumer Groups (differentiation)
e.g. ice cream flavours, grunge music genre, nanotechnology, kollywood

5. Summarizing
What are the major forces driving the New Economy?
How are business and marketing practices changing as a result of the New
Economy?

6. Marketing in new economy

7. Changing Marketing paradigm

8. WHAT IS MARKETING?
Definition
Marketing is a social & managerial process by which individuals & groups obtain
what they need & want through creating, offering and exchanging products of
value with others.
***
Marketing is the process of planning and executing the conception, pricing,
promotion, and distribution of ideas, goods, and services to create exchange that
satisfy individual and organisational goals.

9. Components of Definition
Needs, Wants & Demand
Need: can’t be created; it pre-exists (human biology)
Want: influenced desire (social status)
Demand: desire backed by money and willingness to spend (Audi 6 is a great
social status but Toyota Corolla will do)
MARKETERS DO NOT CREATE NEEDS; NEED PRE-EXIST
MARKETERS.
Marketers do not create need for Social Status but influence demand by making
the product appropriate, attractive, available to target segment.

10. Components of definition
A product can be : Idea, Good and Service
Idea: take-away meals
Goods: food in the restaurant
Service: 30 minutes delivery or free, seating
SELLERS WHO CONCENTRATE THEIR THINKING ON PHYSICAL
PRODUCT INSTEAD OF CUSTOMER’S NEED ARE SAID TO BE
SUFFERING FROM MARKETING MYOPIA.
Product is a ‘solution to a need’ for e.g. car for transportation, television for
entertainment and phone for communication.

11. Components of definition
Marketing Myopia defines product versus market orientation
e.g.:

12. Components of definition
How do consumers choose products to satisfy needs?
Based on Value, Cost & Satisfaction
Value is consumer’s estimate of the product’s overall capacity to satisfy a given
need.
e.g. travel by public bus, auto rickshaw, bi-cycle, car, bike etc. based on lowest
possible cost of acquisition, ownership and use.

13. Components of definition
Exchange
Is a ‘value creating’ process.
Barter or monetary transaction.
Marketing is the study of transactions (transaction behaviour). It seeks to elicit a
behavioural response from consumers/distributors.
MARKETING CONSISTS OF THE ACTIONS UNDERTAKEN TO
ELICIT DESIRED RESPONSES FROM A TARGET AUDIENCE.

14. Components of definition
Marketing does not end with transaction of product (Exchange stage), it goes
further towards augmenting marketing network through:
Relationship (Marketing)
A practice of building long term satisfying relationship with networks –
customers, suppliers, distributors – for business.
Competition is not between companies but rather whole networks, with the prize
going to the company that has built the better network.

15. Components of definition
Market
A meeting place of buyers and sellers to transact.
Potential customers sharing a particular need and willing to engage in exchange
to satisfy their need.
MARKETING MEANS WORKING WITH MARKETS TO ACTUALISE
EXCHNAGES FOR THE PURPOSE OF SATISFYING HUMAN NEEDS.

16. Components of definition
Marketers & Prospect
Marketer seeks prospects for exchange. A prospect is someone who is willing and
able to engage in this exchange for value.
A marketer can be both – a seller and a buyer.
e.g. In case of buying a house, several buyers will try to market themselves to the
sellers.
e.g. In seeking admission to college/job, several applicants define why their
candidature should be considered against the job/college seat.
These two are examples of ‘Reciprocal Marketing’

17. Marketing
Core Concept
Needs, wants & demands
Products (goods, services and ideas)
Value (satisfaction)
Exchange (transactions)
Relationships (networks)
Markets
Marketers & Prospects

18. Marketing management
Marketing Management is the process of formulating ideal marketing-mix whose
goal is to produce satisfaction for the parties involved.
Marketing-mix is combination of Product, Price Promotion and Placement
(called as 4Ps).
It’s task is to influence (and not create) the level, timing and composition of
demand for the company’s products in a way that will help the organisation
achieve its objective.

19. Summary

Marketers do not create needs.; need pre-exist marketers.

Marketers influence demand by making the product appropriate, attractive,
affordable & easily available to target consumers.

Marketers job is to sell the benefits or services built into a physical product
rather the product itself (or else they suffer ‘marketing myopia’).

Marketing emerges when people decide to satisfy needs and wants through an
exchange.

A marketer seeks prospects for exchange; and a prospect is someone who is
willing and able to engage in exchange.

A market consists of all the potential customers sharing a particular need or
want who might be willing and able to satisfy that need or want.

In nutshell, marketing stimulates demand for company’s products.

20. Marketing philosophies
There are 5 concepts under which organisations can choose to conduct their
marketing activities:
The Production Concept:
Concentrate on high production efficiency (low price) and wide distribution
(availability)

D > S like in most developing countries

Product’s high cost is decreased to expand the market.

21. Marketing Philosophies
The Product Concept

Focus on quality, performance & innovative features.

Improves them over the time.

Often design products with little or no customer input.

It rejects the idea of bringing marketing at the beginning of product
development.

It asks “how can public know what kind of car they want until they see what
is available”!

It leads to the kind of ‘marketing myopia’.

22. Marketing philosophies
The Sales Concept

Calls for aggressive selling and promotion effort for unsought goods – like
encyclopedia, insurance, water purifier, fire extinguisher.

Aim is to sell what they make rather than make what the market wants.
But Marketing is different from Selling/Sales. THE AIM OF MARKETNG IS
TO KNOW AND UNDERSTAND THE CUSTOMER SO WELL THAT
THE PRODUCT FITS HIM WELL AND SELLS ITSELF.

23. MARKETING PHILOSOPHIES
The Marketing Concept:

Integrating activities toward determining & satisfying the needs and wants of
target market better than competitors.

It rest on 4 pillars: target market, customer needs, integrated marketing & profitability

Target market: e.g. ‘Nothing sucks like an Electrolux’ (Vacuum cleaner)

Types of needs: stated, real (stapler or tape), unstated, delight (complimentary map
with travel guide), secret (Facebook)

Responsive Vs. Creative Marketing:
Responsive marketer finds a stated need and fills it; creative marketer discovers
and produces solutions that customer did not ask for but to which they
enthusiastically respond.

Integrated Marketing: e.g. Airlines: better food, cleaner cabins, better trained
cabin crew – combining all can deliver customer satisfaction.

24. MARKETING PHILOSOPHIES
Profitability

25. Marketing Philosophies
Selling Vs. Marketing:

Selling focuses on the needs of the seller; marketing on needs of buyers.

Selling is preoccupied with seller’s need to convert product into cash;
marketing with the idea of satisfying the needs.

26. Marketing philosophies
The Societal Marketing Concept:

Calls upon marketers to build social and ethical considerations into their
marketing practices.

Preserve or enhance consumer’s satisfaction and society’s well-being.

Environment deterioration (like Global Warming) – ecological or green marketing
E.g. Aquafina claims to save water through recycling; Aircel’s Save the Tiger
campaign;.

Hunger, Poverty, Malnutrition, Illiteracy – humanistic marketing E.g. P&Gs
‘Shikha’ model – a portion from the sale of each P&G product goes into
education for deprived, NACO on AIDS awareness.

27. Summarizing
Can you identify a company that has over the time shifted from one marketing
concept to other?
***
Can you name a category of products for which your negative feelings have
softened? What precipitated this change?

28. Steps in marketing process
Concept Development
Selling
Analysis of Market Opportunity
Implementation
Market Strategy Design
Market Testing

29. Marketing Process
Concept Development
Requires environment scanning:
-
Economic conditions: e.g. demand for high-utility low-cost products shoots up
during economic meltdown
-
Competition: e.g. real-estate developers
-
Technology: symbian or android
-
Social-cultural factors: car with brand name ‘nova’ means ‘doesn’t go’ in
Spanish
-
Political-legal factors: excise duty increased from 10 to 12%
-
Demographic factors: rice consumption is higher in coastal/hilly areas than in
plains; literacy, employment, income etc. (size and growth rate of population)
-
Ecological factors: e.g. mining – Vedanta; energy – Suzlon

30. Marketing process
Analysis of Marketing Opportunity
Requires understanding of:
-
marketing environment: e.g. market for bi-cycle will exist or not (researching
needs & trends, competition)
-
consumer behaviour: e.g. what sort of people will buy bi-cycle? (buying behaviour
and buying decision process)
-
segmentation: e.g. mountain bikes
-
targeting: e.g. customers who love hiking on cycle trails in mountains
Firefox company is one example who markets mountain bikes (cycles) to hikers.
The company analyzed and found a (niche) market with hikers.

31. Marketing process
Market Strategy Design
Strategies related to 4 Ps or Marketing-Mix that is based on:
d) Differentiation & b) Positioning
-
Differentiation: is the act of designing a set of meaningful differences to
distinguish the company’s offering from competitors’ offerings.
-
Volume Industry: few but large competitive advantages – like construction.
-
Stalemated Industry: small and few competitive advantages – like steel industry. Hard to
differentiate the product or decrease manufacturing costs.
-
Fragmented Industry: many opportunities to differentiate but each opportunity is small –
like Restaurant.
-
Specialized Industry: many opportunities and each gives high payoff.

32. Marketing process
Differentiation variables
Product Services Personnel Channel Image
features ordering ease competence coverage symbol
performance delivery courtesy expertise media
durability installation credibility performance events
reliability customer reliability
training
repairability maintenance responsiveness
style communication
design

33. Marketing process
Positioning
Brand can sometimes successfully differentiate on attributes that appear to create
a meaningful product difference but are actually irrelevant to creating that
benefit.
Positioning is the act of designing the company’s offering and image so that they
occupy a meaningful and distinct competitive position in the target customer’s
minds.
The end result of positioning is the successful creation of a market focused value
proposition (30 minute pizza delivery), a simple clear statement of why the target
market should buy the product (taste, low price, hot and fresh, quality pizza).

34. Marketing process
Positioning
A company selects the way in which it will distinguish itself from competitors
based on the following criteria:

Important: product delivers highly valued benefit (e.g. Aquaguard: cleanse the
impurities of water and cuts down on your health expenses).

Distinctive: not being offered by other like Aquguard claims 3 ways process -
UV rays cleanse the impurities, reverse osmosis and a candle filter.

Superior: in comparison to other – Aquaguard – a TATA product.

Communicable

Preemptive: difference is unique that it cannot be easily copied.

Affordable: for TG

Profitable: to company

35. Marketing process
Marketing Mix: is set of marketing tool that a firm uses to pursue its marketing
objectives in a target market.
McCarthy popularized a 4 factor classification of these tools called as 4Ps.
4Ps represent the sellers’ view of the marketing tools available for influencing
buyers. It means each marketing tool is designed to deliver a customer benefit.
Product – variety, quality, design, features, brand name, packaging, sizes, services,
warranties, returns
Price – list price, discount, allowances, payment period, credit terms
Promotion – sales promotion, advertising, direct marketing, PR
Placement – channels, coverage, assortments, locations, inventory, transport

36. Marketing process
Marketing mix
Robert Lauterborn suggested that sellers’ 4Ps correspond to the customers 4Cs.
4 Ps 4 Cs
product customer needs & wants
price cost to the customer
placement convenience
promotion communication

37. Marketing process
Market Testing:

ascertain if the proposed market is favorable to firm’s product

usually done through pilot tests/ sampling using market research methods
like forecasting, trend projection etc.

Market testing uncovers the gaps between firm’s understanding of target
market and behaviour of the market towards firm’s product.
Implementation:

putting plan to action or execution after feedback from market testing.
Selling:

product sales to generate revenue for the firm.

Give further inputs in product development – better, faster, cheaper.

38. Marketing Process
Summary
Marketing Process consists of analyzing marketing opportunities, developing
marketing strategies, planning marketing programs, and managing the
marketing effort.
It involves:
-
ascertaining the generic needs
-
developing and offering a product to fulfill those needs
-
devising strategies to support the product being offered
-
focus on public interest (primary) and profits (secondary)

39. Marketing segmentation
WHY?
A firm can’t serve all customers in the market because:
4) customers are too numerous and diverse in their buying requirements &
5) resources are limited.
Therefore, firm needs to identify the market segment that it can serve most
effectively.

40. Market segmentation
•
Identify and profile distinct groups of buyers who might require separate
products or marketing-mix.
•
Because buyers differ in their wants, purchasing power, geographical
locations, buying attitudes and buying habits.
•
A market segment consists of a large identifiable group within a market.

41. Level of Market segmentation
5 LEVELS of MARKET SEGEMENTATION
•
Mass Marketing – seller engages in the mass production, mass
distribution, and mass promotion of one product for all buyers.
•
Segment Marketing – recognizes that buyers differ in their wants,
purchasing power, locations, buying habits. For e.g. car buyers seeking
luxury (Rolls Royce); some seeking safety, (BMW) some just the basic
transport (Alto), some seeking high performance (Audi) and some seeking
tough looks (Fortuner).
•
Niche Marketing – represent a more narrowly defined group, a small
group whose needs are not being well-served. It is one of sub-segments of
a segment. It is characterized by distinctive set of traits who may seek a

42. Level of Market segmentation
5 LEVELS of MARKET SEGEMENTATION
4) Local Marketing – refers to marketing programs being tailored to the
needs and wants of local customer groups (Regional-basis).
5) Individual Marketing – means customized marketing or one-to-one
marketing i.e. individually designed products to meet each customer’s
requirements.

43. Patterns of segmentation
3 PATTERNS of SEGMENTATION
•
Homogeneous – all consumers have roughly the same preference. One
brand. E.g. Ice Cream with high sweet-high cream.
•
Diffused – consumers vary greatly in their preferences. Several brands. E.g.
Ice Cream with less sweet-less cream; high sweet-less cream; less sweet-high
cream; and high sweet-high cream is already there.
•
Clustered – cluster of several brands competing for market share.

44. Bases for Segmentation
5 BASES for SEGMENTATION
•
Geographic Segmentation: dividing the market into different geographical
units such as nations, states, regions, cities, density, climate, topology etc.
E.g. coffee – sold nationally but flavoured regionally or for e.g. coffee in
more popular in South India while North Indians prefer tea.
•
Demographic Segmentation: age, life cycle stage (infant, adult, old),
gender, income, social class (status).
•
Psychographic Segmentation: 2 different groups –
i) Lifestyle: cosmetics, beverages, furniture etc.
ii) Personality: independent, impulsive, masculine etc.

45. Bases for Segmentation
4. Behavioural Segmentation: the variables are:
i) Occasions: marriage, injury, illness, retirement, death (e.g. McDonald’s Breakfast,
Valentines’ Day)
ii) Benefits (e.g. toothpaste’s benefit – medicinal, taste, cosmetic, economical)
iii) User Status (non-users, extra-users, first time users, habitual/regular users)
iv) Usage Rate (light, medium, heavy users)
v) Loyalty (hardcore loyals, split loyals, shifting loyals, switchers)
vi) Buyer-readiness stage (aware, unaware, informed, interested, desiring, intending to
buy).

46. Bases for segmentation
5. Multi-attribute Segmentation (Geo-clustering)
The inhabitants in a cluster tend to lead similar lives, drive similar cars, have
similar jobs, read similar magazines.
Normally based on Education and affluence, Family lifecycle, urbanization, race
and ethnicity, mobility.
E.g. emerging, upscale, ethnic, big city mosaic, buy imported cars, read Hello
magazine, eat high-end cornflakes, play tennis, wear designer clothes, annual
income 1 Cr.

47. Market segmentation
Requirements for Effective Segmentation
To be useful market segment must be:
4) Measurable – the size, purchasing power and characteristics of the segments
can be measured.
5) Substantial – the segments are large & profitable enough to serve. A
segment should be the largest possible homogeneous group.
6) Accessible – the segments can be effectively reached & served.
7) Differentiable – the segments are distinguishable & respond differently to
different marketing-mix.
8) Actionable – effective programs can be formulated for attracting & serving
the segments.

48. targeting
Targeting involves 2 steps:
1) Evaluating The Market Segments – The firm must look at 2 factors:
•
Overall attractiveness of the segment (such as size, growth, profitability,
share) and,
•
Company’s objectives & resources (i.e. whether investing in the segment
makes sense given the firm’s objectives & resources.)

49. targeting
2) Selecting The Market Segment – Which one out of the 5 segments?
•
Single-Segment Concentration: company selects a single segment. For
e.g. small size car segment.
Its features are:

firm gains a strong knowledge of the segment’s needs & achieves a strong
market position in the segment.

Firm enjoys ‘scale of economics’ & achieve specialization in production,
distribution and promotion.

But risk is high.

50. targeting
ii) Selective Specialization: multi-segment coverage to diversify the risk of one
segment. Even if one segment becomes unattractive, the firm can continue to earn money
in other segments.
M1 M2 M3
P1
P2
P3

51. Targeting
iii) Product Specialization: single (same) product being sold to several
segments. For e.g. a microscope seller that sells microscope to university labs,
govt. labs, and commercial labs. Risk here is the obsoletion of the technology
with superior one.
M1 M2 M3
P1
P2
P3

52. targeting
iv) Market Specialization: the firm concentrates on serving many needs of a
particular customer group. For e.g. the same microscope seller, selling burners,
chemical flasks, funnels to the university labs.
M1 M2 M3
P1
P2
P3

53. Targeting
v) Full market coverage: the firm attempts to serve all customer groups with all
the products that they might need. Only a large firm can undertake a full market
coverage strategy. E.g. Coca Cola (soft drink market); General Motors (All
vehicle market), IBM (servers).
M1 M2 M3
P1
P2
P3

54. Consumer behaviour
Studies how individuals, groups & organisations select buy, use & dispose goods,
services, ideas or experiences to satisfy their needs & wants.
7 O’s Framework to identify consumer behaviour:

Occupants: who constitutes the market?

Objects: what does the market buy?

Objectives: why does the market buy?

Organisations: who participates in the buying?

Operations: how does the market buy?

Occasions: when does the market buy?

Outlets: where does the market buy?

55. Consumer behaviour
Model of Consumer Behaviour
Marketing Marketing Buyer’s Buyer’s Buyer’s Decision
Stimuli Environment Characteristics Decision Process
Product choice
Product Economic Cultural Problem recognition Brand choice
Price Technological Social Information search Dealer choice
Promotion Political Personal Evaluation Purchase timing
Placement Cultural Psychological Decision Purchase amount
Post purchase behaviour

56. Consumer behaviour
Factors Influencing Consumer Behaviour
•
Cultural Factors: includes a) Culture (set of values, perceptions), b) Sub-
culture (culture within culture), c) Social class (caste system wherein members
of different caste share similar values, interests and behaviour, reflects in
income, occupation, education, area of residence).
•
Social Factors: includes a) Reference groups (groups that directly or indirectly
influence the person’s attitudes or behaviours), b) Family and c) Roles &
Statuses.

57. Consumer behaviour
3. Personal Factors: a) Age & lifecycle stage (infant stage, old age), b) Occupation, c)
Economic circumstances – disposable income, savings, assets, debts, borrowing
power, attitude toward spending & savings, d) Lifestyle – people coming from
same subculture, social class, and occupation may lead quite different lifestyles
reflected in their activities, interests, opinions & e) Personality & Self image –
personality is person’s distinguishing psychological characteristics or traits like
self confidence, defensive, adaptable, social, independent etc. Self image is how a
person sees himself, different from others.

58. Consumer behaviour
4. Psychological Factors: needs that arise from psychological states of tensions
are called psychogenic needs.
•
Motivation – presses to drive the person to act. 3 theories: Freud’s theory –
real psychological forces shaping people’s behaviour are largely unconscious.
Thus, it would require in-depth interviews. E.g. adopting vegetarianism due
sense of guilt for animal killing or due to health benefits. Maslow’s theory –
moving from psychological need to self actualization needs thus moving
from lower need to higher need. Herzberg’s two-factor theory – which
distinguishes between dissatisfiers and satisfiers. E.g. computer without
warranty is not likely to be purchased (it would be a dissatisfier) yet its not
the warranty for which computer is being purchased. It for the satisfiers the
computer is being purchased like ease of use, enhance office productivity
etc.

59. Consumer behaviour
b) Perception – is the process by which we interpret information to create
meaningful picture.
Types of Perception:
Selective Attention – people are likely to remember stimuli that relate to a current
need (thirsty person will notice water bottle) , or that are large enough in
comparison to be noticed (accident).
Selective Distortion – people’s tendency to twist information into personal meanings
and interpret information in a way that will support their preconceptions. (you
discount the negatives about a brand if you like it for e.g. IBM ThinkPad).
Selective Retention – you only tend to remember what good points you have heard.

60. Consumer behaviour
c) Learning: involves change in a an individual’s behaviour arising from
experience.
d) Beliefs & Attitudes: Through learning, people acquire beliefs and attitudes.
Belief is a descriptive thought that a person holds about something. For e.g.
Made in China is considered inferior. Japan, contrary, is known for high-tech
innovations. France is fashion-market of the world; German cars are best in the
world, Corruption in India has grown multifold etc.
Attitude is person’s favourable or unfavourable evaluations, emotional feelings,
and action tendencies toward some idea or object. E.g. God is great, IBM makes
best servers, Sachin is world’s best batsman…People have attitudes toward
almost everything – religion, politics, clothes, sports, music, food…

61. Demand forecasting

Company needs to measure and forecast the size, growth, and profit potential
of marketing opportunity.

Marketing prepares ‘Sales Forecasts’ – based on demand estimates.

Demand can be measured for different product levels (industry sales,
company sales, product-line sales, product item sales), different space levels
(World, Country, State, City) and different time levels (short term, medium,
and long).

Market Demand: for a product is the total volume that would be brought by
a defined customer group in a defined geographical area in a defined time
period in a defined marketing environment under a defined marketing
program.

Company Demand: is the company’s estimated share of market demand
based on its marketing efforts.

62. Demand forecasting
•
Market forecast shows expected market demand (not the maximum demand).
•
Market Potential is the limit approached by market demand.
•
For e.g. market potential for automobiles in a period of recession versus a
period of prosperity.
•
Estimating Current Demand is based on 3 things:
•
TOTAL MARKET POTENTIAL
•
AREA MARKET POTENTIAL – 2 types: Market Buildup & Multiple-factor Index
•
INDUSTRY SALES & MARKET SHARES

63. Demand forecasting
Total Market Potential: (e.g. Samsung laptops market potential in Delhi)
Q = nqp
where, Q = total market potential
n = number of buyers (1,00,000,00 buyers)
q = quantity purchased by an average buyer (1 laptop per yr)
p = price of an average unit (Rs. 30,000)
Q = 1,00,000,00 x 1 x 30,000 = 3000, 00000000 (3000 Cr.)

64. Demand forecasting

Area Market Potential: estimate market potential based on geography.

Two methods are available: Market Buildup Method & Multiple Factor Index
Method.

Market Buildup Method: used primarily by business marketers. It calls for
identifying all the potential buyers in each market and estimating their
potential purchases. For e.g. a raw aluminum supplier might identify
aluminum based manufacturing companies, and compiles a directory of such
companies. Then, it identifies amount of raw aluminum each company might
purchase based on number of headcounts (say per 1000 employees in that
industry) or based on percentage of the amount spent (say per Rs. 1 million
of Sales in that industry).

65. Demand forecasting
Multiple-factor Index Method: used primarily by consumer marketers to estimate
area market potential.
E.g. a drug manufacturer wants to find out area potential for its new drug in New
Delhi.
He can create a multiple factor index made up of total population in Delhi, disposable
income, retail sales. Each factor is assigned some weight based on its perceived
importance to the company. For e.g. disposable income is most important therefore
could be assigned 5% (or 0.5) as weight. Similarly, 0.3 to retail sales in India and 0.2 to
population.
Now, suppose Delhi has 2% of India’s disposable personal income, 1.96% of India’s
retail sales and 2.28% of India’s population – then the buying power index of Delhi
would be:
0.5 (2) + 0.3 (1.96) + (0.2) (2.28) = 2.04

66. Demand forecasting
Industry Sales & Market Shares:
Deals with identifying its competitors and estimating their sales by collecting data
from trade associations like TRAI for Telecom, ASSOCHAM (chambers of
commerce), FICCI (industry reports), RBI for Banks etc. IMRB, A.C Neilson
etc. independent marker agencies also conduct specialized surveys to report sales
and market shares.
Marketers can compare industry growth with respect to its own. For e.g. industry
is growing at 10% while company’s growth has declined for this respective period
where overall market attractiveness and growth was high would mean company is
losing its strength.

67. END OF UNIT I
Contents are copyright work of authors and hence protected. The contents in
this presentation have been used from Philip Kotler's Marketing Management :
Planning, Analysis, Implementation & Control. These notes are my personal
and based on my understanding and interpretation of the book.
These notes are purely for non-commercial use.