Marketing Management, objectives, concepts, functions, scope and etc

Marketing Management

1. Marketing Management Dept. of B.Com. BPS - Marketing Management

2. Objectives of marketing Dept. of B.Com. BPS - Marketing Management

3. Objectives of marketing Increase Brand Awareness - Importance of being recognized by the target audience Generate Leads - Explanation of what leads are Customer Acquisition - Strategies for customer acquisition Customer Retention - loyalty programs, excellent customer service Increase Sales - upselling, cross-selling, seasonal promotions, Sales increase through effective marketing campaigns Enhance Customer Satisfaction – Enter New Markets – Improve Brand Loyalty – engagement programs, consistent quality Gain Market Share - Strategies to increase market share Enhance Digital Presence - Brands with notable digital transformation Foster Innovation - Benefits of innovative marketing Measure Performance - Use of analytics tools to measure marketing success Dept. of B.Com. BPS - Marketing Management

4. Dept. of B.Com. BPS - Marketing Management

5. Dept. of B.Com . BPS - Marketing Management Selling It is the needs of the seller, it is an internal aim of a business. Selling involves around the needs and interest of the seller. Selling seeks profits by pushing the products on the buyers. Selling is certainly a part of marketing. That is the last function in the process of marketing.

6. Dept. of B.Com. BPS - Marketing Management

7. Dept. of B.Com. BPS - Marketing Management

8. Dept. of B.Com. BPS - Marketing Management

9. Dept. of B.Com. BPS - Marketing Management

10. Dept. of B.Com. BPS - Marketing Management

11. Dept. of B.Com. BPS - Marketing Management Buying Marketing is concerned with buying and selling. Buying and selling are very close to each other. They are inseparable. If once person wants to buy a product then another person who is having that products, must be willing to sell it. Only if he sell the product, the buyer can buy that products. The person who buys the product is called the buyer. Pyle Defines, “Buying comprises all those acivities involved in finding a suitable source of supply, selecting the desired quantity, quality, grade, style and size and coming to an agreement with reference to the price, delivery data and other conditions”.

12. Dept. of B.Com. BPS - Marketing Management Assembling According to Holtzcla , assembling means, “the seeking out of sources of supply, buying wisely as quantity, quality and variety and making commodities available when and where they are wanted”. Goods are collected from big and small towns and villages at a central place for their further movement to the factory, mill or consumer etc. Assembling is helpful to the producers and the consumers. The meaning of assembling is finding the source of supply, buying the commodities and making them available at the time when they are needed and at the place where they are wanted.

13. Dept. of B.Com. BPS - Marketing Management Transportation Transportation means the physical movement of persons and goods from one place to another. For the large scale development of trade and commerce, cheap and rapid transport is essential. Transport is the blood stream of a nation’s economy. Functions of Transport It encourages large-scale production It increase the Mobility of Factors of production It encourages specialization and Division of labour It helps in stabilizing price It provides employment opportunities

14. Dept. of B.Com. BPS - Marketing Management Transportation It Strengthens the defence of a nation it reduce the danger of shortages It helps in the transformation of the economy It transform social and cultural structures. It increase demand for Goods.

15. Dept. of B.Com. BPS - Marketing Management Classification of Transport I Land Pathway Road Railway Others II Water Inland ( i ) River (ii) Canal Ocean ( i ) Coastal (ii) Overseas III Air International Internal

16. Dept. of B.Com. BPS - Marketing Management Storage Storage can be defined as once of the marketing functions, involving preservation of goods between the time of production and the time of consumption. It is a process of holding preservation of foods from their production time to the consumption time. There must be a gap between the time of production and the demand for it, as long as the production continues. Storage is essential to protect the goods carried over from deterioration in order to use them in the period of scarcity.

17. Dept. of B.Com. BPS - Marketing Management Situation Require Storage Seasonal Production, But Uniform consumption Uniform production, but seasonal consumption Protection of goods To maintain balance between demand and supply Complex of economic system.

18. Dept. of B.Com . BPS - Marketing Management Warehouse The place, where the goods are is known as warehouse. Warehouse implies a house for wares. Wares means products. A warehouse or a godown is a room or a building for the accumulation of goods, possessing facilities to perform other marketing function. A warehouse must provide a better view and a clear differentiation chart regarding the article stored.

19. Dept. of B.Com . BPS - Marketing Management Standardisation Duddy and Tevzan define, “ Standardisation is the process of determining of classes or grades of a product or service that have fixed limits”. International Organization defines, “ Standardisation is the process of formulating and applying rates for a orderly approach to the specific activity for the benefit and with the co-operation of all concerned and in particular for the promotion of optimum overall economy, taking due account of functional conditions and safety requirements”.

20. Dept. of B.Com . BPS - Marketing Management Grading Grading means the division of products into classes made up of units possessing similar characteristics of size and quality. It is the task of separating the products on the basis of predetermined norms or standards. Thus standard determines the quality and grading. The process of dividing a quality of the same kind of goods into uniform groups according to certain standards of size, shape, colour , texture, degree of cleanliness and other significant characteristics.

21. Dept. of B.Com . BPS - Marketing Management Benefits of Standardisation and Grading Simplified sales Reduced Marketing cost Future sales facilitated Simplifies financing Satisfaction of the consumers Wider market Low transport cost Buyer’s satisfaction Consumers pay right price Easy realization of claims Long period contracts

22. Dept. of B.Com . BPS - Marketing Management AGMARK AGMARK, or Agriculture Mark, is the certification mark to assure the quality of agricultural products in India. AGMARK acts as a  third party  guarantee for the agricultural products that are produced and consumed in India. The system traces its origin to 1934, where Archibald MacDonald Livingstone, Agricultural and Marketing Advisory to the Government of India, suggested that this certification come into force to benefit the local growers and prevent undue exploitation by the dealers of the produce.

23. Dept. of B.Com . BPS - Marketing Management ISI (The Indian Standard Institution) It was wet up in 1947 by the Central Government to promote and adopt Indian Standards in all branches of industry and commerce. The aim and object are : To approve and promote the general adoption of standards, prepared by it to National and International levels. To prepare the standards for products, commodities, materials and processes. Certification of Industrial goods. Circulation of information relating to standards and satisfaction.

24. Dept. of B.Com . BPS - Marketing Management BIS (Bureau of Indian Standards) BIS is the National Standard Body of India established under the BIS Act 2016 for the harmonious development of the activities of standardization, marking and quality certification of goods and for matters connected therewith or incidental thereto.BIS has been providing traceability and tangibility benefits to the national economy in a number of ways – providing safe reliable quality goods; minimizing health hazards to consumers; promoting exports and imports substitute; control over proliferation of varieties etc. through standardization, certification and testing. .

25. Dept. of B.Com . BPS - Marketing Management Business Finance Finance may be defined as the provision of money. Finance is the study of methods to obtain money and credit. Financing is the act of providing money and credit. Ownership capital is limited. The finance needed to run a business as a whole is known as Business Finance and the finance needed to market the products is known as Marketing Finance.