Modern Marketing - Unit I - Meaning and Definition of Markets, Classification of Markets, Objectives, Difference between Selling and marketing

Modern Marketing - Meaning and Definition of Markets, Classification of Markets, Objectives, Difference between Selling and marketing - Approaches in Marketing - Evolution - concepts of marketing.

1. II B.Com. BPS
Unit –I
Modern Marketing
Dept. of B.Com. BPS -Marketing Management
Dr.D. Moorthy
Head & Associate Professor
Dept. of Commerce –BPS
Sri Ramakrishna College of Arts & Science,
(Autonomous)
Coimbatore –641 006.
Tamil Nadu

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

3. Objectives of marketing
1.Increase Brand Awareness -Importance of being recognized by the
target audience
2.Generate Leads -Explanation of what leads are
3.Customer Acquisition -Strategies for customer acquisition
4.Customer Retention -loyalty programs, excellent customer service
5.Increase Sales -upselling, cross-selling, seasonal promotions, Sales
increase through effective marketing campaigns
6.Enhance Customer Satisfaction–
7.Enter New Markets –
8.Improve Brand Loyalty –engagement programs, consistent quality
9.Gain Market Share -Strategies to increase market share
10.Enhance Digital Presence -Brands with notable digital
transformation
11.Foster Innovation -Benefits of innovative marketing
12.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.

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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 acivitiesinvolved 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
i.It encourages large-scale production
ii.It increase the Mobility of Factors of production
iii.It encourages specialization and Division of labour
iv.It helps in stabilizing price
v.It provides employment opportunities

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

15. Dept. of B.Com. BPS -Marketing Management
Classification of Transport
I Land
i.Pathway
ii.Road
iii.Railway
iv.Others
IIWater
i.Inland (i) River (ii) Canal
ii.Ocean (i) Coastal (ii) Overseas
IIIAir
i.International
ii.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
i.Seasonal Production, But Uniform
consumption
ii.Uniform production, but seasonal
consumption
iii.Protection of goods
iv.To maintain balance between demand and
supply
v.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 godownis 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
Duddyand Tevzandefine, “Standardisationis the
process of determining of classes or grades of a
product or service that have fixed limits”.
International Organization defines,
“Standardisationis 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 Standardisationand Grading
1.Simplified sales
2.Reduced Marketing cost
3.Future sales facilitated
4.Simplifies financing
5.Satisfaction of the consumers
6.Wider market
7.Low transport cost
8.Buyer’s satisfaction
9.Consumers pay right price
10.Easy realization of claims
11.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 athird partyguarantee 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)
BISistheNationalStandardBodyofIndia
establishedundertheBISAct2016forthe
harmoniousdevelopmentoftheactivitiesof
standardization,markingandqualitycertificationof
goodsandformattersconnectedtherewithor
incidentalthereto.BIShasbeenprovidingtraceability
andtangibilitybenefitstothenationaleconomyina
numberofways–providingsafereliablequality
goods;minimizinghealthhazardstoconsumers;
promotingexportsandimportssubstitute;control
overproliferationofvarietiesetc.through
standardization,certificationandtesting..

25. Dept. of B.Com. BPS -Marketing Management
Business Finance
Financemaybedefinedastheprovisionof
money.Financeisthestudyofmethodstoobtain
moneyandcredit.Financingistheactofproviding
moneyandcredit.Ownershipcapitalislimited.
Thefinanceneededtorunabusinessasawhole
isknownasBusinessFinanceandthefinanceneeded
tomarkettheproductsisknownasMarketing
Finance.