Marketing Management

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Marketing Management Internal Assignment No.1 Paper Code : BBA-203 Paper Title : Marketing Management Q.1.1 What do you understand by Marketing ? A.1.1 Marketing is the process of communicating the value of a product or service to customers. Marketing might sometimes be interpreted as the art of selling products, but selling is only a small fraction of marketing. As the term "Marketing" may replace "Advertising" it is the overall strategy and function of promoting a product or service to the customer. ***************************************************************************** ***************************************************************************** ************************************* Q.1.2 What are the components of marketing mix ? Q.1.2 1. Product. The Product area is concerned with developing the right "product" for the target market. This offering may involve a physical good, a service, or a blend of both. Keep in mind that Product is not limited to "physical good". 2. Place.Place is concerned with all the decisions involved in getting the "right" product to the target market's Place. A product isn't much good to a customer if it isn't available when and where it's wanted. A product reaches customers through a channel of distribution. (A channel of  distribution is any series of firms - or individuals - from producer to final user or consumer.) 3. Promotion.The third P - is concerned with telling the target market about the ""right" right" product. Promotion includes personal selling, mass selling, and sales promotion. It is the marketing manager's job to blend these methods.

This website stores data such as cookies to enable essential site 4.as Price. In marketing, addition to developing the right Product, Place, and Promotion, marketing managers functionality, well as mustand alsoanalytics. decide the kind ind of competition in personalization, Youright Price. In setting a price, they must consider the k the target market - and may change your settings at any timethe cost of the whole marketing mix. They must also try to estimate customer reaction to possible prices. or accept the default settings.

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************************************* Marketing Personalization Q.1.3 Construct product life cycle ? Analytics

A.1.3 Introduction Save

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This is the stage of low growth rate of sales as the product is newly launched in the market. Monopoly can be created, depending upon the efficiency and need of the product to the customers. A firm usually incurs losses rather than profit. If the product is in the new product class, the users may not be aware aw are of its true potential. In order to achieve that place in the market, extra information about the product should be transferred to consumers through various media.The stage has the following characteristics: 1. Low competition 2. Firm mostly incurs losses and not profit. [edit]Growth Growth comes with the acceptance of o f the innovation in the market an and d profit starts to flow. As the monopoly still exists companies can experiment with new ne w ideas and innovation in order to maintain the sales growth. This stage is the best time to introduce new effective products in the market thus creating an image in the product class in the presence of its competitors who try to copy or improve the product and present it as a substitute. [edit]Maturity In this, the end stage of the growth rate, sales slowdown as the product has already achieved acceptance in the market. New firms start experimenting in order to compete by innovating new models of the product. With many companies co mpanies in the market, competition for customers becomes fierce, despite the increase in growth rate of sales at the initial part of this stage. Aggressive competition in the market results in profits decreasing at the end of the growth stage thus  beginning the maturity stage. In addition to this, the maturity stage of the development process is the most vital. [edit]Decline This is the stage where most of the product class usually dies due to low g growth rowth rate in sales. A number of companies share the same market, making it difficult for all entrants to maintain sustainable sales levels. Not only is the efficiency of the company an important factor in the decline, but also the product category itself becomes a factor, as the market may perceive the  product as "old" and may not be in demand. It is not always necessary that a product should go This website stores data as it depends on the type of product, its competitors, scope of the product etc through thesesuch stages.

cookies to enable essential site functionality, as well as marketing, ***************************************************************************** personalization, and analytics. You ***************************************************************************** may change your settings at any time ************************************* or accept the default settings.

Q.1.4 What do you mean by direct marketing ?

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A.1.4 Direct marketing is a channel-agnostic form of o f advertising that allows businesses and nonprofits organizations to communicate straight to the customer, with advertising techniques Personalization that can include Cell Phone Phon e Text messaging, email, interactive consumer websites, online display Marketing

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ads, fliers,by catalog distribution, promotional letters, and outdoor marketing  practiced businesses of all sizes — from the smallest smallest start-up advertising.Direct to the leaders on the Fortune is

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500. A well-executed direct advertising campaign can prove a positive return on investment by showing how many potential customers responded to a clear call-to-action. General advertising eschews calls-for-action in favor of messages that try to build prospects’ emotional awareness or  engagement with a brand. Even well-designed general advertisements rarely can prove their  impact on the organization’s bottom line. ***************************************************************************** ***************************************************************************** ************************************* Q.1.5 Define rural marketing in india ? A.1.5 Rural Marketing is defined as any an y marketing activity in which one dominant participant is from a rural area. This implies that rural marketing consists of marketing of inputs (products or  services) to the rural as well as marketing of outputs from the rural markets to other geographical areas. ***************************************************************************** ***************************************************************************** ************************************* Q.2. What do ytou mean by marketing environment ? Explain the various characteristics of  Indian Marketing Environment ? A.2. The marketing environment, or market environment, is a marketing term that refers to all of  the forces outside of marketing that affect marketing management’s manage ment’s ability to build and maintain successful relationships with target customers. The market environment consists of both the macroenvironment and the microenvironment. The microenvironment refers to the forces that are close to the company and affect its ability to serve its customers. It includes the company itself, its suppliers, marketing intermediaries, customer markets, competitors, and publics. This website stores data such as of microenvironment refers to the internal environment of the company. The company aspect cookies to enable essential site This includes all departments, such as management, finance, research and development, functionality, as well as marketing,  purchasing, operations personalization, and analytics. You and accounting. Each of these departments has an impact on marketing decisions. Foratexample, may change your settings any time research and development have input as to the features a product can  perform accounting approves the financial side of marketing plans and budgets. or accept the default and settings.

The suppliers of a company are also an impQ.3.ortant aspect of the microenvironment because becau se

Privacy Policy even the slightest delay in receiving supplies can result in customer dissatisfaction. Marketing

managers must watch supply availability and other trends dealing with suppliers to ensure that Marketing  product will be delivered to customers in the time frame required in order to maintain maintain a strong

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***************************************************************************** ***************************************************************************** ************************************* Q.3. What do you understand by product development ?Explain the process of new product development? A.3. In business and engineering, new product development (NPD) is the complete process of   bringing a new product to market. A product is a set of benefits offered for exchange and can be tangible (that is, something physical you can touch) or intangible (like a service, experience, or   belief). There are two parallel paths involved in the NPD process: one involves the idea generation, product design and detail engineering; the other involves market research and marketing analysis. Companies typically see new product development as the first stage in generating and commercializing new product within the overall strategic process of product life cycle management used to maintain or grow their market share.  New Product Development Process –   New Product Development starts with idea generation A company has to generate many ideas in order to find one that is worth pursuing. The Major  sources of new product ideas include internal sources, customers, competitors, distributors and suppliers. Almost 55% of all new product ideas come co me from internal sources according to one study. Companies like 3M and Toyota have put in special incentive programs or their employees to come up with workable ideas. Almost 28% of new product ideas come from watching and listening to customers. Customers: even create new products on their own, and companies can benefit by finding these products and  putting them on the market like Pillsbury gets promising new products from its its annual Bake-off. One of Pillsbury’s four cake mix lines and several variations of another came directly from Bake-Off winners’ recipes. About 30% of new product ideas come from analysis of competitors’ products. The company can

This website stores data such as watch competitors’ ads, press releases and write-ups in the press about their activities. cookies to enable essential site Companies also buy competitors information and pay for industrial espionage. functionality, as well as marketing, personalization, and analytics. You Resellers and at others who are close to the market, can often pass on information about new may change your settings any time developments. Other sources are trade magazines, shows and seminars, market research firms, or accept the default settings.

government reports, advertising agencies and new product consultants. Privacy Policy Idea Screening: -The purpose of idea generation is to create a large pool of ideas. The purpose of 

this stage is to pare these down to those that are genuinely worth pursuing. Companies have Marketing

different methods for doing this from product review committees to formal market research. It, is

Personalization helpful at this stage to have a checklist that can be used to rate each idea based on the factors Analytics

required for successfully launching the how product theidea marketplace andcompany’s their relative importance. Against these, management can assess we llinthe well fits with the marketing

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skills and experience and other capabilities. Finally, the management can obtain an overall rating of the company’s ability to launch the product successfully. Concept Development and Testing – An attractive idea has to be developed into a Product concept. As opposed to a product idea that is an idea for a product that the company can see itself  marketing to customers, a product concept is a detailed version of the idea stated in meaningful consumer terms. This isordifferent again fromOnce a product image, which is the consumers’  perception of an actual potential product. the concepts are developed, these need to be tested with con- sumers either symbolically or physically. For some concept con cept tests, a word or a  picture may be suffi- cient, however, a physical presentation will increase the reliability reliability of the concept test. After being exposed to the concept, consumers are asked to respond to it by answering a set of questions de- signed to help the company decide which concept has the strongest appeal. The company can then project these findings to the full market to estimate sales volume. Marketing Strategy Development – This is the next step in new product development. The strategy statement consists of three parts: the first part describes the target market, the planned  product positioning and the sales, market share and profit goals for the first few few years. The second part outlines the product’s planned price, distribution, and marketing budget for the first year. The third part of the marketing strategy statement describes the planned long-run sales,  profit goals, and the marketing mix strategy. Business Analysis – Once the management has decided on the marketing strategy, it can evaluate the attractiveness of the business proposal. Business analysis involves the review of o f projected sales, costs and profits to find out whether they satisfy a company’s objectives. If they do, the  product can move to the product development stage. Product Development – Here, R&D or engineering develops the product concept into a physical  product. This step calls for a large investment. It will show show whether the product idea can be developed into a full- fledged workable product. First, R&D will develop prototypes that will satisfy and excite customers and that can be produced quickly and at budgeted costs. When the  prototypes are ready, they must be tested. Functional tests are then conducted under laboratory and field conditions to ascertain whether the product performs safely and effectively.

This website stores data such as cookies to enable essential site Test Marketing - If the product passes the functional tests, the next step is test marketing: the functionality, as well as marketing, stageand at which theYou product and the marketing program are introduced to a more realistic market personalization, analytics. settings. Test at marketing may change your settings any time gives the marketer an opportunity to tweak the marketing mix before the going into the expense of a product launch. The amount of test marketing varies with the type of  or accept the default settings.

 product. Costs of test marketing can be enormous and it can also allow competitors to launch a “me- too” product or even sabotage the testing so that the marketer ge gets ts skewed results. Hence, Privacy Policy at times, management may decide to do away with this stage and proceed straight to the next one: Marketing Personalization If the company goes ahead with commercialization – introducing the product to the market-it Analytics

will face costs for and advertising ad vertising promotion. Theregional, companynational will have decide onhigh the timing of manufacturing the launch (seasonality) and theand location (whether or to

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international). This depends a lot on the ability of the company to bear risk and the reach of its distribution network. ***************************************************************************** ***************************************************************************** ********************************* Q.5. Describe the various features of marketing in 21st century in india ? A.5. The Basic Elements Of Marketing The marketing process can be thought of as a structure built on layers of successively complex effort. Figure 2 shows how these elements build on each other. A proper marketing effort should be built on: ! Market Research and Intelligence ! A validated Value Proposition ! A detailed Marketing Plan ! On-going measurement of Customer Satisfaction ! On-going measurement of ROA Market Research/Market Intelligence Market Research is the foundation of marketing and an d consists of a This website stores data such as constant flow of information from the market. This information cookies to enable essential site functionality, as well as marketing, should customer needs, market trends, competitive c ompetitive actions, personalization, andinclude analytics. You may change your settings at any time or accept the default settings. and market demand. Sources of Market Research are customers,

trade associations, government agencies, suppliers and consultants. co nsultants.

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Market Intelligence is the analysis of Market Research and the Marketing Personalization

dissemination of this analysis throughout the business. Market

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Intelligence makes the information dynamic, actionable and

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consumable by the organization. M a rk e t R e se a rc h a n d In te llig e n c e V a lu e P ro p o s itio n M a rk e tin g P la n & M a rk e tin g M ix C u s to m e r  S a tisfa c tio n ROA In c re a s in g D iffic u lty Figure 2 – The Marketing Pyramid Copyright 2001 The ChemQuest Group, Inc. All Rights Reserved 7 Value Proposition The Value Proposition is the next “layer” of Marketing. The Value Proposition is the keystone of the Marketing Plan and is a written statement of facts, assumptions and perceptions that suggest the reasons why a buyer will buy a set of differentiating features that

This website stores data such as cookies to enable essential site compromise a seller’s offering. The Value Proposition is derived functionality, as well as marketing, personalization, and analytics. You may change yourthe settings at any time from marketer’s knowledge of the market, (particularly customer  or accept the default settings.

needs) combined with the marketer’s product features and how these Privacy Policy

features will meet the customer’s needs better than the incumbent incu mbent or 

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other alternative product.

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Marketing Plan and Marketing Mix

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The Marketing Plan is the working document of the marketer. A well-developed Marketing Plan is developed directly from, and consistent with, the Value Proposition. Classic marketing theory  breaks the Marketing Plan into four areas, the so-called “4 P’s”: ! Product Plan – A detailed plan of the product attributes, how these attributes meet customer needs, and how the product is differentiated from competition. This plan also includes details on how the product is designed, manufactured and managed. It should also address how the product co-exists c o-exists in the market with other products and services of the business. ! Pricing Plan – A plan of pricing strategy including what the price will be for the product (the so-called “price “ price list”), a profit analysis of the product, and how pricing will be managed within the various distribution channels. The Pricing Plan should address product positioning versus other competitive products and how the price will be tactically managed in competitive and  bid situations. This website stores data such as cookies to enable essential site ! Placement (Distribution) Plan – A plan describing the ways the functionality, as well as marketing, personalization, and analytics. You may change your settings at anyto time  product is brought the marketplace – often referred to as or accept the default settings. distribution channels. This plan describes how the product will Privacy Policy

 be sold (direct salesmen or through independent distributors),

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how and where the product will be inventoried and how the

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 product will co-exist with other not-in-kind products in the value

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chain. Copyright Copyright 2001 The ChemQuest Group, Group, Inc. All Rights Reserved 8 ! Promotion Plan – A plan that addresses the ways in which the  product will be promoted in the market. Typical elements of this  plan are advertising, branding, support and collateral materials (brochures, data sheets, etc) and public pub lic relations. The Marketing Plan can be thought of as the “operating manual” for  the marketing process. Ideally, the Marketing Plan is directly linked to, and a part of, a larger corporate business plan. Customer Satisfaction Measurement Measuring Customer Satisfaction is important in determining if the Marketing Plan is successful in the marketplace. It is the “outward” metric. Customer Satisfaction measurement should determine how well the product and its company meets (and exceeds!) the customer  needs – particularly versus competition. Customer Satisfaction should This website storesalso datameasure such as how the customer views the value of the cookies to enable essential site  product, how effectively distribution channels are operating and how functionality, as well as marketing, personalization, and analytics. You may change your settingsactivities at any time  promotional are improving awareness and customer loyalty or accept the default settings. for the product. Typical methods for measuring customer  Privacy Policy

satisfaction involve personal interviews and surveys of existing,

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 potential and former customers. Personalization Analytics

ROA Measurement

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As discussed earlier, the goal of marketing is to improve shareholder  value and ROA is a proxy metric for measuring and monitoring shareholder value. ROA must exceed the cost of the business’s capital in order to bring shareholders value. Maximum business  performance occurs when ROA increasingly exceeds the cost of  capital with time. Unfortunately, in most companies ROA is difficult to measure on a  product-specific basis. Marketers should work closely with controllers to build a product-specific income statement so that ROA can be measured and monitored. ***************************************************************************** ***************************************************************************** *********************************** Internal Assignment No.2 Paper Code : BBA-203 Paper Title : Marketing Management Q.1.1.What is the importance of Marketing ? A.1.1 todata attempt This website stores suchto asdefine, ccommunicate, control and add value to what corporations offer to customers, businesses and governments who acquire services and goods. cookies to enable essential site functionality, as well as marketing, personalization, and analytics. You A marketing mix is the use of various different media to reach a target audience. A market mix is may change your settings at any time variety of product available at market. or accept the default settings. ***************************************************************************** ***************************************************************************** Privacy Policy *********************************** Marketing

Q.1.2. Explain the process of marketing ? Personalization Analytics

A.1.2 Marketing process: Under the marketing concept, con cept, the firm must find a way to discover  unfulfilled customer needs and bring to market products p roducts that satisfy those needs. The process of 

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doing so can be modeled in a sequence of steps: the situation is analyzed to identify opportunities, the strategy is formulated for a value proposition, tactical decisions are made, the  plan is implemented and the results are monitored. ***************************************************************************** ***************************************************************************** *********************************** Q.1.3. What do you mean by segmentation ? A.1.3. Segmentation is essentially the identification of subsets of buyers bu yers within a market that share similar needs and demonstrate similar buyer behavior. The world is made up of billions of   buyers with their own sets of needs and behavior. Segmentation aims to match groups of   purchasers with the same set of needs and buyer behavior. Such a group is known as a 'segment '. ***************************************************************************** ***************************************************************************** *********************************** Q.1.4. Explain the importance of public realtion ? A.1.4. Public relations is effective in helping: * Corporations convey information about their products or services to potential customers * Corporations reach local government and legislators * Politicians attract votes and raise money, and an d craft their public image and legacy * Non-profit organizations, including schools, hospitals, social service agencies etc. boost support of their programs such as awareness programs, fund-raising programs, and to increase  patronage of their services This website stores data such as ***************************************************************************** cookies to enable essential site ***************************************************************************** functionality, as well as marketing, personalization, and analytics. You *********************************** may change your settings at any time or accept the default settings. Q.1.5. Define the need of service marketing ?

A.1.5. Services marketing is a form of marketing that focuses on selling services. They can be Privacy Policy

tricky to sell, and the marketing approach for them is much different than the approach for  Marketing  products. Some companies offer both products and services and must use a mixture of styles; for  example, a store that sells computers also tends to also help people select computers and provide Personalization computer repair. Such a store must market both its products and the supporting services it offers Analytics

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***************************************************************************** ***************************************************************************** *********************************** Q.2.. Describe the various factors of marketing environment ? A.2. Various Environmental factors Affecting Marketing Function. July 19, 2012 Various factors affecting marketing function. The environmental factors that are affecting marketing function can be classified into : 1) Internal environment and 2) External environment Internal Environment of Marketing : This refers to factors exsisting within a marketing firm. They are also called as controllable factors, because the company has control over these factors : a) it can alter or modify factors as its personnel, physical facilities, organization and function means, such as marketing mix, to suit the environment. There are many internal factors that infulence the marketing function, they are : Top Management : The organizational structure, Board of Director, professionalization of  management..etc..Factors like the amount of support the top management enjoys from different levels of employees, shareholders and Board of Directors have important infulence on the marketing decisions and their implementation. This website stores data such as Finance and Accounting: Accounting refers to measure of revenue and costs to help the cookies to enable essential site functionality, as well as and marketing, marketing to know how well it is achieving its objectives.Finance refers to funding and using personalization, analytics. fundsand to carry out You the marketing plan. Financial factors are financial polices, financial position may change your settings at any and capital structure.time or accept the default settings.

Research and Development : Research and Development refers to designing the product safe and attractive. They are technological capabilities, determine a company ability to innovate and Privacy Policy compete. Marketing

Manufacturing : It is responsible for producing the desired quality and an d quantity of  Personalization

 products.Factors which infulence the competitiveness of a firm are production capacity

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technology andefficiency of the productive apparatus, distribution logistics etc., Save

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Purchasing : Purchasing refers to procurement of goods goo ds and services from some external agencies. It is the strategic activity of the business. Company Image and Brand Equity : The image of the company refers in raising finance, forming  joint ventures or other alliancessoliciting alliancessoliciting marketing intermediaries, enteing purchase or sales contract, launching new products etc. In organization, the marketing resources like organization for marketin, quality of marketing,  brand equity and dirtribution network have direct bearing on marketing efficiency. They are important for new product introduction and brand extension, etc.. External Environment of Marketing. External factors are beyond the control of a firm, its suceess depends to a large extent on its adaptability to the environment. The external marketing environment consists of : a) Macro environment, and  b) Micro environment a) Micro environment: The environmental factors that are in its proximity. The factors influence the company’s non-capacity to produce and serve the market.The factors are : 1) Suppliers: The suppliers to a firm can also alter its competitive position and marketing capabilities. These are raw material suppliers, energy suppliers, suppliers of labor and capital.According to michael Porter, the relationship between suppliers and the firm epitomizes a  power equation between them. This equation is based on the industry condition and the extent to which each of them is dependent on the other. The bargaining power of the supplier gets maximized in the following situations: This website stores data such as a) Theessential seller firm cookies to enable siteis a maonopoly or an oligopoly firm. functionality, as well as marketing, personalization, andsupplier analytics.  b) The is You not obliged to contend with othe substitute products for sale to the buyer  may change your settings at any time group. or accept the default settings.

c) The buyer is not an important customer. Privacy Policy

d) The suppliers’s product is an important input to the buyer’s business and finished product.

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e) The supplier poses a real threat of forward integration. Personalization Analytics

2) Market Intermediaries : Every producer has to have hav e a number of intermediaries for promoting, selling and distributing the goods and service to ultimate consumers. These intermediaries may

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 be individual or business firms. These intermediaries are middleman middleman (wholesalers, retailers, sgent’s etc. ), ditributing agency market service agencies and financial institutions. 3) Customers : The customers may be classified as : 1) Ultimate customers: These customers may be individual and householders. 2) Industrial customers: These customers are organization which buy goods good s and services for   producing other goods and services for the purpose of other earning profits or fulfilling fulfilling other  objectives. 3) Resellers: They are the intermediaries who purchase goods go ods with a view to resell them at aprofit. They can be wholesalers, retailers, distributors, etc. 4) Government and other non-profit customers: These customers purchase goods and services to those for whom they are produced, produced , for their consumption in most of the cases. 5) International customers: These customers are individual and organizations of other countries who buy goods and services either for consumption or for industrial use. Such buyers may be consumers, producers, resellers, and governments. 6 )Competitors: Competitors are those who sell the goods and services of the same and similar  description, in the same market. Apart from competition on price, there are like product differentiation. Therefore, it is necessary to build an efficient system of marketing. This will  bring confidence and better results. 7) Public: It is duty of the company compan y to satisfy the people at large along with its competitors and the consumers. It is necessary for future growth.The action of the company do infulence the other groups forming the general public for the company. A public is defined as ‘any group that has an actual or potential interest in or impact on a company’s ability to achieve its objective.’ Public relations are certainly a broad marketing operation o peration which must be fully taken care of. Macro This website storesEnvironment: data such as cookies to enable essential site functionality, as wellenvironment as marketing,factors act external to the company and are quite uncontrollable. These Macro personalization, anddo analytics. Youthe marketing ability of the concern directly but indirectly the infulence factors not affect may change your settings at any marketing decisionstime of the company. or accept the default settings. These are the macro environmental factors that affect the company’s marketing decisions : Privacy Policy

a) Demographic Forces: Here, the marketer monitor the population because people forms

Marketing markets. Marketers are keenly interested in the size and growth rate of population in different

cities, regions, and nations ; age distribution and ethnic mix ; educational levels; households Personalization  patterns; and regional characteristics and movements.

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 b)Economic Factors: The economic environment consists of macro-level factors related to means of production and distribution that have an impact on the business of an organization. c) Physical Forces: Components of physical forces are earth’s natural renewal and non-renewal resources. Natural renewal forces are forest, food products from agriculture or sea etc. Nonrenewal natural resources are finite such as oil, coal, co al, minerals, etc. Both of these components quite often change the level and type of resources available to a marketer for his production. d) Technological Factors: The technological environment consits of factors related to knowledge applied, and the materials and machines used in the production of goods and services that have an impact on the business b usiness of an organization. e) Political and Legal Forces: Developments in political and legal field greatly affect the marketing decisions. sound marketing decision cannot be taken without taking into account, the government agencie, political party in power and in opposition their ideologies, pressire groupss, and laws of the land. These variables create tremendous pressures on marketing management. Laws affect production capactiy, capability, product design, pricing and promotion. Government in almost all the country intervenes in marketing process irrespective of their political ideologies. f) Social and Cultural Forces: This concept has crept into marketing literature as an alternative to the marketing concept. The social forces attempt to make the marketing socially responsible. It means that the business firms should take a lead in eliminating socially harmful products and  produce only what is beneficial to the soceity. These are numbers of pressure groups in the soceity who impose restrictions on the marketing process. ***************************************************************************** ***************************************************************************** *********************************** Q.3. Explain product life cycle and a nd its different stages ? A.3. This website stores data such as ***************************************************************************** cookies to enable essential site functionality, as well as marketing, ***************************************************************************** personalization, and analytics. You *********************************** may change your settings at any time or accept the default settings.

Q.5. What do you mean by sales promotion ? Describe various sales promotion techniques ?

A.5. Sales promotion is one of the seven aspects of the promotional mix. (The other six parts of  Privacy Policy

the promotional mix are advertising, personal selling, direct marketing, publicity/public p ublicity/public relations,

Marketing corporate image and exhibitions.) Media and non-media marketing communication are employed

for a pre-determined, limited time to increase consumer demand, stimulate market demand or  Personalization

improve product availability. Examples include contests, coupons, freebies, loss leaders, point of 

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 purchase displays, premiums, prizes, product samples, and rebates Save

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Steps in Sales Promotion To increase the sale of the product is to introduce a promotional mix with the following mix. 1. Advertising 2. Personal Selling 3. Direct Marketing 4. Publicity All are mainly aimed at consumer promotion which is aimed at the consumers. Consumer Sales Promotion Techniques 1. Cents - off -deal - : The brand will be offered at a lower price. Price reduction percentage will  be offered at a lower price. Price reduction percentage will be marked on the package. 2. FSI - : Free standing Insert - : A coupon or booklet inserted into the local newspaper delivery. 3. Money back rebates - : Consumers are offered a part as money back if the receipt and barcode are mailed to the producer. 4. Buy - One - get - One - Free ( BOGOF) It is a self liquidating promotion.This is a premium sales promotion tactic. This is a programme where there will be profit if there is corresponding increase in sales. This website data such 5.stores New Media - : as This is where websites and mobile phones surrport sales promotion. For  cookies to enable essential site example individual codes on the packet helping the consumer to enter the code into their website functionality, well marketing, toas see if as they had won a prize or not. personalization, and analytics. You may change your settings at any time 6. Direct Marketing - : Products are sold through telemarketing and internet marketing. or accept the default settings.

7. Advertisement - : Advertisements are used to build long term image for the product. The main form of advertisement will be news papers, television ads, banners b anners and web pages. Privacy Policy Marketing

8. Sales Force Meeting - : The sales meetings will be conducted periodically to analyze the sales and to find out innovative techniques to increase the sales. Personalization Analytics

9. Personal Selling - : The products produ cts can be effectively increase the sales through personal sellings. Because personal selling gets personal confrontation and immediate response.

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10. Exhibitions - : The exhibitions will be conducted in factory outlets and at major cities. 11. Point of Sales Displays - : The products will be displyed as follows to increase the sales. a. Dangles - : A sign that ways when a consumer walks b by y it.  b. Dump bin - : A bin full of products dumped in a bin. c. Glorifies - : A small stage that elevates the products above other products. d. Wobbler - : A sign of the product that jiggles. e. Yes Unit - : An extra sales person pull out fact sheet. f. Competitions - : The consumer who buys the product will get coupon to participate in competition to win. 12. Publicity - :This very important in sales. The product will be developed through commercially significant news.Press release and radio presentation will also be conducted to increase the sales. 13. Export Promotion - : The promotion will be by participating in export promotional conferences and exhibitions and trade fares nationally and internationally. ***************************************************************************** ***************************************************************************** ***********************************

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