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Marketing Management[1]

Marketing Management[1]

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Published by jagadishprasad

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Published by: jagadishprasad on Aug 11, 2009
Copyright:Attribution Non-commercial


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MARKETING MANAGEMENTBY PHILIPKOTLER ANALYZED BY JAGADISH Defining marketing in the 21st century (chapter 1 )Q) How is marketing important ?in todays 21st century marketing is becoming the backbone of companies. even thoughwe see financial officers becoming ceos this trend can change in near future. for thesimple reason being without cmo or marketing wing the company cannot run.one may argue that cfo help in making financial decisions and allotment of money isimportant for a company. but one has to see that even after financial allocation cfo stillsdepends upon revenue generation. this means he has to go back to marketing wing togenerate revenue . without marketing wing financial wing cannot survive. but withoutfinancial wing marketing can survive.Q) what is the scope of marketing ?The state of the environment in which a situation exists copied from wordwebi define scope as jurisdiction beyond which marketing is not tied up. what can be thescope of marketing jagadish says their are 2 things beyond which the scope of marketing ends. one isfinancial monetary aspect the other is non monetary or case analysis of marketing problems.Q) what are some fundamental marketing concepts ?some fundamental concepts coined by jagadish concepts arespiritual marketing concept : under this concept companies help each other indeveloping strategies for each other and try to cooperate in developing competition andcooperation in their respective industriesthe basis of foundation of this concept would be on 3 layers1 trust2 perfect relationship management3 participative marketing management
  perfect relationship management : it can be defined as something when 2 or more partiescome together and think for on behalf of their companies and come out with better solutions either through collaboration or through cooperationcollaboration : this is defined as 2 or more companies considered competitors in themarket, come together to solve industry problems perfect relationship management : a relationship where companies 2 or more join handstogether for a common causetrust : it is something which binds people together without arousing resentment whileworking with each other  participative marketing concept : it is a conceptual tool to determine the complementors,competitors for the company and help company to provide solutions to the existing problems in the industry it represents job entry : any entry made by the employee on the job that she has been enrolled while joining at the first date in the company job enhancement : any job which is done by an employee which enhances the reputationof the employee and the company is job enhancement job rotation ; any job which an employee does on rotational basis by taking up differenttasks in the company is job rotation job enlargement : any job taken up by the employee of a company which is done inaddition to the job he has been assigned to is job enlargement job work: any job taken by the company employee is job work  brand : it is defined as something which personifies the personality of the product of thecompany it represents product : anything which highlights the companies inner strength is called as productmarketing : meeting needs profitablyneeds : anything which satisfies the normal desires of a person is called as needswant : anything which satisfies the entire portion of desires either fully or partially whichcan also be future desires of a person is called as want
  private label : any product designed by the retail industry segment not in tie up with thecompanies is called as a private labelQ) how has marketing management changed ?It can be seen that retail segment has come up with private labels in competition withcompany productsmarketing management has become a commonsense approach. it is throughcommonsense that problems are being solved through case studies. if you take intoconsideration premier management schools case study analysis commonsense has become the sole moto in solving current and future problems on the basis of secondarydata.Q) what are the tasks necessary for successful marketing management ?in to days scenario trust , commitment and truth have become the foundation on whichnecessary marketing management principles are based upon.end of chapter oneDeveloping marketing strategies and plans (chapter 2)Retention strategies for 21st centuryIn the 21st century two areas in India Bpo and Software has come into existence andthrough which Indians are becoming a popular destination for work and fun.A very hottopic that is being discussed since a long time that their is a lot of retrenchment taking place in these two areas of job. HR executives are having a tough time to stop thisretrenchment but due to various reasons this problem is not able to solve and every one islooking for ways to stop this . it is even seen in developed nations also. Now discussion and solution for this by jagadish is as follows:1 USA is preferred destination for many young executives for learning curve . the problem with this is that they employees after learning leave the job and take up another  job in USA.solution is that company should sign a bond with the trainee to come back and pursue hiscareer in the company as per the HR rules . I would say another 5 years after learningwhich gives the company scope to use the learning for its benefit and the employee alsofeels satisfied that their is a possibility for looking at greener pastures after completing

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