MEDIA OF ADVRTMENT
Green marketing products that are presumed to be environmentally safe.
Advertising media selection is the process of choosing the most
efficient media for an advertising campaign. To evaluate media efficiency,
planners consider a range of factors including: the required coverage and
number of exposures in a target audience; the relative cost of the media
advertising and the media environment. Media planning may also involve
buying media space. Media planners require an intricate understanding of the
strengths and weaknesses of each of the main media options. The media
industry is dynamic - new advertising media options are constantly emerging.
Digital and social media are changing the way that consumers use media and
are also influencing how consumers acquire product information
Television advertising, Radio advertising, Print publications advertising,
Internet advertising, Out-of-home media, Mobile device advertising.
A firm which has to spend money, takes a proper care in planning
expenditure on advertising. It can be define as “A medium which are
most effective for inducing the people to purchase its good or
services is known as advertising media”. In advertising, media are
the facilitating functions and constitute an industry. Media are the
carriers of message of an advertiser whose aim is to reach to the
public so that he and his product or service may come to the
knowledge of the public and in turn public may turn to him and his
product or service. It is one of the most important and popular
media. The word Press is a collective word meaning different types
of newspapers and periodicals and particularly the newspapers.
Daily newspapers and weeklies have largest circulations and so are
the best media for advertising for consumer goods. But all
newspapers are not of equal standard or value
PRODUCT MIX
The Product Mix also called as Product Assortment,refers to the
complete range of products that is offered for sale by the
company. In other words, the number of product lines that a
company has for its customers is called as product mix. The
Product Line refers to the list of all the related products
manufactured or marketed by a single firm. The number of
products within the product line are called as the items, and
these might be similar in terms of technology used, channel
employed, customer’s needs and preferences or any other
aspect. For example, the product lines of ITC are FMCG,
Hotels, Paper Board and Packaging, Agribusiness. The
product mix has four dimensions: Breadth, Length, Depth,
and Consistency. The Breadth of a product mix shows the
different kinds of product lines that firm carries. Simply, it
shows the number of items in the product line. This
dimension of the product mix represents the extent to which
the activities of the firm are diversified. In the example
below, there are 4 product lines that show the width of the
ITC. the Length of a Product mix refers to the number of items
in the product mix.the Depth of a product mix refers to the
variants of each product in the product line. The Consistency of
a product mix shows the extent to which the product lines are
closely related to each other in terms of their end-use,
distribution requirements, production requirements, price
ranges, advertising media, etc. In the above example, it is
clear that ITC’s product lines are less consistent as these
perform different functions for the buyers
Example :- Coca-Cola has product brands like Minute Maid, Sprite,
Fanta, Thumbs up, etc. under its name. These constitute the width of the
product mix. There are a total of 3500 products handled by the Coca-Cola
brand. These constitute the length. Minute Maid juice has different
variants like apple juice, mixed fruit, etc. They constitute the depth of the
product line ‘Minute Maid’. Coca-Cola deals majorly with drinking
beverage products and hence has more product mix consistency.
Product Mix depends on many factors like : Company Age, Financial Standing,,
area of operation , brand identity
Product mix consists of various product lines that an organisation offers, an
organisation may have just one product line in its product mix and it may also
have multiple product lines. These product lines may be fairly similar or totally
different, for example - Dish washing detergent liquid and Powder are two
similar product lines, both are used for cleaning and based on same
technology; whereas Deodorantsand Laundry are totally different product
lines.
GREEN MARKETING
It incorporates a broad range of activities, including product
modification, changes to the production process, sustainable packaging,
as well as modifying advertising. Yet defining green marketing is not a
simple task where several meanings intersect and contradict each other;
an example of this will be the existence of varying social, environmental
and retail definitions attached to this term. Other similar terms used
are environmental marketing and ecological marketing. Green,
environmental and eco-marketing are part of the new marketing
approaches which do not just refocus, adjust or enhance existing
marketing thinking and practice, but seek to challenge those approaches
and provide a substantially different perspective. In more detail green,
environmental and eco-marketing belong to the group of approaches
which seek to address the lack of fit between marketing as it is currently
practiced and the ecological and social realities of the wider marketing
environmentThe term Green Marketing came into prominence in the late
1980s and early 1990s.[3] The proceedings of this workshop resulted in
one of the first books on green marketing entitled "Ecological
Marketing"The emerging greenhouse gas reduction market can
potentially catalyze projects with important local environmental,
economic, and quality-of-life benefits. The Kyoto Protocol’s Clean
Development Mechanism
PROMOTION MIX
 In marketing, the promotional mix describes a blend of promotional
variables chosen by marketers to help a firm reach its goals.[1][2][3][4][5] It
has been identified as a subset of the marketing mix.[1] It is believed that
there is an optimal way of allocating budgets for the different elements
within the promotional mix to achieve best marketing results, and the
challenge for marketers is to find the right mix of them. The Promotion
Mix refers to the blend of several promotional tools used by the
business to create, maintain and increase the demand for goods
and services. he fourth element of the 4 P’s of Marketing Mix is
the promotion; that focuses on creating the awareness and
persuading the customers to initiate the purchase. The several
tools that facilitate the promotion objective of a firm are
collectively known as the Promotion Mix. The Promotion Mix is
the integration of Advertising, Personal Selling, Sales Promotion,
Public Relations and Direct Marketing. The marketers need to
view the following questions in order to have a balanced blend
of these promotional tools. 1.What is the most effective way to
inform the customers? 2. Which marketing methods to be
used? 3. To whom the promotion efforts be directed? 4.What is
the marketing budget? How is it to be allocated to the
promotional tools? Element – Advertising, Personal Selling,
Sales Promotion, Public Relations, Direct Marketing,
MARKETING INFORMATION YTEM
A marketing information system (MKIS) is a management information
system (MIS) designed to support marketing decision making. Jobber
(2007) defines it as a "system in which marketing data is formally
gathered, stored, analysed and distributed to managers in accordance
with their informational needs on a regular basis." In addition, the online
business dictionary defines Marketing Information System (MKIS) as "a
system that analyzes and assesses marketing information, gathered
continuously from sources inside and outside an organization or a
store."[1] Furthermore, "an overall Marketing Information System can be
defined as a set structure of procedures and methods for the regular,
planned collection, analysis and presentation of information for use in
making marketing decisions." The marketing information system
distributes the relevant information to the marketers who can
make the efficient decisions related to the marketing operations
viz. Pricing, packaging, new product development, distribution,
media, promotion, etC.
 MARKETIND AND ACOPE
Marketing refers to the activities of a company associated with buying and
selling a product or service. It includes advertising, selling and delivering
products to people. People who work in companies' marketing departments try
to get the attention of target audiences using slogans, packaging design,
celebrity endorsements and general media exposure. BREAKING DOWN
'Marketing'Marketing is everything a company does to gain customers and
maintain relationships with them. Even the small tasks like writing thank-you
letters, playing golf with a prospective client, returning calls promptly and
meeting with a past client for coffee are marketing. The goal of marketing is to
match a company's products and services to the people who need and want
them to ensure profitability. The Four P's of Marketing are Product, Place,
Price and Promotion. Product refers to an item or items a business intends to
sell. Price refers to how much the company will sell the product for. When
establishing price, companies must give considerations to the unit cost price,
marketing costs and distribution. Place refers to distribution of the
product. promotion refers to the integrated marketing communications
campaign Marketing is the process of planning and executing the conception,
pricing, promotion, and distribution of ideas, goods, and services to create exchanges
that satisfy individual and organizational goals. Acope 1. Goods: Physical goods
constitute the major part of a country’s production and marketing effort.
Companies market billions of food products, and millions of cars, refrigerators,
television and machines. 2. Services: As economies advance, a large proportion
of their activities is focused on the production of services. Services include the
work of airlines, hotels, car rental firms, beauticians, software programmers,
management consultants, and so on. Many market offerings consist of a mix of
goods and services. For example, a restaurant offers both goods and services.
3. Event : Marketers promote events. Events can be trade shows, company
anniversaries, entertainment award shows, local festivals, health camps, and
so on. For example, global sporting events such as the Olympics or Common
Wealth Games are promoted aggressively to both companies and fans. 4.
Experiences: Marketers create experiences by offering a mix of both goods and
services. A product is promoted not only by communicating features but also
by giving unique and interesting experiences to customers. Persons: Due to a
rise in testimonial advertising, celebrity marketing has become a business. All
popular personalities such as film stars, TV artists, and sportspersons have
agents and personal managers. Places: Cities, states, regions, and countries
compete to attract tourists. Today, states and countries are also marketing
places to factories, companies, new residents, real estate agents, banks and
business associations. Properties: Properties can be categorized as real
properties or financial properties. Real property is the ownership of real
estates, whereas financial property relates to stocks and bonds. Properties are
bought and sold through marketing. Organizations: Organizations actively
work to build image in the minds of their target public. The PR department
plays an active role in marketing an organization’s image
Information: Information can be produced and marketed as a product.
Educational institutions, encyclopedias, non-fiction books, specialized
magazines and newspapers market information. The production, packaging,
and distribution of information is a major industry. Media revolution and
increased literacy levels have widened the scope of information marketing.
, idea: Every market offering includes a basic idea. Products and services are
used as platforms for delivering some idea or benefit. Social marketers widely
promote ideas. Maruti Udyog Limited promoted safe driving habits, need to
wear seat belts, need to prohibit children from sitting near the driver’s seat,
and so on.
CEGMENTATION ND BACEC
Segmentation is the process of partitioning markets
into groups of customers and prospects with similar
needs and/or characteristics who are likely to exhibit
similar purchase behavior. Strategic segmentation is
for planning business and marketing strategy. Tactical
segmentation is when a marketing manager wishes to
prioritize marketing activities across a fairly large
customer base, targeting certain products, offers and
creative to certain customers. A good segmentation
strategy supports both strategic and tactical
activity.Market segmentation is a marketing concept
which divides the complete market set up into smaller
subsets comprising of consumers with a similar taste,
demand and preference.A market segment is a small unit
within a large market comprising of like minded
individuals.One market segment is totally distinct from
the other segment.A market segment comprises of
individuals who think on the same lines and have similar
interests.The individuals from the same segment
respond in a similar way to the fluctuations in the market.
Basis of Market Segmentation
Gender : The marketers divide the market into smaller segments based
on gender. Both men and women have different interests and
preferences, and thus the need for segmentation. Organizations need to
have different marketing strategies for men which would obviously not
work in case of females. A woman would not purchase a product meant
for males and vice a versa. The segmentation of the market as per the
gender is important in many industries like cosmetics, footwear,
jewellery and apparel industries.
Age Group : Division on the basis of age group of the target audience is
also one of the ways of market segmentation. The products and
marketing strategies for teenagers would obviously be different than
kids. Age group (0 - 10 years) - Toys, Nappies, Baby Food, Prams
Age Group (10 - 20 years) - Toys, Apparels, Books, School Bags
Age group (20 years and above) - Cosmetics, Anti-Ageing Products,
Magazines, apparels and so on.
Income : Marketers divide the consumers into small segments as per their
income. Individuals are classified into segments according to their monthly
earnings. The three categories are:High income Group
Mid Income Group
Low Income Group. Stores catering to the higher income group would have
different range of products and strategies as compared to stores which target
the lower income group. Marital Status : Market segmentation can
also be as per the marital status of the individuals. Travel agencies would not
have similar holiday packages for bachelors and married couples.
Occupation: Office goers would have different needs as compared to school /
college students. A beach house shirt or a funky T Shirt would have no takers
in a Zodiac Store as it caters specifically to the professionals.
 CONUMER BEHAVIOUR
Consumer behaviour is the study of how individual customers, groups or
organizations select, buy, use, and dispose ideas, goods, and services to satisfy
their needs and wants. It refers to the actions of the consumers in the
marketplace and the underlying motives for those actions.Marketers expect
that by understanding what causes the consumers to buy particular goods and
services, they will be able to determine—which products are needed in the
marketplace, which are obsolete, and how best to present the goods to the
consumers. The study of consumer behaviour assumes that the consumers are
actors in the marketplace. The perspective of role theory assumes that
consumers play various roles in the marketplace. Starting from the
information provider, from the user to the payer and to the disposer,
consumers play these roles in the decision process.The roles also vary in
different consumption situations; for example, a mother plays the role of an
influencer in a child’s purchase process, whereas she plays the role of a
disposer for the products consumed by the family.According to Engel,
Blackwell, and Mansard, ‘consumer behaviour is the actions and decision
processes of people who purchase goods and services for personal
consumption’
Problem Recognition: Put simply, before a purchase can ever take
place, the customer must have a reason to believe that what they
want, where they want to be or how they perceive themselves or a
situation is different from where they actually are. The desire is
different from the reality – this presents a problem for the customer.
Information Search: Once a problem is recognized, the customer
search process begins. They know there is an issue and they’re
looking for a solution. If it’s a new makeup foundation, they look for
foundation; if it’s a new refrigerator with all the newest technology
thrown in, they start looking at refrigerators – it’s fairly straight
forward.
Evaluation of Alternatives :Just because you stand out among the
competition doesn’t mean a customer will absolutely purchase your
product or service. In fact, now more than ever, customers want to be
sure they’ve done thorough research prior to making a purchase.
Because of this, even though they may be sure of what they want,
they’ll still want to compare other options to ensure their decision is
the right one.
Purchase Decision : Somewhat surprisingly, the purchase decision
falls near the middle of the six stages of the consumer buying process.
At this point, the customer has explored multiple options, they
understand pricing and payment options and they are deciding whether
to move forward with the purchase or not. That’s right, at this point they
could still decide to walk away.
MARKETING INFORMATION YTEM
Marketing information systems are important tools that
help marketing managers and business owners make
decisions about product development and promotional
activities. In this lesson, you'll learn why they are
important and look at some real-life ways companies
use them. A marketing information system (MkIS) is
a software program that provides information about
marketing research. It allows users to compile and
analyze data in a very easy, organized fashion. MkIS
systems are also effective tools that help users make
decisions about consumer behavior and the marketing
mix, including products and how they are placed,
priced, and promoted. The more sophisticated the
management information system, the more information
it can provide.
Importance. Organized Data collection – Lots of data can be collected
from the market. But the main word here is “Organized”. Organizing data is
very important else the data is meaningless. A broad perspective – With a
proper MIS in place, the complete organization can be tracked which can be
used to analyse independent processes. This helps in establishing a broader
perspective which helps us know which steps can be taken to facilitate
improvement. Storage of Important Data – Several times in
pharmaceuticals, when one drug is being produced they may need data of
another drug which was produced years back. Similarly in Media, photographs
are stored in archives. Avoidance of Crisis – The best way to analyse a
stock (share market) is to see its past performance. Top websites like
moneycontrol thrive on MIS. Similarly MIS helps you keep tracks of margins
and profitsControl – Just like MIS can help in a crisis, in normal times it
provides control as you have information of the various processes going on
and what is happening across the company.