PROJECT REPORT ON

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Submitted to Rashtrasant Tukdoji Maharaj Nagpur University,Nagpur

In Partial Fulfillment of the requirement of the Bachelor Of Business Administration

Submitted by

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Guidance by

Ambedkar Institute of Management Studies & Research Deeksha Bhoomi Nagpur-440012 (2010-2011) .Name of Guide Dr.

for tec hnical persons it is merchandising (product designing) and for buyers it is purchasing. Kashmir. for sales persons it is selling. In process of marketing we have to take the following decisions: i. and idea. Concerned people are persuaded to follow the ideas. Persons:-We have started marketing of persons also. Our tourism departments have been regularly inducing people to visit various tourists and health resorts. Taj Mahal Agra. protection of railway property. What is to be marketed? Who is the marketer? Who are the customers? What is to be marketed? a) b) c) d) e) Goods Services Ideas Persons Places. Goods:-It consists of all the consumer and producer goods. candidates are marketed and voters are convinced to vote for them. persons. vegetables. place. advocates. such as Pink City. In the election campaign. mechanics etc. Places:-The marketing of place is the common feature of the day. Mussouri etc. For housewives marketing means shopping. . ii. fruits. services. Jaipur. which has got different meanings for different groups. equipments etc. cloth. chartered accountants. iii. Ideas:-These days ideas are also marketed such as ideas of family planning by donation.INTRODUCTION MARKETING Marketing is a term. If we synthesise these views we understand that marketing is all sort of activities which facilitate the exchange of goods. help the needy. Services:-It consists of services of professional s like s doctors. soft drinks.

According to Peter Ducker.Generally seller is the marketer. In case of sophisticated arms also the buying countries insist upon the sell it. Production Concept of Marketing:Production concept of marketing stresses on the production of standard superior quality of product. Sales forecasting/Targets customers. It means that the marketing efforts should not be selfish enough to maximise profit at the cost of the society. We have been arguing with the seller countries that we shall be making its use for peaceful purposes. According to this concept marketing strategy must honour the social values. . marketing includes all those activities which facilitate the transfer of goods. Traditional Marketing Concept:According to F. The process of making further improvement in the product must also continue. Salesmanship and sales promotion. Planning and organising of marketing activities and co-ordinating it.E. The improved superior quality of product will result in higher sales. Marketing consists of those effect transfers in ownership of goods and care for its physical distribution.Clark. at a place where they are required and delivered to those who need it. Creation of customer means identification of consumers needs and then organising the business activities to meet these needs. Modern Marketing Concept:Modern marketing concept explains that the objectives of business can be achieved by identifying needs and wants of consumers. increased profit and prosperous future of the enterprise. Formulation of marketing policy for the specific market. marketer can be either seller or buyer. the purpose of business is to create customers. marketing includes the following:Identification of consumers needs and their satisfaction. According to traditional approach goods should be supplied at the time when it is needed. It stresses consumers satisfaction. who takes more active interest in the deal. In this way. It should not only maintain but add to the social welfare. In this way. marketing was restricted to the physical transfer of goods from its producers to the consumers. Traditionally. It should aim at consumer satisfaction with environmental conservation. It should enhance wellbeing of the society. It is true that in the long run quality product sells. The product having better quality dominates the market. Societal Concept of Marketing:Societal Concept of Marketing has emerged these days. Buyer can also be marketer such as in case of heavy water for nuclear plants. According to modern thinkers.

Profitability-Profit cannot be ignored because it is necessary for survival and growth. The main objectives of marketing may be mentioned as under:- OBJECTIVES OF MARKETING Creation of demand and organs Satisfaction. stimulated. E. facilitated and valued. marketing is not separate function but covers the entire business process. Marketing is a total system of interacting business activities designed to plan. Marketing as defined by management authorities: According to William Stanton s.L. Costing and budgeting efforts. Consumers satisfaction is the ultimate end of all . covers all the business activities which revolve round the consumers. price. Service to the social Securing customer Retaining reasonable volume Profitable sales Market share Building goodwill Creation of demand and securing consumers satisfaction:Marketing is consumer oriented activities. promote and distribute wants satisfying products and services to the present and potential customers. Marketing is specifically concerned with how transactions are created. Measurement and review of the marketing result. According to modern concept.Breach views. Marketing in this way. motivating its sales and distribution it into ultimate consumption at a profit. Marketing tries to create demand of its product through advertising and sales promotion measures. because every business activity is consumer oriented. In the word of Philip Kolter. marketing is the process of determining consumer demand for a product or service.Advertising.F.

Service to the social organs:Social responsibility must be assumed by the business. These days business is assumed to be social organ. Profitable sales volume:Marketing management refers to all business activities. The business cannot last long without customers satisfaction. which are consumer oriented. Function of physical distribution of goods Buying and Assembling Selling 1. It is duty of the market management to undertake profitable operations and maximise the profit of the business. Transportation 2. Marketing helps the enterprise in positioning itself firm in the market. The success of marketing depends upon capturing more share of the market.business activities. FUNCTION OF MARKETING Function of exchange. Warehousing 4. The management looks for the opportunities and tries its best to avail of the opportunities. Inventory 3. Order processing . so it must earn its profit by rendering services to the following sections (a) Employees (b) Consumers (c) Shareholders. Building goodwill:The competent and capable marketing management sells quality product at reasonable price and thus goodwill of the enterprise is built. Marketing adopts various image building activities by popularising products at convenient outlet. if the consumers are satisfied. Retaining reasonable market share:Survival of the enterprise depends upon capturing reasonable share of the market. The potential growth of the company is possible. It is the sincere effort of marketing management to maximise the profit of the company.

Inventory: . Selling function involves:Planning production of needs based goods. It is always in the interest of the enterprise quickly the orders received from buyers. water and air transport for acquiring goods and also for distribution of goods. rail. It reduces the distance between the producers and consumers. because it refers to decision making by marketing management as to the time. quantity. Optimum level of inventory is necessary to facilitate the smooth flow of goods as per requirement of the customers. The marketing management has to decide the type and the amount of different commodities to be maintained in the stock. quantity. advertising and sales promotion for creating demand. Selling:It is a process. nature of packing and delivery etc. and price and sellers goods to be bought. Functions of Physical Distribution of Goods:Marketing management has to decide about the physical distribution of goods.Transportation facilitates the transfer of products from one place to other place. Warehousing: .Physical distribution of goods requires inventory decision.Function of exchange:Buying and assembling:-Buying is the first step of the marketing. Buying is marketing function. whereby goods and services flow finally to the consumers.There is wide gap between the production and actual sale of goods. This is why. the marketing management is required to make necessary arrangement of storing the raw material and finished goods. quality. In case of manufacturing concerns. Transfer of title and possession of goods. Selling creates demand for products. This function involves:Transportation: . raw material is purchased and trading concerns purchase finished goods. Discovery of the market for goods and buyers for goods. These days the business uses road. Salesmanship. . Goods may also be assembled or collected from different sources and made available to the users. Order Processing:-The final step in the physical distribution of goods is order processing. Determining terms of sales and price.

Salesmanship. 6. Transportation 2. 3.Financing. Inventory. Development. Marketing Research. 9. 8. Advertising & Sales Promotion. Grading. Buying and 1. 4.ALTERNATIVE PRESENTATION OF MARKETING FUNCTIONS Functions of Exchange Function of Physical Distribution Of goods Facilitating transfer of ownership & product 1. 7. 4. Warehousing Branding & Labelling.Insurance and Risk Taking. DISTINCTION BETWEEN MARKTING AND SELLING . 5. 2. Selling 3.Order processing 1. Product Planning and Assembling 2.Marketing Intelligence. Packaging. Standardising.

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Marketing s role is to bring forth potential buyers from the market and provide tools to help sales move these potential buyers to sales revenue.SAL S FUNN L The s es funnel is not a ne tool for the management of the sales process Most sales managers use it to understand the sales pipeline and its status However. Both marketing and sales have an impact on the shape of the sales and marketing funnel.     . It can help us identify areas for improvement and understand what actions can help the sales and marketing process to both increase deal flow and lower the cost of ¤ ¤ ¢¡ £ sales. To leverage the traditional sales funnel. Sales role is to both identify potential buyers and follow the sales process to move the potential buyers to sales. it will help to regard it as the sales and marketing funnel. the sales funnel can be an important tool in improving performance.

The entrance into the sales funnel is defined in many ways and each sales or marketing e ecutive can use their own definition. Programs are e ecuted by marketing to bring potential customers into the sales funnel. Most sales e ecutives define the funnel with a series of stages (suspect. By keeping statistics through time.Different sales e ecutives define the sales funnel in different ways. ith the pipe shape. Can we do anything to make the process faster? Perhaps better marketing tools. sales training or references could speed up the process and further reduce our cost of sales. Efficiency and effectiveness are very high. The process of moving the potential customer to a sale takes time. Further. potential customer would enter the sales process with 100% of these customers turning into a sale. we can develop insight into our sales and marketing process. for our analysis. However. The height of the funnel represents the amount of time the average potential customer stays in the pipeline before they conversion into sales. For our purposes. the length of the pipe. For the purpose of this discussion. First. etc. can it be improved? Probable the answer is yes. ¥ . hot. No wasted sales or marketing efforts would be required to bring the one potential customer to a sale. The width of the funnel at any one point measures the number of potential customers involved at any one time. if we reduce the data to what it takes to get one sale. we will define the entry point as customer e pressing enough interest for us to justify handing the information over to the sales force. it can be improved.) which we encourage. ¦ ¥ ¥ ¥ ¥ The basic shape of the funnel gives us the quickest analysis. how it is changing and most importantly. allow us to define how we see the sales funnel (figure 1). how we can improve the process. we can standardized how the data is presented so we can better understand the elements of leads versus deals without regard to the number of deals. § Even with the perfect sales funnel. what would be the perfect shape The perfect sales funnel would be a pipe (figure 2). The cost of sales and marketing would be very low. prospect. what we call the stages is not meaningful.

Kinks in the slope indicate a pattern in our sales process. e can use the perfect sales funnel as a model of what we are seeking when we work to improve our sales and marketing operations but we will not reach the goal of the perfect sales funnel. appears to be almost stagnant. Efforts to reduce the time spent on the sale will always lower the cost of sales and increase revenue. several characteristics are key. Can we develop tools to convert ¨ . Any one section that appears elongated is a target for improvement. By accelerating the process of qualification. We may be seeing this shape because we should be disqualifying moreprospective customers between points A and B. Remember that the shape of the funnel gives usclues. the centre section of the funnel. does anyone have the perfect sales funnel? No. we develop reasons and improvements by understanding how the shape occurs. Does the sales force have the tools and training to disqualify more aggressively? Does sales management ask the right questions to force the sales force to make better decisions? We may being seeing this shape because we are hiding a fact from potential customers until point C and they are disqualifying themselves at that point. In Figure 3. the world is not that simple. analyzing them and looking at possible improvements will help us understand the power of the sales funnel as a diagnostic tool. we are bringing in many potential customers at point A and quickly disqualifying many of them by point B. Looking at the shape of sales funnels. The slope of the funnel indicates the rate at which we are disqualifying or being disqualified from the sales process. we can focus on those who will buy instead of those who eventually will be disqualified. between poin ts B and C. However.In the real world. what can we do to improve? The height of the funnel indicates time. Why do these kinks occur? If we have a lot of fall-out at a specific point in the process. We are spending our resources on many potential customers for an extended period but only a few of them will convert into sales. In using the sales funnel as a diagnostic tool.

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Perhaps customers have an internal sales or justification process and e are not arming our champions ith hat they need. it ears t e taking a l ng ti e t ve t em t a decisi n and t e rder. Sales and marketing management can be more of a science and using the sales funnel can help us understand hat is happening. . It is our job to remove obstacles from t e customers¶ decision and commitment process.e etti l e te et een int B nd it i ercent e f tenti l ers ct ll ing. What to improve is a critical uestion. and hy and ho w we can improve the processes. ever. We Everyone can make improvements in their sales and marketing proces ses. Perhaps e are not providing the tools or training our sales team needs. he results can increase revenue while lowering the cost of sales. oo many sales and marketing executives rely on experience and feel. We need t investigate at is appening et ee n points B and to nderstand t e customer is delaying. Perhaps e need assistance from sales management or company executives to assist in the close.

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