SEMINAR

ON

CONTEMPORARY ISSUES IN MANAGEMENT ON CRITICAL MARKETING
Submitted to: Tejbir Mam Lecturer Submitted by: Kartik Mehta MBA-IV Sem Regd.No.-10901304 R 1902 A10

CONTENTS
• Introduction • Critical Marketing • 4Ps • Review of Literature • Objectives • Marketing Plan • Suggestion/Recommendation • Conclusion

References

CRITICAL MARKETING
• It is a collection of four modules that focus on four drivers of business profitability, prize realization, cost reduction, increased market share, product and market development. Each component examines the principle drivers of performance, ways of improving that

performance, implications for how various marketing tools are used. • Critical Marketing Services specializes in assisting companies in market analysis, product strategy and positioning, business

development and sales channel development. • These types of activities are very different from the marketing communications services provided by advertising agencies and press relations firms. Critical Marketing Services helps companies develop and execute a sound market strategy for their products and services, which is fundamental to any promotional campaign, fund-raising effort or change in business activities

INTRODUCTION ABOUT MARKETING - MIX
What is MARKET A market consists of all the potential customers sharing a particular need or want who might be willing & able to engage in exchange to satisfy that need or want. It is a place where buyer & seller share common plate form to gives and share meaning about total product efferning.

What is MARKETING Marketing is the performance of business activities that direct the flow the producers to the consumer or uses marketing consumer needs where by business and other organization create transfer of value or service between them selves & their customers or uses in order to satisfy such need & wants of specific consumer with emphasis on profitability & getting the optimum use of resources available with the organization. The marketing concept holds that the key to achieving organization goals consists in determining he needs & wants to target market and delivering the desired satisfaction more effectively and efficiently than competitions.

The Marketing Concept has been expressed in many ways :  Marketing needs profitable.  Find wants & fill than.  "Love the customer not the Product".  "To do all in our power to tact the customers dollar full of value quality & satisfaction". (J. C. Penny)

ABOUT MARKETING - MIX
Introduction : Marketing mix is a curative information of modern marketing operations. A marketing mix so employed is not stagriant but changing in the tune and tone of changing international & external forces. On one sides, competition trade & environment keep the marketing mix. Dynamic on the other side the element with in the marketing mix one constantly. Interchange themselves they care inter dependent & mutually supporting one another. Thus rein forcing the dynamic nature of marketing mix. Meaning : Marketing mix is a combination of flour element product, price, promotion, structure, distribution system & promotional activities used to satisfy the needs of an organization's target market & at the same time achievers its marketing objective.

DEFINITION OF MARKETING -MIX
Marketing mix is a set of controllable variables that eh firm used to influence buyer response.

Element of Marketing Mix Marketing mix is a made up of four element namely - Product, Place, Price, Promotion. a. Product - Mix Product mix involves planning developing & producing right type of product & services to be marketed by the firm. Product mix deal with decision concerning verities, qualities, feature, packaging Size Brand guarantee & service to be offered. In respect the firm product. b. Price- Mix Price mix refers to the activities that are involved the right time, Transferring ownership to customers, & to make product available. At the right time & place .this also known on distribution control are related to storage, inventory control, transportation & channels of distribution.

c.

Promotion - Mix Promotion included all those activities which a business performs to inform the people about their product, promotion mix is the communication mix which deals with the personal & In ersonal persuasive communication about the product or service of manufacture.

d.

Place - Mix Place - mix refers to the activities that are involved in transferring ownership to customers & to make product available at the right time & place. This also known as distribution mix. The decision involved in distribution mix are related to storage inventory control, Transportation & channels of distribution.

REVIEW OF LITERATURE

PRICES
What is Prices Price is the exchange values of goods & service, terms of money. The term price denoeters money value of a product. It represents the amount of money for which ha product can be exchanged. Price is of vital importance to a bath the seller and the buyer in the market place. Only when is buyer and a seller agree on price we can have exchange of goods and related service leading to transfer of ownership in competitors market economy. Price is determined by free play of demand & supply. Price structure effect the firm's competitive position its share of the market. It has an import ante bearning on firm's revesive and net profit. Role of Price in Marketing Mix The Price of a Product also effect the other components of the marketing mix of a firm. A firm wile improve the quality of a product. Increase the number of accocampaying service and spend money or promotion & distribution. If it fills that t can sell its product at a prices high enough. The cover the cost of additional services and promotion. Price are also important from the point of view of consumer & society. To the consumer it determines his purchasing power and the standard of living.

Goods and service offered by various products at different prices help the consumer to take buying decision and satisfy his wants in a better way. FACTOR AFFECTING PRICING DECISION Numerous factors effect the pricing policies & decision of a firm such factor could be studied under two group

Internal Factor

-

External Factor

Internal Factor Internal factor are the forces which can be control by a firm to a certain extent such a company objective marketing mix cost etc.

External Factor External factor are the forces outsides the firm over which business has to control. They create difficulties intermixing the picture of a product. All these factors are shown in a following figure.

MEDIA COST
Advertising is a means of Mass Communication & persuasion. It send message to the prospective buyer in the most economical manner. Advertisement increase their knowledge about the products raises their standard of living & serves their time in purchasing. It keep the manufacturer to make quick sales which leads to large scale production & less cost. It help them to face competition therefore. Advertising plays very important role in increasing sales of particles product of factory. The company must select the best media to advertise their product which have maximum reach to the audience. Before selecting the advertising media the factory must see its cost. It is essential to decide about media cost. Sufficient funds should be available in factory to meet their requirement using in advertising. In today competitive are the Micro Plywood also advertise their product through different advertising media like. The factory has fixed their advertising budget Rs. 2,000 per month. They used media The amount allocated different media used to advertise in described below.

OBJECTIVE OF STUDY
To under stand the marketing mix in practical life.  To have practical knowledge about Product mix.  To have practical know about Price mix.  To have practical know about Place mix.  To have practical know about Promotion mix.

MARKETING MIX
Introduction Marketing mix is a lucrative for mulor of modern marketing operation. A marketing mix so evolved is not stragraint but charging I true & tone of changing internal & external forces. On one sides change in respect of consumer, competition, trade & environment keep the marketing mix dynamic. On the other sides the element with in the marketing mix are constantly interchanging them selves. They are inter dependent & mutually supporting one another. Thus rein forcing the dynamic nature of marketing mix. The dynamic nature of marketing mix is quite evident from the fact each marketing firm has its unique marketing mix. Definations "The Marketing - Mix refers to the apportionment of effort the combination the designing the integration of element of marketing in to a programme to mix, which on the basic of an appraiser of the market process, will the objective of an enterprise at a give them. Prof. 'N.H.BORDER'

"Marketing mix is a set of controllable variables that he firm can use to influence buyer response". 'Philip Kottler'

"Marketing Mix is a combination of four element - Product, Place, Pricing, Structure distribution system and promotional activities used to satisfy the needs of an organization target market and at the same time achieve its marketing objective" 'Stanton Foundation of Marketing'

ELEMENT OF MARKETING MIX
A product mix is the set of all production and items that a particular seller offers for sale for buyer. Product mix involves planning developing & producing the right types of products & services to be marketed by the firm. It deals with the product range, product qualities, a part from producing the products emphasis should also be laid on their branding, packaging colour, and other feature. The Product Variable The product mix the following important variable. The deserve a brief out 1. Product Line & Product Range Product line stands for the entire range of product manufactured by the firm, " product line is a group of closed related product which are able to satisfy a clause of needed to be used together to be sales to the same consumer group to group to be moved through same distribution channels with in a given prices ranges Product range speaks of the depth of specialization in term off varieties based on consumer pockets & functional requirement & product range refers to the varieties offered of the same product. 2. Product Design

The marketing decision starts with designing the product in a easy which is requirement by the target consumer. Product design is an important factor in the sale of many product. Product designed properly enhance. Product utility attractiveness safety and looks and thus enhances sales, reduces cost of manufacturing. Promoters advertising & even permits higher prices. 3. Product Package Package is the container or a wrapper used to place the product. A good package protects the products against spoilage preserve freshness and flavour, insures loss against evaporation, reduces. Loss from handling and protects against adverse effects of weather. It also helps to keep the products clean ensures easy handling and storage makes easy identification & thus saves the time of both consumer & seller.

4.

Product Quality Establishment & control of quality standards is basic step in merchandising. The grades & standard of quality are generally fixed either by how or by agreement among the producers. Such standard are regarding shape, size, colour, weight, flavour,

appearance etc. product quality depends on design material used process of manufacturing, engineering packaging etc. 5. Product Labeling A product label may be either descriptive informative grade designing or combination of these labers are fixed to product to identify then and to describe their ingredients quality & other characteristics. 6. Product Branding The product are branded in order to make identification possible to distin them from competitions. Products and to create is degree of loyalty among the customer. A 'Branded' is a name term symbol or design to identify the good or services and to different at from those of competitors.

7.

After Sales Services In order to secure repeat sales, customer goodwill & good image the seller indulges in providing various after sale service the more the use of machinery equipment appliance etc. the more is the need for after sale services like installion, guarantee and warrantees, repair.

PLACE-MIX
Place or distribution mix stands for the matching arrangement for the smooth flow of good & service from the product to the consumer. It is concerned with creation of place time and passion utilities. Place mix entails activities the are necessary to transfer ownership of good to customer and to make available goods at the right time and place. It includes decision about the channels of distribution and the place at which the product should be displayed and made available to the customers. The place mix variables The basic place mix variables one described in brief at this gesture. • Transportation • Inventory Levels • Ware Housing • Channels of Distribution

PROMOTION MIX
Promotion mix is the communication mix which deals with the personal selling & in personal persuasive communication about the product or services of the manufacturer. Through companies communicate the with their presents and potential customer in wides variety of ways the most distinguishable personal communication relates to face to meeting between the sales forces of the company and the cliente. On the other hand impersonal communication include advertising, sales promotion & personal selling. The promotion variable following are the brief outlining of Promotion Mix variable :Personal Selling Advertising Sales Promotion Public Relation Trade Fair & Exhibition Publicity

Market Consideration
The nature of market is the key factor influencing is the key factor influencing the choice of channels of distribution following features A) B) C) D) E) Consumers or Industrial Market Number of Potential Customer Size of order Buying habit of customers Geographical concentration of market.

2)

Product Consideration The type and nature of the product influences. The numbers and type of middlemen to be chosen for distributing the product.

FACTORS ARE a) b) c) d) e) f) Unit Value Product Line Standardized Product Technical nature Bulk and weight Pershability

3)

Company Consideration The nature and size of the business firm have an important impact on the selection of channels of distribution following factors

a) b) c) d) e)

Volume of production Financial resource Experience and Competence of management Service Provided by the channels Desire for control of channels

4)

Middlemen Consideration Certain factors related to the middle men which influence the channels selection.

a) b) c) d) e) f)

A vailability of desired middlemen. Financial ability. Attitude of middleman. Sales potential Cost Competition and legal constraints.

MARKETING PLAN
A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use. MARKETING PLANNING PROCESS Marketing process can be realized by the marketing mix in step 4. The last step in the process is the marketing controlling. In most organizations, "strategic planning" is an annual process, typically covering just the year ahead. Occasionally, a few organizations may look at a practical plan which stretches three or more years ahead. To be most effective, the plan has to be formalized, usually in written form, as a formal "marketing plan." The essence of the process is that it moves from the general to the specific, from the vision to the mission to the goals to the corporate objectives of the organization, then down to the individual action plans for each part of the marketing program. It is also an interactive process, so that the draft output of each stage is checked to see what impact it has on the earlier stages, and is amended. Marketing planning aims and objectives Behind the corporate objectives, which in themselves offer the main context for the marketing plan, will lie the "corporate mission," which in turn provides the context for these corporate objectives. In a sales-oriented organization, the marketing planning function designs incentive pay plans to

not only motivate and reward frontline staff fairly but also to align marketing activities with corporate mission. This "corporate mission" can be thought of as a definition of what the organization is, of what it does: "Our business is …". This definition should not be too narrow, or it will constrict the development of the organization; a too rigorous concentration on the view that "We are in the business of making meat-scales," as IBM was during the early 1900s, might have limited its subsequent development into other areas. On the other hand, it should not be too wide or it will become meaningless; "We want to make a profit" is not too helpful in developing specific plans. Abell suggested that the definition should cover three dimensions: "customer groups" to be served, "customer needs" to be served, and "technologies" to be used
[1]

. Thus, the definition of IBM's "corporate mission" in the 1940s

might well have been: "We are in the business of handling accounting information [customer need] for the larger US organizations [customer group] by means of punched cards [technology]." Perhaps the most important factor in successful marketing is the "corporate vision." Surprisingly, it is largely neglected by marketing textbooks, although not by the popular exponents of corporate strategy - indeed, it was perhaps the main theme of the book by Peters and Waterman, in the form of their "Superordinate Goals." "In Search of Excellence" said: "Nothing drives progress like the imagination. The idea precedes the deed."
[2]

If the

organization in general, and its chief executive in particular, has a strong vision of where its future lies, then there is a good chance that the organization will achieve a strong position in its markets (and attain that

future). This will be not least because its strategies will be consistent and will be supported by its staff at all levels. In this context, all of IBM's marketing activities were underpinned by its philosophy of "customer service," a vision originally promoted by the charismatic Watson dynasty. The emphasis at this stage is on obtaining a complete and accurate picture. A "traditional" - albeit product-based - format for a "brand reference book" (or, indeed, a "marketing facts book") was suggested by Godley more than three decades ago:
1.

Financial data—Facts for this section will come from management accounting, costing and finance sections.

2. Product data—From production, research and development. 3. Sales and distribution data - Sales, packaging, distribution sections.
4.

Advertising, sales promotion, merchandising data - Information from these departments. Market data and miscellany - From market research, who would in most cases act as a source for this information. His sources of data, however, assume the resources of a very large organization. In most organizations they would be obtained from a much smaller set of people (and not a few of them would be generated by the marketing manager alone).

5.

It is apparent that a marketing audit can be a complex process, but the aim is simple: "it is only to identify those existing (external and internal) factors which will have a significant impact on the future plans of the company." It is clear that the basic material to be input to the marketing audit should be

comprehensive. Accordingly, the best approach is to accumulate this material continuously, as and when it becomes available; since this avoids the otherwise heavy workload involved in collecting it as part of the regular, typically annual, planning process itself - when time is usually at a premium. Even so, the first task of this annual process should be to check that the material held in the current facts book or facts files actually is comprehensive and accurate, and can form a sound basis for the marketing audit itself. The structure of the facts book will be designed to match the specific needs of the organization, but one simple format - suggested by Malcolm McDonald - may be applicable in many cases. This splits the material into three groups:
1.

Review of the marketing environment. A study of the organization's markets, customers, competitors and the overall economic, political, cultural and technical environment; covering developing trends, as well as the current situation. Review of the detailed marketing activity. A study of the company's marketing mix; in terms of the 7 Ps - (see below) Review of the marketing system. A study of the marketing organization, marketing research systems and the current marketing objectives and strategies. The last of these is too frequently ignored. The marketing system itself needs to be regularly questioned, because the validity of the whole marketing plan is reliant upon the accuracy of the input from this system, and `garbage in, garbage out' applies with a vengeance.

2.

3.

Portfolio planning. In addition, the coordinated planning of the individual products and services can contribute towards the balanced portfolio. 80:20 rule. To achieve the maximum impact, the marketing plan must be clear, concise and simple. It needs to concentrate on the 20 percent of products or services, and on the 20 percent of customers, that will account for 80 percent of the volume and 80 percent of the profit. 7 Ps: Product, Place, Price and Promotion, Physical Environment, People, Process. The 7 Ps can sometimes divert attention from the customer, but the framework they offer can be very useful in building the action plans.

It is only at this stage (of deciding the marketing objectives) that the active part of the marketing planning process begins. This next stage in marketing planning is indeed the key to the whole marketing process. The "marketing objectives" state just where the company intends to be at some specific time in the future. James Quinn succinctly defined objectives in general as: Goals (or objectives) state what is to be achieved and when results are to be accomplished, but they do not state "how" the results are to be achieved.[3] They typically relate to what products (or services) will be where in what markets (and must be realistically based on customer behavior in those markets). They are essentially about the match between those "products" and "markets." Objectives for pricing, distribution, advertising and so on are at a lower level, and should not be confused with marketing objectives. They are

part of the marketing strategy needed to achieve marketing objectives. To be most effective, objectives should be capable of measurement and therefore "quantifiable." This measurement may be in terms of sales volume, money value, market share, percentage penetration of distribution outlets and so on. An example of such a measurable marketing objective might be "to enter the market with product Y and capture 10 percent of the market by value within one year." As it is quantified it can, within limits, be unequivocally monitored, and corrective action taken as necessary. The marketing objectives must usually be based, above all, on the organization's financial objectives; converting these financial measurements into the related marketing measurements.He went on to explain his view of the role of "policies," with which strategy is most often confused: "Policies are rules or guidelines that express the 'limits' within which action should occur."Simplifying somewhat, marketing strategies can be seen as the means, or "game plan," by which marketing objectives will be achieved and, in the framework that we have chosen to use, are generally concerned with the 8 P's. Examples are: 1. Price - The amount of money needed to buy products 2. Product - The actual product 3. Promotion (advertising)- Getting the product known 4. Placement - Where the product is located 5. People - Represent the business 6. Physical environment - The ambiance, mood, or tone of the environment 7. Process - How do people obtain your product 8. Packaging - How the product will be protected

(Note: At GCSE the 4 Ps are Place, Promotion, Product and Price and the "secret" 5th P is Packaging, but which applies only to physical products, not services usually, and mostly those sold to individual consumers)

In principle, these strategies describe how the objectives will be achieved. The 7 Ps are a useful framework for deciding how the company's resources will be manipulated (strategically) to achieve the objectives. However, they are not the only framework, and may divert attention from the real issues. The focus of the strategies must be the objectives to be achieved - not the process of planning itself. Only if it fits the needs of these objectives should you choose, as we have done, to use the framework of the 7 Ps. The strategy statement can take the form of a purely verbal description of the strategic options which have been chosen. Alternatively, and perhaps more positively, it might include a structured list of the major options chosen. One aspect of strategy which is often overlooked is that of "timing." Exactly when it is the best time for each element of the strategy to be implemented is often critical. Taking the right action at the wrong time can sometimes be almost as bad as taking the wrong action at the right time. Timing is, therefore, an essential part of any plan; and should normally appear as a schedule of planned activities.Having completed this crucial stage of the planning process, you will need to re-check the feasibility of your objectives and strategies in terms of the market share, sales, costs, profits and so on which these demand in practice. As in the rest of the marketing discipline, you will need to employ judgment, experience, market research or anything else which helps you to look at your conclusions from all possible angles.

Detailed plans and programs At this stage,you will need to develop your overall marketing strategies into detailed plans and program. Although these detailed plans may cover each of the 7 Ps (marketing mix), the focus will vary, depending upon your organization's specific strategies. A product-oriented company will focus its plans for the 7 Ps around each of its products. A market or geographically oriented company will concentrate on each market or geographical area. Each will base its plans upon the detailed needs of its customers, and on the strategies chosen to satisfy these needs. Brochures and Websites are used effectively. Again, the most important element is, indeed, that of the detailed plans, which spell out exactly what programs and individual activities will take place over the period of the plan (usually over the next year). Without these specified - and preferably quantified - activities the plan cannot be monitored, even in terms of success in meeting its objectives.It is these programs and activities which will then constitute the "marketing" of the organization over the period. As a result, these detailed marketing programs are the most important, practical outcome of the whole planning process. These plans must therefore be:

Clear - They should be an unambiguous statement of 'exactly' what is to be done. Quantified - The predicted outcome of each activity should be, as far as possible, quantified, so that its performance can be monitored.

Focused - The temptation to proliferate activities beyond the numbers which can be realistically controlled should be avoided. The 80:20 Rule applies in this context too. Realistic - They should be achievable. Agreed - Those who are to implement them should be committed to them, and agree that they are achievable. The resulting plans should become a working document which will guide the campaigns taking place throughout the organization over the period of the plan. If the marketing plan is to work, every exception to it (throughout the year) must be questioned; and the lessons learnt, to be incorporated in the next year's .

• •

SUGGESTIONS & RECOMMENDATIONS

SUGGESTIONS & RECOMMENDATION
Product based suggestion:  Due to present fashion market, customer inclinations are shifting towards designs and fabulous colors and same happenings can be seen in market. The shoe industry at Yamuna Nagar provide more quality oriented and subtle designs. In order to deep penetrate the consumer psyche, it should offer trendy designs in its product specially for industrial and professional offices.  Major complaints shown by consumers survey in the recent trend of down fall in the quality of the product. In order to enhance the already established market, the manufacturers in Yamuna Nagar should concentrate on the quality front of its product. So they should concentrate on upgrading its quality.  Customers aversion specially towards Micro Plywood Factory ply/board is due to high pricing when the competitive companies are offering customer oriented products which are highly standardised and offer a variety of designs. Thus it should opt for heavy commitment toward research and development to facilitate innovative designs.

Price based Suggestions:  It is a price war in ply/board market. Where price of Micro Plywood Factory are elated highest in comparison to its close competitors. Thus the major surveillance point for Micro Plywood Factory is cut low in prices it offers. Even customers survey depicted the same behaviour curtail towards Micro Plywood Factory products.  A major composition of ply/board market is inclined toward the product available at cheap prices like limitation of branded products and local brand offer only price satisfaction. It is recommended through the customer research that manufacturers should adopt laboratory testing of raw material and finished product to avoid the cost of wastage which is a major contributor in the price fixation.  Since manufacturers at Yamuna Nagarare floating at growth stage of its life cycle, it should adopt the pricing policy as: Behave as yours Competitor Or Make a line for your competitor Place based suggestion

 Presenting the well equipped fighters in ply/board market Micro Plywood Factory an Local factory. Distribution should be done through more outlets.  The die hard players in this industry not only casters to customers need through exclusive outlets but the general ply/board dealers also integrate its efforts in turnover of companies. But this is not the case in reality. A recommendable point in this area is to discord the policy of aloofness from general dealers and adopting them as a part of its distribution channel.  A major effort that can be undertaken toward influencing the consumers behaviour is concentrated marketing. Promotion based Suggestions The small manufacturers and dealers in Yamuna Nagar should concentrate their efforts in local media only as they cannot affords to use regional or national level media i.e. regional newspaper and television. On the other hand Micro Plywood Factory may use any of the media for promotion because of its sound financial portion.

CONCLUSION

CONCLUSION
In Conclusion Marketing mix is a dynamic concept. It is remarked that it is not be product but the satisfactions that are sold. Therefore, marketing involves a number of functions in order to achieve its target of consumer satisfaction. When all these functions are effectively co-ordination. They are termed as marketing mix. Marketing mix serves as the link between the business firm & its customers. Since marketing mix take care of the needs of the customer help in increasing sales & earning higher profits. Marketing mix gives consideration to the various element of the marketing mix & system there is a balance relation between these element. It helps to allocate the responsibility.

REFERENCE

REFERENCE

1. Kotler Philip, “Marketing Mgt.” XI edition New Delhi Prentice Hall, 2004. 2. “The Marketing white book 2005 by “Business world”. 3. Gupta S.L., “Rural Marketing – Text & Cases” I edition, Wisdom Publication 2004.
4.

Gopalaswami T.P., “Rural Marketing” 2nd edition.

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