Professional Documents
Culture Documents
Zeshan Younas 1005 Sec A MM
Zeshan Younas 1005 Sec A MM
UNIVERSITY OF OKARA
OPEN BOOK
Q:Define Marketing Management,and what is your understanding
about four different orientation towards market place,also
differentiate between selling concept and marketing concept.
Marketing
Marketing is a philosophy or a management orientation that stresses the
importance of customer satisfaction, as well as the set of activities used to
implement this philosophy.
The American Marketing Association definition of marketing:
Marketing Marketing is an organizational function and a set of processes for
creating, communicating, and delivering value to customers and for managing
customer relationships in ways that benefit the organization and its stakeholders.
Marketing management
Management is the process of getting things done in an organised and efficient
manner. Marketing management aims at efficient operation of marketing
activities.
Marketing management smoothen the process of exchange of ownership of goods
and services from seller to the buyer. Marketing management, like all other areas
of management comprises of the function of planning, organising, directing
coordinating and controlling.
This price is believed to make the most value proposition of the assembly orientation
organization’s key offering, focusing its resources towards operations and positioning
its key marketing communications on price-based messages.
Sales Orientation
It concentrates mainly on making an actual scale of the merchandise . This
orientation concentrates on making every probable sale of the produce no matter the
standard of the merchandise or consumer needs. It points out that the purchasers
will purchase a selected product or service on the event that the business sells the
products aggressively.
A sales orientated organization focuses the majority of its resources on selling its
products and services to its audience . In a way, it does priorities its customers but
not during a way of listening of their needs and wishes – it simply wants to sell to
them.
Existing products are usually given to the sales and marketing teams which they're
tasked to finding buyers to those products, wherever and whoever they'll be. Many
organizations will feel they are not selling enough of their products and may ,
therefore, adopt sales orientated techniques to focus the organization on selling
more and building on its profit margins.
Disregarding customer needs during this manner , and adopting aggressive
outbound sales techniques, is an approach that rarely works within the longer term .
this is often often especially the case now that the general “customer” (regardless of
industry) is more empowered than ever and appreciates relationships within the
sales processes, especially within the B2B pharma sectors. That said, this is often to
not mention that organizations cannot be successful with this approach. The
inbound sales/marketing approach has emerged as attractive in modern-day sales
orientated organizations.
Advantages: Immediate short-term sales are generated.
Disadvantages: Risks customer confidence, costs, not always sustainable.
2.Marketing Orientation
Here business entities places the customers at the midst of the company. All the
decisions and services are availed towards the consumer. It primarily involves
businesses to comprehend the requirements of the customers. It implements the
strategy appropriately from product conception to the sales. It brings out more value
than its customers by concentrating on the needs and wants of the objective market.
1. The marketing concept states that the social and economic justification for an
organization's existence is the satisfaction of customer wants and needs
while meeting organizational objectives.
Marketing concept
Marketing concept focus on the satisfaction of customer’s and believes it as the
key to the success of any organization and maximization of its profit in long run.
Beginning point:
Factory Marketplace
Concentrates on:
Process:
5. Views business as a good producing 5. Views business as a customer
Business Planning:
Short Term Long Term
Orientation:
Volume Profit
Cost Price:
. Cost determines price. Consumer determines price; price
determines costs.
Transpiration, storage and other They are seen as vital services to be
distribution functions are perceived as provided to the customer-not
mere extensions of the production grudgingly, but in the most willing
function. manner.
ASSIGMMENT
Tie-Ups:
Patanjali is already in tie-up with Future cluster and the venture has
been flourishing so far. they must still collaborate with different fashionable retailers
and will verify coming into the E-commerce platforms.
Diversify:
Patanjali’s competitors are diversifying their product vary by stepping
into new product classes like clothing. Patanjali has continuously positioned as a desi
brand. Patanjali should utilize the chance of creating cloth a fashion statement.
Threats
Increasing Competition:
FMCG giants, like HUL, Marico and alternative new
entrants have known the chance created by the attention campaign by Patanjali and
are currently coming into the organic product market increasing the competition for
Patanjali.
Negative spoken
Since Patanjali is sort of new within the market any negative
spoken in the social media platforms will influence be harmful for the position of
Patanjali in the market.
Poor reap will have an effect on business:
Main ingredients of the bulk of the
merchandise of Patanjali are naturally cultivated and dangerous yield will adversely
have an effect on the assembly of the products and in turn, moving the sales revenue.
Price war: Patanjali’s slogan is to bring flavoring and pure merchandise to the
plenty at cheap values. Earlier brands accustomed charge a premium for herbal
products. however the FMCG giants like HUL, Colgate are within the
marketplace for a awfully while and thus have deep pockets and can be able to
bleed for extended in revenge of the low price charged by Patanjali. Such price
battle will drastically have an effect on the gain of Patanjali because it is already
in operation at a awfully low margin.
Marketing mix at Patanjali.
Baba Ramdev and Acharya Balakrishna:started Patanjali. In company, Ramdev
held no stake, whereas Balakrishna held a 92% stake. The rest of the 8% stake is held
by Sarvan and Sunita Poddar, who gave their land to Patanjali. In FY 2015/16,
Patanjali's revenue was around 45-50 billion, which was approximately 125-150
percent more in comparison to FY2014/15. Without any prior market research,
Patanjali launched its products in various categories. Patanjali was following an
umbrella strategy for its branding. That means all sub-brands come under the category
of Patanjali Brands.
Its Marketing Mix includes:
Product:
The first product was aloe vera gel, which was promoted in Ramdev's yoga
camps. Currently, Patanjali has 400 stock-keeping units. The company is operating in
four major categories: Ayurvedic Health Products, Food Products, Skin Care and
Home Care products, and Juices. Its best seller product is Cow Ghee followed by
Dant Kanti toothpaste and Kesh Kanti Shampoo. The reason behind Patanjali's
success over FMCG product was its economical pricing. It adopted a low pricing
strategy. Patanjali also launched its premium product om Skin Care and Homecare
category to compete with Maybelline LLC and L'Oreal S.A.
Pricing It adopted a lower pricing strategy. It priced its products approximately
15-20% lower as comparison to different companies. the corporate took its staple
directly from farmers; that's why the company will sell its merchandise at a lower
price to its consumers. In a nutshell, the company is exploitation mass
customization to form economies of scale.
Place: It used a franchise model to sell its products. Its shops were classified as
Patanjali Chikitsalaya (dispensaries), Patanjali Arogya Kendra (health center),
and Swadesi Kendra (Indian-made goods). In Chikitsalaya and Arogya Kendra
doctor was additionally available to provide prescription to patients. In 2015,
Patanjali had more or less five hundred franchise stores. it's products also offered
in on-line retail stores.
Promotion
Initially, Most of Patanjali advert is finished by cake Ramdev in his yoga
camps. However, Patanjali is additionally finance tons in mass media promoting like
television. According to a report of Broadcasting Audience analysis Council, Patanjali
advertisement was seen additional compared to truthful and beautiful and Cadbury
within the year 2015. Its best marketing strategy was content marketing, which
suggests they centered on educating individuals regarding their merchandise. along
side its quality products and a lively distribution network, Patanjali achieved success
in the market. Patanjali also did a partnership with Future Retail cluster to extend its
visibility across a broad vary of customers. we will perceive the promoting mixture of
Patanjali with the assistance of the AIDA model of shopping for behaviour. Patanjali,
with its marketing mix, persuaded customers in every step (Attention, Interest, Desire,
Action) of the buying call process.
WHAT ARE YOUR RECOMMENDATION TO ACHEIVE ORGANIZATIONAL
GOAL?
Answer
1. Organizational goals
End
The SWOT investigation of Patanjali shows that the organization is well en route to
better progress. The organization basically needs to deal with its correspondences and
avoid whatever straightforwardly impacts Baba Ramdev. It needs to put more trust in
itself to seek after the business sectors worldwide and associate with more purchasers
that would be keen on its image and contributions.