4Ps Marketing Mix

CHAPTER - I
INTRODUCTION
1
INTRODUCTION
The four Ps of marketing are the key factors that are involved in the marketing of a good or
service. They are the product, price, place, and promotion of a good or service. Often referred to
as the marketing mix, the four Ps are constrained by internal and external factors in the overall
business environment, and they interact significantly with one another.
The 4 Ps are used by companies to identify some key factors for their business, including
what consumers want from them, how their product or service meets or fails to meet those
needs, how their product or service is perceived in the world, how they stand out from their
competitors, and how they interact with their customers. Product
Product refers to a good or service that a company offers to customers. Ideally, a product should
fulfill an existing consumer demand. Or a product may be so compelling that consumers believe
they need to have it and it creates a new demand. To be successful, marketers need to understand
the life cycle of a product, and business executives need to have a plan for dealing with products
at every stage of their life cycle. The type of product also partially dictates how much businesses
can charge for it, where they should place it, and how they should promote it in the marketplace.
Price
Price is the cost consumers pay for a product. Marketers must link the price to the product's real
and perceived value, but they also must consider supply costs, seasonal discounts, and
competitors' prices. In some cases, business executives may raise the price to give the product
the appearance of being a luxury. Alternatively, they may lower the price so more consumers can
try the product.
Marketers also need to determine when and if discounting is appropriate. A discount can
sometimes draw in more customers, but it can also give the impression that the product is less
exclusive or less of a luxury compared to when it is was priced higher.
Place
When a company makes decisions regarding place, they are trying to determine where they
should sell a product and how to deliver the product to the market. The goal of business
executives is always to get their products in front of the consumers that are the most likely to buy
them.
In some cases, this may refer to placing a product in certain stores, but it also refers to the
product's placement on a specific store's display. In some cases, placement may refer to the act of
including a product on television shows, in films, or on web pages in order to garner attention for
the product.
Promotion
Promotion includes advertising, public relations, and promotional strategy. The goal of
promoting a product is to reveal to consumers why they need it and why they should pay a
certain price for it.
Marketers tend to tie promotion and placement elements together so they can reach their core
audiences. For example, In the digital age, the "place" and "promotion" factors are as much
online as they are offline. Specifically, where a product appears on a company's web page or
2
social media, as well as which types of search functions trigger corresponding, targeted ads for
the product.
Marketing a service-base business is different from marketing a product-base business. Services

marketing is marketing based on relationship and value. Marketing servicesand other intangibles
is considered as valid as the marketing of products and commodities, as the key future of the
marketing model is its emphasis not on maximising profits ,but on sensitively and satisfying
human need (Kapoor, 1988).Services marketing concepts and strategies have developed in
response to the tremendous growth of service industries resulting in their increased importance to
the U.S and world economics (Zeithaml, 2000). Services marketing is a comprehensive term that
describes all the processes and interactions that result in satisfaction for customers and revenue
for the organisation. According to Kotler (1995) points out, organizations such as museums,
universities, libraries, and charities need to market their causes and their products to gain
political and social support as well as economic support. Mainly the information explosion,
technology revolution and escalating library costs are responsible for encouraging the library
profession to develop a marketing approach in its products and services. Present society is
moving towards a knowledge-based society for which information is primary importance. Due to
improving the user satisfaction and promoting the use of services, marketing of information
product and services is an integral part of libraries and information centers (Joseph and
Parameswari, 2004
ss where by individuals and groups obtain what they need and want through creating and
exchange products and value with others‖ (Kotler and Armstrong, 2001).Marketing is the study
of exchange processes especially those associated with the provision of goods and
services(Adcock, 2001).According the British Chartered Institute of Marketing― Marketing is the
management process responsible for identifying, anticipating and satisfying customer‘s
requirements profitability. (Adcock, 2001)Marketing people are mainly involved in marketing of
goods, services, events, experiences, persons, places, properties, organizations, information, and
ideas. INFORMATION AS A PRODUCT information can be produced and marketed as a
product. This is essentially what schools and universities produce and distribute at a price to
parents, students, and communities. The production, packaging and distribution of information is
one of our society‘s major industries.(Kotler,2006).As the world‘s economy enters the
Information Age, all types of information become more important to many aspects of business,
to say nothing of daily life (Drucker, 1994; Naisbitt,1982).Information is the primary importance
of the present society. Information production needs human efforts ,investment of time, energy,
cost etc. Information and decision making clearly has a cost, time personnel, money and other
related factors. The fact of understanding the time spent for making lists, thinking, organizing
and other related activities leads to conclude that information produced is available against
money. The following factors information economy, industrial economy, service economy, and
rising costs ofi nformation are strengthening to view information as commodity
Marketing is the management process responsible for identifying, anticipating, and satisfying
customer requirements profitably (The Chartered Institute of Marketing, 2009). The origin of
marketing mix concept came from the single P (price) of the theory of microeconomic (Chong,
2003). Marketing mix is the combination of different marketing decision variables being used by
the firm to market its goods and services. After identifying the market and gathering the basic
3
information about it, the next step is the direction of market programming, is to decide upon the
instruments and the strategy to meet the needs of the customers and the challenge of the
competitors. It offers an optimum combination of all marketing ingredients so that companies
can realize goals for example profit, sales volume, market share, return on investment etc. the
marketing mix is grouped under four elements such as Product, Price, Place, Promotion. A
profitable formula of marketing operations is that mostly marketing mix changes as per
marketing conditions and also with changing environmental factors (Singh, 2012). Marketing
mix is the set of the marketing tools that the firm uses to pursue its marketing objectives in the
target market (Kotler, et al, 1999). Marketing mix is considered as one of the major concepts in
modern marketing. They also defined marketing mix as the set of tactical marketing tools that the
firm blends to produce the response it wants in the target market (Kotler and Armstrong, 2014).
In addition (Singh, 2012) also agreed that the marketing mix is a set of controllable variables that
the company can use to influence the buyers‘ responses. In other words, marketing mix helps the
firms going through a variety of obstacles in the market to make proper decisions in influencing
customer‘s demands for the firm‘s products.
What Are the 4 Ps?
The four Ps of marketing are the key factors that are involved in the marketing of a good or
service. They are the product, price, place, and promotion of a good or service. Often referred to
as the marketing mix, the four Ps are constrained by internal and external factors in the overall
business environment, and they interact significantly with one another.
The 4 Ps are used by companies to identify some key factors for their business, including what
consumers want from them, how their product or service meets or fails to meet those needs, how
their product or service is perceived in the world, how they stand out from their competitors, and
how they interact with their customers.
KEY TAKEAWAYS
 The four Ps are the four essential factors involved in marketing a good or service to the
public.
 These are the four Ps: the product (the good or service), the price (what the consumer
pays), the place (the location where a product is marketed), and promotion (the
advertising).
 The concept of the four Ps has been around since the 1950s; as the marketing industry has
evolved, the concepts of people, process, and physical evidence have become important
components of marketing a product, too.
Understanding the 4 Ps
Neil Borden popularized the idea of the marketing mix—and the concepts that would later be
known primarily as the four Ps—in the 1950s. Borden was an advertising professor at Harvard
University. His 1964 article titled "The Concept of the Marketing Mix" demonstrated the ways
that companies could use advertising tactics to engage their consumers. Decades later, the
4
concepts that Borden popularized are still being used by companies to advertise their goods and
services.
When they were first introduced, Borden's ideas were very influential in the business world and
were developed and refined over a number of years by other key players in the industry. It was
actually E. Jerome McCarthy, a marketing professor at Michigan State University, who refined
the concepts in Borden's book and created the idea of the "4 Ps," a term that is still used today. In
1960, McCarthy co-wrote the book "Basic Marketing: A Managerial Approach," further
popularizing the idea of the 4 Ps.
At the time the concept was first coined, the marketing mix helped companies account for the
physical barriers that prevented widespread product adoption. Today, the Internet has helped
businesses achieve a greater level of integration between businesses and consumers, and also to
overcome some of these barriers. People, process, and physical evidence are extensions of the
original 4 Ps, and are more relevant to the current trends in marketing.
How the Four Ps Work
Product
Product refers to a good or service that a company offers to customers. Ideally, a product should
fulfill an existing consumer demand. Or a product may be so compelling that consumers believe
they need to have it and it creates a new demand. To be successful, marketers need to understand
the life cycle of a product, and business executives need to have a plan for dealing with products
at every stage of their life cycle. The type of product also partially dictates how much businesses
can charge for it, where they should place it, and how they should promote it in the marketplace.
Many of the most successful products have been the first in their category. For example, Apple
was the first to create a touchscreen smartphone that could play music, browse the Internet, and
make phone calls. As of November 2018, Apple stopped providing public sales figures for the
iPhone. However, as of November 1, 2018, total sales of the iPhone equaled $2.2 billion. Apple
revealed that it had sold its one billionth iOS device on November 22, 2014. And in 2018, the
company announced they were approaching selling their two billionth iOS device.
5
CHAPTER – II
REVIEW OF LITERATURE
6
REVIEW OF LITERATURE
Neil Borden popularized the idea of the marketing mix—and the concepts that would later be
known primarily as the four Ps—in the 1950s. Borden was an advertising professor at Harvard
University. His 1964 article titled "The Concept of the Marketing Mix" demonstrated the ways
that companies could use advertising tactics to engage their consumers. Decades later, the
concepts that Borden popularized are still being used by companies to advertise their goods and
services.
When they were first introduced, Borden's ideas were very influential in the business world and
were developed and refined over a number of years by other key players in the industry. It was
actually E. Jerome McCarthy, a marketing professor at Michigan State University, who refined
the concepts in Borden's book and created the idea of the "4 Ps," a term that is still used today. In
1960, McCarthy co-wrote the book "Basic Marketing: A Managerial Approach," further
popularizing the idea of the 4 Ps.
At the time the concept was first coined, the marketing mix helped companies account for the
physical barriers that prevented widespread product adoption. Today, the Internet has helped
businesses achieve a greater level of integration between businesses and consumers, and also to
overcome some of these barriers. People, process, and physical evidence are extensions of the
original 4 Ps, and are more relevant to the current trends in marketing.
Borden (1965) claims to be the first to have used the term marketing mix and that it was
suggested to him by Culliton‘s (1948). McCarthy (1964) offered marketing mix, often referred to
as the 4Ps, as a means of translating marketing planning into practice (Bennett, 1997). Marketing
mix is originating from the single P (price) of microeconomic theory (Chong, 2003). Number of
researchers (eg. Grönroos, 1994; Constantinides, 2002; Goi, 2005; Möller, 2006) explores more
Ps instead of traditional 4Ps only currently applied in the market. However, the creation of new P
seem like unstop. New Ps were introduced into the marketing scene in order to face up into a
highly competitively charged environment (Low and Tan, 1995). Even, Möller (2006) presents
an up-to-date picture of the current standing in the debate around the Mix as marketing paradigm
and predominant marketing management tool by reviewing academic views from five marketing
management sub-disciplines (consumer marketing, relationship marketing, services marketing,
retail marketing and industrial marketing) and an emerging marketing (E-Commerce). The
concept of 4Ps has been criticised by number of studies. Popovic (2006) criticised 4Ps as being a
production-oriented definition of marketing, and not a customer-oriented. However, in spite of
its deficiencies, the 4Ps remain a staple of the marketing mix. The subsequent Ps have yet to
overcome a consensus about eligibility and agreement over the practical application (Kent and
Brown, 2006).
The purpose of segmentation is to identify customer/user groups that have as much similarity as
possible within group, but dissimilarity with other groups with respect to the relevant
characteristics. And deciding which group or groupsof customers/users the organization is
equipped to serve and can do so profitably. (Haksever, 2000)The selection of market
segmentation strategy is very important for marketing any product and services. Marketing
segmentation helps planning of other elements of marketing mix more meaning fully and
7
effectively. Identifying the customers and groups are on the basis of demographic,
socioeconomic, geographic, and psycho-graphic. Library as a non-business organization serves
many diverse groups. This is particularly determined by the type and objective of library. A
target market is broadly defined as a collective of individuals who have an interest in or concern
about an organization, a product or a social cause. (Adeyoyin, 2005).The organization/institution
should decide how to position its services in the minds of its current and potential
customer/users. It should be recalled that an organization develops a service strategy to
differentiate itself and its services from the competition. Positioning is a very important step in
service/product design and development. Positioning can be used for reemphasizing the position
of an old product or to move it to new position as well as new product In the 1960s, the
American marketeer, E. Jerome McCarthy, provided a framework by means of the marketing
mix( the 4 P‘s) the 4P ‗s includes Price, Promotion, Product and Place. According to McCarthy,
marketeers can draw up a good marketing plan and improve operating results visibly by using
the right combination and variables. the 4 P‘s are also known as the basic marketing mix.
Product- this ´P´ is called the ‗product mix‘.
This applies to both physical products and services. Sometimes the product is split up into
(Physical product, extensive product and total product), price is an important factor for both the
supplier and the consumer and is mainly determined by the proportional relationship between
supply and demand. the price can be adjusted quickly, as a result of which this marketing
instrument is frequently used. Promotion is all communication of a company that is aimed at
stimulating sales comes under promotion, place includes both the geographical location where
the product is offered and the type of distribution channel. Shopping centers are places where
commerce is dominant. Besides location, the place where the product can be found in the shop is
also a relevant factor, suppliers pay to have their products placed at eye-level in supermarkets, at
the outer ends of the aisles and at the cash register (bargains). Distribution can be divided into
direct and indirect distribution. Direct distribution means that the product is delivered directly
from the supplier to the end user (insurance companies, outlet stores and sales through the
Internet). Indirect distribution means that the product is sold to the end user by means of an
intermediary such as a wholesale or retail business. (Palmer .2004) defines marketing mix as a
conceptual framework that clarifies the main decisions managers‘ efforts in configuring their
offerings to suit consumers‘ needs for developing long-term strategies or short-term tactical
programs.
The business environment faced many changes since when, in 1953, Neil Borden for the first
time introduced the term ―marketing mix‖ in his speech at the American Marketing Association,
and since Jerome McCarthy (1964) defined the 4 Ps marketing mix as a combination of all the
factors which managers may leverage to satisfy market needs. Comprehending the roots of the
traditional marketing mix is crucial in order to understand the distinction between
―conservatives‖ and ―revisionists‖ proposed in this paper.
8
McCarthy‘s version, the marketing mix is composed of: product, price, place and promotion.
Each of these Ps comprise a number of the twelve managerial policies described by Borden
(1964), thus including other sub-mixes within each P. As noted by Kalyanam & McIntyre
(2002), the marketing mix is a collection of thousands of micro-elements clustered together in
order to simplify managerial activity. The validity or the exclusion of the traditional mix in the
digital context is a matter of if and how it is possible and convenient to extend the number of
elements it includes or to dismiss it and create a new one (Figure 1).
In the formulation of his twelve elements Borden (1964) pointed out that it is necessary to create:
«1) a list of the important elements or ingredients that make up marketing programs; 2) a list of
the forces that bear on the marketing operation of a firm and to which the marketing manager
must adjust in his search for a mix or program that can be successful».
McCarthy‘s marketing mix has been widely adopted through time by managers and academics,
becoming a key element of marketing theory and practice. This wide diffusion may be justified
on the basis of its simplicity of use and understanding which makes it a useful tool both for
marketing decisions and teaching. (Grönroos, 1994; Yudelson, 1999; Jobber, 2001). The concept
of marketing mix is considered in the Managerial School of Marketing (MSM) (Sheth et al.,
1988) as an operative tool to achieve marketing objectives, in particular as a formula for those
marketing factors that can be controlled by the enterprise in an uncontrollable competitive
environment (Varaldo, 1996).
As the MSM evolved through various stages in time, from the marketing concept of the 1970‘s,
through the introduction of Total Quality Management in the 1980‘s (Yudelson, 1999), and
relationship marketing in the 1990‘s, to today‘s adaptation to the digital context, the marketing
mix has always been matter of discussion, both between managers and academics.
There is no doubt that the changes in the social and economic environment, and the consequent
transformation of the competitive arena, have a strong impact on the marketing mix. The digital
context, in particular, is where the original version of marketing mix shows major limitations.
The interaction with the customer and the communication capabilities of Internet were
unimaginable in the 1960‘s. The 4 Ps were created for a manufacturer context. Nevertheless the
adaptive capability of the 4Ps allow their application in competitive contexts that are
significantly different from those for which they were created. The question which this paper
aims to underscore is: ―Is it possible to create a new list of elements that can adequately modify
the traditional mix to fit in new digital contexts?‖.
9
CHAPTER - III
RESEARCH METHODOLOGY
10
NEED OF THE STUDY
The 4Ps of marketing is a model for enhancing the components of your "marketing mix" – the
way in which you take a new product or service to market. It helps you to define your marketing
options in terms of price, product, promotion, and place so that your offering meets a specific
customer need or demand .
OBJECTIVES OF THE STUDY
The four Ps of marketing are:
 Product: What you sell. Could be a physical good, services, consulting, etc.
 Price: How much do you charge and how does that impact how your customers view your
brand
 Place: Where do you promote your product or service? Where do your ideal customers go to
find information about your industry
 Promotion: How do your customers find out about you? What strategies do you use, and are
they effective
RESEARCH METHODOLOGY
The method of sampling used was random sampling. The main aim of the study was to cover
employee‘s at all hierarchical levels. Therefore, a sample of respondents was chosen at each
level of hierarchy in all the departments and services. The sample size was taken as 50. The
respondents were from 4 categories as Scientific Staff, Technical Staff, Administrators, and
Supporting Staff.
Respondents
Employee Details Supporting Technical Scientific
Administrators
Staff Staff Staff
Total No. of.
700 100 105 100
Employees
Sample No. of.
20 10 10 10
Employees
Sample selection is random from all the 4 categories.
DATA COLLECTION:
Data is recorded measure of phenomena. While deciding about the method of data collection, the
researcher should keep in the mind about two types of data. They are, Primary Data and
Secondary Data.
PRIMARY DATA:
The primary data has been collected through Questionnaire. The Questionnaire has been properly
prepared in order to cover all the information required for the study. This Primary data was also
11
collected through personal interview and interaction with the officials and staff in the
organization.
SECONDARY DATA:
Secondary data has been collected through the annual reports of the organization & from the
manuals. Some data was collected from the website of the organization (www.hul.com) and
(www.who.com).
The data was also collected from various publications in the magazines like HRM Review, HRD,
sap, people soft , oracle hr payroll process and policy‘s and journal like Indian Journal of
Industrial Relations and the various articles published in them.
COMPANY ADDRESS
Address:- B-108, Sector-05, Noida, Uttar Pradesh 201301
SCOPE OF THE STUDY

 The four Ps are the four essential factors involved in marketing a good or service to the
public.
 These are the four Ps: the product (the good or service); the price (what the consumer
pays); the place (the location where a product is marketed); and promotion (the
advertising).
 The concept of the four Ps has been around since the 1950s; as the marketing industry has
evolved, the concepts of people, process, and physical evidence have become important
components of marketing a product, too.
LIMITATIONS OF THE STUDY

 Person-level, behavioral data
 Insights into cross-channel marketing impact (how one channel impacts the media
mix or vice versa)
 The impact brand authority has on marketing spend and campaign optimization
 Proper marketing attribution on individual media effectiveness
 The impact of creative messaging across channels
 Key times to send marketing messages
12
CHAPTER – IV
THEORETICAL FRAME WORK
13
THEORETICAL FRAME WORK
Marketing trends can help any organization determine where the organization has been, where
it is now, and where it will be in the future. With any analysis, it is important to understand all
the factors that make up these trends. It is necessary for the organization to establish clear
goals to accomplish them. They need to anticipate, identify, and satisfy all the requirements of
their potential customers all while ensuring profitability for the organization. Organizations
have to have an open mind to new trends and innovations that will enhance their potential
future.
PAST
Sometimes we may think that the past is the past. Nevertheless, the past is where everything
began. They found a way to make things work even with the limited tools that they had. Past
marketing concepts were generally to make a product that would influence the bottom line of
the organization. Most organizations only had a few avenues to get their products ready and
available for the target markets. Radio spot advertisements were used which did very well for
that time and era of the marketing world.
Television advertisements were another key element of marketing strategy. We would see
advertisements plugged into commercials during highlight time of football season. These are
still used quite often today. If you look at the deep past, you will find that many organizations
only had word of mouth to spread how good a product or service was. Marketing strategies
have a history that dates back to as early as the mid 1400‘s with printed advertising utilizing
moveable type. Though strategic marketing practices have evolved quite a bit since then, there
are several trends that are still prevalent in today‘s society. Some of the most relevant trends in
marketing in the ―Pre-Digital Age‖ included:
 Basic Printed Works (like flyers, newspapers, posters, phonebooks, etc.)

 Billboards
 Radio Advertisements
 Telemarketing
 Early Television Advertisements
During the Digital Age new technologies such as rudimentary mobile phones, first generation
computers, and user friendly printers were emerging. There is a direct correlation in the type of
technology available and the forum in which marketing is best communicated. The top marketing
trends in the Digital Age included:
 Expanded Print Advertising

 Expanded use of Television Advertisements
 Introduction of Spam Emails
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The Dotcom Bubble occurred roughly from 1995-2002. This era is centered around the internet,
search engines, and mobile device improvements. Some marketing trends during this time
included:
 Early Search Engine Optimization Improvements

 AdWords and PageRank
 Early Blogging
PRESENT
Today, marketers have quite a bit of technology to enhance the marketing value of their
products and services. We still have word of mouth, radio, and television advertisements.
These have done very well for the marketing world in the past. Now, marketers have a
technological revolution that enhances the way they market. The internet has become a
revolution in the marketing world. We now have social Medias that advertise products and
services all hours of the day. Today‘s market has become so strong in ways that we would
never have imagined.
The marketing present in today‘s society is a combination of previous trends that have been
improved upon, such as TV ads and print, with new strategies focused on inbound practices.
Some of the most common marketing tactics utilized today are:
 Social Media Marketing

 Retargeting Campaigns
 Text Message Advertisements
 Targeted Emails
 Internet Video Advertisments
FUTURE
Technology is changing every day. It is growing at a pace that many of us have not caught up
with yet. Every day, new and innovative ideas are being developed that changes the way we do
business. Think about how Facebook, Twitter, and other Medias have changed the face of the
internet. Who knows, soon every household may have virtual media that allows them to
inte*ract with the marketing world. We can take the past and the present trends in marketing
and put them together in a way that shoots our marketing styles through the roof. We can learn
so much from past trends, the good and the bad, to ensure that future trends remain strong and
true. Therefore, yes the next generation will have a better stronger marketing tool that will
blow the past and the preset out of the water. Technology is changing so fast it is sometimes
hard to keep up with it. However, all we have to do is catch the train and go along for the ride.
15
Though no one truly knows what new exciting marketing trends are waiting just around the
corner, based on what we have seen work in the past we can get a general idea of what to expect
so that we are prepared. We can conclude that as technology becomes increasingly available to
the general public, that people are more receptive to marketing tactics when the material is
formatted directly for them. In an age where nearly everything is customized for the user,
marketing should be no different. This trend is already prevalent in inbound marketing efforts
where a targeted audience is established and then a strategy is formulated specifically for that
group of individuals. I would imagine that this trend would continue to grow as technology and
easy access to products and services increases. Additionally, it‘s safe to say that many of the
rudimentary marketing practices could fizzle out. Items such as AM/FM radio advertisements,
cable TV advertisements, and telemarketing will continue to decrease in effectiveness as forum
alternatives continue to become commonplace.
By understanding what the past, present, and (potential) future marketing strategies may be you
can rest easy knowing that your marketing team is fully informed of what methods are available
for you to use. By formulating a marketing strategy that keeps up with the ever-changing scope
of today‘s society, your business is set up for success. If you are interested in assistance putting
in place your own marketing strategy, feel free to reach out to us!
The first resulting advance in strategic thinking was to recognize more clearly the differences
between ‗corporate‘, ‗business‘, and ‗functional‘ strategies. Business-level strategies were
increasingly needed not just at divisional levels, but for strategic business units (SBUs)
within larger divisions. The second, and related advance came in new thinking about how
to define these divisions and subdivisions in a way that best separated activities in separate
competitive strategic arenas.
As surprising as it seems today some companies up to that time were subdividing divisions
based on simple size criteria, arguing, for example, that once a division exceeded 100
million dollars in sales volume, the division should be split into two! New thinking about
business definition resulted sensibly in some business units being split out from others with
only 20 million dollars of sales, while others, based on arguments of strategic integrity, had
sales of over a billion dollars. The underlying logic was not size per se, but whether the unit
competed in a strategically well-defined market place.
The third advance was to think of products within a business unit, and at a higher level,
business units within a divisional or corporate structure, as parts of a financial portfolio. This
occurred for two distinct reasons:
The first was that many diversified companies were nudging up against debt ceilings which
were viewed by lenders as overly risky. When debt to equity ratios were still below 30%, most
companies could go down to their bank 24/7/365 to get loans to fund any projects which were
predicted to exceed their cut-off hurdle rates of return. Each business in a division, and each
division in a company could be regarded as a ‗tub on its own bottom‘. Whatever it earned could
be used to finance its own growth, and if funds were in short supply, the bank was a ready
16
lender. But as debt to equity levels started to hit higher levels, and banks were shy of more
lending, the only way to fund growth was with internal funds. Cash rich businesses and
divisions had to be turned to fund the investments needed to grow the cash-poor ones.
The idea of the ‗product portfolio‘ was born. Developed particularly by the consulting firm
Boston Consulting Group (BCG), the language of ‗cash cows‘, ‗stars‘, ‗question marks‘, and
‗dogs‘ became common strategic parlance. BCG had been working in parallel on empirical
research to understand the phenomena of experience curves, and these concepts were used to
construct matrices which portrayed the cash flow consequences of various combinations of
industry growth rates and relative market shares.
For once, theory overtook practice as empirical findings demonstrated that high growth—
high share businesses typically could turn into cash cows as industry growth slowed, and
these funds could be used to drive up share in growth businesses for the future. Failure to
invest in growth at the right time could result in the reverse: Instead of question marks
becoming stars, they could slide down to unprofitable dog status when growth slowed. In the
late 1960s, another important piece of original theoretical/empirical research (as opposed to
the continuing efforts to conceptualize practice) revealed yet new strategic insight. Dubbed
the ‗PIMS‘ project (Profit Impact of Market Strategy) by its originators at the General
Electric Company, PIMS set out to understand some of the most elusive strategic questions of
this time.
Why, asked then GE CEO Fred Borch, did some GE businesses (like steam turbine
generators) yield very modest returns of around only 3-4%, while others (like engineered
plastics) regularly turned in results of more than 20%. Borch had several hypotheses, of which
one was that market share was a key driver of profitability and cash flow. He turned to a
professor from the University of Massachusetts at Amherst, Dr. Sidney Schoeffler, to search
for answers. Data was collected on a wide array of GE businesses over several years and fed
into a large regression equation with 35 independent variables and one dependent
variable—cash flow.
Lo and behold, Borch‘s intuitive hypothesis about market share was borne out, along with a
much deeper understanding of the underlying business and competitive factors affecting cash
flow. From this, the strategic concept of a ‗PAR‘ (as in golf) cash flow for various types of
business and competitive situation, was born. For the first time, GE was able to set quite
different financial objectives for each business based on the PAR, and incentive schemes
followed. In fact, the PIMS project grew and multiplied to eventually include not just GE, but
some 200 of the Fortune 500 firms, with data spanning 10 years of company history.
This was perhaps the first time that ‗science‘ was applied to business strategy with clear
indications coming out of the empirically established relationships between different strategic
variables and cash flow performance.
17
Predictably, risk was one of these factors, and risk/return issues, which had been well
documented at the overall corporate level in financial markets, started to appear on the strategic
radar screens of individual business units. As we shall see later in this article, that is very much
a subject for strategic thinking today, and most likely will continue to be in the future. From the
author‘s memory, it was Sid Schoeffler who coined the term ‗market strategy‘, making a
clear distinction between this and marketing strategy, which was concerned principally with
the 4 Ps. Market strategy in Schoeffler‘s view was a complete business strategy for a
particular market or market segment—a much broader concept.
This paved the way for a better understanding of the relationship between corporate strategy,
business unit ‗market‘ strategy, and functional strategies. In any case, personal contact
with Sid Schoeffler and his PIMS thinking deeply influenced this author‘s thinking on the
subject of strategy. One result was second-year course at the Harvard Business School and later a
book, with the title ‗Strategic Market Planning‘ We must deviate here for a moment to turn to the
evolution of strategic planning processes—which was proceeding in parallel with what we
have described about strategy itself and the changing organizational structures in which
strategy was formulated and implemented.
Decentralization had sparked the need for improved processes to join top-down objective
setting with bottom-up detailed planning, and various processes were in use and being
conceptualized to link the bottom-up and top-down in complementary and constructive ways.
Most large companies had settled for a process that resulted in a complete and detailed
strategic plan and budget for each separate business. The problem was to overlay this
detail business-by-business approach with the growing perceived need to define some
businesses as cash producers and others as cash users.
Many times plans that ran into a hundred pages or more with detailed budgets, had to
be completely reworked as other plans were submitted and surpluses and deficits became
evident. Strategic planning needed to be streamlined and less bureaucratic. This time,
practice led theory. Some companies, and Nestlé under the leadership of Helmut Maucher was
one, drastically simplified their planning processes in the early 1970s, to focus on key strategic
issues—ahead of making detailed plans. Usually this involved face-to-face discussions
between business heads and corporate leadership, so that the broad strategic issues
confronting each business could be identified and objectives set, ahead of detailed plans
and budgets being worked out.
This attempt to get to the heart of the strategic issues facing each particular business in the
corporate portfolio triggered further process changes. Strategic planning moved increasingly
from staff to line, becoming a principal preoccupation of business level general
management—albeit backed up by staff support. In many corporations, large strategic
planning staffs were drastically reduced in scale as a result. It is worth noting here that
18
other corporate staff activities including HR, and now CSR (Corporate Social
Responsibility) are headed the same way.
They are becoming a key responsibility of line general management, and staff activities are
being redefined to support this. Further streamlining of strategic processes has taken place in
many companies, and continues right up to the present. One is the ‗collapsing‘ of what were
separate processes for marketing planning, strategic planning, financial planning and
budgeting, into a single integrated strategic process. And there is increasing recognition
that in such an integrated process, ‗vision‘ must come ahead of strategy, strategy ahead of
plans, and plans ahead of budgets.S
19
CHAPTER – V
COMPANY PROFILE
20
COMPANY PROFILE
HIGH QUALITY
HOME FURNISHING ITEMS
SPECIALLY IN QUILTED PRODUCTS.
With a rich history of 10 years, Today we have evolved into a company of international standing.
Its mission is not to manufacture and design textiles but to sell a lifestyle, a vision, a dream.
BEDDING
Our complete product range is manufactured from superior quality yarn and other allied material.
The high quality raw material used for the fabrication is sourced from the reliable and certified
vendors of the industry. Our product range is available in different and vibrant colors and rich
colors to enhance the decor of the room.
CURTAINS
Our complete product range is offered in varied captivating prints, embroideries and embosses.
We using best quality raw material with the help of our modern machinery. Our product range is
known for its color fastness, light fastness and durability and also for its high quality standards
and longevity.
CUSHIONS
Our product range is available in various sizes, numerous colors and stylish designs. Our product
range is Printed, Decorative & Designer Cushions. Offered products are fabricated from very
soft, skin-friendly and comfortable material that is sourced from the reliable and certified
vendors of the industry.
HISTORY
Incepted in the year 2004 at Noida (Uttar Pradesh, India), we ―Narayan Overseas‖ are an ISO
9001:2008 certified company. We are the foremost manufacturer, exporter and supplier of Home
Furnishing Items like Quilted Products. In our product array, we provide our clients high
quality assortment of Quilts, Comforter, Bed Cover, Curtains & Decorative Cushions. Our
high quality product range makes us competent to work with the leading brands in Europe, USA
and all over the globe directly as well as through buying agencies.
CLIENTELE
Today Narayan Overseas is working with the leading brands in Europe, USA and all over the
globe directly as well as through buying agencies. The leading buyers that we are working today
are
21
TEAM
Team recruited by us is the backbone of our organization. Our professionals play the most
significant role in the success and development of our organization. We have recruited a highly
experienced team of professionals, who are creative and talented in designing of these products.
They assist us in providing quality-assured products and also ensure the timely delivery at the
client‘s end. In order to keep our professionals updated with latest industry trends, we organize
workshops and seminars at our premises.
INFRASTUCTURE
We have constructed our state-of-the-art infrastructure over a wide area of

1000mtr/sq+800mtr/sq. Our widespread infrastructural facility assist us in meeting the
diversified requirements of our clients in the most efficient and economical manner. Entire
processes of procuring, designing, manufacturing, quality-testing, or supplying the finished
products are carried out systematically and smoothly in this facility. All the required ultra-
modern machines and advanced technology is installed at our production unit that empowers us
to design an alluring collection at rapid production rate.
MISSION N VISION
Our mission is to deliver high quality, affordable healthcare services to the broader population in
India. Our core values are represented by the acronym "iCare", which encompasses innovation
and efficiency, Compassionate care, Accountability, Respect for all, and Excellence as a culture.
At the same time, we seek to generate a strong financial performance and deliver long-term value
to our shareholders through the execution of our business strategy.
22
CHAPTER - VI
DATA ANALYSIS AND
INTERPRETATION
23
DEMOGRAPHIC PROFILE OF THE RESPONDENTS
1. AGE GROUP OF THE RESPONDENT
S.NO AGE No. Of respondent Percentage

1 15-24 22 15
2 25-34 38 25
3 35-44 60 40
4 Above 45 30 20
Total 150 100
INTERPRETATION
From the above table it is inferred that 40% of the respondents age group is 35-44, 25% of the
respondents are in the age group is 25- 34, 20% of the respondents are in the age group above
45 and 15% of the respondents are in the age group of 15 -24.
AGE GROUP OF THE RESPONDENTS
AGE
20% 15%
15-24
25-34
25%
35-44
40% Above 45
24
2. GENDER OF THE RESPONDENT
S.NO Gender No. Of respondent Percentage

1 Male 100 33
2 Female 50 67
3 Total 150 100
INTERPRETATION:
From the above table it is inferred that 67% of the respondents are male and 33 %of the
respondents are female.
GENDER OF THE RESPONDENT
100
90
80
70
60
YES/NO
50
Yes
40
30
20
10
0
25
3. EDUCATION QUALIFICATION OF RESPONDENTS
S.NO Educational No. of respondent Percentage

qualification
1 SSLC 38 25
2 Hsc 32 21
3 Graduate 37 25
4 Diploma 20 13
5 Other specify 23 16
Total 150 100
INTERPRETATION
From the above table it is inferred that 25 % of the respondents completed SSLC & Graduation
respectively, 21% of the respondents completed HSC,13 % of the respondents completed
diploma and 16 %the respondents completed technical courses.
EDUCATION QUALIFICATION OF RESPONDENTS
120
100
80
60
40
20
0
YES/NO Yes No Total
26
4. MARITAL STATUS OF RESPONDENTS
S.NO Marital status No. Of Respondent Percentage

1 Married 120 80
2 Un married 30 20
3 Total 150 100
INTERPRETATION
from the above table it is infered that 80%of respondents are married and 20 % of respondents
are unmarried.
MARITAL STATUS OF RESPONDENTS
140
120
100
80
Married
60 Un married
40
20
0
No. Of Respondent Percentage
27
5. Does your brand clearly communicate what you are about and convey the highest value you
deliver?
S.NO YES/NO No. Of respondent Percentage

1 YES 85 90
2 NO 15 10
3 Total 100 100
INTERPRETATION:
From the above table it is inferred that 85% of the respondents are Yes and 15 %of the
respondents are No.
100
90
80
70
60
50 YES
40 NO
30
20
10
0
No. Of respondent Percentage
28
6. Is your brand promise well understood and consistently executed at all levels of your
organization?

1 YES 90 90
2 NO 10 10
3 Total 100 100
INTERPRETATION:
respondents are No.
100
90
80
70
60
50 YES
40 NO
30
20
10
0
29
7. Is your brand identity being properly used in all media?

1 YES 70 70
2 NO 30 30
3 Total 100 100
INTERPRETATION:
respondents are No.
80
70
60
50
40 YES
NO
30
20
10
0
30
8. Do you understand the factors buyers consider when selecting your product or service and are
you focusing your marketing campaigns on those factors?

1 YES 60 60
2 NO 40 40
3 Total 100 100
INTERPRETATION:
respondents are No.
70
60
50
40
YES
30 NO
20
10
0
31
9. Do you know your most profitable customers and are you targeting prospects that look just
like your best customers?

1 YES 70 70
2 NO 30 30
3 Total 100 100
INTERPRETATION:
respondents are No.
80
70
60
50
40 YES
NO
30
20
10
0
32
10. Do you know which marketing tactics are generating the best results – leads, conversions, or
sales – at the lowest cost?

1 YES 85 85
2 NO 15 15
3 Total 100 100
INTERPRETATION:
respondents are No.
90
80
70
60
50
YES
40
NO
30
20
10
0
33
11. Do you need new tools to educate prospects about your industry or product?

1 YES 80 80
2 NO 20 20
3 Total 100 100
INTERPRETATION:
respondents are No.
90
80
70
60
50
YES
40
NO
30
20
10
0
34
12. Are your sales tools integrated with your brand and your marketing campaigns?

1 YES 50 50
2 NO 50 50
3 Total 100 100
INTERPRETATION:
respondents are No.
60
50
40
30 YES
NO
20
10
0
35
13. Are you actively upselling and cross-selling products and services to your current customers?

1 YES 40 40
2 NO 60 60
3 Total 100 100
INTERPRETATION:
respondents are No.
70
60
50
40
YES
30 NO
20
10
0
36
14. Do you have three to five key marketing messages that you‘re consistently delivering in all
media?

1 YES 55 55
2 NO 45 45
3 Total 100 100
INTERPRETATION:
respondents are No.
60
50
40
30 YES
NO
20
10
0
37
CHAPTER - VII
RESEARCH FINDINGS &
SUGGESTIONS
38
RESEARCH FINDINGS
 From the above table it is inferred that 85% of the respondents are Yes and 15 %of the
respondents are No.
respondents are No.
respondents are No.
respondents are No.
respondents are No.
respondents are No.
respondents are No.
respondents are No.
respondents are No.
39
SUGGESTIONS
Library and information professionals are grasping a marketing approach, as it is an essential
weapon in the competition age. With the entry of business organizations inthe information
market, libraries are facing serious competition from the profit-making information
industry,which has seen the potential of an ever-increasing information service. Libraries can
improve their situation by promoting themselves with the same marketing and advertising
techniques used by successful business organization. Marketing of information is not just
disseminating information, it includes the optimum use of resources of the library. The library
can be called information market and the library user is a consumer of information. Information
is a vital resource for national development. Increasing realization of the role of information has
resulted in the establishment of information systems to provide a variety of information services
and products. It is an essential step in the planning, designing, and use of such services and
products for optimal use of information.
Library acquisition, organization and dissemination must be based on the modern concept of
marketing to achieve reader satisfaction. It must endeavor to nurture culture of customer service
to enhance its image in the eyes of the users. Adoption of marketing approach thatwill help
libraries not only in their own sustenance, but also in the sustenance and self and self sufficiency
of their information products/services.
40
CHAPTER -VIII
SUGGESTIONS &
RECOMMENDATIONS
41
SUGGESTIONS & RECOMMENDATIONS
Library and information professionals are grasping a marketing approach, as it is an essential

weapon in the competition age. With the entry of business organizations inthe information
market, libraries are facing serious competition from the profit-making information
industry,which has seen the potential of an ever-increasing information service. Libraries can
improve their situation by promoting themselves with the same marketing and advertising
techniques used by successful business organization. Marketing of information is not just
disseminating information, it includes the optimum use of resources of the library. The library
can be called information market and the library user is a consumer of information. Information
is a vital resource for national development. Increasing realization of the role of information has
resulted in the establishment of information systems to provide a variety of information services
and products. It is an essential step in the planning, designing, and use of such services and
products for optimal use of information.
Library acquisition, organization and dissemination must be based on the modern concept of
marketing to achieve reader satisfaction. It must endeavor to nurture culture of customer service
to enhance its image in the eyes of the users. Adoption of marketing approach thatwill help
libraries not only in their own sustenance, but also in the sustenance and self and self sufficiency
of their information products/services.
42
BIBLIOGRAPHY
43
BIBILIOGRAPHY
1. McCarthy, Jerome E. (1964). Basic Marketing. A Managerial Approach. Homewood, IL: Irwin.
2. ^ Jump up to:a b Kotler, P., Marketing Management, (Millennium Edition), Custom Edition for
University of Phoenix, Prentice Hall, 2000, p. 9.
3. ^ Grönroos, Christian. "From marketing mix to relationship marketing: towards a paradigm shift
in marketing." Management decision 32.2 (1994): 4-20.
4. ^ Booms, Bernard H.; Bitner, Mary Jo (1981). "Marketing Strategies and Organization Structures
for Service Firms". Marketing of Services. American Marketing Association: 47–51.
5. ^ Jump up to:a b Kotler, Philip (2012). Marketing Management. Pearson Education. p. 25.
6. ^ Jump up to:a b c d Needham, Dave (1996). Business for Higher Awards. Oxford, England:
Heinemann.
7. ^ Jump up to:a b Rodríguez, Ismael; Rabanal, Pablo; Rubio, Fernando (2017). "How to make a
best-seller: Optimal product design problems". Applied Soft Computing. 55 (June 2017): 178–
196. doi:10.1016/j.asoc.2017.01.036. ISSN 1568-4946.
8. ^ Mintz, Ofer; Currim, Imran (2013). "What Drives Managerial Use of Marketing and Financial
Metrics and Does Metric Use Affect Performance of Marketing-Mix Activities?". Journal of
Marketing. 77 (2): 17. doi:10.1509/jm.11.0463.
9. ^ Groucutt, J. and Leadley, p., Marketing: Essential Principles, New
Realities,https://books.google.com/books?id=cd6Sjxu2lesC&pg=PA17, Kogan Page,
2004 ISBN 978-0-7494-4114-2, p.17.
10. ^ Hunt, S.F. and Goolsby, J., "The Rise and Fall of the Functional Approach to Marketing: A
Paradigm Displacement Perspective," (originally published in 1988), reprinted in: Review of
Marketing Research: Special Issue - Marketing Legends, Vol. 1, Naresh K. Malhotra, (ed),
Bingley, UK, Emerald, 2011
Kotler, P. and Keller, K.L (2006) Marketing Management. NewYork, Pearson Education.9.
Lovelock, C. and Wright, L. (1999) Principles of ServiceMarketing and Management. New
Jersey, Prentice Hall.10. Morgan, Eric Lease (1998) ―Marketing library services‖.Computers in
Libraries, 18:8. 50-51.11. Morgan, P. & Noble, S.(1992) ―Marketing library andinformation
services in the ‘90s‖. Australian Library Journal,41 : 4. 283-293.12. Naisbitt, J. (1982)
Megatrends: Ten New DirectionsTransforming Our Lives. New York, Warner Books.13.
Saracevic, T. and Wood, J.B. (1981) Consolidation ofInformation: A Handbook on Evaluation,
Restructuring andRepackaging of Scientific and Technical Information. Paris,UNESCO14.
Seetharama, S.(1990) Guidelines for Planning of Libraries andInformation Centres. Calcutta,
IASLIC15. Tanui, T.A. and Kitoi, A.S.(1993) ―Why marketing? Theexperience of Moi
University Library Kenya‖. LibraryManagement, 14:4. 43-48.16. Weingand, D.E. (1995)
―Preparing for the new millennium: thecase for using marketing strategies‖. Library Trends, 43 :
3.295-31717. Zeithaml, V.A and Bitner, M.J (2000) Services Marketing.Boston: McGraw Hill.
44
QUESTIONNAIRE
45
QUESTIONNAIRE
1. Name :
2. Age group :15-24 25-34 35-44 45-54 above54
3. Gender : Male Female
4. Education qualification : SSLC HSC Graduate Diploma
Other specify
5. Marital status : Married Unmarried
6. Does your brand clearly communicate what you are about and convey the highest value you
deliver?
Yes No
7. Is your brand promise well understood and consistently executed at all levels of your
organization?
Yes No
8. Is your brand identity being properly used in all media?
Yes No
9. Do you understand the factors buyers consider when selecting your product or service and are
you focusing your marketing campaigns on those factors?
Yes No
10. Do you know your most profitable customers and are you targeting prospects that look just
like your best customers?
Yes No
11. Do you know which marketing tactics are generating the best results – leads, conversions, or
sales – at the lowest cost?
Yes No
12. Do you need new tools to educate prospects about your industry or product?
46
Yes No
13. Are your sales tools integrated with your brand and your marketing campaigns?
Yes No
14. Are you actively upselling and cross-selling products and services to your current customers?
Yes No
15. Do you have three to five key marketing messages that you‘re consistently delivering in all
media?
Yes No
47

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CHAPTER - I

Marketing a service-base business is different from marketing a product-base business. Services

What Are the 4 Ps?

How the Four Ps Work

SCOPE OF THE STUDY

LIMITATIONS OF THE STUDY

 Basic Printed Works (like flyers, newspapers, posters, phonebooks, etc.)

 Expanded Print Advertising

 Early Search Engine Optimization Improvements

 Social Media Marketing

We have constructed our state-of-the-art infrastructure over a wide area of

1. AGE GROUP OF THE RESPONDENT

S.NO AGE No. Of respondent Percentage

AGE GROUP OF THE RESPONDENTS

S.NO Gender No. Of respondent Percentage

GENDER OF THE RESPONDENT

S.NO Educational No. of respondent Percentage

EDUCATION QUALIFICATION OF RESPONDENTS

S.NO Marital status No. Of Respondent Percentage

MARITAL STATUS OF RESPONDENTS

S.NO YES/NO No. Of respondent Percentage

S.NO YES/NO No. Of respondent Percentage

S.NO YES/NO No. Of respondent Percentage

S.NO YES/NO No. Of respondent Percentage

S.NO YES/NO No. Of respondent Percentage

S.NO YES/NO No. Of respondent Percentage

S.NO YES/NO No. Of respondent Percentage

S.NO YES/NO No. Of respondent Percentage

S.NO YES/NO No. Of respondent Percentage

S.NO YES/NO No. Of respondent Percentage

Library and information professionals are grasping a marketing approach, as it is an essential

2. Age group :15-24 25-34 35-44 45-54 above54

3. Gender : Male Female

4. Education qualification : SSLC HSC Graduate Diploma

5. Marital status : Married Unmarried

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