SBI
Introduction
1.1MARKETING MANAGEMENT:
Marketing is merely a civilized form of warfare in which most battles are won with wisdom, ideas and discipline thinking. Marketing is a restless changing dynamic field. It is defined as A set of human activities directed at satisfying needs and wants of customers through exchange process. Marketing is so basic that it cannot be considered a separate function. It is whole business run from the point view o its final result that is from the customers point of view. Business success is not determined by the procedure but by the customer.
PETER F DRUCKUER
Marketing management is defined as a social & managerial process by which individuals and group obtains what they need and want through creating offering and exchanging products of value with other.-PHILLIP KOTLER Marketing is a total system of business designed to plan, price, promote and distribute want satisfying product to target markets to achieve organizational objectives.- WILLIAM J STANTON, MICHAEL J ETZEL & BRUCE JWALKER.
CONCEPT OF MARKETING MANAGEMENT:
Coping with exchange process calls for a considerable amount of work and skill marketing management takes place when at least one party to potential exchange gives thought to objectives. The process involves planning implementation and control that it covers ideas goods & services that it results in the motion of exchange and the goal is to produce satisfaction for the parties involved. Marketing work the customer work is organization need certain information in order to be able to satisfy their customer wants and needs effective marketing programs while earning a profit. Five such information topics great interest to the marketing mangers they are; 1. Target markets: What is the best market for the product or services being offered by the organization? How large is the target market and how can be described? What are the attitudes opinions preference life style and so on its members. 2. Products/Services: Regarding particulars products/Services how satisfied or dissatisfied is the target market with what currently is available? What products features and benefits do the consumers describe? How do they compare organization products with those offered by competition? When to introduce a new products/services. 3. Price: How much value this target market offer on the product in question? What product are they willing to substitute for the product in question? What advantages in future benefits does the organization product might allow it to change to a higher price. 4. Distribution: What distribution channel is the target market most likely to use, while purchasing the product in question? Is the organization pricing in the line with what target
M.S. RAMAIAH COLLEGE OF ARTS SCIENCE AND COMMERCE
SBI market except to pay for the product when purchase through the channel? Will the channel able to provide support or service for the product? 5. Promotion: What can the organization way in it advertisements about the product that will able to target market and read them to consider the organization product more attractive then those offered by the competitors?
Through what media should the organization advertise hoe often should the advertisement appear and how much money should the organization spend on advertising? Should personal selling should be used how? What kinds of promotion have a favourable effect on the target market? Marketing manager in most organization need answer to some of these entire questions. Obtaining answers to many these questions requires from their final consumer and the information they need consumer and other organization are increasingly tuning to marketing research to obtain the information they needed for decision marketing. The American association define as follows marketing research is the function which links the consumers, customers and define market opportunities and problems, generates, redefine evaluate market action, monitoring, marketing performance and improve understanding marketing as the process. Marketing research define as the systematic design collection analysis and reporting of data and finding relevant to a specific marketing situation face by the company.
-PHILLIP KOTLER Marketing is growing day by day and widely used activity, several characteristics of modern business encouragement the use of marketing research by the business.Marketing programs while earning a profit. Five such information topics great interest to the marketing managers they are: 1. Target markets: What is the best market for the product or services being offered by the organization? How large is the target market and how can be described? What are the attitudes opinions preference life style and so on its members. 2. Products/Services: Regarding particulars products/Services how satisfied or dissatisfied is the target market with what currently is available? What products features and benefits do the consumers describe? How do they compare organization products with those offered by competition? When to introduce a new products/services. 3. Price: How much value this target market offer on the product in question? What product are they willing to substitute for the product in question? What advantages in future benefits does the organization product might allow it to change to a higher price. 4. Distribution: What distribution channel is the target market most likely to use, while purchasing the product in question? Is the organization pricing in the line with what target market except to pay for the product when purchase through the channel? Will the channel able to provide support or service for the product?
M.S. RAMAIAH COLLEGE OF ARTS SCIENCE AND COMMERCE
SBI 5. Promotion: What can the organization way in it advertisements about the product that will able to target market and read them to consider the organization product more attractive then those offered by the competitors? Through what media should the organization advertise hoe often should the advertisement appear and how much money should the organization spend on advertising? Should personal selling should be used how? What kinds of promotion have a favourable effect on the target market? Marketing manager in most organization need answer to some of these entire questions. Obtaining answers to many these questions requires from their final consumer and the information they need consumer and other organization are increasingly tuning to marketing research to obtain the information they needed for decision marketing.
M.S. RAMAIAH COLLEGE OF ARTS SCIENCE AND COMMERCE
