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what is marketing?

What is marketing? There are many different definitions of marketing. Consider some of the following alternative definitions: “The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time” “The achievement of corporate goals through meeting and exceeding customer needs better than the competition” “The management process that identifies, requirements efficiently and profitably” anticipates and supplies customer

“Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges” Which definition is right? In short, they all are. They all try to embody the essence of marketing: • Marketing is about meeting the needs and wants of customers; • Marketing is a business-wide function – it is not something that operates alone from other business activities; • Marketing is about understanding customers and finding ways to provide products or services which customers demand To help put things into context, you may find it helpful to often refer to the following diagram which summarises the key elements of marketing and their relationships:

HRM helps in attaining maximum individual development. creative abilities. Human Resource Management: Defined Human Resource Management has come to be recognized as an inherent part of management. which is concerned with the human resources of an organization. The various features of HRM include: • It is pervasive in nature as it is present in all enterprises. whereas from the viewpoint of the individualenterprise. human resources may be defined as the knowledge. It is the recruitment. • It tries to build and maintain cordial relations between people working at various levels in the organization. • It tries to put people on assigned jobs in order to produce good results. From the national point of view. • It helps an organization meet its goals in the future by providing for competent and well-motivated employees. employees and employees. Human Resource Management: Evolution The early part of the century saw a concern for improved efficiency through careful design of work. . utilization.Human resources may be defined as the total knowledge. development. It is an integral but distinctive part of management. • Its focus is on results rather than on rules. as well as the values. development and empowerment. Human Resource Management: Nature Human Resource Management is a process of bringing people and organizations together so that the goals of each are met. creative abilities. talents and aptitudes obtained in the population. they represent the total of the inherent abilities. acquired knowledge and skills as exemplified in the talents and aptitudes of its employees. skills. talents and aptitudes of an organization's workforce. HRM is concerned with getting better results with the collaboration of people. Recent decades have focused on increased concern for the quality of working life. The human resources are multidimensional in nature. It is the sum total or aggregate of inherent abilities. procedures and programmesrelating to human resources to optimize their contribution towards the realization of organizational objectives. • It tries to help employees develop their potential fully. and effective modeling of human resources as contrasted with physical resources.application and evaluation of policies. acquired knowledge and skills represented by the talents and aptitudes of the persons employed in the organization. attitudes. In other words. desirable working relationship between employees and employers. compensation and motivation of human resources by the organization. selection. These three phases may be termed as welfare. • It encourages employees to give their best to the organization. both as individuals and groups. skills. During the middle part of the century emphasis shifted to the employee's productivity. Its objective is the maintenance of better human relations in the organization by the development. total quality management and worker's participation in management. concerned with people at work and their relationships within the enterprise. • It is all about people at work. approaches and beliefs of theindividuals involved in the affairs of the organization.

productivity etc. Human Resource Management: Beliefs The Human Resource Management philosophy is based on the following beliefs: • Human resource is the most important asset in the organization and can be developed and increased to an unlimited extent. housing. Human Resource Management undertakes the following activities: . if the organization perpetuates a feeling of belongingness. creches. grievance and disciplinary procedures. Welfare aspect-It deals with working conditions and amenities such as canteens. Human Resource Management: Scope The scope of HRM is very wide: 1. rest and lunch rooms. Human Resource Management: Objectives • To help the organization reach its goals. medical assistance. utilizing knowledge and inputs drawn from psychology. • To provide the organization with well-trained and well-motivated employees. • Employees feel committed to their work and the organization. economics. recruitment. • A healthy climate with values of openness. settlement of disputes. • To ensure respect for human beings. • Employee commitment is increased with the opportunity to dis¬cover and use one's capabilities and potential in one's work. layoff and retrenchment. • To ensure reconciliation of individual goals with those of the organization. mutuality and collaboration is essential for developing human resource. education. selection. transfer. etc. • HRM can be planned and monitored in ways that are beneficial both to the individuals and the organization. • It is every manager's responsibility to ensure the development and utilisation of the capabilities of subordinates. team work and inter-team collaboration. recreation facilities. • To develop and maintain a quality of work life. • Employees feel highly motivated if the organization provides for satisfaction of their basic and higher level needs. joint consultation. incentives. Human Resource Management: Functions In order to achieve the above objectives. placement. promotion. • To increase to the fullest the employee's job satisfaction and self-actualization. Industrial relations aspect-This covers union-management relations. • To be ethically and socially responsive to the needs of society. remuneration. etc. Personnel aspect-This is concerned with manpower planning. • To enhance employee's capabilities to perform the present job. enthusiasm.• It is a multidisciplinary activity. trust. transport. • To develop overall personality of each employee in its multidimensional aspect. 2. • To inculcate the sense of team spirit. 3. health and safety. etc. collective bargaining. training and development. To identify and satisfy the needs of individuals. • To equip the employees with precision and clarity in trans¬action of business. • To ensure effective utilization and maximum development of human resources. • To achieve and maintain high morale among employees.

Social security and welfare of employees. 360 degree feedback will further lead to increased focus on customer services. Staffing the organization. 7. 8. • Culture prevailing in the organization etc. 11. 4. Job Rotation. For performance appraisal of the employee’s emphasis should be given to 360 degree feedback which is based on the review by superiors. decreased hierarchies. • Lean and mean organizations. 5. 13. which will work as various issues affecting its strategy: • Size of the workforce. peers. contract negotiation and grievance handling. • Impact of new economic policy. Training and development of employees. • Composition of workforce. More emphasis should be given to Total Quality Management. Human Resource Management: Major Influencing Factors In the 21st century HRM will be influenced by following factors. In every decision-making process there should be given proper weightage to the aspect that employees are involved wherever possible. 4. Political ideology of the Govern¬ment. There should be a properly defined recruitment policy in the organization that should give its focus on professional aspect and merit based selection. Remuneration of employees. • Rising employees' expectations • Drastic changes in the technology as well as Life-style changes. 10. selection and placement of personnel. 9. Human Resource Management: Futuristic Vision On the basis of the various issues and challenges the following suggestions will be of much help to the philosophy of HRM with regard to its futuristic vision: 1. creating of highly involved workforce. Feedback Counseling. Reviewing and auditing man¬power management in the organization 14. Opportunity and comprehensive framework should be provided for full expression of employees' talents and manifest potentialities. • Environmental challenges. New skills required. 6. 16. Organization development and Quality of Working Life. 12. avoiding discrimination and biases and identifying performance threshold. subordinates as well as self-review. Quality Circle. 15. Setting general and specific management policy for organizational relationship. Taking corrective steps such as transfer from one job to another. 2. Aiding in the self-development of employees at all levels. it will conform to customer's needs and expectations. Potential Appraisal. team-work and inter-team collaboration. It will ultimately lead to sense of team spirit. 3. it will ensure effective utilization of resources and will lead towards continuous . 3. TQM will cover all employees at all levels. 7. Role Analysis for job occupants. 6.1. Appraisal of performance of employees. Human resource or manpower planning. Developing and maintaining motivation for workers by providing incentives. Networking skills of the organizations should be developed internally and externally as well as horizontally and vertically. 17. • Downsizing and rightsizing of the organizations. 2. Recruitment. 5. Collective bargaining.

There should be focus on job rotation so that vision and knowledge of the employees are broadened as well as potentialities of the employees are increased for future job prospects. Head and Hand i. economic and social considerations should also be taken into account. For proper utilization of manpower in the organization the concept of six sigma of improving productivity should be intermingled in the HRM strategy. The career of the employees should be planned in such a way that individualizing process and socializing process come together for fusion process and career planning should constitute the part of human resource planning. It should not be confined to organizational aspects only but the environmental changes of political. 8. 11. think by Head and implement by Hand Market segmentation and bases market segmentation . To conclude Human Resource Management should be linked with strategic goals and objectives in order to improve business performance and develop organizational cultures that foster innovation and flexibility. we should feel by Heart. All the above futuristic visions coupled with strategic goals and objectives should be based on 3 H's of Heart.. 10. The key task is to find the variable. not a science. or variables that split the market into actionable segments There are two types of segmentation variables: (1) Needs (2) Profilers . 9.improvement in all spheres and activities of the organization. The capacities of the employees should be assessed through potential appraisal for performing new roles and responsibilities.bases of segmentation It is widely thought in marketing that than segmentation is an art.e.

To find the needs of customers in a market. with meals. The most common profilers used in customer segmentation include the following: Profiler Examples Geographic • • Urban or rural Demographic • Age. Profilers are the descriptive. users high Social Lifestyle class type sex. measurable customer characteristics (such as location.g.The basic criteria for segmenting a market are customer needs. income) that can be used to inform a segmentation exercise. light. occupation. nationality Psychographic • • • Personality type Behavioural • Product usage e.heavy medium. • Religion. family size education Region of the country . special occasions) medium . race. gender. • Income. • Type of user (e. • Brand loyalty: none. age.g. nationality. it is necessary to undertake market research.

is the most comprehensive appraisal where the feedback about the employees’ performance comes from all the sources that come in contact with the employee on his job. Superior’s appraisal forms the traditional part of the 360 degree performance appraisal where the employees’ responsibilities and actual . and judge his own performance. Facilitate communication between employee and administrator. quantity. the aims of a performance appraisal are to: Give feedback on performance to employees. superior). managers (i. promotions. What is mean by 360 appariasal Merits and demerits 360 degree feedback. A common approach to assessing performance is to use a numerical or scalar rating system whereby managers are asked to score an individual against a number of objectives/attributes. his achievements. suppliers/ vendors anyone who comes into contact with the employee and can provide valuable insights and information or feedback regarding the "on-the-job" performance of the employee. employees receive assessments from their manager. is a method by which the job performance of an employee is evaluated (generally in terms of quality.e. etc. customers. degree appraisal has Self Superior’s Subordinate’s Peer four integral components: appraisal appraisal appraisal appraisal. 360 degree respondents for an employee can be his/her peers. disciplinary actions. Self appraisal gives a chance to the employee to look at his/her strengths and weaknesses. subordinates. peers. In some companies. cost and time). 2. This is known as 360° appraisal. Form a basis for personnel decisions: salary increases. 4. team members. also known as employee appraisal. also known as'multi-rater feedback'. Performance appraisals are regular reviews of employee performance within organizations Generally. Provide the opportunity for organizational diagnosis and development. Document criteria used to allocate organizational rewards. Performance appraisal is a part of career development.Performance appraisal. 3. subordinates and customers while also performing a self assessment. 360 1. Identify employee training needs. Validate selection techniques and human resource policies to meet federal Equal Employment Opportunity requirements.

co-operation and sensitivity towards others. superior’s ability to delegate the work. It provides a "360-degree review" of the employees’ performance and is considered to be one of the most credible performance appraisal methods. leadership qualities etc.performance is rated by the superior. Subordinates appraisal gives a chance to judge the employee on the parameters like communication and motivating abilities. A 360 degree appraisal is generally found more suitable for the managers as it helps to assess their leadership and managing styles. This technique is being effectively used across the globe for performance appraisals. Also known as internal customers. Self assessment is an indispensable part of 360 degree appraisals and therefore 360 degree Performance appraisal have high employee involvement and also have the strongest impact on behavior and performance. . the correct feedback given by peers can help to find employees’ abilities to work in a team. Some of the organizations following it are Wipro. and Reliance Industries etc. 360 degree performance appraisal is also a powerful developmental tool because when conducted at regular intervals (say yearly) it helps to keep a track of the changes others’ perceptions about the employees. Infosys.

Preparation Performance Review .Once a Year Overview Self Appraisal Performance Review .The Meeting How to Complete a Performance Appraisal Form Analysis for Improving Performance Active performance appraisal conversation Performance appraisal feedback Performance Consulting: Moving Beyond Training Writing performance appraisal Performance Appraisal Training How to Measure Employee Performance FAQ about Performance Appraisal .

• TQM focuses on customer satisfaction whereas performance appraisal focuses on the improving the performance of the employees. characteristics and requirements making it impossibletocombinethem. Some of the benefits of both the performance appraisal and TQM are: • Improvement in the performance of the employees Brings quality consciousness • Commitment to higher quality. teamwork."Total Quality Management (TQM) may be defined as creating an organisational culture committed to the continuous improvement of skills. They both facilitate the systematic management of all the processes. Both TQM and Performance appraisal/ evaluation are focused on increasing the productivity of the organisation through continuous improvement. both TQM and Performance appraisals differ in their fundamental nature. actions and practices at all levels in the organisation. Some fundamental differences between the two are as follows: • TQM is team – based whereas performance appraisals are designed for individuals i. Elements of TQM are:  Meeting customers requirements. it undermines teamwork."TQM refers to the continuous improvement in the quality of work of all employees with the focus on satisfaction of the customers.e.  Continuous improvement Empowermentofemployees. .Commitment to higher qualityBetter utilization of resourcesCommitment to higher quality But there also exists a few other schools of thought which refute the compatibility of the TQM and performance appraisal. processes.According to Sashkin and Kiser. According to them. product and service quality and customer satisfaction.