MARKETI

NG
MANAGE
MENT
NIVEDTIA KOHLI
11026
BCOM III (A)
“Marketing includes the performance of those business activities that
direct the flow of goods and services from producer to consumer.”
~American Marketing Teachers’ Association

Features of marketing:
 Identification as well as assessment of markets and sales forecasting.
 formulation of marketing policy to cater to the market chosen.
 Planning and operation of the market organisation to achieve the desired level of sales and
to deal with the customers.
 Organisation and conduct of sales promotion through salesmanship advertising and other
methods.
 The costing and budgeting of market effort.
 Measurement and review of the result of marketing effort in order to check whether the
firm is providing the desired level of consumer satisfaction
Importance of marketing:

1. Marketing helps transfer exchange and movement of goods.

2. Marketing is helpful in raising and maintaining the standard of living of the
community.
3. Marketing creates employment.
4. Marketing as a source of income and revenue.
5. Marketing acts as a basis for making decisions.
6. Marketing acts as a source of new ideas
7. Marketing is helpful in development of an economy
 MARKETING
FUNCTIONS

Merchandising Physical distribution Auxiliary functions

functions functions

Product planning Storage Financing

and development
Standardising and Transportaion Risk-bearing
grading
Buying and Branding
assembling
Selling Packaging
MERCHANDISI
NG FUNCTIONS
 PRODUCT PLANNING AND
Product planningDEVELOPMENT
is the act of marketing and supervising the
research, development and commercialisation of new products,
the modification of existing lines and discontinuance of marginal
or unprofitable items.
Product planning includes the following activities :
(i) Creating idea of a new and improved product.
(ii) Screening of idea.
(iii) Development and Testing of alternatives.
(iv) Evaluating its products.
(v) Pricing of product.
(vi) Producing for sale.
(vii) Giving physical shape, branding, packaging, labelling
(viii)Test Marketing to give the product a trail.
 STANDARDISING AND GRADING
Standardizing is the process of deciding the standards to
manufacture products in conformity with those standards.
Standards are set with regards to size, shape, colour, design and
material. It provides the idea of uniformity of quality.

Grading is the system of grouping products into separate classes.

The products are grouped according to their size, quality and
characteristics. Grading creates good impression in the mind of
buyers because they are assured of a particular standard of
goods.
 BUYING AND ASSEMBLING
Buying refers to the process of acquiring goods at the right price
at a right time in right quantity and quality and from a right
source of suppliers.

Assembling is used for gathering of products from small

producing units and bring them to a central place for further
sale.
 SELLING
Selling may be defined as the process of transfer of ownership of
goods or services to a purchaser in exchange of money. Goods flow
to customers who need them finally through selling. Selling helps
in attaining the primary objective of every business of earning
profits.
There are five basic elements of selling function:
(i) Product Planning and development
(ii) Establishing contact with buyers
(iii) Creation of demand
(iv) Negotiation
(v) Entering into a contract
 Methods of Selling

(i) Personal Selling

(ii) Indirect Selling
(iii) Sales by Inspection
(iv) Sale by Description
(v) Sale by Sample
(vi) Mail order selling
(vii) Hire purchasing selling
PHYSICAL
DISTRIBUTION
FUNCTIONS
 STORAGE
Storage is defined as theAND WAREHOUSING
process of preserving goods from the time
they are produced till they are required for the consumption.
Storage ensures the proper care for retaining the goods in perfect
condition till these are required by the final consumer and sold in
the market.

A warehouse is an establishment for the storage and accumulation

of goods. Warehousing assists to the producers, wholesalers and
retailers.
 TRANSPORTATION
The movement of goods or services from one place to another is
known as transporting. It is sum total of all those processes which
are engaged in the removal of hindrances of persons, place and
time in the exchange of commodities. Transport increases the
mobility of labour and capital, widens the market, leads to
specialization and division of labour, helps in stabilizing prices.
AUXILIARY
FUNCTIONS
 FINANCING
Financing is the process of providing funds for business
activities, making purchases, or investing. The volume of
finance depends on factors like nature and size of
business, length of production cycle.
 RISK BEARING
Marketing involves large risks. Some risks can be
insured, some risks can’t be insured. These risks can
never be eliminated, however, these can be minimised
through effective system of sales forecasting, market
research, advertisement, sales promotion, product
diversification.
 BRANDING
Branding means to give a name to a particular product. A
brand may be defined by a name, symbol or logo. It helps
in differentiating the product from other products in the
market.
 PACKAGING
Packaging is the science, art and technology of enclosing
or protecting products for distribution, storage, sale, and
use. It protects the goods from spoilage, leakage or
breakage.
 MARKETING MIX
Marketing mix is the term used to describe the combination of the four inputs
which constitude the core of a company’s marketing system

PRODUCT MIX PLACE MIX

Product mix. It comprises policies and It comprises the policies and procedures relating to
procedures relating to product line to be offered, channels to use between plant and consumer,
markets to sell, new product policy, research and degree of selectivity among wholesaler and
development branding, packaging. retailers, efforts gain co-operation of trade .

PROMOTION
PRICE MIX MIX
It comprises the policies relating to the
It comprises advertising, personal
price levels to adopt e.g., one price or
selling and sales promotion.
variable price, price maintenance.
 FACTORS INFLUENCING PRICE
DESICIONS
Controllable factors
(i) Stage of Product life cycle
(ii) Brand image
(iii) Frequency of purchase
(iv) Size of purchase
(v) Price elasticity of demand
(vi) Size of potential market
(vii) Length of channels of distribution
(viii)Margins allowed to dealers
(ix) Social obligation
(x) Cost consideration
Uncontrollable factors
(i) Extent of Completion Prevailing
(ii) Economic Conditions prevailing
(iii) Legal Consideration
(iv) Consumer behaviour
(v) Government Control and Regulation
(vi) Purchasing power of the customer
(vii) Bargaining power of consumers
(viii)Social Consideration
CHANNEL FOR CONSUMER GOODS

Direct selling Indirect selling

(i) Manufacturer to consumer
(i) Mail order
(ii) Manufacturer to retailer to consumer
(ii) Manufacture’s retail outlet
(iii) Manufacturer to wholesaler to retailer
(iii) House-to-House selling
to consumer
(iv) Manufacturer to wholesaler to
consumer
(v) Manufacturer to Agent to wholesaler to
retailer to consumer.
CHANNEL FOR INDUSTRIAL GOODS

Direct selling Indirect selling

(i) Manufacturer to industrial user
(i) Manufacture to industrial user (ii) Manufacturer to wholesaler to industrial
user
(iii) Manufacturer to Agent to industrial user
(iv) Manufacturer to Agent to wholesaler to
industrial user
 QUALITIES OF ENTREPRENUER AS A
SUCCESSFUL MARKETER
PHYSICAL MENTAL
ATTRIBUTES
 PERSONALITY- Appearance, posture, voice,  ALERT, ACTIVE, ATTENTIVE
ATTRIBUTES
habits  GRASPING POWER
 NO PHYSICAL HANDICAPS- Stammering,  PRESUASIVE AND CONVINCING
limping and mentally sound  GOOD MEMORY POWER
 GOOD STAMINA  SELF CONFIDENT
 TACTFUL AND IMAGINATIVE
SOCIAL AND MORAL
VOCATIONAL
ATTRIBUTES
 CO-OPERATIVE AND HELPFUL  ATTRIBUTES
APTITUDE, SPECIAL DICIPLINE OF MIND AND
 POLITE AND CHEERFUL BODY
 CONVINCING CONVERSATIONIST  ENTHUSIASTIC AND POSITIVE
 HONEST AND SINCERE  DISCIPLINED AND MANNERED
 EAISLY GETS ALONG WITH PEOPLE  TRAINED FOR EFFECTIVE SALES METHODS
 TACTFUL TO DEAL WITH CUSTOMERS
 MARKET ASSESSMENT
Marketing assessment is the process of systematic
gathering, recording and analysing of information about
consumers competitors and the market.
Marketing assessment helps entrepreneurs to identify and
solve the problems, identify and evaluate entrepreneurship
opportunities and develop the effort enquired to exploit it.
 STAGES IN THE PROCESS OF MARKET ASSESSMENT
I. MARKET NEED ASSESMENT: Idea stage, for identification of potential market
for entrepreneurial idea, estimate the size of the market and determine a preliminary
value of product.
II. MARKET STUDY: Feasibility stage, to identify and quantify the prospective
buyers for the product, their buying capacity and paying capacity.
III. MARKET PLAN: Development stage, to deicide the target market, distribution
channels and new means to make money by entrepreneur.
IV. MARKET VALIDATION: Launch stage, the objective is to test the product in
the target markets and compare the results to the expectations of the business plan.
V. GROWTH AND MATURITY STAGE: The objective is to get the share of the
market and boost the profits through diversification or broadening the markets.
TECHNIQUES IN ASSESSING MARKET

SURVEY STATISTICAL LEADING

METHOD METHOD INDICATOR
 SIGNIFICANCE OF MARKET
ASSESSMENT
BUSINESS MARKETING
Opportunities which are viable
PLANNING To meetSTRATEGY
competition to pursue
to be exploited by growth and achieve the
entrepreneur business objectives

DECISION MAKING PROBLEM LARGE SCALE

TECHNIQUE SOLVING PRODUCTION
Offers information and Adjustments and Provides means and methods
data for making innovations in product, to match the production lines
entrepreneurial price, place and promotion with new business
decisions. to solve problem opportunities
 Small Business Marketing Challenges
Lack of resources (budget / people / time)

Choosing the right social media platforms

Keeping up with trends and technology

Increasing visibility and generating quality leads

Producing and delivering content

Who to trust when outsourcing marketing activities

 STEPS TAKEN BY GOVERNMENT IN
MARKETING GOODS OF SMALL
SCALE INDUSTRIES
The government has undertaken some measures to
provide marketing support to scale small units:
● Central government’s stores purchase program
● Reservation of items for exclusive purchase from small
scale industries 
● Marketing Services offered by small industries
development organisation 
● Subcontracting exchange program 
● Marking scheme of National Small Industries
Corporation Limited 
● Schemes of SIDBI for marketing activities 
● Ancillary Development program of SIDO
.
ENTREPREN
EUR
EXAMPLES
 VLCC
Founder: Vandana Luthra
She is an inspirational entrepreneur who is the
founder of VLCC Health care Ltd. She is an Indian
businesswoman, philanthropist, and chairman of
the ability council for the beauty and wellness
sector. In 1989, Vandana Luthra set up a company
called VLCC as a Wellness center. VLCC is a very
popular giant of beauty and wellness and is present
in 11 countries throughout Asia, Africa, and the
GCC. In 2010, she won the Enterprise Asia Women
Entrepreneur of the year award. Vandana was
honoured by India’s fourth-highest civilian honour,
Padma Shri award from President of India in 2013. 
 OYO
Founder: Ritesh Agarwal
He founded the company as a 19 year old in
2012 with only 11 rooms in a Gurgaon hotel.
With his foresight and tremendous
entrepreneurial abilities, he has now managed
to make OYO account for some about 65000
rooms in almost 5500 hotels across India.
 Winner of the Business World Young
Entrepreneur Award and named on a couple of
Forbes 30 under 30 lists.
 NYKAA
Founder: Falguni Nayar
She endeavoured her journey at the age of 50, the
one-stop destination for cosmetics and other
beauty range was launched in 2012. Nykaa’s
turnover crossed 200 crores, along with 850
brands and more than 50,000 products. Ms Nayar
was recognized as Top Woman in Business by
Business Today in 2011 and 2017. She has also
received FICCI Ladies Organization Award for
Top Woman Achiever in the field of banking in
2008. In 2017, Ms Nayar has won the “Woman
Ahead” award at The Economic Times Start-Up
Awards 2017.
THANK
YOU 