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COMMERCE DEPARTMENT
BUSINESS STUDIES- XII-NOTES
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MARKETING MANAGEMENT
CONCEPT MAPPING:
1. Market, Consumer, Seller / Marketer meaning
2. Marketing meaning, Features Role
3. Marketing Management Measuring Nature and Objectives
4. Difference between marketing and selling
5. Marketing Functions
6. Marketing Mix product, price, place and promotion
7. Advertising meaning, features, merits and limitations.
8. Various media of Advertising and Media selection.
9. Objections to advertising
10. Sales promotion and Trade promotion meaning and variety of Tools / methods used.
11. Personal selling measuring features and steps in sales process
12. Publicity and Public Relations meaning and methods used.
LEARNING OBJECTIVES
Market, Customer, Seller / Marketer meaning
Meaning Functions and Role of Marketing
Marketing Management meaning
Nature and objectives
Difference between marketing and selling
Marketing Functions
Marketing mix concept and elements
Meaning Role and Limitations of Advertising
Media for Advertising, Media Selection
Objections to Advertising.
Sales promotions / Trade promotion meaning and variety of Tools / Methods used
Personnal selling meaning, Features and steps in sales process.
Publicity and public relations meaning and methods used.
Selling Concept
Marketing Concept
Starting point
Factors
Market
Main Focus
Attracting consumers
Consumer satisfaction
Means
Ends
MARKETING MANAGEMENT : It deals with planning, organizing and controlling the activities related
to the marketing of goods and services to satisfy the consumers wants.
NATURE :
1. It is goal diverted
2. It determines the appropriate marketing mix if the firm.
3. It is a functional area of management
4. It is a specialized job
5. It is the marketing concept in action
OBJECTIVES :
a. Creation of demand
b. Market share
c. Goodwill
d. Profitable sales volume through customer satisfaction
e. To determine marketing mix that will satisfy the needs of the customers
f. To generate adequate profits for the growth of the business.
Marketing
Selling
money.
Objectives
Scope
Marketing is wider
Selling is narrow
Orientation
Customer oriented
Product oriented
Process
after sale
customers
the product
Means used
MARKETING FUNCTIONS :
1.
Marketing research
2.
Marketing planning
3.
4.
5.
6.
Branding
7.
8.
9.
Transportation
10.
11.
12.
Pricing
13.
Fixing
14.
Risk taking
1) Mass reach
2) Enhancing customer satisfaction
3) Expressiveness
4) Economical
f) Packaged premium
b) Refunds
g) Container premium
c) Discounts
h) Premium Gifts
d) Quantity deals
i) Sampling
e) Contents
Trade Promotion :
1) Premium and contests
4) Allowances
2) Special Discounts
5) Novelties
3) Free Goods
6) Push Money
PERSONAL SELLING : It involves face-to-face interaction between the seller and the
prospective buyer.
Features : 1) Personal interaction
2) Two way communication
3) Better response
4) Relationship
STEPS IN SALES PROCESS :
a) Prospecting
b) Qualifying
c) Pro-approach
d) Approach
e) Presentation and demonstration
f) Handling Objections
g) Closing
h) Follow-up
IMPORTANCE OF PERSONAL SELLING
1) Importance to Businessmen :
a) Effective promotion tools
b) Flexible Tool
2) Importance to Customers :
a) Helps in identifying needs
b) Latest market information
3) Importance to Society :
a) Converts latest demand
b) Employment opportunities
PUBLICITY :
Meaning : It refers to the non-paid non-personal presentation if ideas, goods and services
through a mass media in the form of news item.
Role of Publicity :
1) Importance to manufacturers :
a) Lastless media of promotion
b) Enhancing Goodwill
2) Importance to customers :
a) Enhancing customers confidence
b) Enhancing customers knowledge
VARIOUS PUBLIC RELATION TOOLS TO SHAPE THE PUBLIC IMAGE IF THE
ORGANISATION
a) News
b) Speeches
c) Events
d) Written Materials
e) Public service activities