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1 Introduction to Marketing The 1990s have borne witness to dramatic shifts in the marketplace triggered by sharp changes in the lifestyle patterns of the past and present and the radical revolution in the technology. Time tested concepts on Brand loyalty and Mass Marketing, are being turned on their heads as they fail to gauge the behavior of new generation customers. The behavior is characterized by the uniqueness of individual expectations, the preference for multiple options, propensity to abandon brand loyalty and switch to competition brands that give higher value. The new breed is even willing to import to satisfy specific requirement. It is difficult to classify this generation by conventional demographic factors and unless their thought process and buying behavior are fully understood, decisions on product designs and packaging, branding and distribution channels are likely to be misplaced. With the inevitability of change looming large over the horizon, Indian companies must learn from their western counterparts; not only to identify the sources, timing and direction of the changes likely to affect India, but also the new competencies and perspective that will enable them to respond to these changes, comprehensively and effectively. Companies offering product or services will need to understand this new face of the customers. The changing demographic profile of the population in terms of education, income, size of family and so on, are important by what will be more substantive in days to come will be the psychographics of customers that is how they feel, think or behave. Markers will have to constantly monitor and understand the underlying psychographics to map their respective industries are moving and decide what needs to be done, by way of adding value that motivates customers to buy the companys products and influence the future industry structure.

What is marketing? Marketing on the one hand is a business philosophy and on the other an action oriented process. The philosophy - also termed as marketing concept - has its roots in market economy. There are four critical ideas that form the foundation of such an economy: Individuals pursue their self-interest to seek rewarding experience Their choices determine as to what would constitute such experience, the choices themselves being shaped by personal (taste) and external (cultural) influences buyers and sellers. Thus Marketing can be defined as a Process that aims at satisfying individual and organizational needs by creating, offering and exchanging competitively made products that provide value to the buyers Today our focus is on customer. Objectives liken revenue, profit, market share, etc. Re important, but they will flow only by acquiring customer competence. In our country particularly the customer, even as late as in 1980s, was bereft of alternatives; he would uncomplainingly buy whatever the seller dished out. Not anymore. Todays choice empowered customer, supported by a competitive environment, global quality, and new economic realities, decides the fate of the marketer. So lets define marketing once more: It is a total business philosophy aimed at identifying the needs of each customer group, then designing and producing product / service package so as to serve the groups more effectively than the competitors This definition reveals three key dimensions of marketing: It seeks to identify customer needs: Many manufacturers would know all there is to know about relevant production technology, but nothing about their customers wants. They may design products with fancy features without considering the perceived value of such features to their buyers. Then they wonder why their sales staff fails to push the product in the market. Marketing attempts to select customer groups for which it can develop a competitive edge:Companies taking a shotgun approach - meaning all things to all people inevitably end up with sackful of unsold product inventories.

1.2 EVOLUTION OF MARKETING

Marketing has evolved from the time man existed on earth. Following are the phases of development of marketing

Barter system

Production Orientation

Sales Orientation

Marketing Orientation Consumer Orientation

Management Orientation

Social Orientation

Barter system: The goods are exchanged against goods without any other medium of exchange like money.

Production orientation: This was the stage where producers, instead of buying concerned with customer preference concentrating on the mass production of goods for the purchase of profit.

Sales orientation: This stage witness major changes in all the spheres of economic life. The selling activity becomes the dominating factor without any efforts for the satisfaction of the consumer needs.

Marketing orientation: Customers importance was satisfied but only as a means of disposing of goods produced competition become stiffer.

Consumer orientation: Under this stage only such products are bought forward to the markets which are capable of satisfying of taste and expectation of consumer satisfaction.

Management orientation: The marketing function assumes the managerial role to coordinate all the interacting business with the objectives of planning, promotion and distribution.

Social orientation: The companies are not only cares for consumers but also for social welfare. Thus, social welfare becomes the added dimension to the companies.

1.3 OBJECTIVES OF MARKETING

At the end of all marketing activities is the satisfaction of human wants and derive profits from them. The following are the most significant objective of marketing.

Intelligent and effective application of modern marketing: Today economic changing growth rate, relatively high inflation, high interest rates, rapid technological change and new aggressive rivals challenge marketing firm to adopt and respond to change for survival and prosperity.

To develop the market field: Marketing is the most dynamic field where change rules the roost. Change is continuing pre occupation among marketers.

To develop and implement guiding policies for better results: Innovative marketing guiding policies and their effective implementation to assure better results.

To suggest solutions by studying the problems relating to marketing: Identifying the problems and giving fitting solutions to the problems in various aspects of marketing is really a challenge to the companies.

To find sources for further information concerning the market problems: The world of business in moving on the basis of countless decisions, marketing decisions are more complex and intricate having impinging impact on the very fortune of a company.

To take appropriate and opportune action in the course of working. The marketing information system designed by the marketing organization helps in identifying the problem, investigating analyzing it and interpreting the problem for the final decision

1.4 FUNCTIONS OF MARKETING

Marketing involves certain activities to make the goods from producers to consumers. It consist of operations and an operation may be performed several times either by a producer, middleman, till the commodity finally reaches in the hand of consumers.

1. FUNCTIONS OF EXCHANGE

Exchange implies the transfer of goods and services money or moneys worth. Exchange brings about change in the ownership of goods. It is a two-way process invading two separate but supporting activities viz, buying and selling.

Selling

Selling is the sum total of all those activities that push the commodities to the buyers or consumers at a profitable price. It is the process that involves personal and impersonal efforts made in persuading the prospective customers to buy a commodity or service.

Product planning and development Product planning is the planning or forecasting what consumers want in terms of quantity, quality, time, place, price, where as, product development refers to making available such goods to meet the requirement of consumers as demanded by them.

Contractual function It is the set of those activities that pertains to finding out and locating the consumers and establishing and maintaining relation with them.

Demand Creation It includes such special efforts to induce and persuade the prospective users to purchase the products of the seller only.

Negotiation Negotiation as to terms of quality, quantity, price of the product time and mode of transport payment etc are to be made with prospective buyers.

Contractual Once the terms and conditions are settled between buyers and sellers a final contract would be entered into, where legally, ownership of goods passes on from seller to buyer.

Buying

Buying is another function of exchange that refers to all such activities involves in the assembling of goods under a single ownership and control. Its immediate purpose is to bring commodities together where they are wanted for use in production for final consumption. This buying function has following five elements:

Planning Assortments: Buyers are to study their own market condition in order know the types quantity and quality of goods that are required by final users. Contractual: It is clothed with the selection of various sources of supply, keeping in touch with them, to get the goods quickly reasonably and regularly.

Negotiation: Buyers and sellers negotiate the terms and condition of price quantity, quality and time of delivery, transport & payment.

Contractual:

It is the last phase that binds the parties of exchange by means of a contract where the titles to the goods more from seller to buyers.

2 FUNCTIONS OF PHYSICAL SUPPLY

These are the functions that are related with creation of place and time utilities, they are:

Transportation: Transportation is the physical means to move the goods and people from a place to another. It is essential spoke in the wheel of market. It is responsible for the creation of time utility

Storage Storage is equally important that is creates time utility. The products are to be preserved from time of production to the time of consumption. It is the base of consumers to get the goods as and when required.

3 FACILITATING FUNCTIONS

These are the function that facilitates the process of exchange

Financing Finance is the base for all marketing activities. It makes the exchange process smooth and acts as lubricating oil to the wheel of marketing.

Risk-bearing Market risk are inherent so long the process of exchange continues many risks are involved in marketing which brings about changes in ownership, place etc

Market information

The much desired success of marketing depends on correct and timely decisions. These decisions are based on market information. It includes all facts, estimates, opinion, views, regarding the market

Standardization Standardization helps on tackle certain major problems of marketing. It is related with the division of commodities into distinct groups standardization involves establishment of certain criteria to which the goods must confirm.

1.5 INTRODUCTION TO BRAND AWARENESS

With the opening of the market or the post liberalization period has resulted in many companies entering the markets with offerings of their goods and services.

In the earlier stages of economic revolution consumer had to accept what the manufacturer has produced. But todays consumers are much more educated, demanding, expect lot more to suit their ever changing life styles. There by their quality expectations have been elevated from time to time in order to rebuild it-self around its customer. The manufacturer should be able to satisfy, with the type of product and services to match the ever-changing customer requirements.

In developing a marketing strategy for products, the sellers have to confront the branding decision. Brand is a major issue in product. Customers have strong preference for particular versions and brands of basic goods and services. The manufactures eventually learn that market power lies with the brand name companies. Consumers buying decisions are influenced by the brand.

In this competitive world, the Brand plays an important role and a brand is very prominent asset owned by an organization. Brand is endowed with awareness, perceived quality, associations and brand loyalty. Brand is presented as creative idea.

A brand is a promise of the seller to deliver a specific set of benefits or attributes or services to the buyer. Brand represents a level of quality.

Meaning: A Brand is symbol, a mark, a name that acts as a means of communications which brings about an identity of a given product. A Brand in short is an identifier of the seller or the maker. A brand name consists of words, letter or numbers that can be vocalized. Brand mark is the visual representation of the brand like a symbol, design, distinctive coloring or lettering. Brand creates a bond between the customer and a product.

Definition: According to American marketing association A Brand is defined as a name, item, sign, symbol or special design or some combination of these elements that is intended to identify the goods or services of one seller or a group of sellers. A brand differentiates these products from those of competitors.

In the word of Philip Kotler

A brand is a name, term, sign, symbol or design or combination of them. Intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

Role of Branding In todays world brand names come to create identify to distinguish one product from another. The following points to pin down its precise role.

Brand is a massive asset: Brand is an intangible asset, because it is impossible to duplicate brand name.

Brand is promotional tool: The product differentiation is done by a brand through sales promotion.

Brand is a weapon to protect Market: A consumer has tried and liked a product, the brand enables him to identify the product and repeat the purchase.

Brand is antidote for middle mens survival: The class of middle man always tends to go for a successful brand.

Brand is a means of identifications of customers: Brand is the easiest way of identifying product or service by customers.

A brand can convey the consumers through six levels as shown below:

Brand Conveying the Consumer Attributes Benefits Values Culture Personality User

Attributes: a brand first brings to mind certain attributes for a particular product. Benefits: consumers are buying benefits of the product with brand. Values: the brand tells about values which says same thing about the product values. Culture: the brand represents a different culture. Personality: a brand project a personality which can be person, animal or object. User: the brand suggests its own target audience to use the product.

1.6 TYPES OF BRANDS

Brand

Manufacturer Brand

National Brand

Private Brand

Single Brand

Multiple Brand

Family Brand

Brand Awareness of the Product

Aware of brand, when its presence is registered in the mind of consumers. The level of awareness can range from mere recognition to recall to top of mind to dominant. The company is spending money to keep brand in consumers memory. A strong brand awareness means easy acceptance of new products. Brand with strong awareness can brought and sold to create brand name with enduring strength. An organization can put its customer awareness, identify and develop it further to build strong brand. It is enhanced by creating a brand loyalty and establishing brand identity of a product. Brand awareness is asset which brand managers create and enhance to build brand equity. It is related to the nature and features of product. It leads to brand strength which is constituted by measuring the variable like leadership, stability, Market, geographic, trend, support and protection etc

Creating brand awareness with the use of advertising, promotion event management etc a different brand has different kind of awareness which retains recognition.

Brand awareness satisfies a need of the consumer. A consumer as aims, ambitions, motivation drives and desire. Consumer feels more powerful when he uses the brand. Satisfactions or preference for a brand shows how loyal the consumer is likely to be brand. Now a days consumers are experience with brand awareness for different product, where the consumers expectations levels are increased towards brand, product etc.