SCOPE OF MARKETING?

1.                                                SCOPE OF MARKETING?

The scope of marketing is explained from the view point of functional areas of marketing which are as follows:
1.       Marketing Research: - It is one of the important areas of marketing. Marketing research is a process which consists of systematic gathering, recording and analyzing data about marketing problems. Marketing Research helps to design effective marketing plans to develop and sell products in the market.
TWO main areas of marketing research are; 1. Consumer Research…2. Dealer Research.

2.       Product Design: -Firms need to come up with new products designs or models to cater to the satisfaction of customers, introduction of new products design helps to generate goodwill in the market which in turn expands the business.

3.       Advertising: -Now-a-days, advertising is considered to be one of the most effective ways of promoting goods and services. Advertising is the paid form of non-personal promotion of ideas, goods and services by an identified sponsor. The main objectives of advertising are to create awareness of the product.

4.       Sales Promotion: -Sales promotion is an important element of promotion mix; sales promotion involves various tools to induce the customers to buy the products. The sales promotion tools include; 1. Buyback offer   2. With stripes or to induce the customers to buy the products.  3. Coupons or cash vouchers.  4. Discounts.  5. Exchange offers.  6.  Free samples. Etc.

5.       Pricing: -Price refers to the exchange value at which the seller is willing to sell and buyer is willing to buy. Effective pricing is vital to the success of the product in the market. The price should be right and within the lines of the competitors.

6.       Physical distribution: -it refers to the place of sale and the channel used for selling. Consumers want products to be available at a convenient place and on time. The marketer can use either direct or indirect channel to reach the products to the buyer.

7.       Personal selling: -one of the important areas of marketing involves personal selling. The personal selling staff or the sales force makes a big difference not only in promoting the products but also to generate goodwill of the firm. The sales force needs to be constantly motivated to achieve sales targets.

8.       After sale service: - Effective after sale service is a must in case of consumer durables. Consumers value a company by the quality and speed of after sale service. To promote a good name and reputation in the market, the marketer must offer very well after sale service to its customer.

9.       Branding: -Branding is a important aspect in today’s competitive business world. The marketer must consider certain essential while selecting a suitable brand name for a particular product. A good brand name aids customers in identifying the branded item. It creates brand loyalty and among other things aids in brand extensions.

10.   Test Marketing: -it is a process of introducing a product or service in a very limited market area in order to find out whether or not the consumers would accept with product or service. If test marketing is successful; the product may be launched over a large market area.

11.   Customer Relationship Management: - Now-a-days, professional firms place lot of emphasis on CRM. It is concerned with managing detailed information about individual customers and all ‘customer touch points’ (every contact between the customer and the company-right from order placement to after-sale-service), the product of CRM is to enhance customer loyalty.

12.   Other Areas: -There are several other areas which need attention of the marketers. The other areas include, product positioning, packaging, public relations, participation in trade fairs and exhibitions, etc.

No comments:

PDF FILE TO YOUR EMAIL IMMEDIATELY PURCHASE NOTES & PAPER SOLUTION. @ Rs. 50/- each (GST extra)

HINDI ENTIRE PAPER SOLUTION

MARATHI PAPER SOLUTION

SSC MATHS I PAPER SOLUTION

SSC MATHS II PAPER SOLUTION

SSC SCIENCE I PAPER SOLUTION

SSC SCIENCE II PAPER SOLUTION

SSC ENGLISH PAPER SOLUTION

SSC & HSC ENGLISH WRITING SKILL

HSC ACCOUNTS NOTES

HSC OCM NOTES

HSC ECONOMICS NOTES

HSC SECRETARIAL PRACTICE NOTES

2019 Board Paper Solution

HSC ENGLISH SET A 2019 21st February, 2019

HSC ENGLISH SET B 2019 21st February, 2019

HSC ENGLISH SET C 2019 21st February, 2019

HSC ENGLISH SET D 2019 21st February, 2019

SECRETARIAL PRACTICE (S.P) 2019 25th February, 2019

HSC XII PHYSICS 2019 25th February, 2019

CHEMISTRY XII HSC SOLUTION 27th, February, 2019

OCM PAPER SOLUTION 2019 27th, February, 2019

HSC MATHS PAPER SOLUTION COMMERCE, 2nd March, 2019

HSC MATHS PAPER SOLUTION SCIENCE 2nd, March, 2019

SSC ENGLISH STD 10 5TH MARCH, 2019.

HSC XII ACCOUNTS 2019 6th March, 2019

HSC XII BIOLOGY 2019 6TH March, 2019

HSC XII ECONOMICS 9Th March 2019

SSC Maths I March 2019 Solution 10th Standard11th, March, 2019

SSC MATHS II MARCH 2019 SOLUTION 10TH STD.13th March, 2019

SSC SCIENCE I MARCH 2019 SOLUTION 10TH STD. 15th March, 2019.

SSC SCIENCE II MARCH 2019 SOLUTION 10TH STD. 18th March, 2019.

SSC SOCIAL SCIENCE I MARCH 2019 SOLUTION20th March, 2019

SSC SOCIAL SCIENCE II MARCH 2019 SOLUTION, 22nd March, 2019

XII CBSE - BOARD - MARCH - 2019 ENGLISH - QP + SOLUTIONS, 2nd March, 2019


BUY FROM PLAY STORE

DOWNLOAD OUR APP


HOW TO PURCHASE OUR NOTES?



S.P. Important Questions For Board Exam 2020


O.C.M. Important Questions for Board Exam. 2020


Economics Important Questions for Board Exam 2020


Chemistry Important Question Bank for board exam 2020


Physics – Section I- Important Question Bank for Maharashtra Board HSC Examination


Physics – Section II – Science- Important Question Bank for Maharashtra Board HSC 2020 Examination


MUST REMEMBER THINGS on the day of Exam


Are you prepared? for English Grammar in Board Exam.


Paper Presentation In Board Exam


How to Score Good Marks in SSC Board Exams


Tips To Score More Than 90% Marks In 12th Board Exam


How to write English exams?


How to prepare for board exam when less time is left


How to memorise what you learn for board exam


No. 1 Simple Hack, you can try out, in preparing for Board Exam

How to Study for CBSE Class 10 Board Exams Subject Wise Tips?

JEE Main 2020 Registration Process – Exam Pattern & Important Dates

NEET UG 2020 Registration Process Exam Pattern & Important Dates

How can One Prepare for two Competitive Exams at the same time?

8 Proven Tips to Handle Anxiety before Exams!