AMITY UNIVERSITY,
(Distance Learning Program) MARKETING Management (ADL-10)
Analytical Questions
ASSIGNMENT - A
Q1. Define Marketing, distinguish between Selling and marketing. What are the four components of Marketing Mix, briefly explain. ?
Ans1. WHAT IS MARKETING?
What docs the term marketing mean '? Marketing must be understood not in the old sense of making a sale - "selling" - but in the new sense of satisfying customer needs.
We define marketing as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. To explain this definition, we examine the following important terms: needs. wants, and demands; products: value and
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(A channel of distribution is any series of firms - or individuals - from producer to final user or consumer.) Sometimes a channel system is quite short. It may run directly from a producer to a final user or consumer. This is especially common in business markets and in the marketing of services. Often the system is more complex - involving many different kinds of middlemen and specialists. And if a marketing manager has several different target markets, several different channels of distribution might be needed.
3. Promotion. The third P - Promotion - is concerned with telling the target market about the "right" product. Promotion includes personal selling, mass selling, and sales promotion. It is the marketing manager 's job to blend these methods. Personal selling involves direct communication between sellers and potential customers. Personal selling usually happens face-to-face, but sometimes the communication occurs over the telephone. Personal selling lets the salesperson adapt the firm 's marketing mix to each potential customer.
Mass selling is communicating with large numbers of customers at the same time. The main form of mass selling is advertising - any paid form of no personal presentation of ideas, goods, or services by an identified sponsor. Publicity - any unpaid form of no personal presentation of ideas, goods, or services - is another important form of mass selling.
Sales promotion refers to those
The portion of the business that should be focus on sales of products is advertising, sales promotion, publicity, personal selling, sales force management, customer relations, and dealer relations. These activities are especially critical when a firm pursues a market penetration strategy. The effectiveness of various selling tools for consumer and industrial products varies. Personal selling is most important for industrial goods companies, and advertising is most important for consumer goods companies. With regard to advertising products and
marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others
“Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organisational objectives” (AMA,1985)
Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.(Kotler, Armstrong, Saunders, Wong page 5)
Marketing is the science and art of exploring, creating and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and qualifies the size of the identified market and the profit potential.[Dr. Philip Kotler]
Marketing must understood not in the old sense of making a sale that is telling and selling but in the new sense of satisfying customer needs. Among the mentioned key words marketing serves must toward achieve some of the unlimited human needs and wants. For the transaction to take place the two parties most agree on mutually benefiting agreement where the buyer pay certain amount of money for
Personal selling involves company sales representatives contacting potential customers through various channels with the aims of making a sale. The advantages of personal selling include the possibility to attract customer attention, application of interpersonal skills in order to mage the sale, and the potentials for forming and maintaining long-term customer relationships.
What has Accenture done well to target its B-to-B audience? Has Accenture done the right thing by dropping Tiger Woods as its spokesperson? Why?
In the United States, being more health conscious is becoming more popular. As a result, carbonated drinks are becoming less admired, and fruit drinks are growing in demand. Therefore, the market for low-carb drinks and fruit drinks is expanding. There are many competitors in the fruit drink industry. NAA Bottling Company has critical issues that they face, for example, they need to make sure they have a secure retailer, and they need to ensure they have adequate shelf space in the stores. NAA Bottling needs to differentiate themselves from their competitors’ products, and they need to decide whether they want to associate their fruit drink line with their carbonated beverage line. NAA Bottling Company needs
If you are working in a super market, what techniques/ tools you will use in data collection. How are you going to analysis the data and make inferences? How will you finally apply your market research to improve sales and win over customers?
Marketing is the practice of the planning and performing the conception pricing, promotion and distribution of opinions and goods and services to generate trade that please the individual and organisational objective (American marketing association). The main objective of the marketing is to recognising and meeting social and human needs. Where the marketing is centred at the need and want of the consumers, where the industry should determine the design of the product and services.
Marketing is the basic concept of selling or buying products and services. This is generally some type of exchange of money, services, goods or ideas. Advertising has vastly changed since the creation of the printing press.
Marketing is the basic concept of selling or buying products and services. This is generally some type of exchange of money, services, goods, or ideas. Advertising has vastly changed since the creation of the printing press;
Marketing is a process. A process of planning, and executing all aspects of an idea—pricing the product, promotion of the product, and distribution of the product or services-- to create exchanges that satisfy the individual, as well as organizational needs. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Some say it’s an art, I say it’s a science but whatever anyone thinks it is, one thing is for sure—it’s a necessity for any business owner. When marketing products businesses need to create a successful mix.
Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.