Marketing Management

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(Distance Learning Program) MARKETING Management (ADL-10)
Analytical Questions

Q1. Define Marketing, distinguish between Selling and marketing. What are the four components of Marketing Mix, briefly explain. ?

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

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