Principles of marketing

Principles of Marketing
Presented By
V.Gopalakrishnan.,M.Com.,M.B.A.,M.Phil.,PGDMM.,
Assistant Professor,
Department of Commerce,
Kamaraj College, Tuticorin.

Meaning of Market
The Term Market is derived from the Latin Word
“Marketus” which means merchandise or Trade.
Example:
Vegetable Market, Meat Market, Fish Market
V.GopalaKrishnan.,M.Com.,MBA.,M.Phil.,PGDMM

Definition of Market
• “Market Includes both place and region in which buyers
and sellers are in free intercourse with one another”
Peter.J.F

Evolution of Marketing
 Barter System
 Production Orientation
 Sales Orientation
 Marketing Orientation
 Consumer Orientation
 Management Orientation

Classification of Market
Market
Types
On the basis
of AREA
Family
National
Local
International
On the Basis
of Goods
Commodity
Capital
Market
On the Basis
of
Economics
Perfect
Market
Imperfect
Market
Basis of
transaction
Spot
Future

Marketing - Definition
• “Marketing is a Business Process by which products are
matched with markets and through which transfer of
ownership effected”
Cundiff & Still

Objectives - Marketing
• Satisfaction of Human Wants
• Profit Maximization
• To Develop marketing Field
• Effective distribution of products
• To find sources for further information market problems
• To take appropriate actions in the course of actions

Features of Marketing
Features
of
Marketing
Distributions
of Goods and
Services
Creation of
Utilities
Generation of
Revenue
Delivery of
Standard of
Living

Importance of Marketing
• Importance of Marketing to the Society
• Importance of Marketing to the Firm

to the Society
 Delivers the standard of living
 connects the producers and consumers
 Increases the national Income
 Provides Employment Opportunities
 Helps to maintain economic Stability.

to the Firm
• Helps in Increasing Profits
• Helps in Business planning and Decision making
• Connecting link between production and consumption
• Helps to improve productive efficiency
• creates Revenue
• Provides a channel of communication
• Increase the volume of sales

Kinds of Goods
& Services

Goods
Convenience
Goods
Shopping
Goods
Specialty
Goods
Manufactured
Goods
Consumer
Goods
Industrial
Goods
Agricultural
Goods
Consumer
Goods
Industrial
Goods
Nature of
Raw materials

Classification of
Industrial Goods
• Raw Materials
• Fabricating Materials
• Accessories
• Operating Supplies
• Industrial Services
• Process Materials

Classification of
Consumer Goods
• Convenience Goods
• Shopping Goods
• Specialty Goods

Convenience Goods
• Convenience Goods are demanded by customers
frequently in small quantities.
Examples:
News papers,
Drugs,
Soaps.

Shopping Goods
• Shopping Goods are purchased after comparison for
Price, Style, quality, Color and the Like.
• Examples:
• Ready-made Garments
• Shoes, Furniture

Specialty Goods
• Durable goods which require large investment by the
consumers.

Types of Services
• Professional Services
• Financial Advice
• Advertising
• Engineering legal & Medical
• Consumer Oriented Services
• Cleaning, Heating,
• Financing, Banking, Insurance

Evolution of Marketing Concept
• Self Sufficient stage
• Exchange Oriented Stage
• Production Oriented Stage
• Sales oriented stage
• Market oriented stage
• Social oriented stage

Social Marketing
• Survival
• Profitability
• Service
• Social Responsibility

Marketing Mix
(4 P’s of Marketing)

4 C’s of Marketing
Customer
Needs
Communication
Cost
Convenience

Is Marketing Science Or
Art???

Functions of Marketing

Kinds of Transportation
• Land Transport
• Water Transport
• Air Transport

Land Transportation
• Pathways
• Road Transport
• Tramways
• Railways
• Pipe Lines

Water Transportation
• Inland
• Ocean
• River
• Cannel
• Coastal Shipping

Air Transportation

Warehousing
• Private Warehouses
• Public warehouses
• Bonded Warehouses
• Special Commodity
• A/C Warehouses

Standardization
 A Standard is a measure that is generally accepted as
having fixed value.
 Quality Standard
 Standards of size and measurement
 Quantity standard

The Indian Standards Institute (I.S.I)
• The ISI was setup in 1987 by the Central Govt
• Preparation of Standards for the products, commodities
materials and process.
• Certification of Industrial Goods
• Formulation of Standards.
• AGMARK

Product - Meaning
• Definition
• “A Product is a bundle of physical service and symbolic
particulars expected to yield satisfactions or benefits to the
buyer”
• Philip Kotler

Features of Product
Tangibility
 Intangible attributes
 Buyers buy the benefit
 Exchange Value
 Consumer Satisfaction

Elements of Product Policy
o Product planning and development
o Product Line
o Product Mix
o Product Branding
o Product Style
o Product Positioning
o Product Packaging

Product Innovation
• Innovation is the design and development of something new as
yet unknown and not in existence,
• Factors to be considered
• Market Changes
• Changes in Technology
• Profitless price competition
• Diversification of Risk

Causes for Product
Innovation
• To meet market changes
• To adopt technological changes
• To incorporate changes in fashion
• To effect development of new product
• To meet consumer Needs
• To Face competition
• To improve product safety
• To produce goods economically

Product Life Cycle (PLC)

New Product
Development Stages
 Idea Generation
 Screening of Ideas
 Business Analysis
 Product Development
 Test Marketing
 Commercialisation

Reasons for Product
Failures??????
 Inadequate market analysis
 Product Effect
 Higher Costs
 Poor Timing
 Competition
 Inadequate sales force
 Weakness of Distribution
 Product performance may not good

Branding
• Branding is the use of a distinctive name or and mark on
a product to differentiate it from similar competitive
products.
• Branding Means naming a Product.
• Example:
• Bata Shoes.
Types of Branding:
 Individual Brand
 Family Brand Name – Godrej, TaTa
 Company Brand
 Multiple Brand
 Private Brand

Packaging
• Packaging is the subdivision of the packing function of
Marketing. Packaging means wrapping of goods before
they are Transported or stored or delivered to the
customers.
• Functions of Packaging:
 Protection
 Identification
 Convenience
 Giving Form
 Promotion

Kinds of Packaging
 Consumer Packaging
 Family Packaging
 Reuse Packaging
 Multiple packaging
 Industrial Package
 consumer Package

Pricing - Meaning
• Price Means the exchange value of a product or service in
terms of Money.
• Objectives:
• Ensuring Target return
• Market share
• Preventing competition
• Maximizing the profit
• Stabling the price
• ability of the customers

Kinds of Pricing:
 Odd Pricing
 Psychological pricing
 Customary prices
 Pricing at the prevailing prices
 Prestige pricing
 Penetration pricing
 Skimming Pricing
 Price lining
 Geographical Pricing
 Dual Pricing
 Monopoly Pricing
 Administrated Pricing

Advertising
• The word advertising is derived from the Latin word
“Adverto” ad means towards and verto means “I turn” .
• Advertising is any paid form of non-personal presentation
of ideas, goods or services by an identified sponsor. It
includes all the activities involved in presenting to a group
of persons a non personal, or visual, openly sponsored
message regarding a product.

Objectives of Advertising

Selection of Media

Sales Promotion
• “Sales Promotion means any step that are taken for
Increasing Sales”
• A.H.Delanc.

Salesmanship
• Salesmanship is the art of persuasion. It is the art of
serving the customer.

Doubts…?????????????
????

Thank You……..@!

Principles of marketing

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Principles of marketing