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MARKETING

According to Elliott Rundle – Thiek Wallen :


“ Marketing is the activity , set of institutions , & process for creating , communicating ,
delievering & exchanging offering that have value for customers , clients , partners &
society at large .”

In addition to it PHILIP KOTLER , LINDEN BROWN , STEWART ADAM , GARY


ARMSTRONG .
“ Marketing is a social and managerial process by which individuals & groups obtain
what they need & want through creating & exchanging products and values with others.”

• MARKETING CONCEPT :
It is achieving organizational goals depending on the needs & wants of various target
market & then delivering the desired satisfaction more effectively and efficiently.

• MARKETING EVOLUTION :
It is the thought that has evolved through three successive stages of development :
Product Orientation , Sales Orientation , and Market orientation .
1.) Product Orientation : It typically focus on the quality and quantity of
offerings while assuming that customers will seek out and buy reasonably priced ,
well made products . This mindset is commonly associated with a long ago era
when the demand for goods generally exceeded the supply , and the primary focus
in business was to efficiently produce large quantities of products .
2.) Sales Orientation: It is characterized by a heavy reliance on promotional
activity to sell the products the firm wanted to make, became common. In this
stages , advertising consumed a large share of a firms resources , and sales
executives began to gain respect and responsibility from company management .
3.) Market Orientation:

Marketing is all about the understanding the needs of the customer and delivering to
the customers. For our client it is important to understand that he is targeting the
urban market where people are self sufficient to drive in the city. Here the need is not
to sell the product by bargaining on the price or by doing heavy advertisement; the
need is to make customer understand the benefits of riding bike in the city.
The value for the customer lies in the easiness of traveling from one place to other
place.
It is environmental friendly which will lead to reduction in pollution.
It will also bring health benefits to people who are time constrained to give adequate
attention to the health needs.
In addition it will also lead to reduction in traffic congestion.
Here market plays the important role in propagating the above mentioned points and
making people understand the real value of the product.

• MARKETING ETHICS :
Marketing ethics is a set of moral principles that guide attitudes & Behaviour , it is also
recommended Business ethics has been an increasing concern among larger companies,
at least since the 1990s. Major corporations increasingly fear the damage to their image
associated with press revelations of unethical practices. Marketers have been among the
fastest to perceive the market's preference for ethical companies, often moving faster to
take advantage of this shift in consumer taste. This results in the expropriation of ethics
itself as a selling point or a component of a corporate image.

• Marketing and CSR


Marketing CSR is Corporate Social Responsibility :
It means proactively promote the public interest by encouraging Community growth ,
development , Voluntarily eliminating practice that harm the public sphere , regardless
of legality . It is inclusion of public interest into corporate decision Making , and the
honoring of a triple bottom line .

• MARKETING AND LAW :


AUSTRALIAN Competition and Consumer Commission (ACCC)is the Australian
Federal Government's national agency dealing generally with competition matters and the
only agency with responsibility for enforcing Australia's Trade Practices Act and the
state/territory application legislation.
As a very brief summary, the law revolves around asking people for permission to collect
and use their information, and obligations to disclose what information is being kept and
for what purpose, and obligations relating to the correction of inaccurate or disputed
information.You should read the Privacy Commissioner's own summary - the Australian
National Privacy Principles.

Our client is proactively promoting the public interest by encouraging people to use the
bikes. The use of bikes will reduce the pollution and make environment greener.
Information of the people who will register on the website to hire the bike will be kept
confidential. The details for different payment modes will not be disclosed and misused.
Major bookings are done online where customers won’t be able to see the real product
before making the booking. Client would be able to maintain the ethical image by
delivering the promise made on online booking.

• MARKETING ENVIRONMENT :
– All of the internal and external forces that affect a marketer’s ability to
create, communicate, deliver and exchange offerings of value.
There are two major types of Marketing Environment:
Macro Environment: This includes all factors that can influence and organization, but
that are out of their direct control. A company does not generally influence any laws
(although it is accepted that they could lobby or be part of a trade organization). It is
continuously changing, and the company needs to be flexible to adapt. There may be
aggressive competition and rivalry in a market. Macro-environmental factors include:
• Political forces: These refer to government policy such as the degree of
intervention in the economy. What goods and services does a government want to
provide? To what extent does it believe in subsidizing firms? What are its priorities in
terms of business support? Political decisions can impact on many vital areas for
business such as the education of the workforce, the health of the nation and the
quality of the infrastructure of the economy such as the road and rail system.

• Economic forces: These include interest rates, taxation changes, economic


growth, inflation and exchange rates. As you will see throughout the "Foundations of
Economics" book economic change can have a major impact on a firm's behavior.
- higher interest rates may deter investment because it costs more to borrow
- a strong currency may make exporting more difficult because it may raise the
price in terms of foreign currency
- inflation may provoke higher wage demands from employees and raise costs
- higher national income growth may boost demand for a firm's products

• Sociocultural forces : . Changes in social trends can impact on the demand for
a firm's products and the availability and willingness of individuals to work. In the
UK, for example, the population has been ageing. This has increased the costs for
firms who are committed to pension payments for their employees because their staff
are living longer. It also means some firms such as Asda have started to recruit older
employees to tap into this growing labour pool. The ageing population also has
impact on demand: for example, demand for sheltered accommodation and medicines
has increased whereas demand for toys is falling.

• Technological forces : Technology can reduce costs, improve quality and lead
to innovation. These developments can benefit consumers as well as the organisations
providing the products.

• Legal Forces :These are related to the legal environment in which firms
operate. The introduction of age discrimination and disability discrimination
legislation, an increase in the minimum wage and greater requirements for firms to
recycle are examples of relatively recent laws that affect an organisation's actions.
Legal changes can affect a firm's costs (e.g. if new systems and procedures have to be
developed) and demand (e.g. if the law affects the likelihood of customers buying the
good or using the service).

• Micro Environment : This environment influences the organization directly.


It includes suppliers that deal directly or indirectly, consumers and customers, and
other local stakeholders. Micro tends to suggest small, but this can be misleading. In
this context, micro describes the relationship between firms and the driving forces
that control this relationship. It is a more local relationship, and the firm may exercise
a degree of influence.

1.) Customers : Organisations survive on the basis of meeting the needs, wants and
providing benefits for their customers. Failure to do so will result in a failed
business strategy.

2.) Employees : Employing the correct staff and keeping these staff motivated is an
essential part of the strategic planning process of an organisation. Training and
development plays an essential role particular in service sector marketing in-order
to gain a competitive edge.

3.) Suppliers : Increase in raw material prices will have a knock on affect on the
marketing mix strategy of an organisation. Prices may be forced up as a result.
Closer supplier relationships is one way of ensuring competitive and quality
products for an organisation.

4.) Shareholders : As organisation require greater inward investment for growth they
face increasing pressure to move from private ownership to public. However this
movement unleashes the forces of shareholder pressure on the strategy of
organisations. Satisfying shareholder needs may result in a change in tactics
employed by an organisation. Many internet companies who share prices rocketed
in 1999 and early 2000 have seen the share price tumble as they face pressures
from shareholders to turn in a profit. In a market which has very quickly become
overcrowded many havel failed.

5.) Media : Positive or adverse media attention on an organisations product or service


can in some cases make or break an organisation.. Consumer programmes with a
wider and more direct audience can also have a very powerful and positive
impact, hforcing organisations to change their tactics.

6.) Competitors: The name of the game in marketing is differentiation. What benefit
can the organization offer which is better then their competitors. Can they sustain
this differentiation over a period of time from their competitors?. Competitor
anlaysis and monitoring is crucial if an organization is to maintain its position
within the market.

• Internal Environment: All factors that are internal to the organization are
known as the 'internal environment'. They are generally audited by
applying the 'Five Ms' which are Men, Money, Machinery, Materials and
Markets. The internal environment is as important for managing change as
the external. As marketers we call the process of managing internal change
'internal marketing.'

Macro Environment:
• Political forces: Government representatives would be supportive for this
idea as the value of this customer lie not only in just selling the bike but in the
additional benefits which bike usage will bring to environment and the customers.

Economic forces: In terms of economy, the consumers would be able to save on their
expenses on fuel. It will also help the government to reduce the fuel consumption, which
is non renewable source of energy. Fuel could be used in other better alternative.

• Sociocultural forces :
In urban era people don’t have time to give adequate concentration on their health. This
idea will help people to utilize the time in more efficient manner and combine work with
fitness.

• Micro Environment :
Customers: Our client product meets the need of the customers who are time constraint
and health. Employees & Suppliers will feel proud to
Employees:
Suppliers:
Shareholders:
Media:
Competitors:

• Internal Environment:

REFERNCES