A S S I GN M E N T 2011- 2012 S U BJ E C T : M A R K E T I N G M A N A G E ME N T T OP IC : MA R KE TI NG A N D I TS S C OP E F A C UL T Y: MR .

U L L AS RA MA KR IS H N AN DA TE : 2 6- 04- 11

SUBMITTED BY ANTONY JOSE 2ND SEM MBA, IIPS

INTRODUCTION:

Market is the root word in the term marketing. the word market is derived from the Latin word marcatus which means merchandise, trade or a place where goods are bought and sold. In ordinary language, the term market means a place where goods are bough and sold. But this t definition is no more valid in the modern marketing terminology. Today marketing has grown to become a mass social event. The distance between marketer and consumer has increased many a mile. Hence there is hardly any personal interaction between the marketer and consumer in the exchange of goods and services. Due to the advent of internet and e-commerce technology, it has become a virtual world and marketing happens more in space than in a geographical place. New forms of intermediaries are emerging. So now market can be defined as a set of consumers, potential consumers, past consumers, sellers, resellers and intermediaries who are either involved in the process of exchange or are in the process of getting involved in an exchange pro cess. The term market can be mathematically defined as follows; Market=people*purchasing power*willingness to buy, thus market consist of people with wants, purchasing power and the willingness to utilise the purchasing power.

The marketing concept emerged in the in the mid-1950s and challenged the preceding concepts. Instead of a product centred, make and-sell philosophy, we shift to a customer centred, senseand- respond philosophy. Instead of hunting, marketing is gardening. The job is not to find the right customers for your product, but the right products for your customers. The marketing concept hold that the key to achieving its organisational goals consists of the company being more effective than competitors in creating, delivering, and communicating superior customer value to its chosen target markets. It crystallized in the mid1950s and has been expressed in many colourful ways:

       

Meeting the needs profitably. Find wants and fill them. Love the customer, not the product. Have it your way.(burger king) Youre the boss.(united airlines) Putting people first.(British airlines) Partners for profit.(Milliken & company)

DEFINITION:
Marketing has been defined by the American Marketing Association as the performance of business activities that direct the flow of goods and services from producer to consumer or user.

In the words of Philip kotler,marketing is the human activity directed at satisfying needs and wants through an exchange process

The marketing concepts rest on four pillars: target market, customer needs, integrated marketing, and profitability. In fact, there are five competing concepts under which organizations conduct marketing activities: production concept, product concept, selling concept, marketing concept, and societal marketing concept. The production concept, one of the oldest in business, holds that consumers prefer products that are widely available and inexpensive. Managers of production-oriented businesses concentrate on achieving high production efficiency, low costs, and mass distribution. The product concept, which holds that consumers favour those products that offer the most quality, performance, or innovative features. Managers in these organizations focus on making superior products and improving them over time, assuming that buyers can appraise quality and performance The selling concept, another common business orientation, holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organizations products. The organization must, therefore, undertake an aggressive selling and promotion effort. The marketing concept holds that the key to achieving organizational goals consists of the company being more effective than its competitors in creating, delivering, and communicating customer value to its chosen target markets. Marketing managers face a host of decisions from major ones such as what product features to design into a new product, how many sales people to hire, or packaging. The marketing memo: marketers frequently asked questions lists many of the questions marketing managers ask, these questions vary in importance in different market palaces. Consider the following four markets y y y y Consumer markets Business markets Global markets Non-profit &government markets

MARKE I G AS AN
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and staff, ut they are also integrated within the organi ation as a whole. arketing and other functional units within the organi ation.

arketing cannot operate

MARKETING TASKS:
A recent ook, Radical Marketing, praises companies such as arley -Davidson for succeeding y

reaking all of the rules of marketing. Instead of commissioning expensive marketing research,

spending huge sums on advertis ing and operating large marketng departments, these companies i stretch their limited resources, live close to their customers, and create more satisfying solutions to uality products to win long-term customer loyalty. It seems that not all marketing must follow the P& hey form

model. In fact, we can distinguish three stages through which marketing practice mightpass: opportunity and knock on every door to gain attention. Jim Koch, founder of BostonBeer whose Samuel Adams beer has become a top-selling craft beer, started out in of Samuel Adams from bar to bar to persuade bartenders to carry it. making it the leader in the U.S. craft beer market.

ompany,

84 carrying bottles

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through direct selling and grassroots public relations. oday his business pulls in nearly $2

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years, he sold his beer million,

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: Most companies are started by individuals who visuali e an

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customers needs.

uyers clubs, use creative public relations, and focus on del ivering

without finance, operations,

and other functions within an organi ation. he linkage etween

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tional nits within an organi ation. Each nit has separate f nctions, procedures


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2. Formulated marketing: As small companies achieve success, they inevitably move toward more formulated marketing. Boston Beer recently began a 15 million television advertising campaign. The company now employs more than 175 salespeople and have a marketing department that carries on market research, adopting some of the tools used in professionally run marketing companies. 3. Intrepreneurial marketing: Many large companies get stuck in formulated marketing, poring over the latest ratings, scanning research reports, trying to fine-tune dealer relations and advertising messages. These companies lack the creativity and passion of the guerrilla marketers in the entrepreneurial stage. Their brand and product managers need to start living with their customers and visualizing new ways to add value to their customers lives. The bottom line is that effective marketing can take many forms. Although it is easier to learn the formulated side, we will also see how creativity and passion can be used by todays and tomorrows marketing managers.

NATURE OF MARKETIN :
The following characteristics of marketing which indicate its nature: 1. Marketing is a goal oriented process. . Marketing deals with products, distribution, promotion and pricing. . Marketing focuses on goods, services and ideas.

3. Marketing is the creation of utilities. 5. Marketing intends to satisfy and delight the customer. 6. Marketing focuses on delivering value to the customers. 7. Marketing is surrounded by needs. . Marketing is business and business is marketing. 9. Marketing is process of exchange. 10. Marketing is universal function. 11. Marketing is a societal process. 1 . Marketing takes place in a dynamic environment.

THE SCOPE OF MARKETIN :

Marketing people are involved in marketing 10 types of entities: goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. oods: Physical goods constitute the bulk of most countries production and marketing effort. The

nited States produces and markets billions of physical goods, from eggs to steel to hair dryers. In

developing nations, goods particularly food, commodities, clothing, and housingare the mainstay of the economy. Services: As economies advance, a growing proportion of their activities are focused on the production of services. The .S. economy today consists of a 7030 services-to-goods mix. Services

D E F G H

include airlines, hotels, and maintenance and repair people, as well as professionals such as accountants, lawyers, engineers, and doctors. Many market offerings consist of a variable mix of goods and services. Experience: By orchestrating several services and goods, one can create, stage, and market

Events: Marketers promote time-based events, such as the Olympics, trade shows, sports events, and artistic performances. Persons: Celebrity marketing has become a major business. Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals draw help from celebrity marketers. Places: Cities, states, regions, and nations compete to attract tourists, factories, company headquarters, and new residents.5 Place marketers include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies. Properties: Properties are intangible rights of ownership of either real property (real estate) or financial property (stocks and bonds). Properties are bought and sold, and this occasions a marketing effort by real estate agents (for real estate) and investment companies and banks (for securities). Organizations: Organizations actively work to build a strong, favourable image in the mind of their publics. Philips, the Dutch electronics company, advertises with the tag line, Lets Make Things Better. The Body Shop and Ben & Successfully for audiences and funds. Information. The production, packaging, and distribution of information is one of societys major industries. Among the marketers of information are schools and universities; publishers of encyclopaedias, nonfiction books, and specialized magazines; makers of CDs; and Internet Web sites. Ideas: Every market offering has a basic idea at its core. In essence, products and services are platforms for delivering some idea or benefit to satisfy a core need. niversities, museums, and performing arts organizations boost their public images to compete more

errys also gain attention by promoting social causes.

CONCLUSION:
This has briefly considered some of the developmental aspects of marketing, the organisation of marketing, who is involved in the marketing function, and possible future trends. It has stated that marketing is an amalgamation of various disciplines, so it is dependent on research and development

experiences. Walt Disney Worlds Magic Kingdom is an experience; so is the Hard

ock Cafe.

in many disparate subject areas in order for it to evolve further. Equally, marketers must accept that they too need to explore other disciplines, not only to further the subject but to see how their organisation will compete in the future.

REFERENCE:

 http://marketingforbeginner.blogspot.com/2008/01/scope-of-marketing.htm
 http://www.palgrave.com/pdfs/1403903271.pdf

 Marketing

management,

author

A.Vinod

published

by

Calicut

university central co -operative stores ltd. No.4337