Marketing Management and Functions

Presented By, Bivil : Marketing management Ben : Market Research, Sales Forecasting Athiya : Advertising, Sales Promotion Ashwin : Selling, Handling Bijal : Packing, Servicing

Marketing Management

Marketing Management is the analysis, planning, implementation and control of programs designed to bring about desired exchanges with target markets for the purpose of achieving objectives of the organization.

Market Research
The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service.

Objectives of Marketing Research

To understand why customers buy a product. To forecast the probable volume of future sales. To assess competitive strengths and strategies. To evaluate the effectiveness of marketing action already taken. To assess customer satisfaction of companys products/services.

Sales Forecasting
Steps in sales forecasting
Defining the objectives to be achieved. Dividing various products into homogeneous groups. Analyzing the importance of various factors to be studied for sales forecasting. Selecting the methods. Collecting and analyzing the related information. Drawing conclusions from the analysis made. Implementing the decisions taken. Reviewing and revising the sales forecasting from time too time.

Advertising
Form of communication the purpose of which is to convey concepts about companies, goods & services by means of words, pictures etc. Arouses public interest, fosters a buying attitude & raises consumer demand for the products of a company

 Advertising
Finds new users Supports salesmen Increases profit Reaches customers who would otherwise be inaccessible by sales staff Tells the public : the good qualities

Sales Promotion
Sales promotion includes those marketing activities, other than personal selling, advertising & publicity ,that stimulate consumer purchasing & dealer effectiveness such as,displays, shows & exhibitions, demos & various nonrecurrent selling efforts not in the ordinary routine Attracts customers by providing incentives with sales Main purpose- increase sales

Selling
The last step in the chain of commerce where a buyer exchanges cash for a seller's good or service Direct Selling:
direct from producer to consumer Effective & profitable for goods which have high profit margin eg.,computers, machines Producer has max control over selling practices & policies

 Indirect Selling:
Selling through middleman For products with low profit margin eg., creams,tooth paste Avoids risks of stocking goods for the producer

Handling Of Inquiries From Customers

Inquiry handling is a key function for an inbound call center. The information center offers all the information required for the customer to have a thorough understanding of products or services. Purpose : double-check the delivery of information and qualify customers based on a proposed segmentation and customers' actual needs. The effectiveness of inquiry handling results into business generation.

 Inquiry Handling is done through:

Telephone, Website, Email Response. Handling Information Requests. Multi-language Voice Response Fulfillment. Dealer, Agent or Distributor Locator.

Packing
Packaging is the art, science & technology of preparing goods or products for transport & sale. Means of ensuring safe delivery of the product to the ultimate consumer at minimum cost. Important activity of sales promotion dept. because an attractive package catches fast attention of customers.

Servicing
Customer service may be defined as a process in which an organization consistently offers what the customer wants. Improving customer service is represented in the form of the customerservice management cycle. The various phases of this cycle include understanding customers, establishing service standards, encouraging team work and customer orientation, establishing control systems and preventing problems rather than fixing them.