M4 Flashcards
MARKETING
➢ Products & Services
➢ Pricing
➢ Promotion
➢ Distribution
➢ Research
○ Focus is o n product only
○ Objective is profit maximization
○ Short-term oriented
○ Less promotional activities
○ Narrow concept
TRADITIONAL CONCEPT
○ Focus is on customers’ needs and wants
○ Objective is customer satisfaction and customer
delight
○ Long term oriented
○ Sustained promotional activities
○ Broader concept
MODERN CONCEPT
HOW IS MARKETING DONE
○ Branding
○ Publicity
○ Producing
○ Promotion
○ Services
○ Advertising
○ Plan
○ Research
○ Customer
OBJECTIVE OF MARKETING
○ Satisfaction to the customer
○ Increase in demand
○ Provide better quality products to the customers ○ Create goodwill for the organization
○ Generate profitable sales volume
FUNCTIONS OF MARKETING
○ Buying
○ Selling
○ Assembling
○ Standardization
○ Grading
○ Branding
○ Transportation
○ Warehousing
○ Financing
○ Market Research
TYPES OF MARKETS
- ACCORDING TO AREA
- ACCORDING TO GOODS AND COMMODITIES
- ACCORDING TO VOLUME OF TRANSACTION
Transfer of ownership from Seller to Consumer
SALES
Targets on selling the product produced
SALES
is a part of MARKETING MAIN AIM TO EARN
PROFITS
SALES
TYPES OF SALES
- OUTSIDE
- INSIDE
gets customers and trains another sales representative to get customers
SALES REP
T/F?
“Refer a friend and you’ll receive a discount on your next purchase” is a single level marketing
F: MULTI-LEVEL
It is a wider term and includes selling also.
It covers all the activities concerned with identifying and satisfying the wants of the customer.
MARKETINF
It is only a part of the marketing process. It
is limited to exchange of goods or services for some consideration
SELLING
