Marketing Management Flashcards
Features of marketing?
A customer needs an offer to exchange his money for valuable goods
Philosophies of marketing?
Production, product, selling, marketing, societal
Functions of marketing?
IPD ka beta standards ki baat karte hue packing karne laga aur jate hue bola - mai apna brand banaunga, bhale hi mujhe uske liye support maangna pade, price kam pade. Aur Aaj dekho log uske paon padte hain promotion karwane ke liye. Gareebo mein distribution to vo aise hi kardeta hai. Transportation company ka maalik hai. Kahan vo ek samay pe warehouse mein kaam karta tha
Marketing mix (mc garthy) components or 4P’s?
Product, place, price, promotion
Decisions related to product?
Branding, packaging, labelling
Brand consists of?
A brand is a name, term, sign, symbol, design, or some combination of them, used to identify the products
Brand is a comprehensive term, which has two components - brand name and brand mark
Brand name - that part of a brand, which can be spoken is called a brand name (verbal component)
Brand mark - that part of a brand which can be recognised but which is not utterable is called brand mark
Trade mark - a brand or part of a brand that is given legal protection is called a trademark. The protection is given against its use by other firms (exclusive right)
How should branding be?
1- short and simple
2- pronounce
3- suggestive
4- unique
5- meaning in other language
Levels of packaging?
Primary, secondary, transportation
Functions of packaging?
1- protection
2- identification
3- convenience
4- promotion
5- health and sanitation
6- self service
Promote this healthy pic on @selfservice
Functions of labelling?
Apne product ki information IG mein daalo, usko describe karo, isse tumhari sales promote hone lagengi
Factors affecting price determination?
1- cost
2- competition
3- demand
4- government rules
5- method
6- objective
Different levels of distribution and middlemen?
Agent, wholesaler, retailer
Zero level, one level, two level, three level
Components of physical mix?
1- order processing
2- warehousing
3- transportation
4- inventory
Elements of promotion mix?
1- advertising
2- personal selling
3- sales promotion
4- publicity
Tools of promotion?
Advertising, personal selling, sales promotion, public relation (also referred to as the 5th P)
Benefits of advertising and personal selling?
Advertising
1- reach
2- choice
3- economy
4- legit
5- satisfaction
Personal selling
1- personal interaction
2- two way
3- better response
4- convince
5- relationship
Forms of public relations?
1- news
2- speeches
3- events
4- written materials
5- public service activities
Starting point of different marketing philosophies?
Production, product, selling - factory
Marketing - market
Societal marketing - market, society
Main focus of different marketing philosophies?
Production - quantity of product
Product - quality, performance, features
Selling - existing product
Marketing - customer needs
Societal - customer needs and society’s well being
Means of different marketing philosophies?
Production - availability and affordability of product
Product - product improvements
Selling - selling and promoting
Marketing - integrated marketing
Societal - integrated marketing
Ends of different marketing philosophies?
Production - profit though volume of production
Product - profit through product quality
Selling - profit through sales volume
Marketing - profit through consumer satisfaction
Societal - profit through customer satisfaction and social welfare
