M4 Flashcards
(30 cards)
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
It focuses on the needs of the customers
MARKETING
It focuses on transfer of title of goods from
sellers to buyers
SELLING
It aims to earn profits through customer
satisfaction
MARKETING
It aims to maximize profit through increase
in sales volume
SELLING
It starts much before production and
continues after sale
MARKETING
It starts after production and ends with the
sale of product
SELLING
It involves strategies like product
promotion, pricing, and distribution
MARKETING
It involves efforts like promotion and
persuasion for selling the product
SELLING
It emphasizes on development of product
accordion to customers’ needs
MARKETING
