MARKETING INTRODUCTION: In recent years, attention to social and environmental issues in product marketing has become a mainstream practice

and offers opportunities for firms to differentiate themselves in the market. Popular examples abound: organic produce, hybrid cars, and fair trade coffee, to name just a few. While business coursework is uickly following practice in the field, our data show that a critical examination of the social impact of marketing is limited in some instances to issues of legality and ethics. When ethical concerns are raised, they are commonly discussed in the context of avoiding harmful marketing practices, especially prohibitive product pricing and deceptive advertising. !n the other hand, international marketing classes do a good job of discussing socio" cultural considerations in the analysis of new target markets. It is noteworthy that a handful of #$% programs offer courses specifically addressing &social marketing'( that is, using concepts from commercial marketing, such as the traditional &four P)s' marketing mix *i.e., Product, Place, Promotion, and Pricing+, to bring about social change. %lso, academic research has highlighted the use of, and further potential for, social marketing for environmental causes., % few of these forward"looking strategic marketing courses are highlighted in the &notable coursework' section below.

Marketing is the process by which companies create customer interest in goods or services. It generates the strategy that underlies sales techni ues, business communication, and business developments.-,. It is an integrated process through which companies build strong customer relationships and creates value for their customers and for themselves.-,. #arketing is used to identify the customer, to satisfy the customer, and to keep the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. #arketing evolved to meet the stasis in developing new markets caused by mature markets and overcapacities in the last /"0 centuries.-citation needed. 1he adoption of marketing strategies re uires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable.-citation needed. 1he term marketing concept holds that achieving organi2ational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions.-/. It proposes that in order to satisfy its organi2ational objectives, an organi2ation should anticipate the needs and wants of consumers and satisfy these more effectively than competitors Further definitions #arketing is defined by the %merican #arketing %ssociation *%#%+ as "the activity, set of institutions, and processes for

creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."-0. 1he term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. 3een from a systems point of view, sales process engineering views marketing as "a set of processes that are interconnected and interdependent with other functions, [4] whose methods can be improved using a variety of relatively new approaches." 1he 4hartered Institute of #arketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably." -5. % different concept is the value based marketing which states the role of marketing to contribute to increasing shareholder value.-6. In this context, marketing is defined as "the management process that seeks to maximise advantage."-6. #arketing practice tended to be seen as a creative industry in the past, which included of advertising, sciences, distribution and selling. 7owever, because the academic study of marketing makes extensive use social psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recogni2ed as a science, allowing numerous universities to offer #aster"of"3cience *#3c+ returns to shareholders by developing relationships with valued customers and creating a competitive

programmes. 1he overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and post"sales promotional activities. It is also related to many of the creative arts. 1he marketing literature is also adept at re"inventing itself and its vocabulary according to the times and the culture. Customer orientation % firm in the market economy survives by producing goods that persons are willing and able to buy. 4onse uently, ascertaining consumer demand is vital for a firm8s future viability and even existence as a going concern. #any companies today have a customer focus *or market orientation+. 1his implies that the company focuses its activities and products on consumer demands. 9enerally there are three ways of doing this: the customer"driven approach, the sense of identifying market changes and the product innovation approach. In the consumer"driven approach, consumer wants are the drivers of all strategic marketing decisions. :o strategy is pursued until it passes the test of consumer research. ;very aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. 1he starting point is always the consumer. 1he rationale for this approach is that there is no point spending <=> funds developing products that people will not buy. 7istory attests to many products that

were

commercial

failures

in

spite

of

being

technological

breakthroughs.-,?. % formal approach to this customer"focused marketing is known as SIVA-,,. *3olution, Information, @alue, %ccess+. 1his system is basically the four Ps renamed and reworded to provide a customer focus. 1he 3I@% #odel provides a demandAcustomer centric version alternative to the well"known BPs supply side model *product, price, placement, promotion+ of marketing management. 3olution Product @alue Price %ccess Place Promotion Information If any of the BPs had a problem or were not there in the marketing factor of the business, the business could be in trouble and so other companies may appear in the surroundings of the company, so the consumer demand on its products will become less. Organi ationa! orientation In this sense, a firm8s marketing department is often seen as of prime importance within the functional level of an organi2ation. Information from an organi2ation8s marketing department would be used to guide the actions of other departments within the firm. %s an example, a marketing department could ascertain *via marketing research+ that consumers desired a new type of product, or a new usage for an existing product. With this in

mind,

the

marketing

department

would

inform

the

<=>

department to create a prototype of a productAservice based on consumers8 new desires. 1he production department would then start to manufacture the product, while the marketing department would focus on the promotion, distribution, pricing, etc. of the product. %dditionally, a firm8s finance department would be consulted, with respect to securing appropriate funding for the development, production and promotion of the product. Inter"departmental conflicts may occur, should a firm adhere to the marketing orientation. Production may oppose the installation, support and servicing of new capital stock, which may be needed to manufacture a new product. Cinance may oppose the re uired capital expenditure, since it could undermine a healthy cash flow for the organi2ation. "erd #eha$ior Herd behavior in marketing is used to explain the dependencies of customers8 mutual behavior. !he "conomist reported a recent conference in <ome on the subject of the simulation of adaptive human behavior.-,/. It shared mechanisms to increase impulse buying and get people Dto buy more by playing on the herd instinct.D 1he basic idea is that people will buy more of products that are seen to be popular, and several feedback mechanisms to get product popularity information to consumers are mentioned, including smart card technology and the use of <adio Cre uency Identification 1ag technology. % Dswarm"movesD model was

introduced by a Clorida Institute of 1echnology researcher, which is appealing to supermarkets because it can Dincrease sales without the need to give people discounts.D!ther recent studies on the Dpower of social influenceD include an Dartificial music market in which some ,E,??? people downloaded previously unknown songsD *4olumbia Fniversity, :ew Gork+( a Hapanese chain of convenience stores which orders its products based on Dsales data from department stores and research companies(D a #assachusetts company exploiting knowledge of social networking to improve sales( and online retailers who are increasingly informing consumers about Dwhich products are popular with like"minded consumersD *e.g., %ma2on, e$ay+. Further orientations

%n emerging area of study and practice concerns internal marketing, or how employees are trained and managed to deliver the brand in a way that positively impacts the ac uisition and retention of customers, see also employer branding. #iffusion of innovations research explores how and why people adopt new products, services and ideas. With consumers8 eroding attention span and willingness to give time to advertising messages, marketers are turning to forms of permission marketing such as branded content, custom media and reality marketing.

T"E %OTTOM &INE: %ccording to >r. $ruce 7utton, several years ago topics related to the environment and social issues were considered &add"ons' and were included at the end of marketing texts. :ow, these issues are better integrated throughout such texts. 1here are many social impact management topics in marketing that are worthy of inclusion into coursework. ;xamples include the impacts of product development, design, and pricing decisions on both consumers and business sustainability, as well as the impacts of &niche marketing' on both target markets and sustainable competitive 'or(orate strateg)* #arketing is an ongoing process of planning and executing the marketing mix *Product, Price, Place, Promotion often referred to as the B Ps+ for products, services or ideas to create exchange between individuals and organi2ations. #arketing tends to be seen as a creative industry, which includes advertising, distribution and selling. It is also concerned with anticipating the customers8 future needs and wants, which are often discovered through market research.

;ssentially, marketing is the process of creating or directing an organi2ation to be successful in selling a product or service that people not only desire, but are willing to buy. 1herefore good marketing must be able to create a DpropositionD or set of benefits for the end customer that delivers value through products or services. % market"focused, or customer"focused, organi2ation first determines what its potential customers desire, and then builds the product or service. #arketing theory and practice is justified in the belief that customers use a product or service because they have a need, or because it provides a perceived benefit. 1wo major factors of marketing are the recruitment of new customers *ac uisition+ and the retention and expansion of relationships with existing customers *base management+. !nce a marketer has converted takes the prospective buyer, base base management marketing over. 1he process for

management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, and improving the productAservice continuously to protect the business from competitive encroachments. Cor a marketing plan to be successful, the mix of the four DPsD must reflect the wants and desires of the consumers or 3hoppers in the target market. 1rying to convince a market segment to buy something they don8t want is extremely expensive and seldom successful. #arketers depend on insights from marketing

research, both formal and informal, to determine what consumers want and what they are willing to pay for. #arketers hope that this process will give them a sustainable competitive advantage. #arketing management is the practical application theory. 1he %merican #arketing %ssociation *%#%+ states, D#arketing is an organi2ational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organi2ation and its stakeholders. #arketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. %nthropology is also a small, but growing influence. #arket research underpins these activities. 1hrough advertising, it is also related to many of the creative arts. #arketing is a wide and heavily interconnected subject with extensive publications. It is also an area of activity infamous for re"inventing itself and its vocabulary according to the times and the culture. Marketing (!an % marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or service, a brand, or a product line. #arketing plans cover between one and five years. of this process. 1he offer is also an important addition to the BP8s

% marketing plan may be part of an overall business plan. 3olid marketing strategy is the foundation of a well"written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use. The marketing (!anning (ro'ess In most organi2ations, Dstrategic planningD is an annual process, typically covering just the year ahead. !ccasionally, a few organi2ations may look at a practical plan which stretches three or more years ahead. 1o be most effective, the plan has to be formali2ed, usually in written form, as a formal Imarketing plan8. 1he essence of the process is that it moves from the general to the specific( from the overall objectives of the organi2ation down to the individual action plan for a part of one marketing programme. It is also an interactive process, so that the draft output of each stage is checked to see what impact it has on the earlier stages " and is amended accordingly Marketing (!anning aims and o#+e'ti$es $ehind the corporate objectives, which in themselves offer the main context for the marketing plan, will lay the 8corporate mission8( which in turn provides the context for these corporate objectives. 1his Icorporate mission8 can be thought of as a definition of what the organi2ation is( of what it does: 8!ur business is J8.

1his definition should not be too narrow, or it will constrict the development of the organi2ation( a too rigorous concentration on the view that IWe are in the business of making meat"scales8, as I$# was during the early ,E??s, might have limited its subse uent development into other areas. !n the other hand, it should not be too wide or it will become meaningless( IWe want to make a profit8 is not too helpful in developing specific plans. %bell suggested that the definition should cover three dimensions: 8customer groups8 to be served, 8customer needs8 to be served, and 8technologies8 to be utili2ed -,.. 1hus, the definition of I$#8s Icorporate mission8 in the ,EB?s might well have been: IWe are in the business of handling accounting information -customer need. for the larger F3 organi2ations -customer group. by means of punched cards -technology..8 Perhaps the most important factor in successful marketing is the Icorporate vision8. 3urprisingly, it is largely neglected by marketing textbooks( although not by the popular exponents of corporate strategy " indeed, it was perhaps the main theme of the book by Peters and Waterman, in the form of their I3uperordinate 9oals8. 8In 3earch of ;xcellence8 said: D:othing drives progress like the imagination. 1he idea precedes the deed.D -/. If the organi2ation in general, and its chief executive in particular, has a strong vision of where its future lies, then there is a good chance that the organi2ation will achieve a strong position in its markets *and attain that future+. 1his will be not

least because its strategies will be consistent( and will be supported by its staff at all levels. In this context, all of I$#8s marketing activities were underpinned by its philosophy of Icustomer service8( a vision originally promoted by the charismatic Watson dynasty. 1he emphasis at this stage is on obtaining a complete and accurate picture. In a single organi2ation, however, it is likely that only a few aspects will be sufficiently important to have any significant impact on the marketing plan( but all may need to be reviewed to determine just which 8are8 the few. In this context some factors related to the customer, which should be included in the material collected for the audit, may be: Who are the customersK What are their key characteristicsK What differentiates them from other members of the populationK What are their needs and wantsK What do they expect the Iproduct8 to doK What are their special re uirements and perceptionsK What do they think of the organi2ation and its products or servicesK What are their attitudesK What are their buying intentionsK % Itraditional8 " albeit product"based " format for a Ibrand reference book8 *or, indeed, a Imarketing facts book8+ was suggested by 9odley more than three decades ago:

Cinancial data ""Cacts for this section will come from management accounting, costing and finance sections. Product data ""Crom production, research and development. 3ales and distribution data " 3ales, packaging, distribution sections. %dvertising, sales promotion, merchandising data " Information from these departments. #arket data and miscellany " Crom market research, who would in most cases act as a source for this information. 7is sources of data, however, assume the resources of a very large organi2ation. In most organi2ations they would be obtained from a much smaller set of people *and not a few of them would be generated by the marketing manager alone+. It is apparent that a marketing audit can be a complex process, but the aim is simple: 8it is only to identify those existing *external and internal+ factors which will have a significant impact on the future plans of the company8. It is clear that the basic material to be input to the marketing audit should be comprehensive. %ccordingly, the best approach is to accumulate this material continuously, as and when it becomes available( since this avoids the otherwise heavy workload involved in collecting it as part of the regular, typically annual, planning process itself " when time is usually at a premium. ;ven so, the first task of this Iannual8 process should be to check that the material held in the current Ifacts book8 or Ifacts files8

actually 8is8 comprehensive and accurate, and can form a sound basis for the marketing audit itself. 1he structure of the facts book will be designed to match the specific needs of the organi2ation, but one simple format " suggested by #alcolm #c>onald " may be applicable in many cases. 1his splits the material into three groups: 8<eview of the marketing environment8. % study of the organi2ation8s markets, customers, competitors and the overall economic, political, cultural and technical environment( covering developing trends, as well as the current situation. 8<eview of the detailed marketing activity8. % study of the company8s marketing mix( in terms of the L Ps " *see below+ 8<eview of the marketing system8. % study of the marketing organi2ation, marketing research systems and the current marketing objectives and strategies. 1he last of these is too fre uently ignored. 1he marketing system itself needs to be regularly uestioned, because the validity of the whole marketing plan is reliant upon the accuracy of the input from this system, and Igarbage in, garbage out8 applies with a vengeance. 8Portfolio planning8. In addition, the coordinated planning of the individual products and services can contribute towards the balanced portfolio. 8M?:/? rule8. 1o achieve the maximum impact, the marketing plan must be clear, concise and simple. It needs to concentrate on the

/? per cent of products or services, and on the /? per cent of customers, which will account for M? per cent of the volume and M? per cent of the Iprofit8. 8L Ps8: Product, Place, Price and Promotion, Physical ;nvironment, People, Process. 1he L Ps can sometimes divert attention from the customer, but the framework they offer can be very useful in building the action plans. It is only at this stage *of deciding the marketing objectives+ that the active part of the marketing planning process begins8. 1his next stage in marketing planning is indeed the key to the whole marketing process. 1he marketing objectives state just where the company intends to be( at some specific time in the future. Hames Nuinn succinctly defined objectives in general as: D9oals *or objectives+ state 8what8 is to be achieved and 8when8 results are to be accomplished, but they do not state 8how8 the results are to be achievedD.-0. 1hey typically relate to what products *or services+ will be where in what markets *and must be realistically based on customer behaviour in those markets+. 1hey are essentially about the match between those 8products8 and 8markets8. !bjectives for pricing, distribution, advertising and so on are at a lower level, and should not be confused with marketing objectives. 1hey are part of the marketing strategy needed to achieve marketing objectives.

1o

be

most

effective,

objectives

should

be

capable

of

measurement and therefore 8 uantifiable8. 1his measurement may be in terms of sales volume, money value, market share, percentage penetration of distribution outlets and so on. %n example of such a measurable marketing objective might be Ito enter the market with product G and capture ,? per cent of the market by value within one year8. %s it is necessary. 1he marketing objectives must usually be based, above all, on the organi2ation8s financial objectives( converting these financial measurements into the related marketing measurements. 7e went on to explain his view of the role of Ipolicies8, with which strategy is most often confused: DPolicies are rules or guidelines that express the 8limits8 within which action should occur. 3implifying somewhat, marketing strategies can be seen as the means, or Igame plan8, by which marketing objectives will be achieved and, in the framework that we have chosen to use, are generally concerned with the L Ps. ;xamples are: Price" 1he amount of money needed to buy products Product" 1he actual product Promotion *advertising+" 9etting the product known Placement" Where the product is located People" <epresent the business uantified it can, within limits, be une uivocally monitored( and corrective action taken as

Physical environment" 1he ambience, mood, or tone of the environment Process" 7ow do people obtain your product In principle, these strategies describe how the objectives will be achieved. 1he L Ps are a useful framework for deciding how the company8s resources will be manipulated *strategically+ to achieve the objectives. It should be noted, however, that they are not the only framework, and may divert attention from the real issues. 1he focus of the strategies must be the objectives to be achieved " not the process of planning itself. !nly if it fits the needs of these objectives should you choose, as we have done, to use the framework of the L Ps. 1he strategy statement can take the form of a purely verbal description of the strategic options which have been chosen. %lternatively, and perhaps more positively, it might include a structured list of the major options chosen. !ne aspect of strategy which is often overlooked is that of 8timing8. ;xactly when it is the best time for each element of the strategy to be implemented is often critical. 1aking the right action at the wrong time can sometimes be almost as bad as taking the wrong action at the right time. 1iming is, therefore, an essential part of any plan( and should normally appear as a schedule of planned activities. 7aving completed this crucial stage of the planning process, you will need to re"check the feasibility of your objectives and

strategies in terms of the market share, sales, costs, profits and so on which these demand in practice. %s in the rest of the marketing discipline, you will need to employ look at your conclusions from all possible angles Con'e(t of Marketing #arketingD is an instructive business domain that serves to inform and educate target markets about the value and competitive advantage of a company and its products. &@alue' is worth derived by the customer from owning and using the product. &4ompetitive %dvantage' is a depiction that the company or its products are each doing something better than their competition in a way that could benefit the customer. #arketing is focused on the task of conveying pertinent company and product related information to specific customers, and there are a multitude of decisions *strategies+ to be made within the marketing domain regarding what information to deliver, how much information to deliver, to whom to deliver, how to deliver, when to deliver, and where to deliver. !nce the decisions are made, there are numerous ways *tactics+ and processes that could be employed in support of the selected strategies. %s #arketing is often misinterpreted as just advertising or sales, 4hris :ewton, in What is marketingK *#arketing 7elp !nline, /??M+, defined marketing as every strategy and decision made in the following twelve areas: judgement, experience, market research or anything else which helps you to

Identifying and uantifying the need in the marketplace Identifying and uantifying the target markets Identifying the optimum cost effective media O online and offline " to reach the target markets <eviewing the priorities of the product offering in your overall product mix Pmatrix) Identifying and developing the most effective distribution channels, be they wholesaler networks, partnering alliances, franchising, or any number of conduits to the market. 1esting different ways of packaging the concepts or products to find their most 8easy"to"sell8 form 1esting to find the optimum pricing strategies >eveloping advertising strategies Marketing resear'h #arketing research involves conducting research to support marketing activities, and the statistical interpretation of data into information. 1his information is then used by managers to plan marketing activities, gauge the nature of a firm8s marketing environment and attain information from suppliers. #arketing researchers use statistical methods such as regression, correlations, fre uency uantitative research, poisson ualitative research, hypothesis tests, 4hi"s uared tests, linear distributions, distributions, binomial distributions, etc. to interpret their findings effective and promotional strategies offers, and and effective launch supporting collateral,

and convert data into information. 1he marketing research process spans a number of stages including the definition of a problem, development of a research plan, collecting and interpretation of data and disseminating information formally in form of a report. 1he task of marketing research is to provide management with relevant, accurate, reliable, valid, and current information. % distinction should be made between marketing research and market research. #arket research pertains to research in a given market. %s an example, a firm may conduct research in a target market, after selecting a suitable market segment. In contrast, marketing research relates to all research conducted within marketing. 1hus, market research is a subset of marketing research. Marketing en$ironment Market segmentation #arket segmentation pertains to the division of a market of consumers into persons with similar needs and wants. %s an example, if using Qellogg8s cereals in this instance, Crosties are marketed to children. 4runchy :ut 4ornflakes are marketed to adults. $oth goods aforementioned denote two products which are marketed to two distinct groups of persons, both with like needs, traits, and wants.

1he purpose for market segmentation is conducted for two main issues. Cirst, a segmentation allows a better allocation of a firm8s finite resources. % firm only possesses a certain amount of resources. %ccordingly, it must make choices *and appreciate the related costs+ in servicing specific groups of consumers. Curthermore the diversified tastes of the contemporary Western consumers can be served better. With more diversity in the tastes of modern consumers, firms are taking note of the benefit of servicing a multiplicity of new markets. #arket segmentation can be defined in terms of the STP acronym, meaning Segment, Target and Position. T)(es of marketing resear'h #arketing research, as a sub"set aspect of marketing activities, can be divided into the following parts:

Primary research *also known as field research+, which involves the conduction and compilation of research for the purpose it was intended. 3econdary research *also referred to as desk research+, is initially conducted for one purpose, but often used to support another purpose or end goal.

$y these definitions, an example of primary research would be market research conducted into health foods, which is used solely to ascertain the needsAwants of the target market for health foods. 3econdary research, again according to the above

definition, would be research pertaining to health foods, but used by a firm wishing to develop an unrelated product. Primary research is often expensive to prepare, collect and interpret from data to information. :onetheless, while secondary research is relatively inexpensive, it often can become outdated and outmoded, given it is used for a purpose other than for which is was intended. Primary research can also be broken down into uantitative research and ualitative research, which as the labels suggest, pertain to numerical and non"numerical research methods, techni ues. 1he appropriateness of each mode of research depends on whether data can be uantified * uantitative research+, or whether subjective, non"numeric or abstract concepts are re uired to be studied * ualitative research+. 1here also exists additional modes of marketing research, which are:

;xploratory

research,

pertaining

to

research

that

investigates an assumption.

>escriptive research, which as the label suggests, describes Dwhat isD. Predictive research, meaning research conducted to predict a future occurrence. 4onclusive research, for the purpose of deriving a conclusion via a research process.

De$e!o(ing and do'umenting the sa!es (ro'ess Cinding the optimum execution of the sales process O through testing of selling scripts, people selection, supporting collateral, skills and attitudinal training, tracking, measuring and refining ;nsuring capacities >eveloping nurture programs to optimise the lifetime value of the customer 1he goal of marketing is to build and maintain a preference for a company and its products within the target markets. 1he goal of any business is to build mutually profitable and sustainable relationships with its customers. While all business domains are responsible for accomplishing this goal, the marketing domain bears a significant share of the responsibility. Within the larger scope of its definition, marketing is performed through the actions of three coordinated disciplines named: &Product #arketing', &4orporate #arketing', and &#arketing 4ommunications Marketing resear'h #arketing research, or market research, is a form of business research and is generally divided into two categories: consumer market research and business"to"business *$/$+ market research, which was previously known as industrial marketing research. 4onsumer marketing research studies the buying habits of individual people while business"to"business marketing that sales projections reflect realistic production

research investigates the markets for products sold by one business to another. 4onsumer market research is a form of applied sociology that concentrates on understanding the behaviours, whims and preferences, of consumers in a market"based economy, and aims to understand the effects and comparative success of marketing campaigns. 1he field of consumer marketing research as a statistical science was pioneered by %rthur :ielsen with the founding of the %4:ielsen 4ompany in ,E/0-citation needed.. 1hus marketing research is the systematic and and objective of identification, collection, analysis, dissemination

information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing Marketing resear'h 'hara'teristi's Cirst, marketing research is systematic. 1hus systematic planning is re uired at all the stages of the marketing research process. 1he procedures followed at each stage are methodologically sound, well documented, and, as much as possible, planned in advance. #arketing research uses the scientific method in that data are collected and analy2ed to test prior notions or hypotheses.-/. #arketing research is objective. It attempts to provide accurate information that reflects a true state of affairs. It should be conducted impartially. While research is always influenced by the

researcher8s research philosophy, it should be free from the personal or political biases of the researcher or the management. <esearch which is motivated by personal or political gain involves a breach of professional standards. 3uch research is deliberately biased so as to result in predetermined findings. 1he motto of every researcher should be, DCind it and tell it like it is.D 1he objective nature of marketing research underscores the importance of ethical considerations, which are discussed later in the chapter.-/. #arketing research involves the identification, collection, analysis, and dissemination of information. ;ach phase of this process is important. We identify or define the marketing research problem or opportunity and then determine what information is needed to investigate it., and inferences are drawn. Cinally, the findings, implications and recommendations are provided in a format that allows the information to be used for management decision making and to be acted upon directly. It should be emphasi2ed that marketing research is conducted to assist management in decision making and is not: a means or an end in itself. 1he next section elaborates on this definition by classifying different types of marketing research. %,C #u)ing #eha$iour 1his mode of behaviour concerns consumers, in the purchase of a given product. %s an example, if one pictures a pair of sneakers, the desire for a pair of sneakers would be followed by an

information search on available typesAbrands. 1his may include perusing media outlets, but most commonly consists of information gathered from family and friends.If the information search is insufficient, the consumer may search for alternative means to satisfy the needAwant. In this case, this may be buying leather shoes, sandals, etc. 1he purchase decision is then made, in which the consumer actually buys the product. Collowing this stage, a post"purchase evaluation is often conducted, comprising an appraisal of the valueAutility brought by the purchase of the sneakers. If the valueAutility is high, then a repeat purchase may be bought. 1his could then develop into consumer loyalty, for the firm producing the pair of sneakers. %,% #u)ing #eha$ior <elates to organi2ationalAindustrial buying behavior. 1he term D$/$D stands for $usiness to $usiness. $/$ marketing in its most simple definition is when one business markets a product or service to another business. $/4 and $/$ behavior are not exact, as similarities and differences exist. 3ome of the key differences are listed below: In a straight re"buy, the fourth, fifth and sixth stages are omitted. In a modified re"buy scenario, the fifth and sixth stages are precluded. In a new buy, all aforementioned stages are conducted.

Use of te'hno!ogies #arketing management can also note the importance of technology, within the scope of its marketing efforts. 4omputer" based information systems can be employed, aiding in a better processing and storage of data. #arketing researchers can use such systems to devise better methods of converting data into information, and for the creation of enhanced data gathering methods. Information technology can aid in improving an #QI38 software and hardware components, to improve a company8s marketing decision"making process. In recent years, the notebook personal computer has gained significant market share among laptops, largely due to its more user"friendly si2e and portability. Information technology typically progress at a fast rate, leading to marketing managers being cogni2ant of the latest technological developments. #oreover, the launch of smart phones into the cell phone market is commonly derived from a demand among consumers for more technologically advanced products. % firm can lose out to competitors, should it refrain from noting the latest technological occurrences in its industry. 1echnological advancements can facilitate lesser barriers between countries and regions. @ia using the World Wide Web, firms can uickly dispatch information from one country to another, without much restriction. Prior to the mass usage of the Internet, such

transfers of information would have taken longer to send, especially if via snail mail, telex, etc. -er$i'es marketing 3ervices marketing relates to the marketing of services, as opposed to tangible products. % typical definition of a service *as opposed to a good+ is thus:

1he use of it is inseparable from its purchase *i.e. a service is used and consumed simultaneously+ It does not possess material form, and thus cannot be smelt, heard, tasted, or felt. 1he use of a service is inherently subjective, in that due to the human condition, all persons experiencing a service would experience it uni uely.

%s examples of the above points, a train ride can be deemed as a service. If one buys a train ticket, the use of the train is typically experienced concurrently with the purchase of the ticket. %lthough the train is a physical object, one is not paying for the permanent ownership of the tangible components of the train. 3ervices *by comparison with goods+ can also be viewed as a spectrum. :ot all products are pure goods, nor are all pure services. %n intermediary example may be a restaurant, where the waiter service is intangible, but the food is tangible.

Marketing mi. 1he marketing mix is generally accepted as the use and specification of the four Ps describing the strategic position of a product in the marketplace. !ne version of the origins of the marketing mix starts in ,EBM when Hames 4ulliton said that a marketing decision should be a result of something similar to a recipe. 1his version continued in ,E50 when :eil $orden, in his %merican #arketing %ssociation presidential address, took the recipe idea one step further and coined the term 8#arketing"#ix8. % prominent marketer, ;. Herome #c4arthy, proposed a B P classification in ,E6?, which would see wide popularity. 1he four Ps concept is explained in most marketing textbooks and classes. Definition #arketing #ix. What is the marketing mixK 1he marketing mix is probably the most famous marketing term. Its elements are the basic, tactical components of a marketing plan. %lso known as the Cour P8s, the marketing mix elements are price, place, product, and promotion. <ead on for more details on the marketing mix. %lthough some marketers have added other Ps, such as personnel and packaging, the fundamentals of marketing typically identifies the four Ps of the marketing mix as referring to: /rodu't "%n object or a service that is mass produced or manufactured on a large scale with a specific volume of units. %

typical example of a mass produced service is the hotel industry. % less obvious but ubi uitous mass produced service is a computer operating system. 1ypical examples of a mass produced objects are the motor car and the disposable ra2or. /ri'e O 1he price is the amount a customer pays for the product. It is determined by a number of factors including market share, competition, material costs, product identity and the customer8s perceived value of the product. 1he business may increase or decrease the price of product if other stores have the same product. /!a'e O Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet. /romotion O Promotion represents all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements " advertising, public relations, word of mouth and point of sale. % certain amount of crossover occurs when promotion uses the four principle elements together, which is common in film promotion. %dvertising covers any communication that is paid for, from television and cinema commercials, radio and Internet adverts through print media and billboards. !ne of the most notable means of promotion today is the Promotional Product, as in useful items distributed to targeted audiences with no obligation attached. 1his category has grown

each year for the past decade while most other forms have suffered. It is the only form of advertising that targets all five senses and has the recipient thanking the giver. Public relations are where the communication is not directly paid for and includes press releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events. Word of mouth is any apparently informal communication about the product by ordinary individuals, satisfied customers or people specifically engaged to create word of mouth momentum. 3ales staff often plays an important role in word of mouth and Public <elations *see Product above+. $roadly defined, optimi2ing the marketing mix is the primary responsibility of marketing. $y offering the product with the right combination of the four Ps marketers can improve their results and marketing effectiveness. #aking small changes in the marketing mix is typically considered to be a tactical change. #aking large changes in any of the four Ps can be considered strategic. Cor example, a large change in the price, say from R,E.?? to R0E.?? would be considered a strategic change in the position of the product. 7owever a change of R,0, to R,0?.EE would be considered a tactical change, potentially related to a promotional offer. 1he concept is simple. 1hink about another common mix " a cake mix. %ll cakes contain eggs, milk, flour, and sugar. 7owever, you

can alter the final cake by altering the amounts of mix elements contained in it. 3o for a sweet cake add more sugarS

It is the same with the marketing mix. 1he offer you make to you customer can be altered by varying the mix elements. 3o for a high profile brand, increase the focus on promotion and desensiti2e the weight given to price. %nother way to think about the marketing mix is to use the image of an artist8s palette. 1he marketer mixes the prime colours *mix elements+ in different uantities to deliver a particular final colour. ;very hand painted picture is original in some way, as is every marketing mix. 3ome commentators will increase the marketing mix to the Cive P8s, to include people. !thers will increase the mix to 3even P8s, to include physical evidence*such as uniforms, facilities, or livery+ and process *i.e. the whole customer experience e.g. a visit the

>isney World+. 1he term was coined by :eil 7. $orden in his article 1he 4oncept of the #arketing #ix in ,E65. 1he extended marketing mix *LPs+ 1he marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. 1raditionally the marketing mix consisted of just B Ps. Cor example, a motor vehicle manufacturer like %udi: Produces products that are of the highest needs of different groups of consumers, !ffers a range of cars at value for money prices, depending on the market segmented they are targeted at, 3ells the cars through appropriate outlets such as dealerships and showrooms in prime locations, i.e. in the right places, and 3upports the marketing of the products through appropriate promotional and advertising activity. 1he marketing mix thus consists of four main elements: ,. Product /. Price 0. Place B. Promotion. 9etting the mix of these elements right enables the organisation to meet its marketing objectives and to satisfy the re uirements of customers. uality and fit for the

In addition to the traditional four Ps it is now customary to add some more Ps to the mix to give us 3even Ps. 1he additional Ps have been added because today marketing is far more customer oriented than ever before, and because the service sector of the economy has come to dominate economic activity in this country. 1hese 0 extra Ps are particularly relevant to this new extended service mix. 1he three extra Ps are: ,. /h)si'a! !a)out " in the days when manufacturing dominated the FQ economy the physical layout of production units such as factories was not very important to the end consumer because they never went inside the factory. 7owever, today consumers typically come into contact with products in retail units " and they expect a high level of presentation in modern shops " e.g. record stores, clothes shops etc. :ot only do they need to easily find their way around the store, but they also often expect a good standard or presentation. 1he importance of 3tudents going uality physical layout is important in a range to college or university have far higher of service providers, including: expectations about the uality of their accommodation and

learning environment than in the past. %s a result colleges and universities pay far more attention to creating attractive learning environments, student accommodation, shops, bars and other facilities.

%ir passengers expect attractive and stimulating environments, such as interesting departure lounges, with activities for young children etc. 7air dressing salons are expected to provide pleasant waiting areas, with attractive reading materials, access to coffee for customers, etc. Physical layout is not only relevant to stores, which we visit, but also to the layout and structure of virtual stores, and websites. /. /ro$ision of 'ustomer ser$i'e " customer service lies at the heart of modern service industries. 4ustomers are likely to be loyal to organisations that serve them well " from the way in which a telephone uery is handled, to direct face"to"face interactions. %lthough the 8have a nice day8 approach is a bit corny, it is certainly better than a couldn8t care less approach to customer relations. 4all centre staff and customer interfacing personnel are the front line troops of any organisation and therefore need to be thoroughly familiar with good customer relation8s practice. 0. /ro'esses " associated with customer service are a number of processes involved in making marketing effective in an organisation e.g. processes for handling customer complaints,

processes for identifying customer needs and re uirements, processes for handling order etc 1he L Ps " price, product, place, promotion, physical presence, provision of service, and processes comprise the modern marketing mix that is particularly relevant in service industry, but is also relevant to any form of business where meeting the needs of customers is given priority.

Con'!usion
4hanges in the world market and in technological conditions in the world economy in the recent past, in particular in the last decade, pose new challenges to industriali2ation and the development of a competitive manufacturing sector in %frica. 1hree main categories of changes are most relevant: changes in market conditions, in technology hardware and software and in the organi2ation of production. In many respects the conventional advantage of low labour cost is being undermined by the increasing importance of competitive characteristics productAservice design, other than cost of production, notably uality and just"in"time delivery. 1o cope with and new to organi2ational selectively and linkage new

these re uirements, greater effort will be re uired to develop marketing in capabilities, addition ac uiring

manufacturing technologies. 1hese market and technological changes are likely to have considerable implications for the shift in the direction of knowledge"intensive production and for the kinds of capabilities that must be developed to cope with the changing situation. Cirst, greater effort will be needed to monitor these changes with a view to adapting to the new situation. 1his will often imply selective adoption of new technologies in production and

marketing at the right time and in the right applications according to the dictates of uality, precision, speed and productivity re uirements. 3econd, greater effort will be needed to create a conducive environment for the creation and development of core capabilities within firms and in the institutions that interact with those firms so as to cope with the changing conditions.

A PROJECT REPORT ON

marketing
Submitted In Partial Fulfilment for the Requirements of the egree of

Bachelor of Business Administration

Submitted to ! #iss$ Shaink" Cha%la

Submitted b"! Sar&'eet (aur Class ! ))A *rd Sem$ Roll no +,-.

C$#$( NATIONA/ P0 0IR/S CO//E0E1 SIRSA2-+3.33

-tudent De'!aration

I hereby declare that the project report title 3ubmitted in re uirement of the $achelor

marketing of $usiness

%dministration to the Qurukshetra Fniversity, Qurukshtra through 4.#.Q. :ational P.9. 9irls 4ollege, 3irsa, is my original work. -ar$+eet Kaur

A'kno0!edgement

I take this opportunity to express my skills. I respect to all those who helped us through the training period, and during development of my project.

1his report has been completed by the sincere and active support of all the staff members of sales department, who provided me proper guidance = direction regarding problems.

-ar$+eet Kaur