PRODUCT LIFE CYCLE

• PRODUCT LIFE CYCLE
• MARKETING MGMT
• BY DR SHASHI
• MEANING OF PRODUCT LIFE CYCLE
• PRODUCT LIFE CYCLE STAGES DEVELOPED BY RAYMOND VERNON IN 1966. THE PRODUCT LIFE CYCLE STAGES OR INTERNATIONAL PRODUCT LIFE CYCLE WHICH WAS DEVELOPED BY THE ECONOMIST BY RAYMOND VERMON IN 1966
• ACCORDING TO HIM THERE ARE FOUR STAGES IN PRODUCT LIFE CYCLE : INTRODUCTION,GROWTH,MATURITY AND DECLINE. THE LENGTH OF STAGE VARIES FOR DIFFERENT PRODUCT,ONE STAGE MAY LAST SOME WEEKS WHILE OTHERS EVEN LAST DECADE. THIS SHOWS

MARKETING PLANNING 1

•       MARKETING PLANNING 1
MARKETING MANAGEMENT

·         MEANING OF PLANNING

•      PLANNING IS MANAGERIAL ACTIVITY WHICH IS BASIC REQUIREMENT FOR ALL ORGANIZATIONS. ANY ORGANIZATION WILL NEED GENERAL AND SPECIFIC PLANS TO FULFILL ITS OBJECTIVES. PLANNING IS DECIDING NOW  WHAT WE ARE GOING TO DO LATER INCLUDING HOW AND WHEN WE ARE GOING TO DO IT.

PREVIOUS QUESTION PAPERS OF MARKETING MANAGEMENT/PRINCIPLES OF AMRKETING

• PREVIOUS PAPERS OF MARKETING MANAGEMENT
  MARKETING MANAGEMENT
  PRINCIPLES OF MARKETING MGMT

MEANING ,OBJECTIVES AND PROCESS OF MARKETING

Ø  MEANING AND PROCESS OF MARKETING

Ø  MARKETING MANAGEMENT

• MEANING OF MARKETING
• TRADITIONALLY MARKETING REFERS TO THE PERFORMANCE OF BUSINESS ACTIVITIES IN SUCH A WAY THAT IT FACILITATES FLOW OF GOODS AND SERVICES FROM THE PRODUCERS TO THE CONSUMERS.

SELLING VS MARKETING

Ø  SELLING VS MARKETING
MARKETING MGMT
PRINCIPLES OF MARKETING

BUSINESS STUDIES

Ø  THE SELLING CONCEPT

·         SELLING CONCEPT STARTS WITH THE SELLER AND ONLY WITH THE SELLER’S NEEDS

·         BELIEVES THAT THE CUSTOMERS WILL NOT BUY ENOUGH OF THE COMPANY’S PRODUCT UNLESS IT TAKES SELLING TACTICS AND HEAVY PROMOTION EFFORTS

·         USED FOR UNSOUGHT GOODS LIKE INSURANCE,CEMETERY PLOTS ETC

·         IN CASE OF EXCESS OF PRODUCTION THEY FOLLOW THIS CONCEPT WITHOUT CARING FOR CONSUMER’S NEEDS

·         THE SELLING CONCEPT

MEANING AND COMPONENTS OF PHYSICAL DISTRIBUTION

Ø  PHYSICAL DISTRIBUTION

MARKETING MGMT/PRINCIPLE OF MARKETING MGMT

MARKETING MGMT/PRINCIPLE OF MARKETING MGMT
MARKETING MGMT/PRINCIPLE OF MARKETING MGMT

·          CONTENTS

a)     MEANING OF PHYSICAL DISTRIBUTION

b)     DEFINITION

c)     OBJECTIVE

d)     SIGNIFICANCE

e)     COMPONENTS OF PHYSICAL DISTRIBUTION

f)      CHECK PLAYLIST FOR MARKETING  ON YOU TUBE SHASHI AGGARWAL FOR ANY TOPIC RELATED TO MARKETING

v     MEANING OF PHYSICAL DISTRIBUTION

·         PHYSICAL DISTRIBUTION S CONCERNED WITH THE PHYSICAL MOVEMENT OF GOODS FROM THE PRODUCER TO THE CONSUMER.

·         IT INCLUDE ALL THOSE ACTIVITIES WHICH HELP IN EFFICIENT MOVEMENT OF GOODS FROM PRODUCER TO THE CONSUMER,SUCH AS TRANSPORTATION,WAREHOUSING,MATERIAL HANDLING,INVENTORY CONTROL,ORDER PROCESSING,MARKET FORECASTING,PACKAGING AND WAREHOUSING LOCATION AND CUSTOMER SERVICE.

·         DEFINITION OF PHYSICAL DISTRIBUTION

·         ACCORDING TO PHILIP KOTLER,” PHYSICAL DISTRIBUTION INVOLVES PLANNING,IMPLEMENTING AND CONTROLLING THE PHYSICAL FLOW OF MATERIALS AND FINAL GOODS FROM THE POINT OF ORIGIN OF USE TO MEET CONSUMER NEEDS AT PROFIT.

·         MANAGEMENT OF THE PHYSICAL FLOW OF PRODUCTS AND OPERATIONS OF FLOW SYSTEM. IT IS A PROCESS OF MANAGING THE MOVEMENT OF GOODS.

Ø  OBJECTIVES OF PHYSICAL DISTRIBUTION

a)    CUSTOMER SATISFACTION

b)    PROFIT MAXIMIZATION

c)    TO MAKE THE RIGHT GOODS IN RIGHT QUANTITY AT RIGHT TIME AND RIGHT PLACE AT LEAST COST

d)    TO ACHIEVE MINIMUM INVENTORY LEVEL AND SPEEDIER TRANSPORTATION

e)    TO ESTABLISH PRICE OF PRODUCTS BY EFFECTIVE MGMT OF PHYSICAL DISTRIBUTION ACTIVITIES

f)     TO GAIN COMPETITIVE EDGE

v     SIGNIFICANCE OF PHYSICAL DISTRIBUTION

1)    CREATING TIME AND PLACE UTILITY

2)    HELP IN REDUCING DISTRIBUTION COST

3)    HELP IN STABILIZATION OF PRICE

4)    IMPROVED CONSUMER SERVICES

v     COMPONENTS OF PHYSICAL DISTRIBUTION

• ORDER PROCESSING: RECEIVING THE ORDER,HANDLING THE ORDER,BILLING,DISPATCHING AND COLLECTING BILLS. IT IS VERY IMPORTANT. EFFORT SHOULD BE MADE TO MAINTAIN THE ORDER CYCLE TIME
• STORAGE AND WAREHOUSING:-STORAGE MEANS PROPER ARRANGEMENT FOR RETAINING THE GOODS IN PROPER CONDITIONS TILL THEY ARE DEMANDED BY CUSTOMERS. WAREHOUSING PROVIDE THE STORAGE FUNCTION AND THEY ALSO PERFORM OTHER FUNCTION LIKE MARKETING,ASSEMBLING THE GOODS.STORAGE WAREHOUSE FOR STORING AND DISTRIBUTION WAREHOUSING IS USED FOR ASSEMBLING AND REDISTRIBUTING

  

• INVENTORY CONTROL: REFERS TO EFFICIENT CONTROL OF GOODS AND SERVICES STORED IN WAREHOUSE. INVENTORY ACTS AS BRIDGE BETWEEN THE ORDERS OF CUSTOMERS AND PRODUCTION. MAINTAINING ADEQUATE INVENTORY IS VERY ESSENTIAL FOR THE SMOOTH FLOW OF GOODS AND SERVICES.
• MATERIAL HANDLING:-INCLUDE ALL THOSE ACTIVITIES WHICH ARE ASSOCIATED IN MOVING PRODUCTS WHEN IT LEAVES THE MANUFACTURING PLANT BUT BEFORE IT IS LOADED ON THE TRANSPORT.MATERIAL HANDLING IS SUB PART OF THE TOTAL PHYSICAL DISTRIBUTION SYSTEM AND HELPS IN REDUCTION IN COST AND BETTER SERVICE TO CONSUMERS. EFFECTIVE MGMT OF MATERIAL HANDLING SYSTEM LEADS TO EFFECTIVE MGMT OF TOTAL PHYSICAL DISTRIBUTION SYSTEM AND THEREBY MAKES IT ECONOMICAL.

• TRANSPORTATION: MOVEMENT OF THE GOODS FROM  THE
• WAREHOUSE TO CUSTOMER DESTINATION. INCLUDES LOADING AND UNLOADING OF GOODS AND THEIR MOVEMENT FROM ONE PLACE TO ANOTHER. IT PROVIDES TIME AND PLACE UTILITY,
• RIGHT FORM OF TRANSPORTATION IS VERY ESSENTIAL AS IT DIRECTLY AFFECT THE PRICE OF THE PRODUCT. THE TRANSPORTATION MODE NEED TO BE ADEQUATE,REGULAR AND DEPENDABLE

·         COMPONENTS OF TRANSPORT MODE

1)    ROAD TRANSPORT

2)    RAILWAYS

3)    WATER TRANSPORT

4)    AIR TRANSPORT

5)    PIPELINES

PROMOTIONAL MIX:MEANING,SIGNIFICANCE AND COMPONENT

•     PROMOTIONAL MIX

BUSINESS STUDIES
MARKETING MANAGEMENT
PRINCIPLES OF MARKETING

vMEANING OF PROMOTION MIX

•     IN MARKETING,THE PROMOTIONAL MIX DESCRIBES A BLEND OF PROMOTIONAL VARIABLES CHOSEN BY MARKETERS TO HELP A FIRM REACH ITS GOALS.

•     THE PROMOTIONAL MIX IS A TERM USED TO DESCRIBE THE SETS OF TOOLS THAT A BUSINESS CAN USE TO EFFECTIVELY COMMUNICATE THE BENEFITS OF ITS PRODUCTS OR SERVICES TO ITS CUSTOMERS.

SALES PROMOTION PART 1

v  SALES PROMOTION 1
BUSINESS STUDIES
MARKETING MGMT
MEANING AND DEFINITION

–           IT IS ONE OF THE ELEMENTS OF PROMOTIONAL MIX. SALES PROMOTION USES BOTH MEDIA AND NON MEDIA MARKETING COMMUNICATIONS FOR  STIMULATING THE DEMAND.

–           SALES PROMOTION IS A TYPE OF PULL MARKETING TECHNIQUE WHICH AIMED AT PERSUADING A POTENTIAL CUSTOMER TO BUY  THE PRODUCT.

–           SALES PROMOTION TARGETED AT THE CONSUMER ARE CALLED CONSUMER SALES PROMOTION AND SALES PROMOTION TARGETED AT THE RETAILERS AND WHOLESALE ARE CALLED TRADE SALES PROMOTION

PRICING METHODS 1

■      

PRICING METHODS 1

■            MANAGERIAL ECONOMICS/MARKETING MGMT

■        

■PRICING METHODS

1.    FULL COST OR COST PLUS PRICING

2.    MARGINAL COST PRICING /VARIABLE COST PRICING

3.    RATE OF RETURN PRICING

4.    GOING RATE PRICING

5.    CUSTOMARY PRICING

6.    SEALED BID PRICING

7.    PRODUCT TAILORING ETC

MEANING ,ROLES,LIMITATION OF ADVERTISING

Ø  MEANING,ROLE AND LIMITATION OF ADVERTISING

 

·         MEANING OF ADVERTISING

•     DERIVED FROM THE ORIGINAL LATIN WORD “ADVERTERE” WHICH MEANS TO TURN THE ATTENTION. EVERY PIECE OF ADVERTISING TURNS THE ATTENTION OF THE READERS/LISTENERS OR THE VIEWERS/OR THE ON LOOKERS TOWARDS A PRODUCT OR SERVICE OR AN IDEA.

•     IT CAN BE SAID THAT TURNS THE ATTENTION TO AN ARTICLE OR A SERVICE OR AN IDEA MIGHT WELL BE CONCERNING AN IDEA MIGHT WELL BE CALLED ADVERTISING.

PUBLICITY VERSUS ADVERTISING

–         PUBLICITY VERSUS ADVERTISING
MARKETING
ADVERTISEMENT AND SALES MGMT
MARKETING

Ø     MEANING OF PUBLICITY

–           IS AN EFFORT TO MAKE AVAILABLE CERTAIN INFORMATION TO THE PUBLIC. IT IS THE SUM TOTAL OF ALL THOSE ACTIVITIES THAT ARE DIRECTED TO THE FLOW OF INFORMATION TO THE KNOWLEDGE OF PUBLIC.

–           ASSOCIATION OF TEACHERS OF MARKETING AND ADVERTISING OF AMERICA,”

–           PUBLICITY IS ANY FORM OF NON PERSONAL PRESENTATION OF GOODS,SERVICES OR IDEAS TO A GROUP SUCH PRESENTATION MAY OR MAY NOT BE SPONSORED ONLY BY ONE RESPONSIBLE FOR IT AND IT MAY OR MAY NOT BE PAID.

–           DEFINITION OF ADVERTISING