important achievements in India, such as
1. Increase in employment opportunities.
2.. Balanced growth of the country;
3. Increase in per capita income.
4. Increase in the sale of goods.
5. Increase in profit.
6. Development of the means of communication.
7. Development of the means of transportation.
8. Development of the means of warehousing.
9. Development of the new media of advertisement and sales promotion.
10. Development of banking and insurance industries.
11. Development of packing industries.
12. Development of new means of finance.
13. Expansion in the scope and area of marketing.
14. Improvement in the standard of living.
15. Industrial progress.
Q.4. Briefly write the differences between selling and marketing. (2009-10)
Or Do you think there Is any difference between marketing and selling?
Ans. Generally, marketing and selling are considered to be the synonyms to each other but it is not so. These two words are different from each other. In order to understand the difference between these two words, it is necessary to understand their meaning.
Meaning of Marketing: Marketing is the entire process of satisfying the needs of consumers. It includes the discovery of consumers needs, production of goods and services according to the specifications of these needs, creation of demand for these goods and services, physical distribution of these goods and services and after-sale-services.
Meaning of Selling: Selling means only to convert the goods and services into money. It includes the discovery of buyers, to inform them about the goods and services available with the producer, to inspire them to purchase the goods and services and to deliver these goods and services to the consumers. Thus, selling includes only physical distribution of goods and services from the producers to consumers.
Differences between Marketing and Selling
Q.5. Define marketing and outline the steps in marketing process. (2008-09, 12-13)
Ans. Marketing: Refer to Section-C, Q.2.
Marketing
is thus, the sum of all the activities and processes that include creating,
communicating, delivering and exchange offerings that have a value for
customers, clients, partners and society as a whole.
Steps in Marketing Process; Marketing process involves the following steps:
1. Setting Marketing Objectives: The process of marketing management starts with the activity of setting objectives. The mission provides the priorities about how to scan the environment and then finding out the opportunities.
2. Analysing Marketing Objectives: It involves the analysis of opportunities related to the strengths and weaknesses of the company. The task involves long-run opportunities or short-run or even medium-term. There is a need of reliable market information system to identify and evaluate these opportunities. This helps the companies to know the needs and wants of their customers, their locations and other activities.
3. Researching and Selecting Target Markets: The firm at this stage becomes ready to research the selected markets. It is even ready to measure the attractiveness of that market. The people related to marketing understand the techniques for measuring the market potential and hence forecasting future demand. Modern marketing divides the markets into smaller segments, evaluating them, selecting and targeting certain ones and deciding about the company’s position in the market.
4. Designing Marketing Strategies: It provides the game plan for attaining the objectives of the business. Marketing strategy defines the broad principles by which the business unit expects to achieve marketing objectives in a target market. Product, price, promotion and place are the 4Ps that are decided and directed at the consumers by diagnosing market system.
5. Planning Marketing Programmes: It is not enough to formulate the broad strategies by which the business expects to achieve the marketing objective and plan the supporting marketing mix programmes. The features, packaging, branding, servicing policies, etc. of the product are focused to supply the products and services efficiently to the target market.
6. Organising, Implementing and Controlling Marketing Efforts: This is the final stage where the company is required to design a marketing organisation that will be able to degenerate the marketing plan, i.e. implementing its effort. The process establishes performance standards that evaluate the actual performance, and reduces the differences between desired and actual evaluation and monitoring.
Q.6. What is marketing mix? Explain the factors affecting marketing mix.
Or Explain the meaning of marketing mix and factors affecting It.
Ans. Meaning of Marketing Mix: Marketing mix means to collect and mix the resources of marketing in the manner that the objects of the enterprise may be achieved and maximum satisfaction may be provided ta the consumers. It includes product mix, distribution mix, communication mix and service mix.
Definitions of Marketing Mix: The idea of marketing
mix was introduced by Prof. Neil H. Bordon of Harvard Business School. He
defined marketing mix as, ‘The marketing mix refers to the apportionment of
efforts, the combinations, the designing, the integration of the elements of
marketing into a programme or mix which on the basis of an appraisal of the
market force, will achieve the market objectives of an enterprise in a given
time.’
Thus, marketing mix is the combination of various marketing elements which are
used by a particular firm at a particular time. All these variables constitute
the marketing system for the particular firm.
Factors Affecting Marketing Mix: Factors affecting marketing mix can be divided into two parts:
1. Factors related to market and 2. Factors related to the marketing. The details are as follows:
1. Factors Related to Market
(a) Consumer Behaviour: The demand for goods and services of an enterprise depends upon the needs, wants, habits and attitudes of consumers. These needs, wants, habits and attitudes of consumers depend on their standard of living. Therefore, the standard of living of consumers and all the changes in their standard of living affect the demand for the goods and services of an enterprise. Therefore, a marketing manager must study the standard of living of his present and potential consumers in deep and he must keep himself in continuous touch with the changes in this standard of living, so that a suitable market mix may be adopted.
(b) Competition: Competition is the factor which greatly affects the demand for the goods and services of an enterprise. It is a factor which is beyond the control of marketing manager. He must be in continuous touch with the latest situations of competition, so that a suitable market mix may be determined for the enterprise.