MARKETING – GRADE X11

 UNIT - 1 : PRODUCT
 UNIT - 2 : PRICE
 UNIT – 3 : DISTRIBUTION
 UNIT – 4 : PROMOTION
 UNIT – 5 : EMERGING TRENDS IN MARKETING
DEFINITIONS

UNIT – 1 PRODUCT
1. Product:
According to Philip Kotler, “Product is anything that can be offered to
someone to satisfy a need or a want”
2. Total Product:
According to P. Theodore Levitt: People don’t buy products, they buy
expectations of benefits.
3. Industrial Goods:
According to Prof Stanton “Industrial goods are those intended for use in
making other products or for rendering a service in operation of a business
or industrial enterprise”.
4. Product Life cycle:
According to Philip Kotler “The product life cycle is an attempt to recognize
distinct stages in sales history of the product’.
5. Brand:
Philip Kotler/Gary Amstrong defined a BRAND as a "name, term, sign
symbol (or a combination of these) that identifies the maker or seller of the
product.
6. Packaging:
According to Philip Kotler, “ Packaging is an activity concerned with
protection, economy, convenience and promotional considerations.”

7. Trademark is defined as “a brand or a part of brand that is given legal

protection because it is capable of exclusive appropriation.”
 UNIT - 2 : PRICE
1. Price
Philip Kotler ,“Price is the amount of money charged for a product or
service.”

2. Pricing :
Pricing is defined as “the process whereby a business sets the price at which
it intends to sell its products and services”.

UNIT – 3 : DISTRIBUTION
1. According to Philip Kotler, “Every producer seeks to link together
the set of marketing intermediaries that best fulfil the firm’s objective.
This set of marketing intermediaries is called marketing channel.”

2. According to William J. Stanton, “A distribution channel for a product

is the route taken by the title to the goods as they move from the producer
to the ultimate customer.”

3. According to Stanton, Retailing consists of the sale, and all activities

directly related to the sale of goods or services to the ultimate
consumer, for personal, non-business use. Retailing or retail trade
involves all such activities which are related to direct sale of goods to the
ultimate consumer. Retail trade is usually done by the retailers.
4.
A retailer may be defined as a dealer in goods and services who purchases
from manufacturers and wholesaler and sells to the ultimate consumer.
5.
According to Philip Kotler, “physical distribution involves planning,
implementing and controlling the physical flow of materials and final goods
from points of origin to points of use to meet customer needs at a profit.”
 UNIT – 4 : PROMOTION
1. Promotion-
According to Philip Kotler “Promotion encompasses all those tools in the
marketing mix whose major role is persuasive communication”.

2. Integrated marketing communication-

Philip Kotler defines IMC as “The concept under which a company
carefully integrates and coordinates its many communications channels to
deliver a clear, consistent message.”
3. Advertising-
American Marketing Association has given the following concept of
advertising - “any paid form of non-personal presentation and promotion of
ideas, goods, or services by an identified sponsor.”

4. Sales promotion-
UK Institute of Sales Promotion has defined sales promotion as - “Any
activity which adds value to a product or service for a limited time period by
offering an incentive to purchase”.

5. Direct marketing-
Direct marketing refers to any advertising activity which creates and
exploits a direct relationship between the marketer and its prospects or
customer as an individual.
6. Electronic Commerce
“Any form of business transaction in which the parties interact electronically
rather than by physical exchanges or direct physical contact.”

7. Personal Selling
Personal selling is a paid, two-way communication and to persuade
customers through information to buy products in an exchange situation.
According to American Marketing Association “personal selling is an
oral presentation in a conversation with one or more prospective
customers for the purpose of making sales at a profit to the seller and
benefit to the buyer.
8. Public Relations
Edward Louis Bernays and Ivy Lee in the early 1900s defined public
relations as a “management function which tabulates public attitudes,
defines the policies, procedures and interests of an organization followed by
executing a program of action to earn public understanding and acceptance.”

Public Relations is a broad set of guidelines which makes use of

advertising, annual reports, brochures, event sponsorships, and
undertaking social projects like helping poor and environment to build
or maintain a favourable image with its various publics.

9. Sponsorship
To sponsor something is to support financially or in-kind an event, activity,
person, or organisation financially or through the provision of products or
services to reach specified business goals for commercial advantage. A
sponsor is the individual or group that provides the support.

UNIT – 5 : EMERGING TRENDS IN MARKETING

1. Definition of services by Philip Kotler: “A service is any act of

performance that one party can offer another that is essentially intangible
and does not result in the ownership of anything; its production may or may
not be tied to a physical product.”