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Marketing Management Module 4
Marketing Management Module 4
OVERVIEW
LEARNING OUTCOMES
ASSIGNED READINGS
INTRODUCTION
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on the income they earn from their customers, clients or
buyers. In most larger businesses it is marketing managers who
are primarily responsible for keeping their company close to
its customers. In any case, all those who have a direct
responsibility for identifying, reaching and satisfying
customers are engaged in marketing and everybody in a business
needs to understand its marketplace activities. This course
offers a complete introduction to professional marketing
thought and action. The course explains the nature and purpose
of marketing, followed by the fundamentals of each of the most
important marketing tasks. It analyses the business need for
customer orientation, the evaluation of markets and the
targeting of market opportunities. There is then assessment of
buyer behaviour and the role of market information. In
addition, the course explains how to integrate product and
service decisions with those on pricing, distribution and
promotion - and why this is necessary.
Market Research
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Qualitative focuses on consumer perception, attitudes and
opinion of a particular product or service while quantitative
data refers to units sold, produced, distributed in a
particular region and time.
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Product Life Cycle (PLC) will differ across products and
categories, sometimes it may last only a few weeks or months
while in some other cases, some years. PLC can be extended
through advertising to gain new market share, price discounts
to lure customers, using product enhancements to add value and
target new areas. Even new packaging and colour changes can
improve perception levels.
Promotion
Now comes the most crucial part of the business process- sales
and distribution. The products must reach the targeted markets
through a well-planned distribution channel of national level
distributors, clearing & forwarding agents, regional
distributors, wholesalers and retailers.
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shop shelves but sufficient advertising has created a demand
among consumers who in turn get disappointed when the product
is not immediately available.
Storage
Proper storage of goods are vital for not only perishable and
semi-perishable goods but also for processed food, consumer
durables, but only to a lesser extent for industrial goods. It
is important that distribution centers have adequate
warehousing facility that can be leased and emergency
requirements for supply to retail outlets.
6. Standardization and Testing
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After-Sales and customer service
Financing
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Business carries a lot of market risk due to new competition,
fall in prices, loss of goods due to spoilage, depreciation,
obsolescence, theft, fire and floods. Sometimes for unknown
reasons a slight defect or quality concerns in certain batches
of goods shipped may have to be recalled.
Market information
Instructions:
1.Develop and design new food product
2.What is the name of your food product/Tagline
3.Process in making the product
4.What the needed materials
5.Documentation of the process
5.Photo essay of your product
6.Packaging of the product
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REFERENCES
http://www.adelaide.edu.au/technology/yourservices/learning-
teaching/adapt/
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Marketing Research
Market Risk Premium
Marketing Management Information
Branding vs Marketing
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