Management

Started with British Industrial Revolution.

Power of Machine/Engine was utilized to make cloth.
Machine made cloth was unique, fresh and
economical (Economy of Scale) so it had tremendous
demand.
We needed more men to handle more machines to
produce more because of excessive demand in
diversified large markets.
Certain concepts germinated and gave way
to the newer more advanced concepts.
• Production Concept
• Product Concept
• Selling Concept
• Marketing Concept
• Societal Marketing Concept
• Needs: State of Felt Deprivation of some basic
necessity. Food, water, protection for body
• Wants: When a need is satisfied with a specific
product or specific brand .
• Demands: When needs and wants are backed by
willingness, ability and authority to pay for it.

• Now let’s What is Product for which is necessary to

satisfy “needs” and “wants” and creates “demand”
What is a product?

POTENTIAL PRODUCT

AUGMENTED PRODUCT

EXPECTED PRODUCT

GENERIC PRODUCT

CORE PRODUCT
 CASH

Company’s Operating Cycle

to create a “product”
BILLS RAW
RECEIVABLE MATERIAL
OPERATING CYCLE

FINISHED GOODS IN
GOODS PROCESS
 People will purchase Utility
Motorcycle = ?

Car = ?

Washing Machine = ?
 How to ascertain that something is of
utility?

Present (Gap) Future