1.

3 Meaning and Definition of Marketing

The concept of marketing can be viewed from social and managerial perspectives. So Marketing is a social and
managerial process by which individuals and groups obtain what they need and want through creating and
exchanging products and value with others. At its simplest, marketing can be defined as exchange transactions that
take place between the buyer and the seller. Marketing is the management function, which organizes and directs all
those business activities involved in assessing and converting customer purchasing power into effective demand.

1.4 NATURE OF MARKETING

Is marketing based on a scientific method of inquiry, or is it essentially about an artistic process of creativity? Studies
of marketing using the scientific frameworks of the natural sciences have found favour with followers of the positivist
approach. This holds that, from observations of the real world, it is possible to deduce models that are of general
applicability. On this basis, models have been developed to predict consumer behaviour, the profitability of retail
locations, and price–volume relationships, among many other phenomena.

1.5 Scope of Marketing

a. Functions of exchange:

which include buying and assembling and selling?

b. Functions of physical supply: include transportation, storage and warehousing

c. Functions of facilitation:

Product Planning and Development, Marketing Research, Standardisation, Grading, Packaging, Branding, Sales
Promotion, Financing.

Figure- Core Marketing Concepts

 Needs, Wants and Demands
 Product People satisfy
 Value, Satisfaction and Quality
 Exchange
 Markets

Marketing Focuses on Customer’s needs.

 Customer enjoys supreme importance

 Converting customer’s needs into product.
 Profits through customer satisfaction.
 Emphasis is given on product planning and development to match products with the market.
 Integrated approach to marketing is practiced.
 The principle of caveat vendor (let the seller beware) is followed.

Selling

•_ Focuses on seller’s needs.

•_ Product enjoys supreme importance.

•_ Converting product into cash. •_ Profits through sales volume. •_ Emphasis is placed on sale of products already
produced. •_ Fragmented approach to selling is practiced. •_ The principle of caveat emptor (let the buyer beware) is
followed.
Product
1.Physical product 2. Services 3. Ideas 4. Organizations 5. Places 6. Persons 7. Information 8. Events 9.Properties

Product hierarchy

1.Need family-the core need that underlines the existence of a product family.

2.Product family- all the product classes that can satisfy a core need with reasonable effectiveness.

3.Product class-a group of products within the product family recognized as having a certain functional coherence,
also known as a product category

4.Product line: a group of products within a product class that are closely related because they perform a similar
function, are sold to the same customer groups, are marketed through the same outlets or channels, or fall within
given price ranges. A product line may consist of different brands, or a single family brand ,or individual brand that
has been line extended.

 Product type: A group of items within a product line that share one of several possible forms of the product. 
Item/SKU: A distinct unit within a brand or product line distinguishable by size , price,appearnace,orsome other
attribute.

Products of HUL:-

Personal wash:-Lux. Lifebuoy, Liril , Hamam, Breeze, Moti , Dove, Pears and Rexona

Laundry:-Surf Excel, sun light, Rin ,Wheel & Ala bleech

 Dishwasher :-Vim

 Disinfectants:-Domex, cif

 Foods:-Kissan(Jam,Ketchup,Squashes), Annapurna(Aata and salt), Knorr Soups, Modern Bread

 Ice-cream:-Kwality Wall's

Bewerages:- Tea:-Brooke bond, Lipton, taj mahal

 Coffee:-Brooke bond, bru

 Beauty Products:- Fair & Lovely, Lakme, Ponds, Vaseline and Aviance

 Hair-Care:-Sunsilk naturals, Clinic , Dove

 Oral-Care:-Pepsodent and Close-up

 Deo spray:- Axe and Rexona

 Water Purifier:- Pureit

 Ayurvedic Personal & health care:-Ayush

Product Life Cycle

1. Development 2. Introduction/Launch 3. Growth 4. Maturity 5.Saturation 6. Decline 7. Withdrawal

Product mix
A successful product mix strategy enables a company to focus efforts and resources on the
products and product lines within its offerings that have the greatest potential for growth,
market share, and revenue.
A product mix is the total number of product lines and individual products or services offered
by a company. Additionally referred to as product assortment or product portfolio. Product
mixes vary from company to company. Some have multiple product lines with lots of products
in each line. But others are much more limited.
Grading : It refers to the process of dividing products into classes made up of units possessing
similar characteristics. It involves division of products into classes,lots or groups in accordance
with predetermined grades of quality. Grading helps in fixing and securing remunerative prices
for the products.

Buyer Decision Process in Marketing

The buying decision process in marketing helps marketers understand the consumer's journey -
how and why they made a purchase decision.
It starts when the consumer recognizes a need for a product and extends until after they have
made the purchase.
Understanding this journey of customers, especially a target segment, is essential for brands to
be successful. Marketers must understand and analyze the changes in the buying decision
processes of customers as they may gain valuable insight. This might result in them changing
marketing campaigns according to the new consumer trends.
Understanding the buying decision process helps marketers design their marketing campaign to
be recognizable and identifiable by customers so that they recall the product in their time of
need.
Distribution Channel
A distribution channel is the network of businesses or intermediaries through which a good or
service passes until it reaches the final buyer or the end consumer. Distribution channels can
include wholesalers, retailers, distributors, and even the internet.
Distribution channels are part of the downstream process, answering the question "How do we
get our product to the consumer?" This is in contrast to the upstream process, also known as
the supply chain, which answers the question "Who are our suppliers?"
CHANNELS OF DISTRIBUTION MEANING The term distribution collectively refers to all the acts
or services rendered by various agencies. It consists of operation or series of operation which
physically brings the goods from the producer into the hands of the final user.
TYPES OF CHANNELS OF DISTRIBUTION

. MANUFACTURER – CONSUMER

MANUFACTURER – RETAILER --- CONSUMER

MANUFACTURER – WHOLESALER --- RETAILER --- CONSUMER

MANUFACTURER --- AGENT MIDDLEMEN --- WHOLESALER --- RETAILER – CONSUMER