Market is:

• •
• • Place where buyers and sellers meet and conduct buying and selling
activities. It does not necessarily mean a geographical place(e.g.
conduct of business thro telephone, mail or internet)
• • The other ways in which this term is being used is in the context of a
product market (cotton market, gold or share market), geographic
market (national and international market), type of buyers (consumer
market and industrial market) and the quantity of goods transacted
(retail market and wholesale market).
• • In the modern marketing sense, it refers to a set of actual or potential
buyers of a product or service i.e. all customers who share a particular
need or want and are able to buy the product (also referred to as target
markets)
 Marketing
• According to American Marketing Association, “Marketing is
the process of planning and executing the conception,
pricing, promotion and distribution of ideas, goods and
services to create exchanges that satisfy individual and
organizational goals”.
• According to the Marketing Guru, ‘Philip Kotler’, “Marketing
is typically seen as the task of creating, promoting, and
delivering goods and services to consumers and businesses;
it is defined as a societal process by which individuals and
groups obtain what they need and want through mating,
offering, and freely exchanging products and services of
value with others.”
• Production Concept
• This concept is based on the efficient production process of a company.
Since the days of the industrial revolution, it is believed that goods that
are available in excessive quantities and cheap prices will always sell. It is
the Says law that “supply will create its own demand’.
• So a company can choose the production concept where it will utilize the
economies of scale. It will produce huge quantities of goods at lower
costs and sell them in all markets and inexpensive rates. Here the profits
will come from the number of goods sold.
• But the logic is flawed that the customer chooses a product only based
on price. There are many other factors he will consider, such as quality
and differentiation.
 Product Concept

• This concept places its emphasis on quality and innovation

rather than price and availability. In a market, there are
many factors that influence the customer. One such
important factor is the quality of the product and all its
features that are on offer.
• So in the product concept, the company will make sure
their goods are of the best quality. This will mean the cost
of production and the price of the product will be higher.
But the company will look to maximise profit by promising
quality products. Those customers who will emphasise the
cost or the accessibility of the product will be driven away.
• Selling Concept
• Here the concept shifts from production of the product to
simply selling the product. Even if the goods meet the price
and quality requirements of the consumer, the sale is not
guaranteed. In the selling concept of marketing management
philosophies, the idea is to persuade the consumer to buy the
product by any means necessary.
• Companies use promotion, advertising and publicity to
convince the consumer to buy their products. At times they
can even manipulate consumers. The ultimate aim here is to
push the product, without thought of long-term
consequences.
• Marketing Concept
• Marketing is one of the newer marketing management
philosophies. It is a very 21st-century concept that truly
believes “the customer is king”. Here ever decision will be
influenced by the needs of the customer. Right from
production and design of the goods to its transportation,
every process has the customer in mind.
• Since customer satisfaction is the main goal of the marketing
concept they need not worry about selling or production.
Since they are fulfilling all the needs of the consumers it is a
given the consumer will pay an appropriate price for the
product.
• Societal Marketing Process
• Sometimes the need of the customer and
those of the company are not best suited to
the society and/or the environment. But since
the business is a part of society, it must ensure
its wellbeing as well. So this concept will focus
on the satisfaction of consumer needs without
harming the society or the environment in the
process.
• Electronic Marketing is the marketing of
products using electronic technology to
determine the consumer market.  E-
marketing compasses all the activities a
business conduct via World Wide Web
(WWW) with the aim of attracting new
business , retaining current business and
developing its brand identify.
 Importance of E-Marketing
•  The Internet has brought many unique benefits to
marketing, one of which being lower costs for the
distribution of information and media to a global
audience. The interactive nature of Internet
Marketing, both in terms of providing instant response
and eliciting response, is a unique quality of the
medium.
•  It helps in relating the product to their customers
and prospective consumers in a convenient way..
•  As of today, it is said that “EITHER WAYS LEAD TO
THE INTERNET.” Just a simple click in surfing the
Internet would give you what you want and need.
 Advantages of E-Marketing
•  24/7
•  Save time
•  Extremely low risk
•  Faster response to both marketers and the end user
•  Increased ability to measure and collect data 
Opens the possibility to a market of one through
personalization
•  Increased interactivity
•  Increased exposure of products and services
•  Boundless universal accessibility
 Disadvantages of E-Marketing
•  Technology
•  The consumer is unable to physically feel or
try on the product
•  Higher transparency of pricing and
increased price competition
•  Worldwide competition through
globalization
• What Is Marketing Environment?
• “A company’s marketing environment consists of the
actors and forces outside marketing that affect
management’s ability to build and maintain successful
relationships with target customers.” —Philip Kolter
• A few examples of external forces having influence on a
business are as follows:
• (i) Rapid technological changes as in computer industry—
introduction of new models.
• (ii) Changes in government economic policies, e.g.,
licensing policy, import-export policy, taxation policy, etc.
• (iii) Political uncertainty, e.g., unstable government,
change of finance minister or industry minister of the
nation, etc.
• iv) Social changes, e.g., demand for reservation in
jobs for minorities and women.
• (v) Changes in fashion and tastes of consumers, e.g.,
preference for Khadi garments in place of synthetic
garments, dislike of oils containing unsaturated fats.
• (vi) Labour unrest leading to industrial conflicts—
demand for higher wages and bonus, better
working conditions, etc.
• (vii) Increased competition in the market with the
entry of multinational corporations (MNCs).
 Current Challenges
• 1. Tapping into the moving market needs

• The most challenging thing about moving business

marketing actually comes before any of the activity
most people associate with marketing. You have to
come up with a service or product people are willing
to spend money on. Many would-be movers spend
years researching the potential of software for movers
or other services before they actually initiate business
activity. The #1 reason startups fail is lack of market
need for their offer.
• 2. Connecting with the customer base
• As we noted, reaching people is easy. In fact, it’s too easy.
You can reach countless groups who aren’t actually your
customers. The hard part is identifying and connecting with
the people who will be motivated to purchase your
services. You need a strategy supported by data, testing, and
patience. If you have a marketing need, your target audience
is out there. But connecting with them in the clutter of
internet content is a major challenge – one that SEO might
be able to help with.
• 3. Refining your proposition of services

• In order for your proposition to succeed, everything needs to fit

together.In marketing, it’s not just what you say, but how you say it.
Your sales pitch makes the case for how customers benefit from what
you do and why you’re a better choice than the competition. It’s the
reason they should care in the first place. Communicating this with
clarity is harder than most people realize. You have to know the
services you’re offering and describe them in a manner that your
audience can connect to. Developing a crisp value proposition is a
vital marketing skill and hard work many overlook. And this is why it
is considered as one of the modern marketing challenges.
• 4. Not over-focusing on the design

• Many businesses get enamored with the tools and choices they
can explore with design. So much so that they forget that the
purpose of that design is to convey their message. Pretty design is
like coffee, a little is okay and refreshing but too much is
unhealthy. Staying on topic instead of playing with cool toys takes
focus and discipline.
• 5. Modern marketing challenges of data-management
• The challenge with data is identifying key performance indicators
(KPIs). With all the data you can access, what you need to
know so you can make meaningful modifications to your
campaigns can be hard to uncover. It takes experience and
expertise to make the most of the bounty of data available to you.
• 6. Keeping up with changes and trends
• This is very hard with digital marketing, even for those who work in the
field. Google and – in particular – Facebook change their algorithms and ad
platforms so often that nobody knows everything that’s going on all the
time. Some argue that the search engineers at Google itself don’t know
everything their AI directed algorithm is doing. Furthermore, the way people
use mobile technology is an ongoing, ever-changing story. Keeping up is one
of the major modern marketing challenges.
• 7. Managing your online reputation
• Maintaining your online presence and brand can be a difficult
challenge.Today, word of mouth is word of mouse. User generated reviews are
some of the most influential marketing content you have, but it’s content that
you have less control over. Many businesses today realize they need to
revamp their entire approach. This is so they create the type of experience
that leads to positive reviews. It’s a new era where businesses must be
proactive about:
• maintaining their reputations,
• creating a host of service and content management challenges.
• 8. Leveraging your marketing funnel
• The buyer’s journey in the digital age is more complex than
ever. The Internet enables people to do more research and
take more time when they’re looking for a product or
solution; people are more methodical buyers in general.
• A moving business needs informational content that
engages people at the top of the funnel. Many people
respond to the variety of branded content they get on social
media. Then, you need to track people as they get closer to
a buying decision and hit them with the right content. This
process poses a major difficulty for all businesses.
 Market segmentation
• According to Stanton, “Market segmentation
consists of taking the total heterogeneous
market for a product and dividing it into
several sub-markets or segments each of
which tends to be homogeneous in all
significant aspects.”
• Market segmentation is the process of dividing a
potential market into distinct sub-markets of
consumers with common needs and
characteristics. Market segmentation is the
starting step in applying the marketing strategy.
Once segmentation takes place, the marketer
targets the identified customer groups with
proper marketing-mix so as to position the
product/band/company as perceived by the
target segments.
 Product Life cycle

• The product life cycle concept suggests that a

product passes through four stages of
evolution. Introduction, growth, maturity and
decline. As a product evolves and passes
through theses four stages profit is affected,
and different strategies have to be employed
to ensure that the product is a success within
its market.
 Introduction Stage
• In the introduction stage, the firm seeks to build product
awareness and develop a market for the product. The impact
on the marketing mix is as follows:
• Product branding and quality level is established, and
intellectual property protection such as patents and
trademarks are obtained.
• Pricing may be low penetration pricing to build market share
rapidly, or high skim pricing to recover development costs.
• Distribution is selective until consumers show acceptance of
the product.
• Promotion is aimed at innovators and early adopters.
Marketing communications seeks to build product awareness
and to educate potential consumers about the product.
 Growth Stage
• In the growth stage, the firm seeks to build brand
preference and increase market share.
• Product quality is maintained and additional
features and support services may be added.
• Pricing is maintained as the firm enjoys increasing
demand with little competition.
• Distribution channels are added as demand
increases and customers accept the product.
• Promotion is aimed at a broader audience.
•
• Maturity Stage
• At maturity, the strong growth in sales diminishes. Competition
may appear with similar products. The primary objective at this
point is to defend market share while maximizing profit.
• Product features may be enhanced to differentiate the product
from that of competitors.
• Pricing may be lower because of the new competition.
• Distribution becomes more intensive and incentives may be
offered to encourage preference over competing products.
• Promotion emphasizes product differentiation.
•
 Decline Stage
• As sales decline, the firm has several options:
• Maintain the product, possibly rejuvenating it by adding new
features and finding new uses.
• Harvest the product - reduce costs and continue to offer it,
possibly to a loyal niche segment.
• Discontinue the product, liquidating remaining inventory or
selling it to another firm that is willing to continue the product.
• The marketing mix decisions in the decline phase will depend
on the selected strategy. For example, the product may be
changed if it is being rejuvenated, or left unchanged if it is being
harvested or liquidated. The price may be maintained if the
product is harvested, or reduced drastically if liquidated.
 MARKETING MIX
• The major marketing management decisions can be
classified in one of the following four categories:
• Product
• Price
• Place (distribution)
• Promotion
• These variables are known as the marketing mix or the
4 P's of marketing. They are the variables that
marketing managers can control in order to best satisfy
customers in the target market.
• The firm attempts to generate a positive response in the target market
by blending these four marketing mix variables in an optimal manner.
• Product
• The product is the physical product or service offered to the consumer.
In the case of physical products, it also refers to any services or
conveniences that are part of the offering.
• Product decisions include aspects such as function, appearance,
packaging, service, warranty, etc.
• Price
• Pricing decisions should take into account profit margins and the
probable pricing response of competitors. Pricing includes not only the
list price, but also discounts, financing, and other options such as
leasing.
• Place
• Place (or placement) decisions are those associated with channels of
distribution that serve as the means for getting the product to the
target customers. The distribution system performs transactional,
logistical, and facilitating functions.
• Distribution decisions include market coverage, channel member
selection, logistics, and levels of service.
• Promotion
• Promotion decisions are those related to communicating and selling
to potential consumers. Since these costs can be large in proportion
to the product price, a break-even analysis should be performed
when making promotion decisions. It is useful to know the value of a
customer in order to determine whether additional customers are
worth the cost of acquiring them.
• Promotion decisions involve advertising, public relations, media
types, etc.
Summary of Marketing Mix Decisions

Product Price Place Promotion

Functionality List price Channel Advertising

Appearance Discounts members Personal
Quality Channel selling
Packaging Allowances motivation Public
Brand Financing Market relations
Warranty Leasing coverage Message
Service/Support options Locations Media
Logistics Budget
Service levels
 RETAILING
Retailing includes all the activities involved in selling
goods or services directly to final consumers for
their personal, run business use. A Retailer or Retail
store is any business enterprise whose sales
volumes comes primarily form retailing.
• Types of Retailers:
• Store Retailing: The most important retail store
types, many of which are found in most countries
fall into eight categories. Specialty stores,
department stores, Super markets, connivance
stores, discount stores, off – price retailers, super
stores and catalog show rooms.
• Non – store Retailing: Although the overwhelming majority of
goods and services is sold through stores, non – store Retailing
has been growing much faster than store retailing amounting to
more than 12% of all consumer purchases. Non -store retailing
falls into four major categories. Direct selling, direct marketing,
automatic vending and buying services.
• Retail Organizations: Although many retail stores are
independently owned an increasing number are falling under
some form of corporate retaining. Retail organizations achieve
many economies of scale, such as greater purchasing power,
wider brand recognition and better-trained employees. The
major types of corporate retailing – corporate chain stores,
voluntary chain, retailer co-operatives, consumer co-operatives,
franchise organization.
 Retailer Marketing Decisions
Retailers today are anxious to find new marketing
strategies to attract and hold customers.
In the past, they held customers by offering a
convenient location, special or unique, assortments
of goods, greater or better services than
competitors. All of this has changed.
Today, many stores offer similar assortments service
differentiation also has eroded.
 New Product Development (NPD)

Improving and updating product lines is crucial for

the success for any organisation. Failure for an
organisation to change could result in a decline in
sales and with competitors racing ahead.
The process of NPD is crucial within an organisation.
Products go through the stages of their lifecycle and
will eventually have to be replaced There are eight
stages of new product development. These stages
will be discussed briefly below:
 Stage 1: Idea generation

• New product ideas have to come from

somewhere. But where do organisations get
their ideas for NPD? Some sources include:
• Within the company i.e. employees
Competitors.
Customers
Distributors, Supplies and others.
 Stage 2: Idea Screening

• This process involves shifting through the

ideas generated above and selecting ones
which are feasible and workable to develop.
Pursing non feasible ideas can clearly be costly
for the company.
• Stage 3: Concept Development and Testing
• The organisation may have come across what they
believe to be a feasible idea, however, the idea
needs to be taken to the target audience. What do
they think about the idea? Will it be practical and
feasible? Will it offer the benefit that the
organisation hopes it will? or have they overlooked
certain issues? Note the idea and concept is taken
to the target audience not a working prototype at
this stage.
Stage 4: Marketing Strategy and Development

• How will the product/service idea be launched

within the market? A proposed marketing
strategy will be written laying out the
marketing mix strategy of the product, the
segmentation, targeting and positioning
strategy sales and profits that are expected.
 Stage 5: Business Analysis

• The company has a great idea, the marketing

strategy seems feasible, but will the product
be financially worth while in the long run? The
business analysis stage looks more deeply into
the cashflow the product could generate,
what the cost will be, how much market
shares the product may achieve and the
expected life of the product..
 Stage 6: Product Development

• Finally it is at this stage that a prototype is

finally produced. The prototype will clearly
run through all the desired tests, and be
presented to the target audience to see if
changes need to be made
 Stage 7: Test Marketing

• Test marketing means testing the product

within a specific area. The product will be
launched within a particular region so the
marketing mix strategy can be monitored and
if needed, be modified before national launch.
 Stage 8: Commercialization

• If the test marketing stage has been successful

then the product will go for national launch.
There are certain factors that need to be taken
into consideration before a product is
launched nationally. These are timing, how the
product will be launched, where the product
will be launched, will there be a national roll
out or will it be region by region?
• Branding:
• The process used to create a distinct identity
of a product. It is the process of using a name,
term, symbol or design individually or in some
combination to identify a product.
• Brand : Name, term, sign, design or some
combination of the above used to identify the
products of the seller and to differentiate
them from those of competitors.
• Qualities of a Good Brand Name
• 1. Short, easy to pronounce, spell and remember(Rin,
Vim, Ponds)
• 2. Suggest product benefits and quality (Genteel, Boost)
• 3. Distinctive (Zodiac, Safari)
• 4. adaptable to packing or labeling requirements, to
different advertising media and to different languages.
• 5. Versatile to accommodate new products(Maggi)
• 6. Capable of being registered and protected legally
• 7. Have staying power(should not get outdated easily.
• .
 Advantages of Branding-
• Advantages to the marketers:
• 1. Enables product differentiation:.
• Distinguishes the firms products from that of its competitors,
thus secures and controls its markets.
• 2. Helps in advertising and display programmes:
• Without a brand, the advertiser can only create an awareness
about the generic product and not be sure of the sale of his
brand.
• 3. Differential pricing:
• As when customers like and become used to a brand, they would
agree to pay a little more for it than the competing product
• 4. Ease in introduction of a new product minimizes selling costs –
enjoys the reflected glory of the brand
 Advantages to Customers:
• 1. Helps in product identification:
• If customer is satisfied with a brand, he will not make
a close inspection every time.
• 2. Ensures quality:
• deviation in quality, customers can have a recourse to
the manufacturer/marketer. ↑ confidence and level
of satisfaction of customers
• 3. Status symbol:
• Because of their quality, customers feel proud of
suing them and so ↑ level of satisfaction of customers
 (ii) Packaging:
. Act of designing and producing the container or wrapper of a product.
Good packaging often helps in selling the product so it is called a
silent salesman
Levels of Packaging
• 1. Primary Package: refers to the product’s immediate container e.g.
toffee in a wrapper, a match box.
• 2. Secondary Package: refers to additional layers of protection that
are kept till the product is ready for use e.g. a Colgate toothpaste
usually comes in a card board box.
• 3. Transportation Package: refers to further packaging components
necessary for storage, identification and transportation e.g. package
of toffees are put into corrugated boxes for storing at a
manufacturer’s warehouse and for transportation.
• Functions of Packaging
• 1. Product Identification: Packaging helps in
identification of the product.
• 2. Product Protection: The main function of the
packing is to provide protection to the product from
dirt, insects and breakage.
• 3. Convenience: It provides convenience in carriage,
stocking and in consumption.
• 4. Product Promotion: Packaging simplifies the work
of sales promotion.
 Advantages of Packaging
• Rising Standards Of Health And Sanitation – As
chances of adulteration in such goods are minimized
• Self-Service Outlets – so some of the traditional role
assigned to personal selling w.r.t promotion has gone
to packaging.
• Innovational Opportunities – innovation on packaging
used to market products e.g. tetra packs for milk.
• Product differentiation – colour, size, material etc of
packaging makes a difference in perception of
customers about the quality of the product.
 Labelling:
• Labelling means putting identification marks on the package.
Label is a carrier of information & provides information like –
name of the product, name of the manufacturer, contents of
the product, expiry and manufacturing date, general
information for use, weight etc.
• Labels perform following functions:
• 1. Identify the product: It helps the customers to identify the
product from the various types available. For example: We can
easily identify a Cadbury chocolate from the various chocolates
by purple colour of its label.
• 2. Describe the product and specify its contents:
• The manufacturer prints all the information related to the
product.
3. Grading of products: With the help of label, products can be
graded indifferent categories for example: Brook Bond Red
Label, Brook Bond Yellow Label, Green Label etc.

4. Helps in promotion of products: Attractive and colourful

labels excite the customers and induce them to buy the
products. For example: 40%extra free mentioned on detergent
etc.
5. Providing information required by law: There is legal
compulsion to print batch no., contents, max retail price,
weight/volume on all the products and statutory warning on the
packet of cigarettes, “Smoking is injuries of health”: In case of
hazard on/poisonous material appropriate safety warnings need
to be put.
• Define the Problem-The foremost decision that every
firm has to undertake is to find out the problem for
which the research is to be conducted.The problem
must be defined adequately because if it is too vague,
then it may result in the wastage of scarce resources
and if it is too narrow, then the exact conclusion cannot
be drawn.In order to define the problem appropriately,
each firm must have a clear answer to the questions viz.
What is to be researched (content and the scope)? And
Why the research is to be done (decisions that are to be
made)?
• Develop the Research Plan– This step involves
gathering the information relevant to the research
objective. It includes:
• Data Sources: The researcher can collect the data
pertaining to the research problem from either the
primary source or the secondary source or both the
sources of information. The primary source is the
first-hand data that does not exist in any books or
research reports whereas the secondary data is the
second-hand data which is available in the books,
journals, reports, etc.
 Research Approaches
• The Secondary data are readily available in books, journals,
magazines, reports, online, etc. But the primary data have to be
collected and to do so, the following research can be conducted:
– Observational Research: The researcher can collect the information by just
observing the happenings in the market and sometimes having a friendly
conversation with the customers to know about their purchase experiences.
– Ethnographic Research: It is one of the forms of an observation research
where the researcher studies an individual in the real life situation and not
under any market setup or a lab. The purpose of this research is to know the
way people live (their lifestyles), What they do to earn their livelihood, how
they consume goods and services, what they need in their personal and
professional lives etc.
– Focus Group Research: It is a form of group discussion wherein six to ten
people gather and discuss the common topic given by the moderator.A
moderator is a person who conducts the group discussion and is skilled in
group dynamics. He also keeps the discussion focused on the topic so that
relevant information can be obtained from the group members.
– Survey Research: These are the descriptive research
generally conducted to know the about the customer’s
knowledge about the product, their preferences, and
satisfaction level. The best way to conduct surveys is
through the Questionnaires.
– Behavioral Data: The customer’s actual purchases at the
store reflects its behavior and the choice of products.
Thus observing what customers are buying gives more
accurate information about the customer rather than the
planned answers given by them in the surveys.
– Experimental research: This is done to find out the cause
and effect relationships. This research is undertaken to
study the effects of change in the customer’s behavior
due to the change in the product’s attributes.
• Sampling plan: Once the research approach is decided, the
researcher has to design a sampling plan and have to decide
on the following:
– The sampling Unit i.e. whom, shall we survey?
– The sample size, i.e., How many units in the population shall be
surveyed?
– The sampling procedure, i.e. How the respondents shall be chosen?
• Contact Methods: The researcher has to choose the medium
through which the respondents can be contacted. The
respondents can be reached via emails, telephone, in person
or online.
• Collect the Information: This is one of the most expensive
methods of marketing research. At this stage, the researcher has
to adopt the methods to collect the information, he may find it
difficult to gather the correct information because of the
respondent’s biasedness, unwillingness to give answers or not at
home.
• Analyze the Information: Once the information is collected the
next step is to organize it in such a way that some analysis can be
obtained. The researchers apply several statistical techniques to
perform the analysis, such as they compute averages and
measures of dispersion. Also, some advanced decision models are
used to analyze the data.
• Present the Findings: Finally, all the findings and the
research are shown to the top management level viz.
Managing director, CEO, or board of directors to make
the marketing decisions in line with the research.
• Make the Decision: This is the last step of the
marketing research, once the findings are presented
to the top level management it is up to them either
to rely on the findings and take decisions or discard
the findings as unsuitable.
• Thus, marketing research is done to gather all the
relevant information about the market and design the
marketing strategies accordingly.
A MODEL
 An Aid to Marketing
• Market research is available as a service to help any company, service
provider, individual or organisation make better, more informed
decisions. The more research is embedded in the strategic plans of a
firm, the better equipped it is to deal with the changing environment
within which it operates. Here is a list outlining the main benefits of
investing in marketing research:
• It helps businesses strengthen their position. Knowledge is power.
Use market research to gain a better perspective and understanding of
your market or target audience and ensure that your firm stays ahead
of the competition.
• It minimises any investment risk. This is a simple but vitally important
and often business critical consideration. Spending what is often only
a small proportion of your investment on researching and testing the
market, product, concept or idea makes sound business sense.
• It identifies potential threats and opportunities. Both primary
research (fieldwork) and secondary research (desk research) can
be utilised as an insurance policy against both obvious dangers
on the road ahead. Coupling this with some qualitative research
for deeper probing can highlight certain opportunities or warning
signs that may otherwise have been missed.
• It helps to discover your’s and your competitor’s strengths and
weaknesses. It’s vitally important to adopt an ‘eye’s wide open’
approach to any market research project which is why it’s often
advised to work with a market research agency to ensure
completely unbiased reporting. Use research findings to adapt
and learn from your own weaknesses whilst capitalising on your
new-found knowledge from competitor analysis to take
advantage and forge ahead of the pack
• It facilitates strategic planning. What is the foundation of your
business strategy? If it’s evidence based and you’ve taken the time to
invest in your own (and hopefully ongoing) research, you can be
confident that you’ve given yourself the best chance to achieve your
business goals.
• It helps in spotting emerging trends. Staying ahead in business is
often about being the first, being the best or doing something that
no-one else has thought about. Regularly taking the ‘pulse’ of what’s
hot and what’s not in your industry is a key discipline. Speak to your
research agency or research consultant about the range of
techniques you can employ to spot and exploit these trends.
• It assists businesses to stay ahead of the competition. Being the
best demands a relentlessness to keep getting the basics right
combined with a curiosity and willingness to innovate. Knowing how
to leverage the findings and insights you extract from market
research, audience research and data research are the keys to both
getting ahead and staying ahead.
• It provides revenue projections. A market forecast is a core component of a
market analysis projecting the future numbers, characteristics, and trends in
your target market. Potential customers can then be divided into segments
. You want to focus on the best market – which is not necessarily the largest
one or the market with the highest growth – it will be the one that matches
your own company profile.
• It focuses on customer needs and demands. There are so many important
reasons to keep your customers at the centre of all that you do in business and
the same goes for research. With so many ways to reach customers using
online panels, web communities, telephone survey’s, depth interviews and
focus groups, market research keeps you attentive to where you can improve
your proposition, customer service or product offering.
• It helps to evaluate the success of a business against benchmarks. A PWC
survey found that companies that benchmark achieve 69% faster growth and
45% greater productivity than those that don’t. Use market research for
competitor research, employee engagement surveys, and to highlight
performance or knowledge gaps and areas for potential growth. This will
open your company up to thinking about new methods, ideas and tools to
improve your business effectiveness
 Forecasting
• According to Evan J. Douglas, “Demand estimation
(forecasting) may be defined as a process of
finding values for demand in future time periods.”
• In the words of Cundiff and Still, “Demand
forecasting is an estimate of sales during a
specified future period based on proposed
marketing plan and a set of particular
uncontrollable and competitive forces.”
 Significance of demand forecasting
• i. Fulfilling objectives:
• Implies that every business unit starts with certain
pre-decided objectives. Demand forecasting helps in
fulfilling these objectives. An organization estimates
the current demand for its products and services in
the market and move forward to achieve the set goals.
• For example, an organization has set a target of selling
50, 000 units of its products. In such a case, the
organization would perform demand forecasting for its
products. If the demand for the organization’s
products is low, the organization would take corrective
actions, so that the set objective can be achieved.
 ii. Preparing the budget:

• Plays a crucial role in making budget by

estimating costs and expected revenues. For
instance, an organization has forecasted that the
demand for its product, which is priced at Rs. 10,
would be 10, 00, 00 units. In such a case, the total
expected revenue would be 10* 100000 = Rs. 10,
00, 000. In this way, demand forecasting enables
organizations to prepare their budget.
 iii. Stabilizing employment and production:

• Helps an organization to control its production and

recruitment activities. Producing according to the
forecasted demand of products helps in avoiding
the wastage of the resources of an organization.
This further helps an organization to hire human
resource according to requirement. For example, if
an organization expects a rise in the demand for its
products, it may opt for extra labor to fulfill the
increased demand.
• iv. Expanding organizations:
Implies that demand forecasting helps in deciding
about the expansion of the business of the
organization. If the expected demand for products
is higher, then the organization may plan to
expand further. On the other hand, if the demand
for products is expected to fall, the organization
may cut down the investment in the business.
 v. Taking Management Decisions:

• Helps in making critical decisions, such as

deciding the plant capacity, determining the
requirement of raw material, and ensuring the
availability of labor and capital.
Methods of Demand Forecasting
 Consumer Behaviour
• Consumer behaviour is the study of how, where,
when, and why people buy, use and get rid of
products or services. It refers to the multi-step,
decision-making process in which buyers engage
and the actions they take to satisfy their needs
and wants in the marketplace.
• Consumer behaviour is the study of
individuals, groups, or organizations and the
processes they use to select, secure, and
dispose of products, services, experiences, or
ideas to satisfy needs. The impact, these
processes have on the consumer and society is
a significant aspect of consumer behaviour.
• Ostrow & smith have defined consumer
behaviour as “actions of consumers in the
marketplace and the underlying motives for
those actions. It includes the study of what
they buy, where they buy, how often they buy,
and how often they use it”.
• 2 Most Important Factors: Internal and External
Factors
• The factors that influence Consumer Behavior can be
divided into internal Factors and External Factors.
• 1. Internal Factors:
• These are factors that reside within the individual, in
other words it is the result of a person’s behavior or
thinking.
• (a) Perception:
• It is the way we look at things, it is the thought in an
individual’s mind.
• Example- I may think or feel that a particular movie is
a waste of time, but my friend may find the movie
enjoyable and entertaining.
• (b) Life Style:
• It is the way an individual leads his/her life. Some
people have a simple lifestyle, some luxurious
lifestyle and some, a complex lifestyle. The way we
intend to live our lives affects our thinking and
behavior.
• Example- A CEO may be seen driving a luxury car or
may be seen driving an ordinary car, which type of
car he chooses to drive, is his way of living, that is, it
is his lifestyle.
• (c) Motivation:
• It is a drive, an urge or a feeling within an individual
to do something or act in a particular manner. In
consumer behavior also the extent to which an
individual is motivated influences his/her behavior.
• Example- A person’s motivation may drive him or
her to take admission in a particular school or
college, or the motivation from a friend or relative
may drive a person to purchase a particular
motorbike.
• (d) Superiority or Inferiority Thinking:
• The way a person thinks of himself, that is
superior or inferior in society affects the
behavior while purchasing goods and services.
• Example- A superior thinking person may buy
branded products and luxury items, where as
an inferior type of person may be shy and not
purchase expensive items etc.
• (e) Emotions:
• The sensitivity or feelings of a person are very
important in human behavior. The emotions of
a person will make him buy or reject a product.
• Example- A person may get emotional listening
to music and take his friend to a dinner, or a
person may reject the use of some products
which are bad for health or bad for the
environment, like coats made from animal skin.
• (f) Memory:
• An individual’s capacity to recollect previous
events or situations is memory. The memory of a
person may influence his behavior during
purchases.
• Example- The memory of a child going to the ice
cream parlor with his parents may drive the child
to go to the same place or eat the same brand of
ice cream even when he becomes an adult.
 2. External Factors:

• These are factors that lie outside the individual’s

thought process, but influence the thinking of the
individual and his/her behavior.
• (a) Society:
• It is the group of people among whom we live. The
society has certain norms which are to be followed
by individuals living in that particular society.
• Example- People living in high class society will get
influenced or attracted towards branded and luxury
products.
• (b) Culture:
• These are beliefs and values that have evolved
over centuries. Every place or region has its own
unique culture. The culture in which an individual
lives greatly affects his behavior towards the
purchase of products.
• Example- In India we have a traditional culture,
therefore people’s behavior towards western
clothing will be conservative as compared to
ethnic wear.
• c) Family & Friends:
• Our close circle of people, that is our family and friends
have a great influence on our purchase behavior. We
have seen on many occasions that we have taken
decisions based on the information received from our
family and friends.
• Example- A friend might suggest and influence you to
buy a particular bike, or the child may influence the
father to buy a particular mobile phone.
• (d) Social Class:
• The society is divided into different classes, like higher
income class, middle income group and lower income
group etc. each social class has its key features and these
features affect the buying behavior of individuals.
• Example- A person from a higher income group may
purchase a luxury car whereas a person from a middle
income group will purchase a Maruti Alto or any other
smaller car.
• (e) Demographics:
• It is the study of the population. Demographics include
the age, gender, income, occupation, lifestyle, and social
class etc. of individuals. All this affects the buying
behavior of individuals.
• Example- Age and gender influence buying behavior. A
young person may be very attracted to the new mobile
handsets or a girl may be more interested in beauty
products than a boy.
• (f) Technological Changes:
• In the present scenario technology cannot be left out,
due to the fast and vast changes happening in
technology and its use in marketing has greatly altered
the buying behavior of people.
• Example- Today people have changed their attitude
towards retail shopping, people are now buying from
online retail stores like Amazon and Flipkart rather than
going to physical shops. All this has happened because
of extensive use of technology. Today, we can buy a car
with the click of a button.
• (g) Economic Situation:
• Changes in the economic situation has an impact on the
buying behavior of people. During an economic slowdown
the attitude of people changes and during a growth period
there is a different attitude towards buying.
• Example- During the 2008-2009 economic slowdown we
saw that people stopped purchasing goods that were not
urgent, like luxury cars, apartments etc. from 2015 onwards
we are seeing a growth in the economy and this is
influencing the people to spend more as they are earning
more.
The Buyer Decision Process
Five stages in the buyer decision process
1. Need recognition
2. Information search
3. Evaluation of alternatives
4. Purchase decision
5. Post-purchase behavior

5-96
The Buyer Decision Process
Need Recognition
• Need recognition occurs when the buyer recognizes
a problem or need triggered by:
• Internal stimuli
• External stimuli

5-97
The Buyer Decision Process
Information Search

Information search is the amount of information needed

in the buying process and depends on:
• The strength of the drive,
• The amount of information you start with,
• The ease of obtaining the information,
• The value placed on the additional information, and
• The satisfaction from searching.

5-98
The Buyer Decision Process
Information Search

Sources of information:
• Personal sources—family and friends
• Commercial sources—advertising, Internet
• Public sources—mass media, consumer
organizations
• Experiential sources—handling, examining, using
the product

5-99
 Sources and Role of Information

5-100
The Buyer Decision Process
Evaluation of Alternatives

Evaluation of alternatives is how the consumer

processes information to arrive at brand choices.

5-101
The Buyer Decision Process
Purchase Decision
• The purchase decision is the act by the consumer to
buy the most preferred brand.
• The purchase decision can be affected by:
• Attitudes of others
• Unexpected situational factors

5-102
The Buyer Decision Process
Post-Purchase Decision
• The post-purchase decision is the satisfaction or
dissatisfaction the consumer feels about the
purchase.
• Relationship between:
• Consumer’s expectations
• Product’s perceived performance

5-103
The Buyer Decision Process
Post-Purchase Decision
• The larger the gap between expectation and
performance, the greater the consumer’s
dissatisfaction.
• Cognitive dissonance is the discomfort caused by a
post-purchase conflict

5-104
The Buyer Decision Process
Post-Purchase Decision
• Customer satisfaction is a key to building profitable
relationships with consumers—to keeping and
growing consumers and reaping their customer
lifetime value.

5-105
• If in an organization, many customers diverge their way to
other organizations and customer acquisition program
shows less aggressiveness then the organization faces
terrible cash flow problems. This is the time when tracking
the number of customers in each stage of customer life
cycle becomes essential. This helps the organization to
determine the purchasing power and pattern of customer
and coping up the cash flow problem. There are basically
following stages of customer life cycle:
• Prospects- Prospects are the people who are not actual customers but could be converted
into one. These people should be treated like initial customers as they have the potential
value same as that of a customer. Initially the prospect makes a set of expectation regarding
the products and services towards the supplier. If supplier wins to meet the expectation of
the customer, the supplier has the golden chance to convert the prospect into liable
customer. During the process it is very important for the supplier to meet all the cut off’s of
the prospect by providing efficient marketing communications and explaining the value of
having business with them.
• First time buyers- After making the first buy, the customer enters this stage. Such customers
probably have the lowest retention rate as they have not yet explored all the facets offered
by the supplier. They may fall in satisfied customers’ category but have not yet evaluated the
product features. Hence it is the duty of supplier to convince them more on the product
value and services to meet their second level of expectation. If they succeed in doing this
then customers would continue to buy the products and could be retained as long as they are
overall satisfied. During this process the failure of meeting even one aspect of customer
could cause the customer to defect.
• Early repeat buyers- Customers will fall into this stage when they make at least one repeated buy.
These customers are more tended towards regular buying as compared to the first time buyers.
Suppliers have chance of getting more and more business out of them as they have already created
influence on them. However, these are the satisfied customers but still they are in process to
evaluate the relationship between the two parties, hence a small mishap could lead to defect these
valuable customers.
• Core Customers- Customers are said to be core customers when they are fully satisfied with the
product value and services provided to them as well as when the supplier is able to maintain a
quality relationship with them. These customers are flexible and considerable as they ignore small
mistakes which they know, will be efficiently and quickly resolved. Having highest retention rates
these customers are the most valuable assets for an organization and it is important to give special
treatment to these customers. Unless and until there is major problem, these customers do not
defect.
• Core Defectors- There comes a stage when the core customers tend to switch to different supplier
due to some specific reasons. These reasons include availability of more efficient and competitive
products and brands in market, any of the important service not entertained or any defect not
rectified within a given time-frame, boredom due to same product usage repeatedly etc. It is difficult
to retain customers if above reasons are pertained. But strategically coping up with the situation
could result in retaining them.
• Price is the value that is put to a product or
service and is the result of a complex set of
calculations, research and understanding and
risk taking ability. A pricing strategy takes into
account segments, ability to pay, market
conditions, competitor actions, trade margins
and input costs, amongst others. It is targeted
at the defined customers and against
competitors.
 Pricing strategies:
•
Premium pricing: high price is used as a defining criterion.
Such pricing strategies work in segments and industries
where a strong competitive advantage exists for the
company. Example: Porche in cars and Gillette in blades.

Penetration pricing: price is set artificially low to gain market

share quickly. This is done when a new product is being
launched. It is understood that prices will be raised once the
promotion period is over and market share objectives are
achieved. Example: Mobile phone rates in India; housing
loans etc.
• Economy pricing: no-frills price. Margins are wafer thin;
overheads like marketing and advertising costs are very low.
Targets the mass market and high market share. Example:
Friendly wash detergents; Nirma; local tea producers.

Skimming strategy: high price is charged for a product till

such time as competitors allow after which prices can be
dropped. The idea is to recover maximum money before the
product or segment attracts more competitors who will lower
profits for all concerned. Example: the earliest prices for
mobile phones, VCRs and other electronic items where a few
players ruled attracted lower cost Asian players.

These are the four basic strategies, variations of which are

used in the industry.
 Channel of distribution
• A channel of distribution refers to a path or
route that a good or service takes in order to
reach the hands of the ultimate consumer. In
other words, it is a chain of businesses or
intermediaries through which a good or service
passes until it reaches the end consumer.
• Distribution channels in marketing are a key
element in the entire marketing strategy. It
helps the business in expanding its reach and
grows its revenue.
• Channels of distribution are very important for
any firm because of the following:
• (i) Distribution channel is an important element of
marketing mix of a firm and other elements are
closely related with interdependence on the
distribution channel. Other marketing decisions
like pricing, promotion and physical distribution
are highly affected by this.
• (ii) A sound distribution channel enables the firm
to cut down cost and maximize its sales volume.
• (iii) The cost involved in the use of distribution
channels adds up into the price of the product that
the ultimate customer has to pay. Thus it is
important to choose the distribution channel wisely.
• (iv) A product or service is really useful to the
consumer only when it is available at the right time
and at the right price. Distribution channels ensure
this.
• (v) Due to right distribution channels fluctuations in
the production can be reduced which ensures
steady employment and proper budgetary control.
 Factor # 1. Market Considerations:

• The following features of the market should be analysed to

determine the channels:
• (a) Consumer or Industrial Market:
• If the product is intended for industrial market or industrial users,
the channel of distribution will be a short one. Since industrial users
purchase in large quantities, they can purchase directly from the
producers or manufacturers, i.e., there is no need of retailers. The
manufacturer can establish contacts with the industrial users by
sending his agents. But in case of product meant for the consumers,
retailers may have to be included in the channels of distribution.
• (b) Number of Potential Customers:
• A large potential market is likely to put weight in favour of the use
of middlemen. If the number of customers is relatively small, the
manufacturer may be able to sell directly by using his own sales
force as customer handling would not be difficult.
• (c) Size of Order:
• Direct selling is convenient and economical where
customers place order in big lots as in case of
industrial goods. But where the product is sold in
small quantities, middlemen are used to distribute
such products. The same manufacturer may adopt
different channels to distribute his product. For
instance, a manufacturer of food products may sell
directly to big retail stores and may use wholesalers
to sell to small retailers.
• (d) Buying Habits of Customers:
• The customer buying habits like the time he is
willing to spend, the desire for credit, the
preference for personal attention and the
preference for one stop shopping significantly
affect the choice of distribution channels. For
example, cigarettes are purchased in ones and
twos, and rarely in packets. This calls for need for
retail stalls.
• (e) Geographical Concentration of Market:
• Where prospective customers are located in a
particular geographical region, direct selling is
more feasible than it would be, if the market
were spread over the whole country. Use of
wholesalers and retailers may become
essential to sell the product to the widely
dispersed consumers or industrial users.
• Factor # 2. Product Considerations:
• The type and nature of the product influences the number of
type of middlemen to be chosen for distributing the product.
• The important factors with regard to the product are as
follows:
• (a) Unit Value:
• Usually, if the unit value of the product is lower and the
turnover is higher, the channels of distribution will be longer.
For instance, products like cosmetics, stationery and small
accessory equipment are distributed through agents,
wholesalers and retailers. Products of high value like
jewellery and industrial machines are sold directly to the
users.
• (b) Product Line:
• A manufacturer manufacturing several products in
the same line will sell directly or through retailers
since it is economical. But a manufacturer with only
one item may have to use wholesalers and retailers to
sell his product.
• (c) Standardised Product:
• Standardised products can be distributed through
longer channels because their brand names are very
popular. But custom made and unstandardised
products can more easily be sold directly by the
producers to the user.
• (d) Technical Nature:
• Industrial products which are highly technical, say air
conditioners and super computers, are often distributed
directly to the industrial users. The manufacturer of
such a product can appoint sales engineers who can
explain the product to the potential customers and
provide presale and after sale service to them.
• But consumer products of technical nature are generally
sold direct and through retailers. This is because of the
fact that consumer products are sold in large number
and it is not feasible for the manufacturer to provide
after-sale service to the consumers as in case of
television sets and refrigerators.
• (e) Bulk and Weight:
• Bulky and heavy goods are distributed directly to users in
order to minimise the physical handling of the product
because transportation of such a product involves huge cost.
• (f) Perishability:
• The channels of distribution are short in case of products
subject to physical decay or fashion change. The producers
of perishable products generally sell directly to the
consumers or sell through the middlemen who have the
special storage facilities. Manufacturers of non-perishable
commodities have a wider choice in the channel selection.
• Factor # 3. Company Considerations:
• The nature and size of the business firm have an important
impact on the selection of channels of distribution.
• Following factors are important in this regard:
• (a) Volume of Production:
• A big manufacturer may find it profitable to sell directly to
customers through his sales force. If he is manufacturing a
wide range of products, he may sell his products by opening
retail outlets in different parts of the country. But a small
manufacturer with only a small number of items cannot afford
to sell directly because of his small scale operations.
• He can engage wholesalers and/or retailers to sell his
products. And if a big manufacturer has his manufacturing
units scattered in different parts of the country, it is more
economical to engage wholesalers and retailers to sell his
products.
• (b) Financial Resources:
• A financially strong company can distribute products by
employing its own sales force and opening retail
outlets. But a financially weak company which cannot
invest money in distribution will have to use
middlemen to sell its output.
• (c) Experience and Competence of Management:
• If a company’s management is having sufficient
experience and know-how to market its products,
preference should be given to distribute products
directly. A company lacking this ability and experience
will often rely heavily on middlemen to do the
• (d) Services Provided by the Channels:
• The choice of a channel of distribution is also influenced by
the services provided by the manufacturers. A
manufacturer can find good retailers only if the marketing
department undertakes sufficient advertising. Some
manufacturers of technical products undertake to provide
after- sale service. Such manufacturer can also get reputed
retailers for selling its products.
• (e) Desire for Control of Channels:
• A manufacturer who wants to control the distribution of
his product will select a short channel of distribution. He
may do so even though the distribution cost is higher if he
feels that the marketing department can give aggressive
promotion to the product.
• Factor # 4. Middlemen Considerations:
• Certain factors related to the middlemen which
influence the channel selection are as follows:
• (a) Availability of Desired Middlemen or Intermediaries:
• A manufacturer will rely on middlemen if they operate
according to his desire. The marketer may not entrust
product to a middleman who is carrying competitive
products. In such a case, it may prefer to open branches
to sell products directly.
• (b) Financial Ability:
• A large manufacturer will generally select those
middlemen who are financially strong, can provide credit
facilities to the customers, and pay their bills to the
manufacturer regularly and promptly.
• (c) Attitude of Middlemen:
• Sometimes, middlemen are not prepared to carry a
manufacturer’s product because of the non-
acceptability of marketing policies. For instance, a
retailer may want sole selling agency for a particular
region or a guarantee against price reduction for
handling the products of the manufacturer.
• d) Sales Potential:
• A manufacturer will generally select a channel
offering the greatest potential sales volume over
the long-run, though it is very difficult to assess
which channel will generate the largest sales
volume.
• ( (e) Cost:
• The manufacturers also consider the cost of selling through alternative
channels. But it does not mean that a middleman charging high cost
would be excluded from consideration. A manufacturer may select even
a high cost charging middleman who provides many services to the
customers which are not provided by other middlemen. This would
provide added value to the customer.
• (f) Competition and Legal Constraints:
• Many times, the manufacturers are compelled to use the same channels
of distribution which are being used by the competitors. Government
regulations also affect the choice of middlemen. For instance, a
pharmaceutical company can market its product through licensed
chemists only
What is Promotion? It refers to the use of communication with
the twin objectives of informing potential customers about
a product and persuading them to buy it
Promotion involves disseminating information about the
product, product line, brand, or company. It is one of the
four keys aspects of the marketing mix. (the other three
elements are product marketing, pricing and distribution.)
To generate sales and profits, the benefits of product have
to be communicated to customers. In marketing this is
commonly known as “promotions”
 PROMOTION MIX
• Specific combination of promotional methods
such as print or broadcast advertising, direct
marketing, personal selling, point of sale
display, merchandising, etc, used for one
product or a family of products.
 ADVERTISING
• This means of providing the most persuasive possible selling message to the
right prospects at the lowest possible cost.
• Kotler and Armstrong provide an alternative definition :- Advertising is any
paid form of non-personal presentation and promotion of ideas, goods and
services through mass media such as Newspapers, Magazines, Television or
Radio identified sponsor.
• It is impersonal form of promotion – In advertising there is no personal
connection between the firm and the public who reads or sees the
advertisement. It is the most visible form of promotional tools – The
advertising of a particular product can be done through putting up posters,
banners, television ads, radio or so on the internet.
• Medium used are radio, T.V, internet, newspaper for advertising – The most
effective method of advertising is through media. It can be done through
television ads, internet links, radio and newspaper. Identifies sponsor – It is
undertaken by some identified individuals or company who makes the
advertising efforts and also bears the cost of it
 SALES PROMOTION
• It refers to the short term incentives, which are designed to
encourage the buyers to make immediate purchase of a product
or service. It may include an advertising campaign, increased PR
activity, a free sample campaign, offering free gifts or trading
stamps, arranging demonstrations or exhibitions, setting up
competitions with attractive prizes, temporary price reductions,
door-to-door calling, telemarketing, personal letters on other
methods.
• Short term incentives offered to encourage sales – Giving the
customer to try or test your product (especially if it’s a
consumable product). The customer will use the product and if
liked by them, would go to buy that particular product. Gains
intentions and has immediate effects. Example: Rebate, refunds,
discounts, gifts, product quantity, lucky draws stc.
 PERSONAL SELLING
• It involves oral presentation of message in the form of conversation with one or
more prospective customers for the purpose of making sales. Personal selling is
one of the oldest forms of promotion. It involves the use of a sale force to
support a push strategy (encouraging intermediaries to buy the product) or a
pull strategy ( where the role of the sales force may be limited to supporting
retailers and providing after-sale service).
• Oral face to face presentation of message with prospective customer- Here, the
firm appoints sale s persons to go from door to door and advertise their
products. This helps give a personal touch as the sales person explains to the
customer.
• It is flexible and has immediate effect – if a customer wants to inquire in detail
about a particular product they can do so. They can clear all quires regarding the
product and be satisfied.
• Development of relationship – direct contact helps develop personal relationship
with the prospective customers which may important in making sales.
• Example: Door to door demonstrations, explanation and display by salesman.
 PUBLICITY
• It is non personal and non paid form of a communication.
It includes promoting the product through media. It
usually comes in the form of news story, editorial, or
announcements about an organization and/or its product
and services. Techniques used to gain publicity include
news releases, press conferences, feature articles,
photographs, films and videotapes.
• It is unpaid – Does not involve any direct expenditure by
the marketing firm. No identified sponsor – As the
message goes as news item, the sponsor is not identified.
Done through press conference, speeches, annual
reports, events, publications, donations and sponsorship.
 DIRECT MARKETING
• It is concerned with establishing an individual
relationship between the business offering a
product or service and the final customer.
• Direct marketing has been defined by the institute
of direct marketing as: “the planned recording,
analysis and tracking of customer behavior to
develop a relational marketing strategies.”
 PUBLIC RELATIONS
• Building good relationship with the company’s
various publics (stakeholders) building up a
good corporate image. The major tools are
press releases, sponsorships, special events,
web pages. To enhance the positive aspects
and minimize negative factors related to
products and organizations
 Consumer protection
• Consumer protection is the practice of
safeguarding buyers of goods and services,
and the public, against unfair practices in the
marketplace. Consumer protection measures
are often established by law.
 CONSUMER PROTECTION
• The Consumer movement is a socio-economic movement which
seeks to protect the rights of the consumers in relation to the
goods purchased and services availed. Government has accorded
high priority to the programme of consumer protection.

• The Department of Consumer Affairs being a nodal Department

in the field of consumer protection has initiated a number of
steps to promote a responsible and responsive consumer
movement in the country. Such measures include the use of
multi-media for promoting consumer awareness and
encouraging consumers involvement through efforts of
Government and non-governmental organizations and others