Sunday, November 1, 2009
creativity is taken to be the ability to use ones imagination in order to develop new and original idea or products-esrecially in autistic context.
but taking it is a wider perspective, creativity is becoming part and place of corporate culture and a defining factor for business. it is either innovate or fade away and its a corporate fact of life that it is in the face of harrowing competetion that thousands of corporation have set up their own research and have allocated huge assests to creative marketing and distribution techniques.
creativity is the one who provide solution to the complex problems forced by a company or a work place and creative thinking is becomming one of the major forces of production and not a mere cog in a generative force or wheel.
but taking it is a wider perspective, creativity is becoming part and place of corporate culture and a defining factor for business. it is either innovate or fade away and its a corporate fact of life that it is in the face of harrowing competetion that thousands of corporation have set up their own research and have allocated huge assests to creative marketing and distribution techniques.
creativity is the one who provide solution to the complex problems forced by a company or a work place and creative thinking is becomming one of the major forces of production and not a mere cog in a generative force or wheel.
The study of marketing is a highly dynamic field. The field of marketing is constantly emerging and developing. The meaning and scope of marketing has changed over time. The role of marketing in business and society also changes with the socio economic development. The term marketing has treated differently at different period of time. This is reflected through the radical changes in its meaning over time.
In another point of view, Marketing is recognise as a management process which means process involves in planning and implementation of marketing activities. The activities are performed to create exchange that meet individual objectives and organizational objectives. The individual consumers objectives are value and satisfaction while an organization's objectives is profit and growth.
In another point of view, Marketing is recognise as a management process which means process involves in planning and implementation of marketing activities. The activities are performed to create exchange that meet individual objectives and organizational objectives. The individual consumers objectives are value and satisfaction while an organization's objectives is profit and growth.
The evolution of marketing is associated with the development of human society. The development in the fields of science and technology also contribute to the development of marketing.
The development of marketing is relatively recent for many million years, human wants were limited to some food, shelter and simple clothing, human being procured these directly from nature. The caves provide them shelter. They lived by hunting and gathering. People constantly moved from one area to other in search of food. They did not produce any surplus food. There was no exchange activity. Thus there was no scope for marketing.
At first, The seed of marketing was sown when people started to live permantly in village and started farmings. Some farmers were able to produce surplus food. The farmers exchanged the surplus food with other items such as agricultural tools and clothing materials. iniatially they exchange their surplus production through the barter transaction where products are exchanged for product. In the beginning, the exchange was confined to neighbour or with people living in the neighbouring villages.
Then after, the traders in the middle-ages were not satisfied with the local markets. They travelled far and wide for more profitable transaction. This established trade routes on land and sea.
Industrial revolution in europe during the last quarter of eighteenth century brought a total change in the method of production and diatribution of goods and services. Machines were introduced for production. Machine made product replaced the hand-made products. Introduction of machines helped in mass production of goods.
the consumer movement started in the last quarter of the twentieth century. This movement led to the formation of many consumer with groups. These group forced government to design several consumer protection law's all over the world.
The movement for environmental protection has become very strong internationally. This movement is concerned with the damage to the environment caused by forest depletion, environment pollution, acid rain, toxic waste in water bodies and loss of the ozone layer and so on.
The rapid development in computer,telecommunication, and television technology has brought new challenge & opporyunity in marketing. Marketers can know the specific consumer needs and preference through the use of information technology. The internet has already linked most of the countries through telephone. Its membership is rapidly increasing.
Marketing plays very important role in the modern economy. It provide various services to the consumers, ferms and the society.
Marketing creates values for consumers through product and service offers. Marketing adds values to a product or service through the creation of place, time, quanmity and image utilities.
Consumers can exercise a very wide freedom of choice through the marketing activities. Marketing provides variety of goods and services at varying prices among which consumers can select those that match their needs.
The main goal of marketing is to deliver value and satisfaction to consumers. Modern marketing is mainly concernd with understanding consumers needs, wants and preferencesand deliver appropriate products and services that delight consumers.
Marketing provides information on price, quality and the appropriate use of the products. It informs consumers about the product availability thereby reducing consumers search time.
Marketing is mainly concerned withthe creation and delivery of standard of living to the society. Marketing provides a variety of products and services to the society from domestic and foreign sources.
Marketing provides competition, employement and income to a large number of people involved in production distribution and selling activities.
Marketing creates values for consumers through product and service offers. Marketing adds values to a product or service through the creation of place, time, quanmity and image utilities.
Consumers can exercise a very wide freedom of choice through the marketing activities. Marketing provides variety of goods and services at varying prices among which consumers can select those that match their needs.
The main goal of marketing is to deliver value and satisfaction to consumers. Modern marketing is mainly concernd with understanding consumers needs, wants and preferencesand deliver appropriate products and services that delight consumers.
Marketing provides information on price, quality and the appropriate use of the products. It informs consumers about the product availability thereby reducing consumers search time.
Marketing is mainly concerned withthe creation and delivery of standard of living to the society. Marketing provides a variety of products and services to the society from domestic and foreign sources.
Marketing provides competition, employement and income to a large number of people involved in production distribution and selling activities.
There are several views of the term market. In simple term,it is a meeting place for buyers and sellers. Market also means the composite of demand for a particular product or service. It is the place in which buyers and sellers meet, they negotiate, agree on the terms and condition of the transactions, settle payment and exchange ownership of the products.
Types of Market can be classified in the terms of area, volume of business, competition, intensity of demand and nature of the produce sold.
Types of Market can be classified in terms of the location or geographical areas, covered by the market such as domestic market and international market.
In the types of Market, The area of the domestic market is defined by the national boundary. domestic market may occupy size of the market area. it may further be classified into the local market, town market, district market and national market.
In marketing Products are sold across the national boundaries in the international markets.Types of market in international may further be classified into the export market and global market.
A Types of market may be classified into the retail market and wholesale market in terms of the volume of sales.
In marketing Products are sold in small quantity to the final users in a retail market.Retailers buy products as per the weekly demand from wholesalers or directly from the manufactures.
Products are sold to institutional users and retailers in bulk quality in a wholesale market. Wholesalers buy Marketing products in a large quantity, store them for some time and sell to the retailers as per demand.
The numbers of suppliers and buyers in marketing and the intensity of demand for a marketing product determine the level of control and competition in the market. From the view point of control and competition the market is classified as the monopoly market(single supplier), monospony market(single buyer), oligopoly market(few large supplier) and monopolistic or imperfect competition market(many large and small suppliers).
In terms of the intensity of demand and supply of market can either be a buyers market or the sellers market.
There is no competition in the market, there is only one seller and the single seller control the price, quantity, delivery and other marketing operations in a monopoly market.
There is a single buyer for the product and the buyer controls and dictates the price, quality and terms of sale in a monospony market.
A few large sellers sells the marketing product to a large number of buyers in an oligopoly. The suppliers often from cavlets and syndicate and dictate the terms and condition of sales.
There is a large number market sellers of a marketing product who sells the marketing product to a large number of product buyers in imperfect competition. Buyers can choose from a wide range of products at different prices and quality levels.
When the supply of a products exceeds its demand, buyers can exercise their choice freely and control the market forces. This is known as buyers market.
If the demand for a product exceeds its supply,marketing seller can control the price and other terms of sale in the market. This is known as the sellers market.
A marketing product is anything that can be offered to a market for attention, acquisition, use or consumption and that might satisfy a want or need. Marketing Product has the capability of satisfying human needs and wants. In broad sense, marketing product include physical objects, services, persons, place, organization, idea or mixes of these entities viewed on a broad framework. product is everything that ones receives in an exchange.
Marketing Product can broadly be classified into two groups: consumer products and industrial products. This classification is based on the type of buyer who uses them. Products purchased to satisfy personal and family needs are consumer products. food items, clothes, cigarettes, cosmetics, refrigerator, cars etc. are example of consumer products. Marketing Products bought for use in an organization or to make other products are industrial products. Fuel, raw materials, machines, and tools are example of industrial products.Consumer buys product to satisfy their wants, while industrial buyers seek to satisfy their organizational goals.
Marketing Product can broadly be classified into two groups: consumer products and industrial products. This classification is based on the type of buyer who uses them. Products purchased to satisfy personal and family needs are consumer products. food items, clothes, cigarettes, cosmetics, refrigerator, cars etc. are example of consumer products. Marketing Products bought for use in an organization or to make other products are industrial products. Fuel, raw materials, machines, and tools are example of industrial products.Consumer buys product to satisfy their wants, while industrial buyers seek to satisfy their organizational goals.
In market Products can be classified according to the consumer products and industrial products.As we know that consumer market product are the product which is purchased to satisfy personal and family needs.Where as industrial product are the products which is for use in an organization or to make other products. So there are different types of product according to the consumer product and industrial products.
Perishable consumer products are those product which cannot be stored for the long period of time. The time span from production is very short. Marketers have to use few and controlled level of distribution for perishable products. Example of perishable products are green vegetables, fruit, milk and meat.
Non-durable products are those products in market which have relatively longer life tha
n perishable products, but their quality level is reduced if they are stored for long period of time. Non-durable consumer products have short marketing life span as these are consumed by the buyer in a shorter duration. Example of non-duration products are soap, shampoo, cosmetics, bottled or tin packaged food and drinks.
Durable products are those products which have long-lasting characteristics and the consumer uses its benefits for many years.Example of durable products are cars, motors, refrigerators, electric and microwave ovens and many other home appliances.
Consumers buy the necessity products in order to meet their physiological, safety, and social needs.Basic utilities and benefits are attached with the necessity products. Example of necessity products are basic foods items, clothing, furniture, education, entertainment etc.
Consumer buy the luxury product in order to meet their ego and prestige needs.The status, prestige, self-esteem and ego motives influence the purchase of luxury products. Example of luxury products are expensive cars, jewellery, foreign holiday packages, french perfumes, scotch whiskey, etc.
In the high involvement product consumers are highly involved in the information search and evaluation stages of the buying process.Consumers are highly involved when the product is expensive, risky, purchased infrequently and highly self-expensive. in high involvement purchase the consumer has much to learn about product attributes and benefits. For example, a personal computer may be high-involvement product for consumers as they have to find out what is meant by Pentium chip, super- VGA monitor and RAM.
Consumers buy low-involvement products easily without much planning, information search and evaluation. The buying behaviour in low-involvement products is a matter of habit. Consumers have little involvement in the products category, are aware of different brands and their attributes, and do not make detailed comparison between brands. Low-involvement products are generally less expensive, less risky, purchased frequently and not at all self-expressive. example of low-involvement products are a toothpaste, hair combs, tea, coffee etc.
Materials and parts are unprocessed and semi-processed items that will be converted into the final products by a manufacturer. Materials change their form and utility several times while parts will become an actual component of the finished product.Materials are of two categories: Natural Materials and Agricultural Products.
Natural Materials are lying in their natural state such as minerals, oils, and increased by its products of forest and sea.
Agricultural materials are produced through farming, such as rice, wheat, tobacco, sugarcane, fruits, vegetables, milk, wool etc.
Parts do not change their form in course of production.Example of parts are tires, spark plugs, nuts and bolts used in a car, and buttons and zippers for the manufacture of a jacket.
Capital goods are fully manufactured products that are used in the production of other products or for providing services.There are two categories of capital goods -Installations and Equipments.
Installation are generally high priced capital products that have longer lifespan and do not need frequent purchasing.
Equipment helps in the manufacturing process or in course of providing services to customers. They are not used directly in the production process but assist the production activity to run smoothly.
Supplies and Business services are short-lived goods and service. Supplies are of two types: Operating supplies and Maintenance and repair services.
Operating supplies helps in production or in providing services to customers.
Business service include a variety of services required by an organization such as maintenance and repair services (facility maintenance, cleaning, and guarding) and advisory services (legal, management consultancy and advertising).
Perishable consumer products are those product which cannot be stored for the long period of time. The time span from production is very short. Marketers have to use few and controlled level of distribution for perishable products. Example of perishable products are green vegetables, fruit, milk and meat.
Non-durable products are those products in market which have relatively longer life tha
n perishable products, but their quality level is reduced if they are stored for long period of time. Non-durable consumer products have short marketing life span as these are consumed by the buyer in a shorter duration. Example of non-duration products are soap, shampoo, cosmetics, bottled or tin packaged food and drinks.Durable products are those products which have long-lasting characteristics and the consumer uses its benefits for many years.Example of durable products are cars, motors, refrigerators, electric and microwave ovens and many other home appliances.
Consumers buy the necessity products in order to meet their physiological, safety, and social needs.Basic utilities and benefits are attached with the necessity products. Example of necessity products are basic foods items, clothing, furniture, education, entertainment etc.
Consumer buy the luxury product in order to meet their ego and prestige needs.The status, prestige, self-esteem and ego motives influence the purchase of luxury products. Example of luxury products are expensive cars, jewellery, foreign holiday packages, french perfumes, scotch whiskey, etc.
In the high involvement product consumers are highly involved in the information search and evaluation stages of the buying process.Consumers are highly involved when the product is expensive, risky, purchased infrequently and highly self-expensive. in high involvement purchase the consumer has much to learn about product attributes and benefits. For example, a personal computer may be high-involvement product for consumers as they have to find out what is meant by Pentium chip, super- VGA monitor and RAM.
Consumers buy low-involvement products easily without much planning, information search and evaluation. The buying behaviour in low-involvement products is a matter of habit. Consumers have little involvement in the products category, are aware of different brands and their attributes, and do not make detailed comparison between brands. Low-involvement products are generally less expensive, less risky, purchased frequently and not at all self-expressive. example of low-involvement products are a toothpaste, hair combs, tea, coffee etc.
Materials and parts are unprocessed and semi-processed items that will be converted into the final products by a manufacturer. Materials change their form and utility several times while parts will become an actual component of the finished product.Materials are of two categories: Natural Materials and Agricultural Products.
Natural Materials are lying in their natural state such as minerals, oils, and increased by its products of forest and sea.
Agricultural materials are produced through farming, such as rice, wheat, tobacco, sugarcane, fruits, vegetables, milk, wool etc.
Parts do not change their form in course of production.Example of parts are tires, spark plugs, nuts and bolts used in a car, and buttons and zippers for the manufacture of a jacket.
Capital goods are fully manufactured products that are used in the production of other products or for providing services.There are two categories of capital goods -Installations and Equipments.
Installation are generally high priced capital products that have longer lifespan and do not need frequent purchasing.
Equipment helps in the manufacturing process or in course of providing services to customers. They are not used directly in the production process but assist the production activity to run smoothly.
Supplies and Business services are short-lived goods and service. Supplies are of two types: Operating supplies and Maintenance and repair services.
Operating supplies helps in production or in providing services to customers.
Business service include a variety of services required by an organization such as maintenance and repair services (facility maintenance, cleaning, and guarding) and advisory services (legal, management consultancy and advertising).
pricing is the act of determining the exchange value between the purchasing power and utility or satisfaction acquired by an individual, group or an organization through the purchase of goods, services, ideas, rights etc.
Pricing involves many activities permormed within an organization to determine the exchange value such as setting the base price, determining discounts and commissions, and formulating pricing objectives, policies and strategies.
pricing is the most visible but secretly permormed activity in a business organization. an organization's product, distribution and promotion policies are obvious to a careful observer but it is very difficult to find out how a firm arrives at the list price.
Product Promotion is the key elements in marketing. Marketing product Promotion performs the role of communicating to the buyers. Marketing promotion provides valuable information to buyers about the market product, its availability in market, prices, utilities and benefits. This information helps buyers to make a choice decision that favors the firms and its product. Marketing promotion also seeks to stimulate dormant needs of buyers.
It is the oldest business concept. Organization that adopt the production concepts believe that consumers will favor those products that are widely available and low in cost. The production concepts has the following features:
Production oriented organization focuses on high production efficiency and wide distribution coverage. The focuses is on the existing products and all efforts are directed at raising output levels and produce standardized product.
Production concept is based on mass production and mass merchandising of goods and services.
Organization use the lower costs to cut prices and mass merchandising of goods and services.
It assumes that buyers are fully aware of the available brands and given a choice, will generally buy the lowest priced products. The price is assumed to be the critical variables in the buying decisions.
The production manager plays the key role in production oriented organization as he/she has to manage production in several shifts.
Many Japanese companies in the 1960s and 1970s adopted this approach and became successful in international marketing. today, china is practicing this concepts in international marketing. Several Nepalese business enterprises are also working under the production concept.
This business concept is very weak as it assumes price as the only critical variable in buying decisions of consumers. In reality, many non-price factors influence the buying of decisions of consumers.
Production oriented organization focuses on high production efficiency and wide distribution coverage. The focuses is on the existing products and all efforts are directed at raising output levels and produce standardized product.
Production concept is based on mass production and mass merchandising of goods and services.
Organization use the lower costs to cut prices and mass merchandising of goods and services.
It assumes that buyers are fully aware of the available brands and given a choice, will generally buy the lowest priced products. The price is assumed to be the critical variables in the buying decisions.
The production manager plays the key role in production oriented organization as he/she has to manage production in several shifts.
Many Japanese companies in the 1960s and 1970s adopted this approach and became successful in international marketing. today, china is practicing this concepts in international marketing. Several Nepalese business enterprises are also working under the production concept.
This business concept is very weak as it assumes price as the only critical variable in buying decisions of consumers. In reality, many non-price factors influence the buying of decisions of consumers.
Products concepts evolved out of the failure of the production concepts to meet the quality expectation of consumers. Organization that adopts the product concept believes that consumers respond to good quality products that are reasonably priced.
The products concepts has the following features:
The emphasis is on product quality, performance and features.
Organization believes that very little effort is required to sell good quality products that are reasonably priced.
Organization focus on designing long-lasting products and provide warranty for longer periods.
Organization have heavy faith in the role of engineers in development of super performance products.
Several organization have used this concepts (Shaffer's' pen, west-end-watches, Hi-tech shoes) to design and sell very high quality, high performance and long lasting products.
Organization neglected two major factors in this concepts. They are changes in buyer preferences and technology. Buyer preference and technology change over time. The long-lasting, high performance and wide feature products become redundant in the marketplace due to these changes.
The products concepts has the following features:
The emphasis is on product quality, performance and features.
Organization believes that very little effort is required to sell good quality products that are reasonably priced.
Organization focus on designing long-lasting products and provide warranty for longer periods.
Organization have heavy faith in the role of engineers in development of super performance products.
Several organization have used this concepts (Shaffer's' pen, west-end-watches, Hi-tech shoes) to design and sell very high quality, high performance and long lasting products.
Organization neglected two major factors in this concepts. They are changes in buyer preferences and technology. Buyer preference and technology change over time. The long-lasting, high performance and wide feature products become redundant in the marketplace due to these changes.
Branding is very important for the marketers. Organization invest large amount of money to build their brands. Marketers treat well-established brands as one of their important assets. Brands can be sold, rented and licensed to other organizations. Branding plays important role in promotion, value building, image and personality development, product positioning, brand loyalty development, and product line expansion.
Promotion
Brands are the focus of all promotional activities. Advertising, personal selling, sales promotion and publicity are all built around the brand names. Buyers choice of product is mostly made on the basis of brand names.
Value Building
Marketers use brand to build values for consumer in terms of product attributes and benefits. Buyers pay the price of the product in order to obtain these values, Marketers promote special attributes and benefits associated with the brand names to build better values for buyers.
Product Image Development
Product image and personalities are developed and established in the market in order to appeal to a particular group of consumers. These image and personality of the product are built around the brand names and brand marks. These brand images and brand personalities influence buyers choice of product. For instance, Tatamobile presents an image of durability, ponds cream an image of beauty, and Seiko watches an image of high performance.
Product positioning
Branding plays vital role in product positioning. Marketers use the brand value, brand image and brand personality to position their products against competitors products. Product positioning helps the marketer to avoid price comparisons by buyers.
Brand Loyalty
Repeat sales of a product are only possible if it is branded. Organization make long-term marketing investments to build brand patronage and loyalty among the buyers.
Expansion of the product line
Branding has important role to play in expansion of the product line. If all a brand name is well established in the market, the marketers can easily add a new product to the product line under the same brand name. Buyers show little resistance to buy a new product under an established brand name.
Promotion
Brands are the focus of all promotional activities. Advertising, personal selling, sales promotion and publicity are all built around the brand names. Buyers choice of product is mostly made on the basis of brand names.
Value Building
Marketers use brand to build values for consumer in terms of product attributes and benefits. Buyers pay the price of the product in order to obtain these values, Marketers promote special attributes and benefits associated with the brand names to build better values for buyers.
Product Image Development
Product image and personalities are developed and established in the market in order to appeal to a particular group of consumers. These image and personality of the product are built around the brand names and brand marks. These brand images and brand personalities influence buyers choice of product. For instance, Tatamobile presents an image of durability, ponds cream an image of beauty, and Seiko watches an image of high performance.
Product positioning
Branding plays vital role in product positioning. Marketers use the brand value, brand image and brand personality to position their products against competitors products. Product positioning helps the marketer to avoid price comparisons by buyers.
Brand Loyalty
Repeat sales of a product are only possible if it is branded. Organization make long-term marketing investments to build brand patronage and loyalty among the buyers.
Expansion of the product line
Branding has important role to play in expansion of the product line. If all a brand name is well established in the market, the marketers can easily add a new product to the product line under the same brand name. Buyers show little resistance to buy a new product under an established brand name.
Branding involves using an identification feature on the product so that buyers can easily recognize the product and its manufacturer. A brand is a name, term, sign, symbol, or design, or a combination of these intended to identify the products or services of one seller or a group of sellers and to differentiate them from those of competitors.
Brand Concepts
A brand has a several components such as the brand name, brand mark and trademark.
Brand name
A brand name is that part of brand that can be vocalized and includes letters, words, and numbers. for example, Coca-Cola, 7up, Fruity are brand names of soft drinks.
Brand mark
It is that element of the brand that cannot be vocalized but they are equally useful in identification of the products. Brand marks often appear in terms of a sign, symbol, or design. for example the lettering used in Coca-Cola, the uniques bottles of Old Spice after shave lotion or the green bottles of 7up are brand marks.
Trade Mark
A trade mark is a legal designation indicating that the owner of the brand has an exclusive right to use the brand name and the brand mark and others are prohibited by law from using it. A brand mark can be converted into a trade mark only when they are registered with the concerned government office.
Brand Concepts
A brand has a several components such as the brand name, brand mark and trademark.
Brand name
A brand name is that part of brand that can be vocalized and includes letters, words, and numbers. for example, Coca-Cola, 7up, Fruity are brand names of soft drinks.
Brand mark
It is that element of the brand that cannot be vocalized but they are equally useful in identification of the products. Brand marks often appear in terms of a sign, symbol, or design. for example the lettering used in Coca-Cola, the uniques bottles of Old Spice after shave lotion or the green bottles of 7up are brand marks.
Trade Mark
A trade mark is a legal designation indicating that the owner of the brand has an exclusive right to use the brand name and the brand mark and others are prohibited by law from using it. A brand mark can be converted into a trade mark only when they are registered with the concerned government office.
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