Annasaheb Gundeawar College Katol Road Nagpur B B

Annasaheb Gundeawar College Katol Road, Nagpur B. B. A. I PRINCIPLES OF MARKETING MANAGEMENT Dr. Kanchan M. Thakre 19/12/2018

What is Marketing? “Marketing is the process by which companies create customer interest in products or services. It generates the strategy that underlies sales techniques, business communication, and business development. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves. ” — Wikipedia

Nature of Marketing evolves from its multidisciplinary coverage of activities which is as below : • Dynamic Process • Customer/ Competitor Oriented • All Encompassing • Integrating • Creatives

Scope of Marketing • Production Planning • Branding • Packaging • Channels of Distribution • Sales Management • Advertising • Finance • After Sales Service

Importance of Marketing is given below: • Marketing Helps in Transfer, Exchange and Movement of Goods. • Marketing is helpful in raising and maintaining the standard of Living of the community. • Marketing creates Employment. • Marketing as a source of Income and Revenue. • Marketing Acts as a Basis for making decisions • Marketing Acts as a source of New Ideas. • Marketing is helpful in development of an Economy.

Marketing Management

Functions of Marketing 1 • Functions of Exchange 2 • Functions of Physical Distribution 3 • Functions of Facilities

SELLING CONCEPT The selling concept essentially mirrors the thought that consumers will not purchase enough of the company’s products unless large-scale promotional and selling efforts are carried out by it. Selling concept is one of the ideologies in marketing like production concept, product concept, holistic concept etc.

PRODUCTION CONCEPT This concept is the oldest of the concepts in business. It holds that consumers will prefer products that are widely available and inexpensive. Managers focusing on this concept concentrate on achieving high production efficiency, low costs, and mass distribution.

MODERN CONCEPTS OF MARKETING Six Modern Concept of Marketing are as follows Ø Ø Ø Production Concept Product Concept Selling Concept Marketing Concept Consumer Concept Societal Marketing Concept

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