MARKETING ASSIGNMENT

NAME: K.MEKALA
SUBJECT: MARKETING
Topic:
Definition
Global marketing
E marketing
Daley marketing
Concept of marketing
ethics

Date : 12-12-2016
Submitted to :
B.Theeben Kumar

--DEFINITION OF MARKETING:
Marketing is the study and management of exchange relationships.[1][2] The American Marketing
Association has defined marketing as "the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large."

The techniques used in marketing include choosing target markets through market analysis
and market segmentation, as well as understanding methods of influence on the consumer
behavior.

From a societal point of view, marketing provides the link between a society's material
requirements and its economic patterns of response. This way marketing satisfies these needs and
wants through the development of exchange processes and the building of long-term
relationships.

In the case of nonprofit organization marketing, the aim is to deliver a message about the
organization's services to the applicable audience. Governments often employ marketing to
communicate messages with a social purpose, such as a public health or safety message, to
citizens.

Recent approaches in marketing include relationship marketing which focuses on the

consumer, business marketing or industrial marketing which focuses on an organisation or
institution and social marketing with focus on benefits to society.[7] Newer forms of marketing
also use the Internet and are therefore called Internet marketing or more generally e-marketing,
online marketing, 'digital marketing', search engine marketing, or 'desktop advertising'. It
attempts to perfect the segmentation strategy used in traditional marketing. It targets its audience
more precisely, and is sometimes called personalized marketing or one-to-one marketing. 'Direct
marketing' is used by those organisations, such as insurance services and health clubs, that have a
defined customer or membership base they wish to develop strong, on-going relationships with
via personalized communications traditionally through 'direct mail' (postal) communications
and more recently, via e-mail. Additionally, direct marketing will employ broadcast mechanisms
such as press, print, or television campaigns with a strong call to action to attract new customers
or members. Internet marketing is sometimes considered to be broad in scope, because it not
only refers to marketing on the Internet, but also includes marketing done via e-mail, wireless
media as well as driving audiences from traditional marketing methods like radio and billboard
to internet properties or a landing page.

The marketing mix is a business tool used in marketing and by marketers. The marketing mix,
originally coined by Neil Borden, can be used when determining a product or brand's offer, and
is often associated with the four Ps.[8] The four Ps was proposed by professor E. Jerome
McCarthy in the 1960s.[9] The "four P's". Product is the first P representing the actual product. It
is considered the most important element of the marketing mix. Customers buy products to solve
problems or to enhance their lives. Marketers tend to use the term 'product' in a very broad sense,
it can be physical objects, people places, services, organisations and ideas. Price represents the
process of determining the value of a product. Place represents the variables of getting the
product to the consumer such as distribution channels, market coverage, and movement
organization. The last P stands for Promotion which is the process of reaching the target market
and convincing them to buy the product. The four Ps determine how marketing satisfies
consumer needs. They are considered controllable marketing mix factors, meaning that they can
change or be altered as needed. Habits, lifestyle, and diet are all considered to be controllable
risk factors.

In the 1990s, the concept of four C's was introduced as a more customer-driven replacement of
four P's.[10] There are two theories based on four Cs: Lauterborn's four Cs
(consumer, cost, communication, convenience)[11] and Shimizu's four Cs
(commodity, cost, communication, channel) in the 7Cs Compass Model (Co-marketing)
IMPORTANCE OF MARKETING

(1) Marketing Helps in Transfer, Exchange and Movement of Goods:

Marketing is very helpful in transfer, exchange and movement of goods. Goods and services are
made available to customers through various intermediaries viz., wholesalers and retailers etc.
Marketing is helpful to both producers and consumers. To the former, it tells about the specific
needs and preferences of consumers and to the latter about the products that manufacturers can
offer. According to Prof. Haney Hansen Marketing involves the design of the products
acceptable to the consumers and the conduct of those activities which facilitate the transfer of
ownership between seller and buyer.

(2) Marketing Is Helpful In Raising And Maintaining The Standard Of Living Of The
Community:

Marketing is above all the giving of a standard of living to the community. Paul Mazur states,
Marketing is the delivery of standard of living. Professor Malcolm McNair has further added
that Marketing is the creation and delivery of standard of living to the society.

By making available the uninterrupted supply of goods and services to consumers at a reasonable
price, marketing has played an important role in raising and maintaining living standards of the
community. Community comprises of three classes of people i.e., rich, middle and poor.
Everything which is used by these different classes of people is supplied by marketing.

In the modern times, with the emergence of latest marketing techniques even the poorer sections
of society have attained a reasonable level of living standard. This is basically due to large scale
production and lesser prices of commodities and services. Marketing has infact, revolutionised
and modernised the living standard of people in modern times.

(3) Marketing Creates Employment:

Marketing is complex mechanism involving many people in one form or the other. The major
marketing functions are buying, selling, financing, transport, warehousing, risk bearing and
standardisation, etc. In each such function different activities are performed by a large number of
individuals and bodies.

Thus, marketing gives employment to many people. It is estimated that about 40% of total
population is directly or indirectly dependent upon marketing. In the modern era of large scale
production and industrialisation, role of marketing has widened.

This enlarged role of marketing has created many employment opportunities for people.
Converse, Huegy and Mitchell have rightly pointed out that In order to have continuous
production, there must be continuous marketing, only then employment can be sustained and
high level of business activity can be continued.

(4) Marketing as a Source of Income and Revenue:

The performance of marketing function is all important, because it is the only way through which
the concern could generate revenue or income and bring in profits. Buskirk has pointed out that,
Any activity connected with obtaining income is a marketing action. It is all too easy for the
accountant, engineer, etc., to operate under the broad assumption that the Company will realise
many dollars in total sales volume.

However, someone must actually go into the market place and obtain dollars from society in
order to sustain the activities of the company, because without these funds the organisation will
perish.

Marketing does provide many opportunities to earn profits in the process of buying and selling
the goods, by creating time, place and possession utilities. This income and profit are reinvested
in the concern, thereby earning more profits in future. Marketing should be given the greatest
importance, since the very survival of the firm depends on the effectiveness of the
marketing function.

(5) Marketing Acts as a Basis for Making Decisions:

A businessman is confronted with many problems in the form of what, how, when, how much
and for whom to produce? In the past problems was less on account of local markets. There was
a direct link between producer and consumer.

In modern times marketing has become a very complex and tedious task. Marketing has emerged
as new specialised activity along with production.

As a result, producers are depending largely on the mechanism of marketing, to decide what to
produce and sell. With the help of marketing techniques a producer can regulate his production
accordingly.

(6) Marketing Acts as a Source of New Ideas:

The concept of marketing is a dynamic concept. It has changed altogether with the passage of
time. Such changes have far reaching effects on production and distribution. With the rapid
change in tastes and preference of people, marketing has to come up with the same.

Marketing as an instrument of measurement, gives scope for understanding this new demand
pattern and thereby produce and make available the goods accordingly.

(7) Marketing Is Helpful In Development Of An Economy:

Adam Smith has remarked that nothing happens in our country until somebody sells
something. Marketing is the kingpin that sets the economy revolving. The marketing
organisation, more scientifically organised, makes the economy strong and stable, the lesser the
stress on the marketing function, the weaker will be the economy.

GLOBAL MARKETING

Global marketing is marketing on a worldwide scale reconciling or taking commercial

advantage of global operational differences, similarities and opportunities in order to meet global
objectives".
One of the product categories in which global competition has been easy to track in U.S. is
automotive sales. The increasing intensity of competition in global markets is a challenge facing
companies at all stages of development in international markets. As markets open up, and
become more integrated, the pace of change accelerates, technology shrinks distances between
markets and reduces the scale advantages of large firms, new sources of competition emerge, and
competitive pressures mount at all levels of the organization. Also, the threat of competition from
companies in countries such as India, China, Malaysia, and Brazil is on the rise, as their own
domestic markets are opening up to foreign competition, stimulating greater awareness of
international market opportunities and of the need to be internationally competitive. Companies
which previously focused on protected domestic markets are entering into markets in other
countries, creating new sources of competition, often targeted to price-sensitive market
segments. Not only is competition intensifying for all firms regardless of their degree of global
market involvement, but the basis for competition is changing. Competition continues to be
market-based and ultimately relies on delivering superior value to consumers. However, success
in global markets depends on knowledge accumulation and deployment. [2] Today, more and more
marketing companies specialize in translating products from one country to another.

Global marketing is not a revolutionary shift, it is an evolutionary process. While the following
does not apply to all companies, it does apply to most companies that begin as domestic-only
companies. International marketing has intensified and is evident for approximately nearly all
aspects of consumers daily life. Local regions or national boundaries no longer restricted to the
competitive forces. To be successful in today's globalized economy, it is a must for the
companies to simultaneously be responsive to local as well as global market conditions and
varying aspects related to the international marketing process. Hence, international marketing
skills are an important ingredient for every company, whether or not it is currently involved in
exporting the activities for the endorsement of the brand or the company. The internationalized
marketplace has been transformed very quickly in recent years by shifts in trading techniques,
standards and practices. These changes have been reinforced and retained by new technologies
and evolving the economic relationships between the companies and the organizations which are
working for the trade across the globe. This assignment project work is just an attempt to get
integrate these developments and attempts in the field of the market journalism into the
burgeoning literature on international marketing process as well as on recent research findings on
the International marketing. The research emphasis within the subject has evolved alongside
changes in the stress given to key aspects of international trade market. The pre-occupation of
early researchers with exports and selling is being replaced by a more balanced view which gives
increasing weight to other aspects of international marketing such as licensing, joint ventures,
and overseas subsidiaries. In effect, the traditional ethnocentric conceptual view of international
marketing trade is being counterbalanced by a more accurate global view of markets. This
process of change is tracked in this paper and the growing importance of a strategic and
organizational approach to international marketing is emphasized in this article theory. Focused
attention is paid to the heterogeneous nature of international marketing process. The diversity of
the globalized situations is matched by the variety of enterprises which play a vital part in the
marketing exploration process. There is also explanation focuses on the matching of the available
company resources and marketing goals in successful international marketing trade. The concept
which unveils the paper brings out the importance of effective marketing procedures to success
in international markets and trade over the international markets.

E MARKETING

Email marketing is directly sending a commercial message, typically to a group of people,

using email. In its broadest sense, every email sent to a potential or current customer could be
considered email marketing. It usually involves using email to send ads, request business, or
solicit sales or donations, and is meant to build loyalty, trust, or brand awareness. Email
marketing can be done to either sold lists or a current customer database. Broadly, the term is
usually used to refer to sending email messages with the purpose of enhancing the relationship of
a merchant with its current or previous customers, to encourage customer loyalty and repeat
business, acquiring new customers or convincing current customers to purchase something
immediately, and adding advertisements to email messages sent by other companies to their
customers.

Email marketing has evolved rapidly alongside the technological growth that has occurred
consistently throughout the 21st century. Prior to this growth, email marketing was not as
effective because of a lack of reach, as emails were novelties to the majority of customers and
potential customers. In 1978, Gary Thuerk of Digital Equipment Corp [DEC] sent out the first
mass email [1] to approximately 400 potential clients via the Advanced Research Projects Agency
Network [ARPANET]. It resulted in $13 million worth of sales in DEC products, and highlighted
the potential of marketing through mass emails. As email marketing developed itself as an
effective means of direct communication, a problem arose in that users were blocking out large
amounts of content from emails by use of filters and blocking programs. It therefore became the
case that in order to effectively communicate a message through email, marketers had to develop
a way of pushing content through to the end user, without being cut out by automatic filters and
spam removing software. This resulted in the birth of triggered marketing emails, which are sent
to specific users based on their tracked online browsing patterns.

Historically, it has been difficult to measure the effectiveness of marketing campaigns because it
is not always possible to fathom what portion of a target market has been reached. Email
marketing carries the benefit of allowing marketers to immediately identify returns to
investment[citation needed]
and therefore measure and improve efficiency. Email marketing allows
marketers to see feedback from users in real time, and to monitor how effective their campaign is
in achieving market penetration and helps to reveals how wide or narrow a communication
channel is. At the same time however, it also means that the more personal nature of certain
advertising methods, such as television advertisements, cannot be captured.

DELAY MARKETING

MEANING

In commerce, time to market (TTM) is the length of time it takes from a product being
conceived until its being available for sale. TTM is important in industries where products are
outmoded quickly. A common assumption is that TTM matters most for first-of-a-kind products,
but actually the leader often has the luxury of time, while the clock is clearly running for the
followers.
There are no standards for measuring TTM, and measured values can vary greatly. First, there is
great variation in how different organizations define the start of the period. For example, in
the automotive industry the development period starts when the product concept is approved.
[citation needed]
Other organizations realize that little will happen until the project is staffed, which can
take a long time after approval if developers are tied up on existing projects. Therefore, they
consider the start point when the project is fully staffed. The initial part of a projectbefore
approval has been given or full staffing is allocatedhas been called the fuzzy front end, and
this stage can consume a great deal of time. Even though the fuzzy front end is difficult to
measure, it must be included in TTM measurements for effective TTM management.

CONCEPT OF MARKETING ETHICS

Marketing ethics is an area of applied ethics which deals with the moral principles behind the
operation and regulation of marketing. Some areas of marketing ethics (ethics
of advertising and promotion) overlap with media ethics.

Fundamental issues in the ethics of marketing

Frameworks of analysis for marketing Possible frameworks

Value-oriented framework, analyzing ethical problems on the basis of the values which they
infringe (e.g. honesty, autonomy, privacy, transparency). An example of such an approach is the
AMA Statement of Ethics.[1]

Stakeholder-oriented framework, analyzing ethical problems on the basis of whom they affect
(e.g. consumers, competitors, society as a whole).

Process-oriented framework, analyzing ethical problems in terms of the categories used by

marketing specialists (e.g. research, price, promotion, placement).
None of these frameworks allows, by itself, a convenient and complete categorization of the
great variety of issues in marketing ethics

Power-based analysis[edit]

Contrary to popular impressions, not all marketing is adversarial, and not all marketing is stacked
in favour of the marketer. In marketing, the relationship between producer/consumer or
buyer/seller can be adversarial or cooperative. For an example of cooperative marketing,
see relationship marketing. If the marketing situation is adversarial, another dimension of
difference emerges, describing the power balance between producer/consumer or buyer/seller.
Power may be concentrated with the producer (caveat emptor), but factors such as over-supply or
legislation can shift the power towards the consumer (caveat vendor). Identifying where the
power in the relationship lies and whether the power balance is relevant at all are important to
understanding the background to an ethical dilemma in marketing ethics.[2]

Is marketing inherently evil?

A popularist anti-marketing stance commonly discussed on the blogosphere [3] and popular
literature[4] is that any kind of marketing is inherently evil. The position is based on the argument
that marketing necessarily commits at least one of three wrongs:

Damaging personal autonomy. The victim of marketing in this case is the intended buyer whose
right to self-determination is infringed.

Causing harm to competitors. Excessively fierce competition and unethical marketing tactics are
especially associated with saturated markets.

Manipulating social values. The victim in this case is society as a whole, or the environment as
well. The argument is that marketing promotes consumerism and waste. See
also: affluenza, ethical consumerism, anti-consumerism.

CARRIER OPPORTUNITY IN MARKETING

A career in marketing can take you in several different directions. Marketing in comprised of
many facets and activities. You will find that there are many opportunities in marketing, but the
common denominator of those opportunities is the sense of ownership over the product and/or
service and the necessity to understand the customers needs and desires and then be able to
translate those needs in the communication of your marketing strategy.

Marketing communication can be done in several ways that is why a career in marketing opens
several doors as a profession.

In the marketing profession, your job will be to take a "generic" product and/or service and
associate that product or service with a brand name. Marketing can be defined as being the
intermediary function between product development and sales. Think of it as the storehouse for
such things as advertising, public relations, media planning, sales strategy, and more. It's the
marketing professionals job create, manage, and enhance brands. This ensures that consumers
look beyond the price and function of a product or service when they are weighing consumption
options. A key part of a career in marketing is to understand the needs, preferences, and
constraints that define the target group of consumers or the market niche corresponding to the
brand. This is done by market research.

The great thing about marketing is it is a function that is needed in every company in every
industry, so career potential is unlimited. There are career tracks in marketing that you can
follow. You can find many opportunities in marketing in the following categories:

Market Research

Brand Management

Advertising

Promotions

Public Relations
Let's take a closer look into each of these categories and find the one that best fits your
personality.

Market Research involves researching the intended target. That target can be companies or
individuals. In order for a company to capture a market, it must first be able to understand that
market. Research involves the first process of understanding the consumer, what their needs are,
what their purchasing habits are, and how they view themselves in relation to the rest of the
world.

Market research is conducted by using surveys, focus groups, and reviewing studies.

Doing this enables researchers to collect data on a specific brand's target. Market research can be
done in-house, or a company may hire a specialized firm to conduct the research.

Is Market Research the Career Track for You?

Do you think that you would enjoy a career in Market Research? The ideal candidate for a
market research position is a person who possesses both qualitative and quantitative analytical
ability, because the job depends on your ability to gather data from human subjects, crunch
numbers, and interpret the results accurately.

Positions available in Market Research:

Market Research Director

Market Research Manager

Market Research Supervisor

Market Analyst

Brand management is the career track you hear about most often. It is the key function in the
consumer products industry. Brand managers are often likened to small business owners because
they assume responsibility for a brand or brand family. They are always focused on the big
picture. It is their job to instill the brand's essence, map out their competitors in their brand's
category, identify marketing opportunities, and be able to effectively communicate the unique
benefits of that product or service.

Brand managers are also responsible for guiding the market research team by setting the agenda
and criteria and also selecting the stimuli, such as product-benefit statement, pictures, product
samples, and video clips. Once the research is complete it is the brand manager's job to analyze
the data that's been collected then develop a marketing strategy.

This marketing strategy may call for a new ad campaign, development of new products, or
drawing out a new vision for the brand. It is also then the brand manager's job to ensure that
other functions such as promotions, market research, research and development, and
manufacturing are orchestrated to implement the strategy that they have developed.

Is the Brand Management Career Track for You?

Careers in product and brand management tend to attract high potential, well-motivated
individuals who can accept broad responsibilities easily and with little supervision, communicate
well with other people, are willing to do some traveling, and thrive on constant change.

Starting salaries are good, with career and compensation advancement based on achievement.