What do you understand by the term ‘advertising’? Advertising is the popular tool of promotion as it communicates in a persuasive manner about organization or products or services non-personally through paid media. The advertisement should provide new information or support the information the audience already has in order to capture their attention. It should be able to persuade them and influence their attitude and purchase behaviour. Personal selling or salesmanship is the process of contacting the prospective buyers personally and persuading them to buy the products. In other words, it is an art of convincing customers to buy the given products or services.

It creates place utility in breaking bulk to the good point of the consumption process. Retail management saves time and ensures the customers easily locate their desired merchandise and return home satisfied. An effective management avoids unnecessary chaos at the store. Effective Management controls shopliftings to a large extent.

• Good design of the product gives competitive advantage to the product.
• Hence, it is important to store the goods at a safe place during this time lag.
• Even there are chances of modifications depending upon the mood of the sellers.
• Find out Meaning of market, significance of marketing and overall marketing functions.

So after understanding this they provide easy and quick making foods like Maggi. Sometimes the marketer creates the need in the market. Effective marketing is needed for any business to survive and succeed. The different functions of marketing helps in the study of the consumer’s needs and also facilitates to satisfy it. Those companies who believe in this philosophy are of the opinion that if the quality of goods or services is of good standard, the customers can be easily attracted. The basis of this thinking is that the customers get attracted towards the products of good quality.

The smartness and intelligence of marketing strategy is very simple and yet powerful. Once you understand and mastered this skills then any person in world can make authoritative and long lasting decision to set up his or her “Business or Company“. Lots of people are weak in life because their marketing strategy is weak. The important to harness this ability and to have constant never ending improvement in this area.

The price plays an important role in deciding the success or failure of a product especially in a highly competitive market. While fixing the price of a product a businessman has to consider various factors like cost, desired profit, price of the competitor’s product, demand for the product, market conditions etc. If the price is too high, it may lose customers and if the prices are too low it might suffer losses. So, it is important to decide the right price through extensive market research. Standardization refers to the setting of standards related to process, size, quality, design, weight, colour etc. of the product.

Answer in brief. Explain any four functions of marketing. – Organisation of Commerce and Management

Business has to take every possible step to provide customer support service on time as it helps to gain customer loyalty. The businessman can provide services like pre-sale service, consumer helpline, after sales service, technical assistance, product demo etc. to the customers. These services help in attaining, retaining and maintaining the growth of the customers. Retailers act as a link between the buyers and wholesalers / manufacturers.

This function is performed by retailers, wholesalers and manufacturers. Distribution refers to the set of activities undertaken for the efficient movement of finished goods from the place of production to the consumer. It includes transportation, warehousing, material handling, inventory control, order processing, market forecasting, packaging, plant and warehouse location and customer service. Distribution accounts for a major part of marketing budget of a business.

It comes from extensive planning and having an understanding of the target demographic. Retail management teaches about inventory management and supply management, where it conveys various techniques to optimize the entire retailing operations. It is important to understand the needs of any staff employed as these individuals will be at the forefront of the business and represent your brand on a daily basis. Marketing is the platform where there is opportunities for both sellers and buyers.

It provides a wide variety of choices when it comes to preference for customer satisfaction. Retail management always acts as an agent between consumers and sellers by anticipating the requirements of the buyer at reasonable prices. They make sure to convince consumers to buy products as per their desire. Marketing is basically to understand the needs of the customer and according to their need, they provide good or services to the customer. For example, the Marketer understands the consumer psycho that they are in hurry and even that they don’t have time to eat.

Price is the exchange value of a product or service expressed in monetary terms. It is the money, which the buyer pays to the seller for a product or service. Price is the amount for which a product, a service or an idea is exchanged regardless of its worth to the buyer.

Is there any difference between market and marketing strategy?

The retailer must keep a record of all the products coming into the store. Retailers create demand for products by communicating with their customers. which function helps in place utility This demand creation is quite helpful for manufacturers and wholesalers. Retailers buy varieties of goods from various manufacturers or wholesalers.

In thedistribution channel, retailers are in direct contact with customers. Retailers supply market information to manufacturers either directly or through wholesalers. Market is a place where buyer and seller exchange their goods and services. It https://1investing.in/ means the sum total of the situation in which the resources, activities and attitudes of buyers and sellers affect the demand for products in a given area. The pricing of the product is the most important and challenging function of marketing.

In the following chapters we will be discussing various aspects of the agricultural marketing. In the present chapter, we will understand the concept and meaning of agricultural marketing, its scope and its importance. It helps to make the exchange of goods between buyers and sellers easy. Anything that helps complete the sale- delivery, installation, warranties credit is considered part of possession utility. Stocking of goods in retail management is done by buying various goods units from wholesalers and manufacturers.

A business has to develop a product that meets the needs of the consumer. Product design includes decisions related to quality, standard, shape, design, packaging, colour etc. of the product. Consumers always prefer better and attractively designed products.

Meaning of marketing:

The importance of agricultural marketing in economic development has been indicated in the paragraphs that follow. This definition does not include the input side of agriculture. Transportation means physical movement of goods from the place of production to the place of consumption. It includes transportation of finished goods as well as raw materials.

The sellers should not ignore the choices of the rural people since their population form a sizeable chunk. In this article, you will know what is marketing and Marketing Strategy. Find out Meaning of market, significance of marketing and overall marketing functions. Read about economy strategy and marketing strategy from this post. Production is the half the work done for any producer, either a farmer or an agribusiness firm. The other half consists of marketing the product so that it reaches the consumer.

It helps in ensuring uniformity in the quality of the product and achieving customers’ loyalty towards the product. Grading is the process of classification of the product according to similar characteristics and/or quality. It is done on the basis of the features of the product like size, shape, quality etc. Generally, grading is done in case of agricultural products like wheat, rice, potatoes etc. And design plays an important role in the selling of the product.

They can be supplied as and when needed by the customers. Package and label create the first impression about the product on consumers. Attractive packaging and labeling can make the product more successful.

Thus fig 4 represents the main elements in a modern marketing system. If one party is more actively seeking an exchange than the other party, we call the first party a marketer and the second party a prospect. A marketer is someone seeking a resource from someone else and willing to offer something of value in exchange. The marketer is seeking a response from the other party, either to sell something or to buy something.

Marketing and Marketing functions:

What is the difference between Marketing and Sales Sales focuses on selling existing products to customers and driver volumes through promotional means. Marketing focuses on products that meet customer needs through marketing programs that enhances customer satisfaction. Marketing Mix is the tool for implementation of the marketing strategy. It includes four elements namely product, price, physical distribution, promotion. Product, price, physical distribution, promotion are the four elements of marketing mix. They are also called as four P’s of marketing.

3. Marketing and Marketers

Branding means impression make in the mind of customer. It may be through logo, slogan, packaging of any thing. Brand is something which makes to stand different from the league. Brand can be anything – it may be product, services, people. 7)Lastly but not the least is you must burn the ships and leave no way for return if you want to be successful player in marketing strategy in order to last long. 6)There is smart way of predicting marketing strategy and if you can then implement it or else a part which you cannot predict do not implement it.