Marketing is understood as selling of products or services. It essentially is related to customer satisfaction.

The identification of consumer’s requirements (need, wants, demand)from the basis of marketing

Basis of Classification Geographical Area Product Nature of Transaction Volume of Transaction

Selling Marketing

Selling is Product focused Marketing is customer focused

Selling is oriented to the needs of the seller (the firms)

Marketing is oriented to the needs of the buyer (the customers)

Selling encashes profitable opportunity

Making converts customer needs to such opportunity

Selling aims at earning profits by maximising sales volume

Marketing aims at earning profits by maximising customer satisfaction

It is the process of planning and executing the conception, pricing, promotion and distribution of goods and services

It encompasses the entire range of activities.

Analysis Planning Implementation Control

Characteristics of Physical Products Tangibles Homogeneous Core value produce in factory Can be stored Transfer of ownership possible

Characteristics of Physical Products

Intangibility Inseparability Heterogeneity Perishability

Marketing mix is the set of marketing tools that a firm uses to purchase its marketing objectives in the target market.

These tools called the 4 P’s Product Price Place (i.e. distriution) PromotionBoos and Bitner suggested a “7 P” of

Marketing mix model.In addition there are three mote sets, viz. People Physical evidence Process

4 Ps Product Price Place Promotion

4 Cs Customer needs and

wants Cost to the customer Convenience communication

Physiological needs Safety needs Social needs Esteem needs Self-actualisation

A Product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.

Core features Associated features Brand name and logo Package and lebel

Core benefit Basic Product Expected Product Augmented Product Potential Product

IntroductionGrowthMaturityDecline

Based on Product Mix Based on Product Life Cycle

Some major strategies are : Product Modification Product Elimination Diversification

Branding Packaging Labelling

Line Extention Brand extantion Multi-brands New Brands Co-branding

Primary package Secondary package Shipping package

Direct Channel Indirect Channel

Zero Level One Level Two Level Three Level