introduction to marketing

•          Purpose of Business                    is                                  

  TO CREATE A CUSTOMER ………!

•          CUSTOMER SATISFACTION     is 

                                   PROFIT ……….!!

                PROFIT                                        is                                       

  INVESTMENT FOR FUTURE  

• ------- Peter  F. Drucker

DEFINITIONS ON MARKETING :

• Deals with identifying and meeting human and social needs.
• Meeting needs profitably.
• Deliver a higher standard of living.
• Social process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products & services of value with others.
• The art of selling products.
• “The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual & organizational goals.

NEEDS , WANTS AND  DEMAND :

•          Needs . . . .

        Basic Human Requirements.

        State of felt deprivation.

                    Food, Water, Clothing, Shelter, Recreation, Education                                               

•          Wants . . . .

                    Needs diverted to specific objects.

                    Forms of needs shaped by culture, personality . . .

                Burger & Cola, Mineral Water

•          Demands . . . .

                    Wants for specific products backed by an ability to pay                                           

                Mercedes Benz, BMW  Self Production

                      4  WAYS OF SATISFACTION :

1. Self Production

•          Power . . . Generation

•          Self Education . . . Eklavya

•          Reliance Jamnagar Plant.

2. Co-ercion

•          Power Cut (M.P. or Karnataka)

•          Spurious Goods

•          Tel / Electricity Bills

•          Reliance Wireless Roaming Service

3. Supplication

•          State Economy - Budgeting

•          Brazil Economy

•          Management Quota in Seats

•          Gas Cylinder, Subsidy

4. Exchange

•          All Transactions incl.

•          Credit Card, ATM Card (!!)

 

Introspect  to  analyse  fluctuations  of  OIL  prices

in the international markets based on above 4 ways

5 CONDITIONS :

1)      There are at least two parties.

2)      Each party has something that might be of value to the other party.

3)      Each party is capable of communication & delivery.

4)      Each party is to accept or reject the exchange offer.

Each party believes it is appropriate and desirable to deal with the other party