•
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 :
- Self Production
•
Power
. . . Generation
•
Self
Education . . . Eklavya
•
Reliance
Jamnagar Plant.
- Co-ercion
•
Power
Cut (M.P. or Karnataka)
•
Spurious
Goods
•
Tel
/ Electricity Bills
•
Reliance
Wireless Roaming Service
- Supplication
•
State
Economy - Budgeting
•
Brazil
Economy
•
Management
Quota in Seats
•
Gas
Cylinder, Subsidy
- 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