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6. Marketing is a System:
Marketing is a System consisting of several interdependent and interacting sub-systems.
It obtains the inputs from the environment (Supra system), transforms these inputs and
supplies the output (customer satisfaction, profits etc)
7. Exchange process is the Essence of Marketing
Exchange implies transactions between buyers and seller. The seller hands over a product
or service to the buyer who in turns gives money. There is exchange of information
between buyers and sellers.
8. Marketing is Goal-oriented:
The ultimate aim of marketing is to generate profits through the satisfaction of human
wants.
The following aims are sought to be achieved by studying marketing:
1. To provide guiding policies regarding marketing procedures and their
implementation.
2.
To study marketing problems according to circumstances and to suggest
solutions.
3. To analyse the shortcomings in the exiting pattern of marketing.
4. To enable managers to assess and decide a particular course of action.
5. To develop an intelligent appreciation of modern marketing practices.
9. Marketing is a Process:
It is a dynamic process because it keeps on adjusting to the changes in the environment of
business. Marketing is also a social process in the sense that it is concerned with human
needs. Marketing is a managerial process as it involves the functions of planning and
control
SCOPE OF MARKETING
The scope of marketing is very wide. It may be analyzed in the term of marketing performance
through various functions. These functions are to be performed on the basis of various utilities.
A)
Functions
of
Exchange
1. Buying Function
2. Assembling Function
3. Selling Function
MARKETIN
G
FUNCTION
S
B) Functions
of Physical
Distribution
C) Functions
of
Facilities
1.
2.
3.
4.
Transportation
Inventory Management
Warehousing
Material Handling
1.
2.
3.
4.
Financing
Risk Taking
Standardization
After Sales Service
A) Functions of exchange:
Buying Function: A manufacturer is required to buy raw materials for production
purposes. Similarly, a wholesaler has to buy goods from manufacturer for the purposes of
sales to retailers. Retailer has to sell the goods to consumers. Thus functions of buying
have to be performed at various levels.
Assembly Function: Assembling is different and separate from buying. Buying involves
transfer of ownership of the goods from seller to the buyer; whereas in assembling, goods
are purchased from various sources and assembled at one place to suit the requirement of
the buyer.
Selling Function: Selling involves transfer of ownership from seller to the buyer. Selling
function is vital to the success of any firm. Its importance has been continuously
increasing in all organizations due to the emergence of severe competition. Producing
goods is easy but it is very difficult to sell them.
B) Functions of Physical Distribution:
Transportation: it is the function of transformation to carry commodities from where utility is
relatively low to places where it is higher.
It includes decision to be taken on
Modes of transport
Claims etc
Service
Selection
Freight
consolidation
Processing,
Vehicle scheduling
VECHILE SCHEDULING
Vehicle Scheduling is part of the component Transportation Planning. It enables the
transportation planner to optimally use available capacities of trucks, trains, ships, and airplanes
with the goals of more efficiently planning loading capacities and lowering costs, since most
customers nowadays depend completely on external transportation companies for optimum
transportation (which means deliveries that are on time and cost saving).
PROCESSING
The aim of transportation processing is to complete the formalities involved in getting a
shipment ready for dispatching to the customer. Tasks in transportation processing include
weighing the shipments, loading, and goods issue posting as well as recording information on the
means of transport such the drivers details, the weight of the truck, and the time it arrive
premises.
Inventory Management :
It includes
Warehousing:
Warehousing help in having a central place for keeping goods from where the distribution
could be made easily and according to needs. Ultimately, it tends to adjust the supply to
demand so as to equalize them in the interest of the manufacturers, middlemen and
consumers.
It includes
Space determination
Stock layout and design
Stock placements
Material Handling:
It includes
Equipment Selection
Equipment replacement
C) Functions of Facilities:
1. Financing
Marketing Information:
Modern marketing requires a lot of information accurately, adequately and promptly. This
information becomes the basis of many decision in marketing. Marketing information
makes a seller know when to sell, at what price to sell, who are the competitors etc.
marketing information and its proper analysis has led to marketing research.