BASIS OF DIFFERENCE 51 1.PERISHABLE www.cuidol.in Unit 1( BTT 112) 5A1ll right are reserved with CU-IDOL
52 52 Click to edit Master title style www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
BASIS OF DIFFERENCE 3. VARIABILITY 53 •Products varies Heterogeneous or different •Products of same Homogeneous characters www.cuidol.in Unit 1( BTT 112) 5A3ll right are reserved with CU-IDOL
BASIS OF DIFFERENCE 54 4. TANGABILITY Tangible Intangible www.cuidol.in Unit 1( BTT 112) 5A4ll right are reserved with CU-IDOL
BASIS OF DIFFERENCE 55 5. TRUST www.cuidol.in Unit 1( BTT 112) 5A5ll right are reserved with CU-IDOL
BASIS OF DIFFERENCE 56 6.TIME www.cuidol.in Unit 1( BTT 112) 5A6ll right are reserved with CU-IDOL
BASIS OF DIFFERENCE 57 7. DELIVERY www.cuidol.in Unit 1( BTT 112) 5A7ll right are reserved with CU-IDOL
BASIS OF DIFFERENCE 58 8. WANT & NEED www.cuidol.in Unit 1( BTT 112) 5A8ll right are reserved with CU-IDOL
BASIS OF DIFFERENCE 59 9. Relationship Management www.cuidol.in Unit 1( BTT 112) 5A9ll right are reserved with CU-IDOL
60 60 Click to edit Master title style www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
61 61 BASIS OF DIFFERENCE PRODUCT 11. Elements SERVICE www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
BASIS OF DIFFERENCE 62 12. Consumer PRODUCT SERVICE • Customer and Consumer is • Customer and consumer must different. be same. www.cuidol.in Unit 1( BTT 112) 6A2ll right are reserved with CU-IDOL
63 DISTINCTION BETWEEN PRODUCT & SERVICE 63 PRODUCT SERVICE 1. Non- Perishable 1. Perishable 2. Separable 2. Inseparability 3. Non- Variability 3. Variability 4. Tangibility 4. Intangibility 5. Less emphasis on trust 5. More emphasis on trust 6. Less Time on producing same 6. More Time for different products. services www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
64 DISTINCTION BETWEEN PRODUCT & SERVICE 64 PRODUCT SERVICE 7. Deliverability same 7. Deliverability differs 8. Wants & need can be achieved 8. Wants & need may not Instant immediate 9. Less reliability on relations 9. Less reliability on 10.Returnable relations 11. Elements 4 P’s 12. Customer vs. consumer 10. Non-returnable different 11. Elements of 7 P’s www.cuidol.in 12. Customer vs. consumer same Unit 1( BTT 112) All right are reserved with CU-IDOL
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Multiple Choice Questions 66 Which one is wrong among the following? 1.Customer is the center of all Marketing activities. 2. Marketing focuses on the needs and wants of customers. 3. Marketing is all about selling goods and services 4. It is concerned about satisfying customers through supply of goods and services www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
Multiple Choice Questions 67 Phillip Kotler( The Millennium Edition –2000) “ • Marketing is a ……………..by which individuals and groups obtain what they want through creating, offering and freely exchanging ……………………..of value with others” www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
Multiple Choice Questions 68 Product Concept says: 1. Consumers will prefer products that are widely available and inexpensive 2. Consumers will prefer better products 3. Consumers will prefer lower prices 4. Having the goods produced in a large scale factory with assembly lines. www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
Multiple Choice Questions 69 Key Components of Marketing concept are: 1.Product concept, Production concept, Selling Concept and Societal Concept 2. Product, Price, Place and Promotion 3. Customer Orientation, Integrated effort and Goal Achievement 4. Suppliers, Customers, Competitors and Intermediaries www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
Summary 70 • Core Marketing concepts consist of needs, wants and demands. • Various approaches to marketing are Production, Product, Selling, Marketing and Societal marketing. • Marketing acts as a basis of decision making. • Marketing is helpful in the development of economy. • Marketing is a source of income and revenue. www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
Frequently Asked Questions 71 Q1. What do you mean by USP? Ans. Unique Value Proposition. Q2. What is E- marketing? Ans. E-Marketing (Electronic Marketing) are also known as Internet Marketing, Web Marketing, Digital Marketing, or Online Marketing. E-marketing is the process of marketing a product or service using the Internet. Q3. What is a Niche market? Ans. A niche market is a subset of a larger market with its own particular needs or preferences, which may be different from the larger market. Q4. What is Marketing Myopia? Ans. Marketing myopia' is a term coined by Theodore Levitt. A business suffers from marketing myopia when a company views marketing strictly from the standpoint of selling a specific product rather than from the standpoint of fulfilling customer needs. www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
REFERENCES 72 1. Kotler,P., Keller, K.L. Koshy, A. and Jha, M. (2009). Marketing Management: A South Asian Perspective. New Delhi: Pearson Education. 2. Etzel, M., Walker, B., Stanton, W. and Pandit, A.(2007). Marketing Management. New Delhi: Tata McGrawHill. 3. Ramaswamy, V.S., Namakumari, S. (2009). Marketing Management: Global Perspective Indian Context. New Delhi: Macmillan Publishers India Ltd. 4. Saxena, Rajan. (2010). Marketing Management. New Delhi: Tata McGraw Hill Education Pvt. Ltd. www.cuidol.in Unit 1( BTT 112) 7A2ll right are reserved with CU-IDOL
73 THANK YOU For queries Email: [email protected] www.cuidol.in Unit 1( BTT 112) All right are reserved with CU-IDOL
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