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Marketing
“Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with other”
Physical distribution:
“Physical distribution involves planning, implementing and controlling the physical flow of materials and final goods from the point of origin of use to meet consumer needs at a profit.”
Advertising
Advertising is any paid form of non-personal presentation & promotion of ideas, goods, or services by an identified sponsor.
Marketing Mix
‘Marketing mix is the mixture of controllable marketing variable that the firm uses to pursue the sought level of sales in the target market’
Price
“Price is the amount of money charged for a product or service or the sum of the values that the consumers exchange for the benefits of having or using the product or service”
“Price is the only element in the marketing mix that produces revenue, the other elements produce cost.”
Branding
A”name, term, sign symbol (or a combination of these) that identifies the maker or seller of the product”
Decision Making
“A decision may be defined as a conscious choice among alternative courses of action.”
Market Segment
“ Market segmentation is sub-dividing a market into distinct and homogeneous subgroups of customers, where any group can conceivably be selected as a target market to be met with distinct marketing mix.”
Marketing Strategy
“Marketing strategy is the basic approach that the business unit will use to attain its goals and which comprises of elaborate decisions (strategies) on largest markets, market positioning and mix and marketing expenditure allocation. Moreover, the marketer should take care of the other two strategic aspects, viz., expected environment and competitive conditions while determining the marketing strategy”
New Product
New product mean original products, improved products, modified products and new brands which are developed by the firm through its own research and development efforts and includes those products which the consumers see as new. A new product is thus perceived differently by different people. It is a need satisfying concept with benefits for buyers bundle of need satisfying features; for marketers, a way to add value; for intermediaries, an opportunity to design; for R&D and to assemble and process for the production department.
Test Market
“Test marketing is the stage at which the product and marketing programs are introduced into more realistic market settings”.
Labelling
“The activities of designing and producing the container or wrapper for a product.”
MIS
“Marketing information system consist of people, equipment and procedures together,sort,analyse,evaluate and distribute the needed timely and accurate information and marketing decision makers. “
Personal Selling
“Personal selling is an ancient art. Effective sales persons have more than instinct; they are trained in a method of analysis and customer management. Selling today is a profession that involves mastering and applying a whole set of principles”.
Promotion
“Promotion includes all the activities the company undertakes to communicate and promote its products to the target market.”
About the Above Author
Biography: Philip Kotler
Marketing Management
Achievements
- On November 7, 2013, Kohler obtained the Badge of Honor of Officer of the Order of Academic Palms mounted in France with inside the nineteenth Century.
- On November 19, 2013, Kohler became inducted into the Management Hall of Fame, in conjunction with 10 different control gurus.
- On March 1, 2014, Kohler is range sixteen with inside the listing of the 30 World’s Top Management Professionals and the simplest marketer.
- On May 28, 2014, Kohler is inducted with inside the Marketing Hall of Fame in New York City.
- On April 23, 2016, Kohler obtained the Lifetime Achievement Award from the Leaders International on the sixth Global Leadership Awards.
Marketing Hero’s Note
I feel satisfied for attending this public lecture and meeting up the marketing guru and icon as well as my genuine marketing hero.
FAQ’s
What is the Biography of Philip Kotler?
Nice post. It’s very well thought out and quite informative. Keep it up.
Thanks