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Handwritten Notes, Paper 1, , Paper 2, (Management), , Soft Copy, , ₹ 100, , ₹ 300, , Hard Copy, , ₹ 150, , ₹ 450, , Call or Whatsapp for Notes : 7627096162, Note : Paper 1 includes 7 units except Comprehensions, Numerical Reasoning, and Data Interpretation because these units are practice based and theoretical, part of these units is covered in notes., For hard copies postal/courier charges are separate.
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Recent Trends in Marketing, 1. More Emphasis on Quality, Value, and Customer Satisfaction : Today’s customers place a, greater weight to direct motivations (convenience, status, style, features, services and qualities) to, buy product. Today’s marketers give more emphasis on the notion, “offer more for less.”, 2. More Emphasis on Relationship Building and Customer Retention : Today’s marketers are, focusing on lifelong customers. They are shifting from transaction thinking to relationship building., Large companies create, maintain and update large customer database containing demographic, lifestyle, past experience, buying habits, degree of responsiveness to different stimuli, etc., and design, their offerings to create, please, or delight customers who remain loyal to them. Similarly more, emphasis is given to retain them throughout life. Marketers strongly believe: “Customer retention is, easier than customer creation.”, 3. More Emphasis on Managing Business Processes and Integrated Business Functions :, Today’s companies are shifting their thinking from managing a set of semi independent departments,, each with its own logic, to managing a set of fundamental business processes, each of which impact, customer service and satisfaction. Companies are assigning cross-disciplinary personnel to manage, each process.
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Recent Trends in Marketing, 4. More Emphasis on Global Thinking and Local Market Planning : As stated earlier, today’s, customers are global, or cosmopolitan. They exhibit international characteristics. Decisions are taken, by local representatives, who are much aware of the global economic, political, legal, and social, realities. Companies must think globally, but act locally. Today’s marketers believe: “Act locally,, but think globally.”, 5. More Emphasis on Strategic Alliances and Networks : A company cannot satisfy customers, without help of others. It lacks adequate resources and requirements to succeed. Company needs to, involve in partnering with other organizations, local as well as global partners who supply different, requirements for success., 6. More Emphasis on Direct and Online Marketing:, Information technology and communication revolution promise to change the nature of buying and, selling. Companies follow direct channel in term hiring salesmen, setting own distribution network,, designing network marketing, applying online marketing, and contracting with giant, shopping/retailing malls.
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Recent Trends in Marketing, 7. More Emphasis on Services Marketing : As per general survey, about 70% people are, either, directly or indirectly, involved in service marketing. Because services are intangible and perishable,, variable and inseparable, they pose additional challenges compared to tangible good marketing., 8. More Emphasis on High-tech Industries : Due to rapid economic growth, high-tech firms, emerged, which differ from traditional firms. High-tech firms must master the art of marketing their, venture to the financial community and convincing enough customers to adopt their new products., 9. More Emphasis on Ethical Marketing Behavior : Marketers must practice their craft with high, standards. Even, governments have imposed a number of restrictions to refrain them from, malpractices. Marketers are trying to sell their products by obeying and observing moral standards or, business ethics.
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Recent Trends in Marketing, 10. Other issues:, i. Craze for international standards and emphasis on quality, value and customer satisfaction., Application of TQM (even, Six Sigma) in every aspect of marketing management., ii. Changed attitude toward competition. They compete not for maximum gains but for maximum, offers to customers., iii. Relationship marketing at both levels at internal functions of organization and at outside with, service providers, to satisfy customers., iv. Concept of global and complex customers., v. Marketing department is placed in the center of management. It enjoys unique and dominant, status in organization., vi. Use of latest technology for survey and research., vii. More emphasis on after-sales services., viii. Entertaining value in advertising, etc.
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Tasks in Marketing, Developing Marketing Strategies and Plans : The first task is to identify its potential long-run, opportunities, given its market experience and core competencies. Whichever direction it, chooses, it must develop concrete marketing plans that specify the marketing strategy and tactics, going forward., Capturing Marketing Insights : Marketers needs a reliable marketing information system to, closely monitor its marketing environment so it can continually assess market potential and, forecast demand. Its microenvironment consists of all the players who affect its ability to, produce and sale—suppliers, marketing intermediaries, customers, and competitors. Its macro, environment includes demographic, economic, physical, technological, political-legal, and, social-cultural forces that affect sales and profits., Connecting with Customers : Marketers must consider how to best create value for its chosen, target markets and develop strong, profitable, long-term relationships with customers.
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Tasks in Marketing, Building Strong Brands : Marketers must understand the strengths and weaknesses of their, brand as customers see it. Marketers decides to focus on the consumer market and develop a, positioning strategy., Shaping the Market Offerings : At the heart of the marketing program is the product—the, firm’s tangible offering to the market, which includes the product quality, design, features, and, packaging. To gain a competitive advantage, marketers may provide leasing, delivery, repair, and, training as part of its product offering., Delivering Value : Marketers must also determine how to properly deliver to the target market, the value embodied in its products and services. Channel activities include those the company, undertakes to make the product accessible and available to target customers. Marketers must, identify, recruit, and link various marketing facilitators to supply its products and services, efficiently to the target market. It must understand the various types of retailers, wholesalers, and, physical-distribution firms and how they make their decisions.
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Tasks in Marketing, Communicating Value : Marketers must also adequately communicate to the target market the, value embodied by its products and services. It will need an integrated marketing communication, program that maximizes the individual and collective contribution of all communication, activities. It also needs to plan more personal communications, in the form of direct and, interactive marketing, as well as hire, train, and motivate salespeople., Creating Successful Long-Term Growth : Based on its product positioning, Atlas must initiate, new-product development, testing, and launching as part of its long-term view. The strategy, should take into account changing global opportunities and challenges.
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