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Showing posts from August, 2019

Product Mix

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Question - What is product mix? Explain product mix decisions.

Marketing Notes - The Marketing Mix

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Question - Define the term marketing mix. Explain structure of marketing mix and its elements. Answer The Marketing Mix
Summary  Introduction to Marketing MixDefinition of Marketing MixMeaning of Marketing Mix4P's - Producer-oriented Model4C's - Consumer-oriented Model
Introduction to Marketing Mix Marketing is the process of identifying, anticipating, and satisfying customers' requirements with the purpose to make profits. In this process marketing managers and marketing representatives have to take various marketing decisions to make the operations profitable. They have to decide what combination of marketing policies and procedures be adopted to bring about desired behaviour of trade and consumers at minimum cost. They have to decide how can advertising, personal selling, pricing, packaging, channels, warehousing, and the other elements of marketing be manipulated and mixed to make marketing operations profitable. More specifically, they have to decide a marketing mix - a dec…

Marketing Notes - Product Life Cycle

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Question - What do you mean by product life cycle? Explain the major stages of product life cycle.

MBA Notes - Media Characteristics

Question - What is Media? What are Media Characteristics?

MBA Notes - Nature and Scope of Marketing

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Question - Define marketing and explain nature and scope of marketing.

MBA Notes - Nature and Scope of Marketing Management

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Question- What do you mean by marketing management? Explain nature and scope of marketing management. Answer


Definition of Marketing According to American Marketing Association, "Marketing is an organisational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organisation and its stakeholders."
Definition of Management According to Harold Koontz, "Management is the art of getting things done through and with people in formally organised groups."

Management consists of the interlocking functions of creating corporate policy and organising, planning, controlling, directing an organisation's resources in order to achieve the objectives of the policy.
Definition of Marketing Management According to Philip Kotler, "Marketing Management is the analysis, planning, implementation and control of programmes designed to bring about desired exchanges with target …

Marketing Research Process

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Introduction to Marketing Research Research always starts with a question or a problem. The purpose of research is to find answer to the question or solution to the problem through the application of scientific method. Research is a systematic and intensive study directed towards a more complete knowledge of the subject studied. Research in common context refers to a search for knowledge. It can also be defined as a scientific and systematic search for gaining information and knowledge on a specific topic or phenomena.
The aim of marketing management is to satisfy the needs of the consumer. Marketing research helps in achieving this. Marketing research is a systematic and logical way of assessing ways of satisfying customer needs. Marketing Research starts by stating the problem or the issue to be investigated; indicate what kind of information is required to resolve the problem; identify where and how to get it; specify the methodology for analyzing the research findings; sum up the …

Marketing Research

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Question - What is Marketing Research? Describe the process of Marketing Research.Answer

Introduction Today, the competition is getting more and more intense day by day, consumption pattern and behavior of consumer is changing very fast. In such environment, organizations face uncertainty and threat in understanding consumer, competitor, and market.
Now the question is, how to understand the consumer, competitor, and market? Solution to this is "Marketing Research". Marketing Research help to understand - the consumer needs and how are they changing? How to meet these changing needs? What do the consumers think about existing products or services? What more are they looking at? What are the competitors doing to retain customers in this environment? Are their strategies exceeding or influencing yours? What should you do to be more competitive? How are macro and micro environmental factors influencing your organization? How will you react to this environment?
In this post we are…

Subsystems of MIS

Question: What is MIS? Describe the Subsystems of MIS.Answer MIS - Management Information System Management information system (MIS) refers to the processing of information through computers and other intelligent devices to manage and support managerial decisions within an organization.
Definition of MIS MIS - Management Information System can be defined as "a system providing management with accurate and timely information necessary to facilitate the decision-making process and enable the organizations planning, control, and operational functions to be carried out effectively".

Subsystems of MIS Systems may consists of numerous sub-systems, each of which has elements, interactions, and objectives. Subsystems perform specialized tasks related to the overall objectives of the total system. A system exist on more than one level and can be composed of subsystems or element parts.
Following are the subsystems of Management Information System: Transaction Processing System Manageme…

MIS - Management Information System

Question: What is MIS? Describe objectives and characteristics of MIS. What are the Sub-systems of MIS?Answer
Introduction A System is a combination of various elements or components that are organized for a common purpose. The elements or components are interconnected or interdependent to form a system as a whole. For example: Computer System a combination of hardware, software, user, and data.
Information System is an organized system consisting of network of hardware, software, infrastructure, and trained personnel that store, compute, distribute, and communicate the information required  by all or some part of an organization.
MIS - Management Information System Management information system (MIS) refers to the processing of information through computers and other intelligent devices to manage and support managerial decisions within an organization.

Definitions of MIS MIS - Management Information System can be defined as "a system providing management with accurate and timely inf…

MBA Notes - Definition and Meaning of Marketing

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Question - What is marketing? Define and explain marketing on the basis of different approaches.
Answer Introduction In today's world of marketing, everywhere you go you are being marketed to in one form or another. Marketing is with you each second of your walking life. From morning to night you are exposed to thousands of marketing messages everyday. Marketing is something that affects you even though you may not necessarily be conscious of it.
After reading this you'll understand - what exactly the marketing is, different definitions of marketing, and what are the different approaches of marketing.
Definition and Meaning of Marketing
According to American Marketing Association (1948) - "Marketing is the performance of business activities directed toward, and incident to, the flow of goods and services from producer to consumer or user."

AMA (1960) - "Marketing is the performance of business activities that direct the flow of goods and services from producer to co…

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