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EDP(Lecture 13)

                                MARWARI COLLEGE,RANCHI                                                           (UNDER RANCHI UNIVERSITY RANCHI) 

NAME : RAJU MANJHI,PRAKASH KUMAR
SUB: EDP
 SEM : IT /CA/BCM VI
_________________________________________________________



MARKETING AND RELATED TERMS

Sometimes marketing is confused or misunderstood in relation to some other terms specially selling, merchandising and distribution. Whereas marketing has a comprehensive concept. Marketing is the total of what we are talking about in a Business activity. Selling is one part of promotion and promotion is one part of the total marketing system. Merchandising speaks about production, planning, and planning to get right product or services to the market at the right time, place. Size and color.
Distribution speaks about market coverage, the retailing and wholesaling structure, the channels used to get the product to the market. Physical distribution speaks about material flow activity such as transportation warehousing etc.
PRINCIPLES OF MARKETING
Principles speaks about in a very simple terms
                                      a.      Get your product
                         b.      Get your price right
                                      c.       Get your ad right
                                     d.      Get your distribution right

Elements of planning for marketing
1.     Marketing is the 1st step in planning for an industry since without planning for market production planning and financial planning will be based on shadowy or unknown goal under this question would be
a.      What are the needs of the market in terms of product feature design quality price packaging
b.     Use of market assessment to determine the answers to many of the above factor
2.     Determination of the scope of the market in terms of annual sales
3.     Choice of channels of distribution whether direct sales to customers or direct sales to retailers or direct sales to wholesalers/sales agent
4.     Promotion and ads - determine its object - techniques promotion and advertising cost in terms of sales management
5.     the sales force - their selection and training, sales organization cost, work planning and direction
6.     Pricing - it approaches to pricing competitive pricing.

PRINCIPLES UNDERLYING SALESMAN SELECTION

Experience has shown certain basic principles should be born in mind selection procedure for effective sales management. They are
  1. No 2 prospective salesmen exactly alike. They differ in ability, attitude, traits, interests, and other characteristics.
  2. No more salesmen should be hired by the Business because the business has the capacity to train and supervise them.
  3. Selection should be followed by carefully planned training and supervision.
  4. A salesman should be hired because he seems definitely qualified.
  5. Proper appraisal of the important factors in selection requires the use of a large no. of techniques and tools
  6. Tools and techniques are aid but are not a substitute for the judgment of a person while selecting because managerial judgment is indispensable.
  7. Employment should never be the result of a single interview with one. No one executive can be absolutely fair to the applicant and supervise.
  8. Selection is only a part of the overall program, which includes selection, training supervision for effective sales management.

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