Mgt501 Notes
Tuesday, April 13, 2010 Posted In MGT Edit ThisBENCH MARK OF MARKETING
Marketing concept is here almost from last four decades, but in olden times marketers were not as much serious as they should be now, because today the buying and selling patterns become bit different than before. Today, a minor mistake can destroy whole business completely, today there are a lot of tough decisions for marketers, and one should take decision after a lot of thinking about it because a single wrong decision which is taken by marketing manager/marketer can completely put business back and give competitors edge over the market place.
Normally marketing seems a task of creating promoting and delivering goods and services from producers to consumers.
But actually marketing is not only the play of promoting and delivering.
Now in fact, it is:
“Right product for the Right people at the Right time at the Right place at a Right price with Right
services”.
Well let see what is right?
Suppose I am hungry and want to eat a burger. Now Right product is burger, right people of course me, who is hungry, right time when I am hungry because I don’t need burger when I haven’t hunger so right time is when I am hungry and demand a burger, so that time burger would available for me, right place will be near to my home or my residential area, from where I can easily get burger, because if burger will available far away from my home then it might be ignored by me. Right price means affordable price, the price which I can easily pay for my need, a burger can be 40 to 60 Rs. But if someone offer me a burger at cost of 1000 Rs. Then do I purchase that burger, the answer is never.
Well I was hungry and want a burger to relief my hunger, I found a shop which has foot distance to my home, I can go to shop within 2 minutes, It means, marketer provide a burger at right place, well when I asked the price of burger, it was only 45 Rs. OK this price is really affordable for me, well I am happy because I found the right product, for right people (means for me) at right time means when I was hungry at right place means near to my home, at right price because I can easily pay 45 Rs. For burger but shopkeeper’s behavior is not good with me, or I saw a fly on a burger, or I saw a cockroach on the burger, what you think now Do I buy burger from there??? Again my answer is never.
So all rights are very necessary at same time:
“Right product for the Right people at the Right time at the Right place at a Right price with Right
services”.
CONSUMER
Who directly consumes the product, when we eat the burger that time we are consumer.
CUSTOMER
An individual who might or might not be consumer but he/she takes a decision to buy a specific product.
There are two kinds of customers:
Internal and External
Internal customers are those customers who work in the producing organization, for example you are the worker and make burgers and same time you are also consumer of burger.
External customers are those customers who haven’t any link/relation with the producing of product but a consumer of that product.
Marketing concept is here almost from last four decades, but in olden times marketers were not as much serious as they should be now, because today the buying and selling patterns become bit different than before. Today, a minor mistake can destroy whole business completely, today there are a lot of tough decisions for marketers, and one should take decision after a lot of thinking about it because a single wrong decision which is taken by marketing manager/marketer can completely put business back and give competitors edge over the market place.
Normally marketing seems a task of creating promoting and delivering goods and services from producers to consumers.
But actually marketing is not only the play of promoting and delivering.
Now in fact, it is:
“Right product for the Right people at the Right time at the Right place at a Right price with Right
services”.
Well let see what is right?
Suppose I am hungry and want to eat a burger. Now Right product is burger, right people of course me, who is hungry, right time when I am hungry because I don’t need burger when I haven’t hunger so right time is when I am hungry and demand a burger, so that time burger would available for me, right place will be near to my home or my residential area, from where I can easily get burger, because if burger will available far away from my home then it might be ignored by me. Right price means affordable price, the price which I can easily pay for my need, a burger can be 40 to 60 Rs. But if someone offer me a burger at cost of 1000 Rs. Then do I purchase that burger, the answer is never.
Well I was hungry and want a burger to relief my hunger, I found a shop which has foot distance to my home, I can go to shop within 2 minutes, It means, marketer provide a burger at right place, well when I asked the price of burger, it was only 45 Rs. OK this price is really affordable for me, well I am happy because I found the right product, for right people (means for me) at right time means when I was hungry at right place means near to my home, at right price because I can easily pay 45 Rs. For burger but shopkeeper’s behavior is not good with me, or I saw a fly on a burger, or I saw a cockroach on the burger, what you think now Do I buy burger from there??? Again my answer is never.
So all rights are very necessary at same time:
“Right product for the Right people at the Right time at the Right place at a Right price with Right
services”.
CONSUMER
Who directly consumes the product, when we eat the burger that time we are consumer.
CUSTOMER
An individual who might or might not be consumer but he/she takes a decision to buy a specific product.
There are two kinds of customers:
Internal and External
Internal customers are those customers who work in the producing organization, for example you are the worker and make burgers and same time you are also consumer of burger.
External customers are those customers who haven’t any link/relation with the producing of product but a consumer of that product.
