Marketing Process
Marketing Process
Marketing Process
MARKETING PROCESS.
Prof : Mr. Vinayak. Gopal. Patil.
Marketing is the managerial process by which products are manufactured according to the need, demand and the requirement of the consumers and after production their ownership is passed on to the final consumer for whom it is produced. In this way the work of marketer starts long before the organization's production work starts and continues long after their sales achieved. During this long way the marketer has to perform various types of activities. He is involved in identifying and the studying the consumer needs and desires, developing product concepts which aimed at the satisfying the needs, testing the validity of the products, designing the products features, developing the packaging and the brand name , pricing the products, arranging for the distribution, creating effective marketing communication for the consumer. Purchasing is the most efficient media for commercial messages, monitoring the customers satisfaction and revising the marketing plan in the light of results. Thus marketer has to play vital role as a marketer researcher, psychologist, inventor, sociologist, economist, communicator, and lawyer. Now let us see in detail about the process.
As we have said that, the marketing is s managerial function or a process by which products are matched with the market and through which the ownership is transferred from the owner or manufacturer to the hands of actual user of the product. In olden days the wants were limited and the market and marketing was also limited as well as simple. There was a direct relationship between the manufacturer and the consumer of the product ion the market. The producer were in a position to tap, to know the changes in fashion, likes dislikes, taste, factors directly while on the other hand the customers of users also were convincing their demand, expectation. Thus the exchange of facts, information was taking place between the manufacturer and user of the products. With the invention of many improvements in transportation facilities, better & effective financial institutions, warehousing, specialization & division of labor, use of newest technology in production of goods and services, the effective channel of distribution of goods and services and last but not least use of power have brought revolutionary changes in the field of marketing. In today's era the marketing activity is not directly concentrate with the customers. But even in this situation the products reaches in the hand of customers by passing long journey through intervening agencies. Hence the marketing process is divided into many agencies. It is divided into 3 parts;
Concentration.
Dispersion.
Equalization.
1. CONCENTRATION: In a highly developed countries and complex economy mostly each producer and the customers are located for thousand of mile away and the products must be transported correctly, quickly so as to rich in the hand of customer. As countries are becoming more develop and the multinational trade increases, storage and transportation and inventory management, the handling of customer and their orders increases the importance. Due to complex Economic system, products are generally produced in anticipation demand of the market. For it is the storage, transport, warehousing is necessary. Manufacturer, wholesaler, retailer all holds the inventory. When the buyers buy the products form the retailer, the retail inventory reduces the stock and replenished by the wholesaler inventories which in turn are replenished from the manufacturer inventory.
Similarly, the consumer's own stock of the products is reduced by his own consumption and replenishing by his purchase from the retailer. When the product is purchased at the retail level, the stock level also fluctuate the line of distribution. Thus concentration involves the following activities :
Purchasing.
Storage and Warehousing.
Transportation.
Financing.
DISPERTION : Concentration is not a goal of marketing. The main object of marketing is to offer the products to the final user. The transportation is a necessary and also an important activity. The markets are separated geographically from population area. Many factories or production area are separated due to nuisance, increase in population, growing an awareness about health hazards, lack of availability of roads, electricity, and other such infra facilities etc. Dispersion is a marketing activity through which the goods and services are delivered to their real customer at the right time, at right place, at right price, in right quantity through effective channel of distribution. This work is done by the wholesaler who first stores the goods and sells them to the retailer in small quantities. And these retailers again sell the products to the actual consumer. Thus, the distribution activity involves many tasks i.e
Sales.
Storage.
Classification.
Transportation.
Financing.
* Some large producing companies have undertaken the work of distribution through their chain shops. *
EQUALISATION: The Third major process of the marketing machinery is the Equalization'. According to Clarck & Clarck; "Between these process of Concentration and Dispersion occurs the activity which we call Equalization'. Equalization consists of adjustment of supply to demand on the basis of time, quantity and quality ". In simple words, equalization is the process of making available of goods in a particular place or market just in accordance to the actual demand so that the changes of loss might be minimized. It is the process of adjustment of supply to the actual demand of a particular place. After concentration, it has to be seen that the right kind of goods in right quantity are being taken to a particular market according to the demand. If the equilibrium between the supply and demand is diminished, it is quite possible that it may cause heavy loss either on the part of supplier or to the buyers. It may also go against the interest of the consumers who might not get right type of products in right or stipulated quantity. In this way the process market goes on simultaneously. The wholesaler procures the goods and the make available to retailer as the demand in different market as per the requirement. In this way, in their activity of the dispersion they look to the equalization.
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