Marketing Management: A Decision-making Approach (Response by Pingali Venugopal

By Pingali Venugopal

A latest discourse at the quickly altering surroundings of the area of selling, this ebook presents the chant to remodel short-run revenues into long term advertising progress. beginning with the fundamentals of selling, it takes the reader on a soft trip to appreciate numerous suggestions of right decision-making out there. In doing that, it presents an in-depth research of the way to construct a sustainable consumer base within the ever-growing competitiveness and dynamism of the Indian advertising enviornment. ? 

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Extra resources for Marketing Management: A Decision-making Approach (Response Books)

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1â•… Traditional approach to marketing Source: Author This approach presupposes that new products are being developed to satisfy needs. For example, Amway which advertises: We make better products in a whole new way: We use our ears. …That’s Amway, a company that spends money where it matters. In Research and Development. However, it is always not the situation. There could be situations when new products are invented (by chance) and require to be marketed (for example, Scotch-Brite) or products are imported and need to be marketed in the new geographic market (dish washers in India).

But now the proportion of the self-employed in urban India has risen to 40 per cent plus, replacing the employed as the main salary earner. A study shows that even in the ‘creamy layer’, comprising the top two social classes in towns of 10 lakh plus population in urban India, 40 per cent of chief wage earners of households are shop owners, petty traders, businessmen and self-employed professionals. Unlike the salary earner, the self-employed are fast adopters of any productivity tools that can help them earn more, thus reducing the priority of consumer goods.

For example, in case of bread, it would be competition from different types of bread (Milk bread, brown bread and so on). • Competition at the Functional Level: This includes all the other products providing the same functional benefit. Since bread is primarily seen as a breakfast food, it would compete with corn flakes, idlis, paranthas, and so on. • Competition at the Emotional Level: If bread is projected as satisfying the status need, then the competition at this level would include all the food products which satisfy the status need.

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