NOT FOR SALE FOR PRIVATE CIRCULATION ONLY 1st Edition Jan 2009 2nd Edition July

Not for sale for private circulation only 1st edition

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NOT FOR SALE. FOR PRIVATE CIRCULATION ONLY. 1st Edition (Jan, 2009). 2nd Edition (July, 2011). 3rd Edition (Feb. 2016) 2
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CONTENTS Contents Chapter No. Chapter Name Page No. 1 Introduction 3-11 2 Evaluating Products 12-21 3 Profit Center Evaluation 22-29 4 Territory and Product Level Profitability 30-54 5 Pricing 55-96 6 Sales Force Evaluation 97-112 7 Working Capital 113-120 8 Budgets 121-132 9 Evaluation of Promotional Spends 133-139 10 Evaluation of Channels 140-149 11 Brand Valuation 150-164 12 Problems for Exercise 165-202 3
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INTRODUCTION Chapter 1 INTRODUCTION Learning Objectives After going through this chapter you should be able to know: A brief definition of terms and concepts. The logical connect between the two functions of marketing and finance. Elements of the marketing mix and their role in profits through customer satisfaction. Importance of customers in the entire business process. Structure: 1.1 Marketing Activities 1.2 Summary 1.3 Self Assessment Questions When one has to write about a subject such as Marketing Finance the issue that comes up foremost in the mind is what constitutes the framework of such a topic. Marketing generally is more external oriented – out ward looking (seeking sales, market shares, in the markets) whereas Finance is more internal oriented – inward looking (looking at controls over expenses, costs, and increasing returns on investments). However they have to depend upon each other either one has to complement the other they can not afford to be in conflict. As a matter of fact in business one observes that after a stage all the basic functions, surrender their individual identities, to merge into one whole organizational objective which in most cases have to, in one way or the other, do with profitability. 4
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INTRODUCTION Therefore finance has more to do with controls, arranging and managing funds, keeping tabs on expenses, and on the overall, ensuring that owners’ net worth is protected and enhanced. Let me start with defining the subjects, a little more in detail. We’ll start with defining what is Marketing: Marketing has at times been defined as ‘a set of human activities directed at facilitating and consummating exchange’ . Finance as all of you know has to do with the monetary part of business, be it revenue i.e. income, or expenses i.e. costs. “Marketing is the process of planning and executing the conception, development, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.” – American Marketing Association. “There will always be, one can assume, the need for some selling. But the aim of Marketing is to make selling superfluous. The aim of Marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, Marketing should result in a customer who is ready to buy. All that should be needed then is to make the Product and or Service available” Peter Drucker. Another very apt definition of Marketing can be 'managing profitable customer relationships’ or 'satisfying customer needs profitably’.
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