In both the above definitions one may note the emphasis put on customers and

In both the above definitions one may note the

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customer relationships’ or 'satisfying customer needs profitably’. In both the above definitions one may note the emphasis put on customers and profit . We can also look at marketing and selling from a different perspective: Step wise the entire process would be: 1. Through a scan of the environment, locating a particular need or problem area, which is not being fulfilled, or being catered to, either fully or below a satisfactory level, which in other words means – identifying a need gap ( that in turn means presence of an opportunity ) 5
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INTRODUCTION 2. Devising a product/service/solution i.e., – creating an offering that will address the particular identified void. 3. To make economic sense of this opportune situation. First find out whether a meaningful/substantial segment exists for that particular offering. What is the cost of manufacturing/delivering/servicing the market. What is the price the identified segment is willing to pay for the offering. When we start looking at the several aspects of servicing the market/ segment: We also have to look at the cost of communicating the particular offering to the identified target audience. We have to look at competitors to find out the threats from their end. We have to evaluate incentives to be given to obtain and retain buyers, motivate intermediaries and other stake holders. Look at the various costs that the organization has to incur to keep the chain moving. Evaluate the several functions that form part of the entire process. Evaluate the effectiveness of all such functions as to whether they are individually delivering to their agreed expected levels. After all this, a good marketer will look at ways and means to improve the success of the marketing initiative that the opportunity has provided. At this point one may look at answers to the following basic questions: What? Why? Who? Where, When, and How? What would define the Object being purchased 6
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INTRODUCTION Why would define the Objective of purchase You may observe that someone visiting a grocery store and picking up a tube of tooth paste is buying something to apply on a tooth brush and use to clean and wash the teeth. However a little probing may reveal that different people may have different motives in buying a tube of toothpaste, such as: one may buy for cleaning only, another may look for freshness of breath, over and above simple cleaning, while another may look for tooth decay fighting properties in the tooth paste, beyond the above simple cleaning functions, and so on and so forth. If on the other hand we were to look at the reasons prompting a retailer to buy a tube of toothpaste, we may find his reasons may be to earn money through resale, and hence he may evaluate the margins that he makes per tube, the velocity with which a particular brand moves off the shelf, vis-a- vis other brands, to decide which particular make of tooth paste he should buy and then too, in what quantities.
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