The market is the arena for potential exchange . A market is the physical size of buyers and sellers who have some need or want have resources and are also willing to participate in the transaction . There are various types of markets such as the resource markets (raw materials market, labour market,and money market ) the manufacturer market , the intermediary market (wholesale and retail market) the consumer market ,and the government market.
The market place is physical . In the modern world where online marketing and e-commerce is gaining popularity the marketspace has become relevent . The marketspace is the digital presentation of offerings buying and selling activities through the Internet so it must useful and important.
Marketers are cluster of related products and services offered by a variety of firms. For example , the housing meta market consists of landowners housing companies construction companies , manufactures of construction materials , banks and many others . Such meta-markets can be found in other areas such as automobile market, and books market.
An organisation can not operate in every market and satisfy every category of needs . The marketer has to define the area in which it performs the marketing activities . The defined market is the target market for the business organisation.
The target market is located by the process of market segmentation. Market segmentation involves dividing the total market into smaller market segments. The target market segments are identified by examining demographic , psychographic, and behavioral differences among the buyers.
The firm develops product or service offers according to the needs of the market segments . The marketer creates certain position (images) about the product or service . The image is established in the mind of the buyers through a positioning strategy . If we are going to start our own business than we have to get knowledge about the market . And if we are going to invest our money , than we have to follow this rules, do not put all the egg in a bucket . If bucket fall down all egg will be broken. So invest our money in different business and get profit and reach to business goal.
Geographic segmentation is the most primary form of market segmentation. The Following geographical variables can used for market segmentation purpose.
1) Area: most organisations decide the geographic area of their operation in terms of countries , districts and cities . The purpose of area segmentation is to determine the location of consumers in a particular geographical area .
2) Topography and climate: Topography and climate , to a large extent affect the product needs of the market as well as the variation in the packaging and distribution systems. An organisation selling in the Nepalese market may segment the total market into Tarai, mid mountain and the himalayan markets.
3) Population: The population density determines the size of demand for the product. When population density variable is used in the market is normally segmented into urban ,sub urban and rural markets.
.jpg)
The company 's objectives and policies , organization structure and resources and strong influences on the marketing activities. The marketing manager needs to persuade the top management to change the organisational goals and policy, increase the resources and modify the organisation structure according to the need of the market.
The organisation's objectives and policy provide a framework within which the marketing activities need to be conducted . Organisation with profit maximization objective does not normally allow freedom to marketing to introduce an after sales program at the cost of profitability . An organisation that targets at creation and retention of satisfied customers will allow marketing to operate with the greatest degree of operational freedom.
Resources available to the organisation set a limit as how far the marketing program can go . Financial resource available with the company affects the size of the marketing budget . Human resources often limit production and marketing of new product . Technological resources affect innovations.
Competition is a major environment variable in marketing . The organisation to be successful in the market should be able to deliver greater customer value and satisfaction than its competitor . In evaluation of the competitive environment , the organisation should determine the type , extent and level of competition in the business market.
Competition can come from domestic products as well as imported products. Competition can be generic ,form , industry and brand.
The industry competition results out of similar products satisfying the needs . For example , the first need can be satisfied by a variety of soft drinks in which the soft drink companies compete among themselves at the industry level. This type of competition affects the marketing activity of the organisation to a large extent and should be evaluated by the organization while designing marketing program for its products.
Distribution is often termed as the other half marketing in the business indicating towards the high weight it receives in the marketing program of an organisation . Distribution is a major element in marketing of goods although its role in marketing of service is not so important .
Producers often treat their distribution system as an asset . They often make large investments to build a distribution system and make regular expenses to maintain and enhance their efficiency for the business.
Distribution plays very important role in marketing in the areas of delivering satisfaction to the society value addition on the product providing production means and channels of communication and employment to large number of people directly and indirectly involved in distribution of products.
So distribution plays main role to get success in business and reach to goal .
.jpg)
Firms today launch hundreds of products in the market . Some products become successful and many others fail to gain market acceptance. Marketers are forced to work in an uncertain environment. They often develop and launch products without knowing how consumers will react to the new products Even with the support of market research new product failures have haunted companies ranging from large multinationals reasons for product failures, the common ones are as follows.
The must common reasons for product failures have been technical problems resulting in less than satisfactory performance of the product in actual use situation . The solar powered vehicle, wind based power generation , and many drugs failed mainly because they could not perform as expected by the buyers.
firms often overestimate the market demand for new products. When the products are launched in the market firms find the demand to be very slow . The slow demand often forces financially weak companies to withdraw the new product from the market.
Products are like living beings they are conceived , born, grow , achieve maturity and finally die. During the conception and development phase , the product is in their pre-natal stage that is explained by the new product development process. After its introduction (birth) into the market and until its final elimination (death) it passes through four stages introduction , growth, maturity and decline. This process is popularly known as product life cycle (PLC). The product life cycle depicts the sales history of a product over time . The sales history of the product is presented graphically in the form a curve .
Every product has a limit life span. Different products have different life span. Some die within a month and some other live for hundreds of years. Products have limit life because of changes in consumers tastes and preferences and change in technology.
Although the consumer need , technology , and brands also have their own life cycle the PLC analysis is conducted at the level of a product category such as automobiles , personal computers, radios , television etc.
.jpg)
Nepal is eight percent rural where traditional labour intensive technology predominates. In villages consumer consciousness in terms of product, features and quality is vero low . Products marketed in the rural areas are mostly sub standard . the price is the cretical variable in rural marketing in Nepal.
On the other side , the urban market of Nepal has became very sophisticated that demand high tech and good performance products with adequate warranty and services. As a result, the urban market has became a dumping ground for imported products . In the urban areas goods and services face very strong competition.
The market of Nepal has became centered on Kathmandu valley that account for more than 70 percent of the market for every product or service . The consumers of Kathmandu valley and some other large cities are well informed through the electronic and cyber media and can execute their buying decisions very selectively . Despite the sophistication of the urban consumers marketers have not been able to innovate effectively. The Nepalese market is swarmed with me too products and copycat advertisements.
politics and law of country playing important role in development of marketing activities in business in the world .Unfortunitly political and legal
support to marketing has been very little in nepal and other country plays a very huge support to the marketing in the business. Business is the
only one big deal to growing economy in the sountry so the many of country support for the business for the growing their economic condition.
The country has been politically unstable in the last decade. The country has frequently changes of government.
Policy stability is almost non existent . Inefficient administration ineffective goverance mechanism and inadequate service delivery system has
almost crippled all development projects in the country . Moreover internal political conflicts are diverting resources to military purposes. The
political system and administrative mechanism have become corrupt . foreign investment in the business sector is decreasing due to high cost
of corruption and lack of security . On the whole the political environment has not been conducive for development of marketing in the business
of their country .
The economic liberalization and privatization policy of the government had brought about several changes in the legal provisions favorably contributing
to an open economy . Nepal gained full membership of WTO . Despite these positive developments the country lacks effective law regulating property right
copy right and patents that protects innovators. Consumer confidence on the Nepalise products is low due to weak laws protecting consumers.
.jpg)
Inventory management is another important decision area in physical distribution . Inventory management is concerned with developing a system of maintaining an adequate level of product assortments to meet the customers demand.
Inventory planning is highly essential as shortages of products normally result in customer disappointments , and hence a lower level of customer servicing. Overstocking of inventories normally result in higher costs in capital tie-up , increased cost of warehousing and insurance, product decays and obsolescence costs. The increased costs result in a lower profitability . therefore , inventory management seeks to achieve a delicate balance between a shortage of inventory's and excess stock . Inventory managers deal with issues, such as when to reorder and in what quantity to reorder. So inventory management play a big role to reach the business goal . So inventory management is importance for business.
.jpg)
Advertisement involves various costs that are paid by the sponsor of the advertisement . The major cost items in advertising are research expenses, development and production expenses, media costs and administrative expenses.
The advertiser needs to undertake several research activities during the development of advertisement , the campaign period and post campaign period . about ten percent of the total advertisement expenses are spent for the development and production of the advertisement . development costs include the cost of visualization , copy-writing , layout design . artwork etc. The media cost account for almost four fifth of the advertisement budget . The advertiser also needs to pay the salaries to executives and staff of the advertising department. If we are not giving advertise than our goods will be sell easily and get profit in the business . So advertising is the most important for the growing our business volume and reach to business goal .
.jpg)
The internet is gaining popularity in recent years as an important direct marketing channel. The Internet is a vast and ever growing global web of computer networks . It connects most of the computer users around the world . computer users around the world can obtain and share information on any topic , product, or service using the Internet . The application of user-friendly World Wide Web browser software has made the surfing very easy . The use of Internet for e-business is practiced at four levels:
1) Business to consumer: Business firms sell a variety of goods directly to consumers over the Internet . The most frequently sold products are books, music,computer software , air tickets, personal computer peripherals , clothing ,home videos hotel reservations toys ,flowers , and consumer electronics.
2) Business to business : Use of websites targeted at business buyers is more than those targeted at consumers . Internet has changed the structure of the supplier-customer relationships.
3) Consumer to consumers : The chat rooms allow a very large number of consumers to exchange information , share experience with products or services , and also buy or sell products through a mutually beneficial transaction.
4) Consumer to business: The internet has also facilitated to establish communication link between the consumer and the company . Consumers can access websites of the company that allows entering a call-me-button that connects to a company employee ready to listen to the consumer's comments,complaints and suggestions.
.jpg)
The online marketing is conducted through interactive on-line computer system. The on-line systems link buyers with sellers electronically . There are two types of marketing channels: commercial on-line marketing and the internet.
commercial online marketing:
Commercial on-line offers on-line information and marketing services to subscribers on the payment of a monthly fee. these services provide information ,news ,entertainment , shopping services, dialogue access and e-mail services. Online subscribers can order a variety of products and services, electronically from a variety of sources listed in the commercial online service sites. Customers can do online banking : make investments , reserve airline ticket ,or book hotels . there are unlimited possibilities of online business . Amazon.com and yahoo.com the best or most popular sites are examples of commercial online business.
The e-commerce is a part of the larger e-business that involves using electronic means and platforms to conduct a company business . Today, may companies ( Microsoft ) claim to be operating paperless with the help of electronic means . E-business uses three type of networks for conducting business operations .
1) Internet: The global network through which a firm or an individual can contact , access and share information , order for products and services , and sell products and services to other users of the internet . Internet has greatly increased the ability of companies to conduct their business faster , more accurately, on a wider range of time and space , at reduced cost, and with the ability to customize and personalize customer offerings.
2) Intranet: This is an in-company network that allows employees to access and share information with each other in order to improve the company's performance .
3) Extranet: This is a network of company with its supplier , distributors , and major customers facilitating exchange of information, execution of orders, transactions, and payments.
Direct marketing is one of the rapidly emerging concepts in the contemporary marketing world . direct marketing is a form of non store retailing in which the marketer uses non personal media to introduce products to consumers and consumers purchases the product without visiting a store.
Direct marketers contact consumers through radio, telephone, television , newspaper, magazines, catalogs , or direct mail . Consumers order products by telephone , regular mail, or e-mail. The ordered products are delivered to the consumers addresses.
direct marketing has grown into big business in USA and Europe where consumers are found to be too busy to visit retail outlets to purchase consumable items . The approach is slowly picking up in urban areas of developing countries including India and Nepal.
Direct marketing includes a variety of retailing practices such as the traditional methods of in-home retailing mail-order retailing telemarketing , and television marketing to the modern approach of database marketing and electronic marketing ( dealt in the next section ).
Classification of industrial products is often difficult due to the
large number and type of such productsand the unlimited uses of the products.
In marketing , industrial products have been classified into three broad
cate gories materials and parts , capital goods and supplies and business services.
1) Materials and parts are unprocessed and semi processed items that will be
converted into the final product by manufacturer.
2) In course of production , materials change their form and utility several times wh
ile parts will become an actual component of the finished product.
3) Materials are of two categories natural materials and agricultural products .
Natural materials are those lying in their natural state , such as minerals , oils,
and products of forests and sea . the supply of natural material is limited and cannot
be substantial increased by its producers . the sources of supply is controlled by few
large producer.
.jpg)
Consumers face several buying decisions every day . Some buying decisions are simpler than others. For instance , there is a marked difference in the purchase decision made by a consumer while buying toilet soap a shirt , a car or a house . The complexity of the buying process is affected by whether the product to be bought is of high involvement or low involvement.
In high involvement purchase , the consumer is prepared to invest more time resources and efforts. In this situation , the consumer lacks full information about the product , the amount of money involved is large , the product has high social importance and the product is perceived to give long run benefits . Normally , the purchase of a car or a house is high involvement.
In low involve purchase the consumer does not exert much time resources and efforts. In this situation , the consumer is comfortable with the amount of information he/she has about the product the amount of money involved is small , the product has low social importance and it gives short term benefits.
The field of buyer behavior analyzes how individual ,groups and organisations buy products to satisfy their needs and desires. Buying behavior is the decision process and acts of people involved in buying and using products.
Consumer behavior refers to the buying behavior of ultimate consumer , those people who purchase products for personal or household use . Consumer behavior is the sub-set of human behavior focusing on the consumption role . Organisational buying behavior refers to buying by business organisations, social institutions and government.
buyer behavior is the study of how individuals and groups make their decisions to use their resources in the terms of time , money and effort . it includes the study of various aspects of buying , using and disposing products and services such as :
1) Objects : why they buy ?
2) Reasons : why they buy it?
3) Occasions : when they buy it?
4) Place : where they buy it?
5) frequency : how often they buy it?
6) Use : how they use it?
7) frequency of use : How often they use it?
8) Disposal method : What they do it the residual part of the product after the use?
.jpg)
marketing research involves specific inquiries into specific marketing problems. It is basically problem oriented and based on systematic and based on systematic and careful planning and implementation.
marketing research specifies the information required to address these issues ,designs the method for collecting information ,manages and implement the data collection process , analyzes the result and communication.
scientific methods are used for gathering and analysis of information to achieve objectivity in the research .Marketing research is an applied research that attempts to use the existing knowledge to solve the specific marketing problems faced by the firm. Marketing research as a discipline is multi-disciplines as it borrows knowledge, concepts,tools and technology developed in various other disciplines such as psychology ,operations research and computer science. It is a very short term research often completed within a month.
.jpg)
MKIS has became an essential part of the marketing decision process.Its importance is gradually growing in the following areas:
1) closing the information gap: Expansion of the geographical market coverage from local to national to international scale has made mkIS vital for day to day operation of an organisation . this expansion of the market coverage has widened the information gap between the organisation and its market.
2) want creation and Delivery: Today marketing goals have changed from understanding and satisfying buyers need to want creation and delivery. it has posed a greater challenge to desires located in the subconscious part of the mind. marketing has reach a new height where organisations strive to create , mold and modify new desires and want among the consumer.
3)want creation and Delivery: Organisation today belive that price competition leads to price cuts , which usually results in a loss not only to individual organisations but to the industry as a whole . Organisation prefer to compete over non price factors such as product differentiation system for an organisation .
The industrial or business market is very large in size . it includes industrial institutional and reseller markets . since the buying activity in this market is mostly guided by logical reasoning the segmentation variables used are much simpler than in the consumer market . the common segmentation variables for industrial or business market can be grouped into geographic operating and purchase procedure variables.
Geographic variables
The location of the business becomes a primary segmentation variable as every business supplier has to decide its geographical boundary of operation in international marketing,the organisation has to decide as to which region or country of the world it wants to export . Similarly in domestic marketing it has to decide whether to sell to customers in urban or rural areas . since product needs and packaging requirements are affected by the climatic conditions the climate of the market is also used for segmenting the business market . for example a garment manufacturein nepal has to supply warm clothing in the hills and mountains while the plain region of tarai demands light type of clothing.
Marketing is the main ways to get success in business , we can not get success in business it plays a main role to get market and reach to customer and get benefit . at first we have to choose the right palace for right goods in right time than business can reach the goal and able to make maximum benefit. Every one can start their own business but all of them are not able to get success . Because they have lack of education , experience, and lack of knowledge . so at first we have to analysis the market and their economic condition and the people what they want. after that we can produce our goods for the sale. So the marketing plays main role to earn money and reach to the customers . If we are making branded goods and sold to customer then they believe the goods and their services.
If our goods have not quality affordable quantity and the goods market than it will not be success.
If we are going to start at first we need to make business plan without planning cannot start business and we should not get success, so to get success and reach to business goals we needed a complete business plan. if there is no any plan we cannot start any business organisation .to get changes in business we have to need capacity planning . capacity is needed by an organisation to meet changing for demands and products. capacity planning is a long term decision to established a firms and level of resourcess. Planning public policy and organisation both are organisational process and creating a plan.
business means the term business denotes activity related to trade ,comerce ,accupation and industry come to made profit . it is an organisation engaged in production and marketing of products to make profit through customers satisfaction .we can start business in small size business and big size if we start in samll it is called small business, small business is indepedently owned and operated and not determinant in its field of operation .to get success in business planning plays a very good roles . planning is predetermining future it sets objectives and the action to achieve them is primary function of the management . without planning no any function can be perfirm properly.
the business plan is a formal statement to reach the business goal . it is a set of intended action . the business goals define for profit and non profit organizations. profit business plan define for financial organization and non profit plan and government organization focus for mission. to reach the goal we have make a good plan and good analysis market and their environment , and analysis their economic growth. after making plan we have to make good relation with customer because customer are the god to reach the business goals. now a days many business start e-business
a business is a legally recognized organization which held every where of the world. it can be start from lower price . it is designed to provide goods and services to customer . if we are going to start a business first we have to make a good plan. the business plan may define for profit and non profit organization. most of people are started their own business and get large profit and some of organization are open their business to help poor and innocent people to increase their capability .
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
