Unit 1: Introduction to Market and Marketing

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Questions and Answers

What is the primary goal of events in marketing?

To promote a new product or service

To increase sales and revenue immediately

To entertain and engage with existing customers

To connect with potential buyers and create a lasting impression (correct)

What is the main shift in orientation in the marketing concept?

From production orientation to marketing orientation (correct)

From customer orientation to product orientation

From internal orientation to external orientation

From sales orientation to satisfaction orientation

What is the result of adopting the marketing concept, as seen in British Airways' example?

Focusing on selling and revenue

Defending the company's interests

Increasing production and supply

Championing the customer's needs (correct)

What is marketing, in essence?

More than selling, it's about satisfying customers Signup and view all the answers

What is the limitation of the production concept?

It neglects customers' needs and wants Signup and view all the answers

When does marketing begin and end?

Before production and continues after sales Signup and view all the answers

What is the scope of marketing in an organization?

A function of all departments Signup and view all the answers

What is the biggest advantage of adopting the marketing concept?

Keeping the organization free from marketing myopia Signup and view all the answers

What is the primary focus of the marketer in the exchange process?

Facilitating exchange of goods and services between producers and consumers Signup and view all the answers

What is the primary difference between a manufacturer and a producer?

Manufacturer produces goods in a factory, while producer does not Signup and view all the answers

What is the primary role of the end user in the consumption process?

To consume goods and services Signup and view all the answers

What is the primary motivating factor behind the marketer's activities?

To facilitate exchange of goods and services Signup and view all the answers

What is the primary outcome of the marketer's activities?

Exchange of goods and services Signup and view all the answers

What is the primary characteristic of the products mentioned in the introduction?

They are all used throughout the day Signup and view all the answers

What is the primary role of the marketer in relation to the producer?

To facilitate exchange of goods and services Signup and view all the answers

What is the primary focus of the consumption process?

Consumption of goods and services Signup and view all the answers

What is the primary objective of demarketing strategies?

To reduce total demand without alienating loyal customers Signup and view all the answers

What is the consequence of over marketing strategies?

The firm gains, but the society is penalized Signup and view all the answers

What is the primary goal of counter marketing strategies?

To reduce demand for harmful products and services Signup and view all the answers

What is the marketing philosophy of counter marketing strategies?

Service rather than profiteering is the primary goal Signup and view all the answers

What is the primary focus of green marketing or eco-marketing strategies?

To determine the needs, wants, and interests of target markets Signup and view all the answers

What is an example of a counter marketing strategy?

Statutory warning or regulations for smoking Signup and view all the answers

What is the consequence of over marketing strategies in rural markets?

It works well in the case of rural markets Signup and view all the answers

What is the primary goal of demarketing strategies in the case of unprofitable or unsafe market segments?

To discourage demand from certain segments of the market Signup and view all the answers

What is the primary goal of Green marketing?

To protect endangered species of flora and fauna and eco-systems Signup and view all the answers

What is the main focus of Relationship Marketing?

Developing strong relationships with customers and business partners Signup and view all the answers

What is the primary reason for the development of Relationship Marketing?

To extend relationships to business partners Signup and view all the answers

What is the outcome of building strong relationships in Relationship Marketing?

Higher levels of cooperation and increased efficiency Signup and view all the answers

What is Mega Marketing?

A set of strategies to reopen closed markets and reign over strongly again Signup and view all the answers

What is an example of a company that was successful in India during the ban on Coca Cola?

Parle Company Signup and view all the answers

Why were swadeshi companies encouraged in India during the ban on Coca Cola?

To support local industries and reduce dependence on foreign companies Signup and view all the answers

What was the outcome of the fall of the Indira Gandhi government in relation to Coca Cola and Pepsi?

Coca Cola and Pepsi entered Indian markets again Signup and view all the answers

What is the primary goal of organizations marketing themselves?

To create a unique and favourable image in customers' minds Signup and view all the answers

What is the name of the campaign launched by the Indian government to market India as a tourist spot?

Incredible India Signup and view all the answers

Which of the following is an example of marketing of places?

Amithabh Bachchan's campaign for Khushboo Gujarat ki Signup and view all the answers

What is the purpose of marketing properties?

To find buyers and sellers for the exchange process Signup and view all the answers

What is the common goal of marketing places, organizations, and properties?

To create a unique image in customers' minds Signup and view all the answers

What is an example of an event that marketers promote?

Cricket World Cup series Signup and view all the answers

Who are the place marketers?

Real estate developers, commercial banks, businesses, etc. Signup and view all the answers

Study Notes

Introduction to Marketing

Marketing is a process that facilitates the exchange of goods and services between producers, marketers, and consumers.
A marketer performs various activities to facilitate this exchange.

Types of Marketing

Place Marketing: Cities, states, and nations can be marketed to attract tourists, investment, or businesses. Examples include India's "Incredible India" campaign and Kerala being marketed as "God's Own Country".
Organization Marketing: Organizations market themselves to create a favorable image in customers' minds. Examples include the Tata Group, Philips, and real estate developers like DLF and Unitech.
Event Marketing: Marketers promote events to customers, such as sports events, concerts, awards, and fashion shows, to create a lasting impression.

Evolution of Marketing Concepts

Production Orientation: Focuses on manufacturing and producing products.
Product Orientation: Focuses on the quality and features of products.
Selling Orientation: Focuses on selling products to customers.
Marketing Orientation: Focuses on satisfying customers' needs and wants.
Societal Marketing: Focuses on satisfying customers' needs while also considering the well-being of society and the environment.
Green Marketing or Eco-marketing: Emphasizes delivering products effectively and efficiently without harming the environment or ecosystems.
Relationship Marketing: Focuses on building long-term relationships with customers and business partners.
Counter Marketing: Aims to reduce or eliminate demand for harmful products or services.
Mega Marketing: Strategically re-enters closed markets and rebuilds strong relationships with business partners.

Key Concepts

Marketing Concept: A business philosophy that focuses on customer satisfaction and building long-term relationships.
Customer Orientation: Focuses on understanding and satisfying customers' needs and wants.
Marketing Mix: Consists of four key elements: product, price, promotion, and place.

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Description

Learn about the concept of marketing, its importance to marketers, consumers, and society, and understand the scope of marketing. Distinguish between marketing and selling, and explore the journey of marketing through different philosophies.