Important functions of marketing, Principles of Marketing Video Lecture | Principles of Marketing - B Com

question two define marketing explain
the importance of marketing question to
define marketing explain the importance
of marketing
definition by Chartered Institute of
marketing UK marketing is the management
process of identifying and dissipating
and satisfying customer requirements
profitably
I repeat marketing is some management
process of identifying anticipating and
satisfying customer requirements
profitably
importance of marketing point number one
customer satisfaction to corporate image
three competitive advantage for
expansion of business five brand loyalty
six organizational objectives seven
optimum utilization of resources eight
efficiency let us understand these
importance of marketing in detail first
importance customer satisfaction
customer satisfaction is the outcome of
a correlation between product
performance and customer expectations
when product performance matches with
customer expectation the customer will
be satisfied when product performance
matches with customer expectation the
customer will be satisfied when product
performance below than customer
expectation the customer will be
dissatisfied the product performance
below than customer expectation the
customer will be dissatisfied when
product performance exceeds customer
expectations the customer will be
delighted when product performance
exceeds customer expectation the
customer will be delighted when product
performance exceeds very much than
customer expectations customer will be
astonished when product performance
exceeds very much than customer
expectation the customer will be
astonished second importance corporate
image marketing helps of form to develop
and enhance its corporate image
marketing helps of form to develop and
enhance its corporate image with the
help of effective marketing of firm
achieves higher performance with the
help of effective marketing of form
achieves higher performance such as
increase in sales profit and market
share therefore corporate image improves
in
the minds of customers dealers employees
shareholders and other stakeholders
therefore corporate image improves in
the minds of customers dealers employees
shareholders and other stakeholders
third importance competitive advantage
effective marketing helps to face
competition in the market effective
marketing helps to face competition in
the market professional marketers are
proactive in decision making
professional marketers are proactive in
decision making they come up with
innovative designs or models creative
promotion schemes effective customer
relationship techniques I repeat they
come up with innovative designs or
models creative promotion schemes
effective customer relationship
techniques etc fourth importance
expansion of business effective
marketing improves the performance of
the phone which facilitates the
expansion of the form effective
marketing improves the performance of
the form which facilitates the expansion
of the form which helps a firm to expand
business from local to national and
national to international market which
helps a firm to expand business from
local to national and national to
international market for business
expansion the form may undertake various
activities such as market penetration
market development product development
market penetration market development
product development effect importance
brand loyalty effective marketing
enables the firm to develop brand
loyalty effective marketing enables the
firm to develop brand loyalty brand
loyalty refers to repeat purchases by
satisfied or delighted customers
recommendation by existing customers to
friends neighbors and others brand
loyalty refer
us to repeat purchases by satisfied or
delighted customers recommendations by
existing customers to friends neighbors
and others sixth importance
organizational objectives marketing
helps the form to achieve marketing
objectives some objectives are as given
below increasing profits increase in
market shares increase in sales develop
brand equity enhanced brand loyalty
improved brand image and the last
improved corporate image marketing helps
the firm to achieve marketing objectives
some objectives are as given below
increase in profits increasing market
share increasing sales developed a brand
equity developed brand loyalty improved
brand image and the last improved
corporate image seventh importance
optimum utilization of resources due to
proper marketing the company get higher
demand for goods and services due to
proper marketing the company gets higher
demand for goods and services increase
in demand lifts to higher production and
distribution increasing demand leads to
higher production and distribution the
company can make optimum use of
following resources the company can make
optimum use of following resources
capital resources such as working
capital funds and fixed capital fund
capital resources such as working
capital fund and fixed capital fund
manpower resources such as managerial
and non managerial employees manpower
resources such as managerial and non
managerial employees physical resources
such as machinery equipment tools etc
physical resources such as machineries
equipments tools etc 8 importance
efficiency marketing brings higher
profits a part of profits is pained on
various activities such as
research and development technology up
gradation training and development etc I
repeat research and development
technology up gradation training and
development etc all the above activity
improves the efficiency of the
organization all the above activities
improves the efficiency of the
organization let us revise all the
points of importance of marketing point
number one customer satisfaction by
number two corporate image three
competitive advantage for expansion of
business five brand loyalty six
organizational objectives seven optimum
utilization of resources eight
efficiency once again customer
satisfaction corporate image competitive
advantage expansion of business brand
loyalty organizational objectives
optimum utilization of resources and
efficiency thank you thank you for
watching this video and if you like this
video please share it with other
students of T by be calm thank you once
again