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Internet Marketing Mix: Is it beyond of 4Ps/7Ps?

4Ps refers to Product, Price, Place and Promotion. It is traditional marketing concept and known as tools of Marketing Management. It works operational point of view, controlled by marketers. 4Ps are focused on internal variables, so, it seems as tool of Physical Marketing Management .Strategic point of view there is something drawbacks in it. Strategic concept is more customers centric. When customers become more valuable, then, the tool to deal with market is 7Ps ( Product, Price, Promotion , Place, Participants/ People, Process, and Physical evidence ). First four Ps are controlled by Marketers but last three Ps can not be controlled, because there is more participation of Customers and together represents service mix.   Internet market is different from physical market, it is virtual market, products are here intangible, the success is depends upon experience of the customers. Even all Ps acts at the same place i.e. at Web Page of the company. We can say everything availabl
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Company-Supplier-Vendor relationship

Vendors and suppliers are very important for any business. This service provides a safe hand to build awareness and delivery of product or services to the customers and do add value to the business. All business should maintain good relationship with vendor and supplier and in long run without mutual benefit it never works. So, mutual benefit is necessary for building strong relationship. In this competitive scenario this becomes vital. The foundation of good relationship depends upon Respect, Trust, Mutual benefits and Fairness from both sides. There are many facts in a vendor and supplier relationship to getting the perfect deal. The facts are; What is in it for me, What is in it for our relationship for long run, What do matters to my business, Can they deliver at promised time or within time interval.

Marketing Myopia

Marketing Myopia   Marketing Myopia is short sightedness or narrow ness of a company to define its business. It may be of product oriented or customer oriented.     Product orientation – Company defines itself as a product producer of quality of product at low cost. (Product concept-an old marketing concept)   Customer orientation- Company define itself as a satisfier of customer needs and wants (Modern Marketing concept).   Both concepts are good, holds good at a certain level but beyond that leads Myopia. Because Marketers do think we are doing good and getting profit, but they don’t consider “what will be the future of competition”.     Managers prefer to work in same industry in which they were recruited first; even companies  prefer Managers from same sector in which they are dealing. It is also a cause of leading Marketing Myopia. Human resource department should recruit Managers from different- different    industry, so that problems can be scrutinised and

Monthly Household Grocery Purchase shift from Kirana to Organised Retail Outlet

      A Few facts which affects Monthly (Bulk)shoping from Kirana Stores:- Attractive and appealing sales promotions influences switch over from kirana stores to organised retail outlets. The re is reduction in the monthly purchased value of the household items (grocery) from the conventional kirana stores due to the one stop shopping at the organized retail outlet.  Pleasure in buying experience at organised retail outlets plays an important role in the reduction of the monthly purchase of household grocery (functional products in daily use) from the conventional Kirana stores.  There is reduction in the monthly purchase value of the household items (grocery) from the conventional kirana stores due to the emergence of organised retail sector.  The availability of the multiple brands at the organized retail outlet plays a major role in the reduction in the purchase value of the grocery from the conventional Kirana stores.  The radical change in lifestyle is stimul

Relationship Marketing

Relationship Marketing   Studies of the marketing processes employed by both industrial and service firms seeking to optimize market performance have culminated in the emergence of a new school of thought, collectively known as “Relationship Marketing”.                                                                                                                                  (Chaston, 2000) The primary focus of relationship marketing is towards building closer relationship with customers as a strategy to overcome problems such as acquiring global competitive advantage, coping with rapidly changing technologies and reducing ‘time-to-market’ of new products.                                                                                                                 (Webster, 1992)   RM (Relationship Marketing) consist of different dimensions ranging from tangible (monetary) to intangible (psychological) rewards awarded to consumer with the aim of motivating them t

"Q" Score

"Q" Score:- Developed in 1963 by Marketing Evaluation Inc., an American company Q score is influenced by both people’s familiarity with the subject and their favourability towards it. It is widely used for selecting the right celebrity endorser for brand advertisement. The Q score answers the question “how appealing is the person among those who know him or her?” First the respondents are asked to indicate two things- whether they seen or heard about the selected celebrity? Secondly, if yes , then   the respondents are asked to rate the celebrities on a scale that includes-   One of my favourites, 2. Very good, 3. Good, 4. Fair, 5. Poor,                6.       Never heard.         Then after marketing companies suggest celebrity name to companies for brand  advertisement.  

Variables which determine Corporate social responsibility(CSR) of individuals

                      CSR:-   ·         The philosophy of Corporate Social Responsibility (CSR) is based on -- “Organizations should think beyond profit and wealth maximization”.   ·           CSR activities are an integral part of Business strategy for long term business growth.   ·         CSR practices in business differ from organization to organization.   ·         Corporate performance is not only judged by financial metrics, but also by social and environmental measures.                                        · The individual psychological variables may play an important role in influencing the individual’s attitudes towards CSR (Schlenker and Forsyth, 1977).   ·         CSR in business is more driven by the personal beliefs and values of the people running the business (Vyakarnam et al.1997, Jenkins 2004)                        CSR variables:-   ·         Individuals with high Machiavellianism employ aggressive, manipulative, exploitative a