b.v.raghunandan-marketing concepts
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Poornaprajna Institute of Management, Udupi
August 19, 2008
Concepts do not Change The Circumstances in which the
Concepts are applied will Change Basic Concepts of an Entrepreneur get
Modified from Time to Time A Highly Successful Companies try all
the Concepts
Basic Approach to the Consumers Conditions of the Market Product Nature Racial Qualities Religious Beliefs Personal Qualities of the Entrepreneur Reaction to the Market Exploitation of the market
Short Term Profit Life Time Consumers Nature of Risk Taking Believing in the Ignorance of Consumers Belief that Good Product sells by Itself Putting Morals Above business and
profit Easier Selling Efforts
Monopoly: legal or natural Created Monopoly Branded Monopoly Competition Market becoming Homogenous Consumer becoming complex Unpredictability of Consumer Behaviour
Insurance Products Booking for Graveyards Vacuum Cleaners Water Purifiers Encyclopedias
Mongolian Race: Techno-Savvy, Amoral in Business Practices (Beg,
Borrow or Steal), Product innovation, Firm Belief in Product Concept; Business is War
Caucasian Race: Risk-taking, Brand Building, Advertising, and Belief in Marketing Concept; Business is Gambling
Parsi Community’s Belief in Product Concept
Approaches of Tata Group and Godrej Group
Microsoft Apple Computers IBM Computers Reliance Group Amul
Protecting Market Share Gaining Shelf Space Shooting in the Air Competition Diversification, Dithering, Consolidation,
Restructuring ………..Total surrender to the Market
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