Download BASIC MARKETING CONCEPTS There are numerous marketing

BASIC MARKETING CONCEPTS
There are numerous marketing concepts which are used by marketers as a reference in the
marketing field. Some of these marketing concepts exist to date whereas some others are
outdated and have been taken over by other marketing concepts.
These marketing concepts form the basics of the marketing management field and they need to
be known by each and every future marketer. Let us go deeper in the marketing concepts and
understand each one of them.
Initially the first three concepts introduced in the marketing world were the production concept,
the product concept and the selling concept. These marketing concepts were very useful during
the industrial era where the concentration was on manufacturing and not much on services or
marketing. These concepts are as follows.
Production Concept – The production concept concerned itself mainly with manufacturing,
production and efficiency issues.
Product concept – The product concept proposes that customers will prefer a product which has
better features, performance and quality as compared to a normal product.
Selling concept – The selling concept proposes that individuals or businesses are more likely to
buy the product when they are pushed to act. Thus came the formation of the famous sales
department which is till date involved in push strategy of selling products to customers.
However, as marketing increased in importance, there were further concepts introduced which
strongly took the customer in perspective. These concepts were the Marketing concept and the
Holistic marketing concept. These marketing concepts were developed when the service
industries started rising strongly.
Marketing concept – The marketing concept states that when a product has a value, the customer
is likely to buy the product himself because of the needs wants and demands of the customer.
Holistic marketing concept – The holistic marketing concept states that marketing is not a
responsibility of only the market department, rather marketing should be carried out at all
customer points and wherever customer comes in contact with the company.
Finally, after the customer concepts came the societal marketing concept which promoted the
welfare of complete society. This concept is strongly followed by family owned corporations like
Tata and Godrej.
Societal marketing concept – The societal marketing concept believes in giving back to the
society by giving better products for social causes.
Besides the above traditional concepts of marketing, there are also others which have been
developed over time and are very important to the core of marketing management. Without these
concepts, a marketing strategy cannot be developed and therefore marketing cannot work at its
maximum efficiency. The remaining marketing concepts which have been developed over time
are :
Marketing Mix
The Marketing mix is a set of four decisions which needs to be taken before launching any new
product. These variables are also known as the 4 Ps of marketing. These four variables help the
firm in making strategic decisions necessary for the smooth running of any product /
organization. These variables are : a) Product b) Price c) Place and d) Promotions
Marketing mix is mainly of two types.
1) Product marketing mix – Comprised of Product, price, place and promotions. This marketing
mix is mainly used in case of tangible goods.
2) Service marketing mix – This mix has three further variables included, which are people,
physical evidence and process.
The term marketing mix was first coined by Neil H Borden back in 1964 in his article “The
concept of marketing mix”. Several strategic analysts over the years believe that the marketing
mix can make or break the firm. Having the right marketing mix at the start of the marketing
plan is absolutely essential. Over time the concept of marketing mix has provided a steady
platform for the launch of a new product or business.
Service marketing Mix
The service marketing mix is also known as an extended marketing mix and is an integral part of
a service blueprint design. The service marketing mix consists of 7 Ps as compared to the 4 Ps of
a product marketing mix. Simply said, the service marketing mix assumes the service as a
product itself. However it adds 3 more Ps which are required for optimum service delivery. The
extended service marketing mix places 3 further Ps which include People, Process and Physical
evidence. All of these factors are necessary for optimum service delivery.
Alternate marketing mix – 4 C’s of marketing
The traditional Marketing mix is a 4 Ps model and is business oriented. The 4 Cs model of
marketing on the other hand is more consumer oriented. Because of its focus on consumers, the 4
Cs model is mainly used for Niche Marketing. However, just like the traditional marketing mix,
it can also be used for mass markets. The four variables in the 4 Cs model are : a) Consumer b)
Cost c) Convenience and d) Communication.
Internal marketing
It is the need of the hour. With customers becoming very choosy for the type of products that
they buy, customer experience with the company needs to be beyond expectations. This is where
internal marketing plays an important role. Internal marketing happens when the company treats
its employees as internal customers, and accordingly, each department works in tandem with the
other to give products and results which are best for the company as well as for the customer.
Internal marketing ensures that all employees are working towards a common cause which is
customer satisfaction
Relationship Marketing
Due to the rise in the number of competitors as well as the buying options in front of consumers,
relationship marketing has been on the rise. Relationship marketing involves making strong and
deep relationship with the consumers (whether they be individuals or organizations), such that
the consumer does not shift a brand and has a long term and satisfying relationship with the
brand. Relationship marketing need not be used only with the end customers. The stakeholders
are equally important. That is why one of the key goals of marketing activities today is to build
strong relationships with customers and stakeholders. Thus in all, the various entities involved in
relationship marketing are : a) Customers b) Employees c) Channel partners (Distributors,
suppliers etc) and d) Financial partners (Shareholders, investors etc). A firm needs to build a
strong relationship with all these entities to be in the front.
Integrated Marketing
Where integrated marketing communications focuses on the communication and promotions
aspects, integrated marketing in turn focuses on the marketing mix of products viz – product,
price, place and promotions. The idea behind integrated marketing is that you can customize the
offering to a customer based on the segment you are targeting and thereby target various
segments individually by making a change in the marketing mix. The integrated marketing
concept can be explained best with reference to the marketing mix. According to integrated
marketing concept, all the variables of marketing mix are dynamic in nature. If you change the
product and the price, place and promotions will change. Thus, if you change one variable, the
other three will change automatically.
Source : http://www.marketing91.com/marketing-concepts/
THE 10 MOST IMPORTANT LESSONS NEW MANAGERS SHOULD LEARN
As most know, becoming a new manager can be a simultaneously exhilarating and nervewracking experience. This is the case for many reasons, including the fact that such positions
entail a lot of authority and responsibility. Despite the challenges and frustrations that one might
experience upon getting acclimated to a new position as manager, there are several lessons thatwhen learned-can help a new manager operate with confidence and ease. Here are ten principles
new managers should consider carefully:
1. YOU NEED OTHER PEOPLE
One of the greatest challenges that a new manager can have is making the transition from
managing the self to managing other people. When this shift transpires, the new manager should
keep in mind that accomplishing important tasks will no longer be an endeavor that happens
through individual effort. Because this is the case, the new manager should cultivate the
interpersonal and leadership skills necessary to successfully interact with other people.
2. YOU CANNOT AVOID TOUGH CONVERSATIONS
While consciously refusing to have conversations about important issues in your personal life
can be problematic, opting for this route in your professional life can be disastrous. Although
there can be a plethora of problems that warrant discussion, an example of such an issue would
be addressing substandard performance on an important assignment. When a new manager
refuses to have conversations about potentially embarrassing subjects such as this, employees are
likely to forego excellence in the name of expediency or simply misunderstand what is required
of them. For this reason, continually communicating with one’s team will be integral to a new
manager’s success.
3. YOU MUST UNDERSTAND YOUR COMPANY’S POLICIES
Oftentimes, a new manager is hired because of their education and/or experience within a certain
field. Despite this abstract and concrete knowledge, however, new managers often find that they
don’t understand basic, important dynamics of the new company they will work for. One such
basic dynamic is a company’s policies. It is critically important that new managers take the time
to familiarize themselves with these policies, because they oftentimes play a very integral role in
the daily operations of the company. Moreover, employees who have been with the company for
extended periods of time often question the authority and competence of new hires who are not
yet familiar with the ins and outs of the organization. Demonstrating knowledge of a company’s
policies is a great way for the new managers to show preexisting employees their willingness to
learn new things and conform to the company’s culture.
4. YOU NEED TRAINING.
Despite the fact that new managers are often hired because of an excellent skill set or reputation
for doing things with excellence and expedience, there will still be many unique aspects of the
new company that they will have to learn about in order to have success. Demonstrating a
willingness to learn is important given that a teachable attitude shows your team that you are
interested in knowledgeable authority rather than being arrogant or presumptuous in the position
that you hold.
5. LEADERSHIP IS NOT A POSITION, BUT AN ATTITUDE
This is one of the most important principles that a new manager should learn. Clearly, being a
manager is a leadership position which will entail providing other team members with guidance
and instruction regarding how to properly complete a task or project. Despite the fact that being a
manager indicates that the person holding the title possesses authority, however, the emphasis
should not be placed on the position itself. Rather, emphasis should be placed on the type of
attitude-and resulting actions-that come along with holding the position. Specifically, an
individual who occupies a position of leadership should focus on cultivating and using a wide
range of leadership skills that will entail both personal success as well as the greater good of the
company.
6. CHARACTER COUNTS
Oftentimes, individuals who occupy positions of authority feel that they do not have to embody
and actualize the type of character traits that many of us associate with being a good moral agent.
Nevertheless, character counts as much for leaders as it does for those who follow them. This is
the case for many reasons, including the fact that a leader-such as a new manager-has the power
to set the moral tone of the company she or he works for. In addition to this, poor character that
is revealed can translate into earning the company a bad reputation or the loss of the management
position. Cultivating character-in the form of things like discipline, patience, persistence,
honesty, diligence, authenticity, stability, and vigilance-can be an integral success component for
the new manager.
7. ACCOUNTABILITY IS EVERYTHING
The importance of accountability in the world of business cannot be overemphasized, and it is
especially important for the new manager. Although broadly defined, accountability is
essentially a process of continual interaction between two or more persons that is established and
sustained for the purpose of ensuring that at least one party involved is responsible to another for
attitudes and actions. Accountability functions in a wide variety of ways, and almost all of them
are positive. First, accountability often quells the individual’s will to perform an unethical or
inappropriate behavior because the risk of remonstrance-in the form of demotion, job loss, or
some other repercussion-greatly diminishes the desire to say or do something dishonest or
unscrupulous. In addition to this, accountability gives the new manager an opportunity to
continually dialogue with another person about actions and attitudes that are proving either
advantageous or disadvantageous for self and other. Thus by meeting with an accountability
partner, the new manager has continual opportunities for personal and professional growth.
8. MAXIMIZE COMMON COURTESY PRINCIPLES
This strategy is especially important for new managers. During the infancy stages of leadership,
a new manager’s team will often carefully analyze her or his behavior to determine whether they
intend to simply boss everyone around or want to foster positive, functional relationships with
others. One way for team members to make such assessments is to carefully analyze how the
new manager interacts with others. Omitting acts of “common courtesy”-such as saying thank
you or offering others a breath mint after a meal-can be a red flag for employees who are
attempting to determine whether a new manager wants to be part of a team or simply act in
dictatorial fashion. A great manager will opt for the former modality, and will maximize
common courtesy principles to make their leadership style known to others.
9. TEACH OTHERS
Great managers are not intimidated by the concept of others acquiring their skill set. Instead,
they want people beneath them to expand their skill set for their own personal growth as well as
the further development of the company as a composite entity. New managers should tap into
this principle and willingly teach others such that the negative aspects of having a competitive
spirit do not dominate the view others have of them.
10. TAKE CONSTRUCTIVE CRITICISM SERIOUSLY
Unfortunately, people often criticize others for the purpose of ridiculing or irritating them.
Despite this fact, however, much of the criticism we receive is constructive, meaning that it is
designed to improve the actions and attitudes of the receiver. Since this is the case, managers-and
especially new managers-should take constructive criticism seriously rather than brushing it off.
In short, constructive criticism provides the new manager with a clear understanding of areas
where improvements can be made to benefit both self and other.
While new managers can experience a great degree of frustration or anxiety regarding their new
position, implementing the aforementioned strategies can help facilitate the type of success that
eradicates self-doubt and irritation. By learning important lessons regarding how to properly
manage self and others early on, new managers are likely to experience a great degree of
positivity and productivity in the workplace.
Source : http://www.bizbrain.org/the-10-most-important-lessons-new-managers-should-learn/
HANDLING INTERVIEWS
Even the smartest and most qualified job seekers need to prepare for job interviews. Interviewing
is a learned skill, and there are no second chances to make a great first impression. So master the
below 10 strategies to enhance your interview skills.
Practice Good Nonverbal Communication
It is about demonstrating confidence: standing straight, making eye contact and connecting with
a good, firm handshake. That first nonverbal impression can be a great beginning -- or quick
ending -- to your interview.
Dress for the Job or Company
Today's casual dress codes do not give you permission to dress as "they" do when you interview.
It is important to look professional and well-groomed. Whether you wear a suit or something less
formal depends on the company culture and the position you are seeking. If possible, call to find
out about the company dress code before the interview.
Listen
From the very beginning of the interview, your interviewer is giving you information, either
directly or indirectly. If you are not hearing it, you are missing a major opportunity. Good
communication skills include listening and letting the person know you heard what was said.
Observe your interviewer, and match that style and pace.
Don't Talk Too Much
Telling the interviewer more than he needs to know could be a fatal mistake. When you have not
prepared ahead of time, you may ramble when answering interview questions, sometimes talking
yourself right out of the job. Prepare for the interview by reading through the job posting,
matching your skills with the position's requirements and relating only that information.
Don't Be Too Familiar
The interview is a professional meeting to talk business. This is not about making a new friend.
Your level of familiarity should mimic the interviewer's demeanor. It is important to bring
energy and enthusiasm to the interview and to ask questions, but do not overstep your place as a
candidate looking for a job.
Use Appropriate Language
It is a given that you should use professional language during the interview. Be aware of any
inappropriate slang words or references to age, race, religion, politics or sexual orientation -these topics could send you out the door very quickly.
Don't Be Overconfident
Attitude plays a key role in your interview success. There is a fine balance between confidence,
professionalism and modesty. Even if you're putting on a performance to demonstrate your
ability, overconfidence is as bad, if not worse, as being too reserved.
Take Care to Answer the Questions
When an interviewer asks for an example of a time when you did something, he is seeking a
sample of your past behavior. If you fail to relate a specific example, you not only don't answer
the question, but you also miss an opportunity to prove your ability and talk about your skills.
Ask Questions
When asked if they have any questions, most candidates answer, "No." Wrong answer. Part of
knowing how to interview is being ready to ask questions to demonstrate an interest in what goes
on in the company. Asking questions also gives you the opportunity to find out if this is the right
place for you. The best questions come from listening to what you're asked during the interview
and asking for additional information.
Don't Appear Desperate
When you interview with the "please, please hire me" approach, you appear desperate and less
confident. Maintain the three Cs during the interview: cool, calm and confident. You know you
can do the job; make sure the interviewer believes you can, too.
Source : http://www.monster.ca/career-advice/article/interview-performance-tips-canada
BASIC CONCEPTS OF OB
The concept of OB is based on two key elements namely −
 Nature of people
 Nature of the organization
Nature of People
In simple words, nature of people is the basic qualities of a person, or the character that
personifies an individual they can be similar or unique. Talking at the organizational level, some
major factors affecting the nature of people have been highlighted. They are –
Individual Difference − It is the managerial approach towards each employee individually, that is
one-on-one approach and not the statistical approach, that is, avoidance of single rule. Example−
Manager should not be biased towards any particular employee rather should treat them equally
and try not to judge anyone on any other factor apart from their work.
Perception − It is a unique ability to observe, listen and conclude something. It is believing in our
senses. In short, the way we interpret things and have our point of view is our perception.
Example − Aman thinks late night parties spoil youth while Anamika thinks late night parties are
a way of making new friends. Here we see both Aman and Anamika have different perception
about the same thing.
A Whole Person − As we all know that a person’s skill or brain cannot be employed we have to
employee a whole person. Skill comes from background and knowledge. Our personal life
cannot be totally separated from our work life, just like emotional conditions are not separable
from physical conditions. So, people function is the functioning of a total human being not a
specific feature of human being.
Motivated Behavior − It is the behavior implanted or caused by some motivation from some
person, group or even a situation. In an organization, we can see two different types of motivated
employees −
 Positive motivation − Encouraging others to change their behavior or say complete a task
by luring them with promotions or any other profits. Example − “If you complete this,
you will gain this.”
 Negative motivation − Forcing or warning others to change their behavior else there can
be serious consequences. Example − “If you don’t complete this, you will be deprived
from the office.”
Value of Person − Employees want to be valued and appreciated for their skills and abilities
followed by opportunities which help them develop themselves.
Nature of Organization
Nature of organization states the motive of the firm. It is the opportunities it provides in the
global market. It also defines the employees’ standard; in short, it defines the character of the
company by acting as a mirror reflection of the company. We can understand the nature of any
firm with its social system, the mutual interest it shares and the work ethics.
Let us take a quick look at all these factors −
Social System − Every organization socializes with other firms, their customers, or simply the
outer world, and all of its employees - their own social roles and status. Their behavior is mainly
influenced by their group as well as individual drives. Social system are of two types namely −
 Formal − Groups formed by people working together in a firm or people that belong to
the same club is considered as formal social system. Example − A success party after
getting a project.
 Informal − A group of friends, people socializing with others freely, enjoying, partying or
chilling. Example − Birthday party.
Mutual Interest − Every organization needs people and people need organizations to survive and
prosper. Basically it is a mutual understanding between the organization and the employees that
helps both reach their respective objectives. Example − We deposit our money in the bank, in
return the bank gives us loan, interest, etc.
Ethics − They are the moral principles of an individual, group, and organization. In order to
attract and keep valuable employees, ethical treatment is necessary and some moral standards
need to be set. In fact, companies are now establishing code of ethics training reward for notable
ethical behavior
Source :
http://www.tutorialspoint.com/organizational_behavior/organizational_behavior_concepts.htm