"Marketing management is the process of ascertaining consumer needs, converting them into products or services and moving the product or services to the final consumers or users to satisfy needs and wants with emphasis on profitability ensuring the optimum use of the resources available to the organisation." - According to Davar’s Marketing management is one of the important operative functions [...]
Some of the most important functions of marketing management are :- 1. Planning 2. Organizing 3. Coordinating 4. Staffing 5. Directing 6. Evaluating 7. Controlling. Function - 1. Planning: This requires the description of the formal approach and processes. At this stage, an overview is made of the total integrated system of short and long-term planning in the firm and [...]
Prof. Copeland gives a following classification of ‘Goods’: 1. Consumer Goods: Consumer goods of different classes are discussed below: 1. Convenience Goods: Convenience Goods, usually of semi-durable nature, refer to those comparatively high value items which the customers buy after paying consideration as to quality, price, design, etc. The buying motives of the customers exhibit a high degree of differentiation [...]