ADVERTISING AND SALE MANAGEMENT
INTRODUCTION (ADVERTISING)
The consumer is the central
point of every business. Nowadays, attracting and satisfying customers is more
difficult than producing goods. Advertising is an important means to
influence potential customers.
MEANING OF ADVERTISING
The term advertising is
derived from the Latin word “advertere” which means to turn attention towards a
specific thing. The dictionary meaning of the word advertising is to give a public notice.
Thus the advertisement is
paid form of non-personal communication with the target audience through mass media such as TV, newspapers, magazines, mobile phone, the internet, radio, outdoor
display, etc.,
DEFINITION OF
ADVERTISING
According to American
Marketing Association, “Advertising is paid form of non-personal presentation
and promotion of goods, services or ideas by an identified sponsor.”
According to Philip
Kotler,“ Advertising is a non-personal form of communication conducted through
paid media under clear sponsorship.”
Marketing Management
MARKET SEGMENTATION
Introduction
Markets consist of buyers who differ in one or more
respects. They may differ in their wants, resources, geographical locations, attitudes, and buying practices. It is, therefore, necessary for a marketer to segment his/her
market.
Meaning of Market Segmentation
The process of grouping
customers in markets with some heterogeneity into smaller, more similar, or
homogeneous segments. The identification of target customer groups and
customer groups in which customers are aggregated into groups with similar requirements
and buying characteristics.
Benefits of Market Segmentation
Products are designed
to be responsive to the needs of the marketplace. – segmenting markets
facilitates a better understanding of customers’ needs, wants, and other characteristics.
Increase profits –
different consumer segments react in contrasting ways to prices, some are far
less price-sensitive than others. Segmentation allows an organization to gain
from the best price it can in every segment, effectively raising the average
price and increasing profitability.
Effective Resource
Allocation - organizations are more capable of making products that customers
want and can afford.
There is product
differentiation – Various products are made to meet the needs of each customer
segment.
Market Targeting
This is the evaluation
of the various segments identified during segmentation and deciding how many
and which ones to serve.
Evaluating The Market
Segments
1) Segment size and
growth marketing segment has to be ‘right size’. Size can be measured in terms
of sales volume. Companies should not only concentrate on sales volume but also
on the growth potential of the segment.
2) Segments structural
attractiveness – Using Porter’s Five Forces Analysis. Michael Porter has
identified five forces that determine the intensive long-run attractiveness of
the whole market or any other segment within it.
Market Positioning
Positioning is the
process of establishing and maintaining a distinctive place in the market for
the organization’s product or brands. Positioning starts with the product, but
positioning is not what you do to a product.
Positioning is what you
do to the mind of the customer.
A difference is worth
establishing to the extent that it satisfies the following criteria.
1) Important: -
The difference delivers a highly valued benefit to a sufficient number of
buyers.
2) Distinctive:-
The difference is delivered in a distinctive (Special Unique) way.
3) Superior:
The difference is superior to other ways of obtaining the benefit.
4) Pre-emptive:
The difference cannot be easily copied by competitors.
5) Affordable -
The buyer can afford to pay for the difference.
6) Profitable -
The Company will find it profitable to introduce the difference.
Product – Mix
PRODUCT
A product is anything that can be offered to
the market that satisfies customers’ needs and wants.
A product is both what the seller has to sell and what the buyer has to buy.
It means goods and
services that a combination of companies offers to the target market.
A product is anything
that can be offered to the market to satisfy a want or need.
A product that is
marketed includes physical goods, services, experiences, events, persons, places,
properties, organizations, Information, and ideas.
• While formulating
the marketing strategy, product decisions include:
What to offer?
Brand name
Packaging
Quality
Appearance
Functionality,
Accessories, Installation, After-sales service, Warranty.
Communication Principles of Communication & Types of Retail Formats in India
Introduction
•
Communication is
an integral part of the retailer's marketing strategy. Communication is used to
inform the customers about the retailers, merchandise, and services.
•
Communication is certainly essential in
business, in government, military organizations, hospitals, schools,
communities, homes, or anywhere where people deal with one another.
Meaning of Communication
Communication is the process of
transforming information, thoughts, opinion, messages, facts, ideas, and
understanding from one person, the place to another person, place.
Communication Cycle
Principles of Communication
- There are 7 C’s of effective communication
which are applicable to both written as well as oral (मौखिक) communication.
1.
Completeness (संपूर्णता) - The communication must be complete. It
should convey all facts required by the receiver.
2.
Conciseness (संक्षिप्ति) - Conciseness or shortness means
that minimum words without forgoing the other C’s of communication should be
used to communicate.
· It is time-saving as well as
cost-saving.
· It underlines the main message
· It is more appealing to the
receiver.
3.
Consideration (विचार) - Consideration implies that the audience's viewpoints, background, mindset, education level, specific requirements,
emotions, etc. should be considered while communicating with them.
4.
Clarity(स्पष्टता) - Clarity implies emphasizing a
specific message or goal at a time, rather than trying to achieve too much at
once. Clarity ensures that communication is simple and intelligible.
5. Concreteness(specific, definite, स्थूलता) - Concrete communication implies being particular than general.
It is supported by specific facts and figures.
- · It makes use of words that are clear and
that build the reputation.
6.
Courtesy(नम्रता ) - Courtesy in a message implies that the message should
show the sender’s expression as well as respect the receiver. The courteous message
has the following features:
· It uses the terms and feelings of
the receiver of the message.
· It is positive and focused on
the audience.
· It is not biased.
7. Correctness (सुधार)- Correctness in communication implies that there are no grammatical errors in the communication. Correct communication has the following features:
· The message is exact, correct, and well-timed.
· It makes use of appropriate and correct language in the message.
Types of Retail Formats in India
Types of Retail Outlets
Retailing refers to a process where the retailer sells the goods directly
to the end-user for his own consumption in small quantities.
Types of Retail outlets
1. Department Stores
A department store is a set-up that offers a wide range of products to the
end-users under one roof. In a department store, the consumers can get almost
all the products they aspire to shop at in one place only.
Merchandise:
Electronic Appliances Jewellery
Toiletries
Cosmetics
Footwear
Sportswear
Toys
Books
CDs, DVDs
Examples - Shoppers Stop,
Pantaloon.
2. Discount Stores
•
Discount stores also offer a huge range of products to the end-users but at
a discounted rate. The discount stores generally offer a limited range and the
quality in certain cases might be a little inferior as compared to the
department stores.
•
Wal-Mart currently operates more than 1300 discount stores in the United
States. In India, Vishal Mega Mart comes under discount stores.
•
Merchandise:
Almost the same as a department store but at a cheaper price.
3. Supermarket
•
A retail store which generally sells food products and household items,
properly placed and arranged in specific departments is called a supermarket. A
supermarket is an advanced form of a small grocery store and caters to the
household needs of the consumer.
•
Merchandise:
Bakery products
Cereals
Meat Products,
Fish products
Bread Medicines
Vegetables
Soft drinks
Fruits
4. Warehouse Stores
•
A retail format that sells limited stock in bulk at a discounted rate is
called a warehouse store. Warehouse stores do not bother much about the
interiors of the store and the products are not properly displayed.
5. Mom and Pop Store (also
called Kirana Store in India)
•
Mom and Pop stores are small stores run by individuals in the nearby
locality to cater to the daily needs of the consumers staying in the vicinity. They
offer selected items and are not at all organized.
•
Merchandise:
Eggs Bread
Stationery Toys
Cigarettes Medicines
6. Speciality Stores
•
As the name suggests, a Speciality store would specialize in a particular
product and would not sell anything else apart from the specific range.
Specialty stores sell only selective items of one particular brand to the
consumers and primarily focus on high customer satisfaction.
•
Example -You will find only Reebok merchandise at the Reebok store and nothing
else, thus making it a specialty store. You can never find Adidas shoes at a
Reebok outlet.
7. Malls
•
Many retail stores operate in one place from a mall. A mall would consist
of several retail outlets each selling its own merchandise but on a common
platform.
8. E -Tailers
• Nowadays the customers have the option of shopping while sitting at their
homes. They can place their order through the internet, and pay with the help of debit
or credit cards and the products are delivered to their homes only. However,
there are chances that the products ordered might not reach in the same
condition as they were ordered. Example - eBay, Rediff Shopping, Amazon
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Retail Management
Introduction of Retailing
Retail occupies an important place in the world
economy. The retail industry is of the fastest-changing and vibrant industries in
the world Retail has contributed to the economic growth of many countries.
Retail does not include only goods but also services, which may be provided to the
end consumer.
What is Retail Management?
Management refers to the process of bringing people
together on a platform and making them work as a single unit to achieve the
goal and objective of an organization. Retail Management is an art that
requires a number of management tools for complete end-user satisfaction.
Factors Affecting Retail Management
1.
Social
2.
Political
3.
Economic
4.
Legal
5.
Technological
Definition
of Retailing
Retailers
are the final business entities in a distribution channel that links manufacturers
to customers.
— According to Philip Kotler, “Retailing includes all the activities involved in
selling goods or services to the final consumers for personal, non-business
use. A retailer or retail store is any business enterprise whose sale volume
comes primarily from retailing. Any organization selling to final consumers
whether it is a manufacturer, wholesaler, or retailer is doing retailing. It
does not matter how the goods or services are sold(by person, mail, telephone,
internet, on the street or in the consumer’s home)”.
— Michael Levy and Weights, “It is set of business activities which add value to the products and
services sold to the consumer for the person of family use”.
Characteristics
of Retailing
q Direct sales to the consumer
q Sales in small quantities
q Locational advantages
q Consumers preferences
q Business service
q Large number of retail shops
q
Emerging trends in Retailing
— Retailers are changing business formats store designs,
models of communication with customers, and ways of handling commercial
dealing.
- Modern retailers are adopting new technology for
marketing retail operations, and business transitions.
- Forward-thinking is using social media to
communicate with consumers.
- Retailers are working progressively a deliver orders that customers placed through online shopping.
- In those places where the internet is still not
accessible retailers are exploiting the power of mobile phones to
advertise their products.
Types of Retail
Formats in India
Types of Retail
Outlets
— Retailing refers to a process where the retailer sells
the goods directly to the end-user for his own consumption in small quantities.
Types of Retail
outlets
Department
Stores
— A department store is a set-up that offers a wide range
of products to the end-users under one roof. In a department store, the
consumers can get almost all the products they aspire to shop for in one place
only.
— Merchandise:
Electronic Appliances
Jewellery
Toiletries
Cosmetics
Footwear
Sportswear
Toys
Books
CDs, DVDs
— Examples - Shoppers Stop, Pantaloon.
— Discount Stores
— Discount stores also offer a huge range of products to
the end-users but at a discounted rate. The discount stores generally offer a
limited range and the quality in certain cases might be a little inferior as
compared to the department stores.
— Wal-Mart currently operates more than 1300 discount
stores in the United States. In India, Vishal Mega Mart comes under discount stores.
— Merchandise:
Almost the same as a department store but at a cheaper price.
Classification
of Retail Formats
— Retail Formats can be classified into the following
categories:
— Store-Based: Store-based formats can be further classified into two formats based on
the basis of Ownership or Merchandise offered.
— Non-Store Based Classification: Non-Store retail organizations focus on establishing
direct contact with the consumer. This may be both personal (direct personal
selling) and nonpersonal TV, the Internet, mail, catalog, or phone).
— Service-Based Classification: Such retailers specialize in providing different
kinds of services to the end consumer. The services can be classified as
Banking Services, Rentals, Electricity, cooking gas, etc. Various factors like
quality of service, how much customization can be provided for meeting the
client-specific requirements, the uniqueness of the service and delivery within
the timelines, usage of innovative technology, etc, are given importance for
determining the success of service.
Store Layout and
Design
Store Layout
Formats
Store Design
RETAIL MIX
Retail Floor
Space
SALES PROMOTION
TOOLS
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Electronic Appliances Jewellery
Toiletries Cosmetics
Footwear Sportswear
Toys Books
CDs, DVDs
Almost the same as a department store but at a cheaper price.
PARTS OF SPEECH
PARTS OF SPEECH
NOUN
- A word that names a
person, a place, a thing, or an idea. Proper nouns name a particular person, place,
thing, or idea and begin with a capital letter. (United States, June, and Lowes)Common
nouns do not name a particular person, place, or thing and do not need capitalization.
(country, month, and school).
PRONOUNS
- A word used instead
of a noun. It is a substitute for a noun.
VERB
The main word in the
predicate of a sentence expresses action or being.
PREPOSITION
- A word that shows the
relationship between a noun and some other word in the sentence.
ADJECTIVE
- A word that describes or modifies a noun or
pronoun.
ADVERB
-
A word that describes or modifies a verb, adjective, or another adverb.
Adverbs
that modify verbs answer:
How?
(slowly)
Where?
(outside)
When?
(later)Or
To
what extent? (thoroughly)
INTERJECTION
- A word or words that show feeling. If it stands
alone, it is followed by an exclamation point. (Hey!)
CONJUNCTION
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Group Dynamics
Group
Dynamics
What
is a Group?
A
group is defined as two or more individuals interacting and interdependent, who
have come together to achieve particular objectives.
Characteristics
of a Group
The
necessary characteristics of a group are:
Two
or more people
Who
interact with one another, (The members of a group occasionally meet, talk, and
do things together.)
Share
some common ideology, and (The member of a group have something in common like
common goals, common threats, security concerns, etc.)
See
themselves as a group. (People who interact with each other and who have a
common ideology are attracted to one another.)
Group
Dynamics
Group
dynamics refers to the attitudinal and behavioral characteristics of a group.
Group
dynamics concern how groups form, their structure and process, and how they function.
Group
dynamics are relevant in both formal and informal groups of all types.
Stages
of Group Development
The
model of group development was first proposed by Bruce Tuckman in 1965.
The
Five-Stage Model of Group Development Consists of the following stages:
Forming
Stage
Storming
Stage
Norming
Stage
Performing
Stage
Adjourning
Stage
Types
of Groups
· FORMAL GROUP
· INFORMAL GROUP
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TALKING BAD HABITS
TALKING BAD
HABITS
Body Related Habits
& Behavioral related Habits
BODY RELATED
HABITS
CRACKING OF
KNUCKLES
PICKING OF NOSE
TWIRLING OF HAIR
SLOUCHING
SHAKING HANDS
&LEGs
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Dowry System
Dowry
System
INTRODUCTION
Dowry
is a social evil in India. We daily read in newspapers and watch on T.V about
dowry deaths. Dowry spoils all pleasures of married life. It has taken a
fearful form
What
is the dowry system?
Dowry
means gifts given by the girl’s parents at the time of marriage. This is the
symbol of love and respect. It is the help of the girl so that she may set up
her home. But now time has changed. It has now become a social evil
Nature
of problem:-
Dowry
death number in the hundreds each year. The Indian government has passed so many
laws to stop the dowry system, yet the people have not changed. Marriage is not a private affair but a social program.
Causes
of dowry:-
Causes
of the dowry system are prevailing in India due for the following reasons:-
Due
to the inferior status of women
They
do not get a share in the property
Women
don’t have an independent source of income
Less
literacy rate of women
EFFECTS
OF DOWRY SYSTEM
HOW
TO ABOLISH IT?
LEGISLATIONS:-
CONCLUSION:-
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OPERATIONAL RESEARCH
Overview
(OR)
Operational
Research is the scientific study of operations for the purpose of making better
decisions.
History
of OR
Operational
Research has existed as a science since the 1930s.
DEFINITION
Study of operations for the purpose of making better decisions.”
Definition
by WHO (2003)
“The
use of systematic research techniques for program decision making to achieve a specific
outcome.”
OBJECTIVES
OF OPERATIONAL RESEARCH
SCOPE
OF OPERATIONAL RESEARCH
·
National
plans and budget
·
Health
care services and National Health Programs
·
Government
development and public sector unit
·
Industrial
establishment and private sector unit
·
National
defense services
·
Research
and development in engineering
·
Public
works department
·
Business
management
·
Agriculture
and irrigation projects
·
Education
and training
·
Transport
and communication
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Indian Festivals
Indian Festivals
Two
types of festivals in India
·
National
Festival
·
Religious
Festival
·
National
festivals are:
·
Independence
Day
·
Republic
Day
·
Gandhi
Jayanti
Independence
Day
It
is the most important day in the history of India.
We
independent on 15th august 1947
We
celebrated this day to make proud on our leaders.
Republic
day
It
is celebrated on 26th January 1950 every year on this day great praed in Rajpath
New Delhi.
Gandhi Jayanti
It
is celebrated on 2nd October every year. It marks the birthday of mahatma
Gandhiji. India got freedom under the leadership of Gandhi Ji. His full name is
Mohan Das Karamchand
Gandhi.
Deepavali
Deepavali
which means “row of light, lamps”. the festival is celebrated on the occasion
of Lord Rama and his wife Sita. king Rama return to Ayodhya after he defeated
Ravana.
Navratri/Dussehra
Navratri
also called navrathri. It is a night festival for Hindus. Celebrated every
year. It is celebrated for nine days. After the 10th day, we celebrate Dussehra. Dussehra
is also referred to as Vijayadashami. Ramlila is held everywhere. The burning of
huge effigies of Ravana, Meghnath, and Kumbhkaran.
Holi
Holi
is a Hindu spring festival originating from the Indian subcontinent, celebrated
in India and Nepal. It is also known as the festival of colors “ or the festival
of love.”
Maha Shivaratri
Maha
Shivaratri is a Hindu festival celebrated annually in honor of the god Shiva. There
is a Shivaratri in every lunisolar month of the Hindu calendar, on the month’s
13th night/14th day. Maha Shivaratri which means “the great of
Shiva”. In Kashmir Shaivism, the festival is called har-ratri.
Christmas
Christmas
is celebrated on 25th December every year all over the world. It is
the birthday of Jesus Christ. On Christmas evening people decorated Christmas
trees at home.
Raksha Bandhan
Raksha Bandhan is a festival celebrated mainly in northern Indian states. This festival is the chaste bond of love between a brother and sister.
Gudi
padwa
Gudi
padwa is a springtime festival that marks the traditional new year for Marathi
Hindus.
It
is celebrated on the first day of the Hindu month chetra.
It is celebrated on new year's day in Maharashtra.
Krishna
Janmashtami
Krishna
Janmashtami: It is the Hindu festival celebrating the birth of Krishna.
It
is celebrated in the month of July or August.
We
also called it Krishna Jayanthi.
Besakhi
Besakhi
welcomed the harvest season.
It
marks the day when the tenth guru of Sikhs Guru Gobind Singh.
The
best place to celebrate besakhi in India is Punjab.
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The effect of social networking
The
effect of social networking
Meaning: the use of dedicated websites and applications to interact with other users, or to find people with similar interests to one’s own.
Advantages
of social networking
Connectivity
Education
Help
Awareness
Disadvantages of social NETWORKING
1.
Lacks emotional connection
2.
Facilitates laziness
3.
Gives people a license to be hurtful
4. Diminishes understanding and thoughtfulness
The importance of using social networking
Learn
New Things
Networking
works
Sharpen your message
Positive effects
It
facilitates online learning
Access
to information
It
helps to gain wider knowledge
It helps to build a relationship
NEGATIVE EFFECTS
It
wastes time
IT
causes distraction
It
causes social problems
It
causes health problems
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Value of discipline
What
is the value of discipline?
Value of Disciplinemeaning >
The
word discipline is derived from the Latin word discipline which means teaching,
learning, and growing
Megginson
offers three distinct meanings of the word discipline :
Self
– discipline
The necessary condition for orderly behavior
Act
of training and punishing
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Mutual Funds In India
Mutual Funds In India
A mutual fund is a kind of investment that uses money from investors to invest in stocks, http://bonds, or other types of investment. A fund manager (or "portfolio manager") decides how to invest the money, and for this, he is paid a fee, which comes from the money in the fund.
Mutual funds are usually "open-ended", meaning that new investors can join the fund at any time. When this happens, new units, which are like shares, are given to the new investors.
There are thousands of different kinds of mutual funds, specializing in investing in different countries, different types of businesses, and different investment styles. There are even some funds that only invest in other funds.
Debt Mutual Funds will invest your money in debt instruments like Treasury bills, Government Bonds, etc. These investments ensure you a fixed rate of returns.
Balanced Mutual Funds will invest your money partially into equities and partially into debts. Investor prefers this sort of investment when they want to minimize the equity investment risk.
Sectorial Funds will invest your money as per your selected sector like IT, Banks, FMCG, Pharmacy, etc. Fund Managers control stock trading based on your selected sector's preferences. Returns on investments are based on stock performance belonging to a specific sector.
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Tips for a Positive Interviewing Experience! Human Resource Services
Tool Box for the Successful Job Search
Read the duties and the knowledge, skills, and abilities required of each position CAREFULLY before applying.
Assess the value of what you have to offer to each position and the organization. How does your experience apply to what is required for the job? Think deeply about yourself: How have you grown over time? How do you interact with others? What could you have done differently for better results? What motivates you?
Become familiar with the organization so you can demonstrate how and why you will be an effective employee. Ask the agency or company to send you material (brochure, job description, newsletter, etc.)
Be realistic! Know your qualifications and limitations. Wanting a job does not necessarily mean you’re qualified for it. Also, a job that pays well for duties you don’t like will not be rewarding in the long run.
Communication Tools
Applications & Resumes
Fully complete the state application without being too wordy. Resumes should be brief and to the point (1-2 pages). Both must be ERROR-FREE!
The application form is available on the Intranet in the HR Forms file. If you do not have a personal computer available to you, please complete the form NEATLY by hand, preferably typed.
Make sure all information is accurate and captures what you have done in each job.
Document your qualifications. NEVER assume anything.
The application DEADLINE date is exactly that. Plan ahead!
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