code 0046.. qstn 1.

WHAT IS MARKETING?
Marketing is defined as the process of determining the needs and wants of consumers and being able to deliver products that satisfy those needs and wants. Marketing includes all of the activities necessary to move a product from the producer to the consumer. Think of marketing as a bridge from the producer to the consumer. Marketing starts with market research, a learning process in which marketers get to know everything they can about the needs and wants of consumers, and it ends when somebody buys something. Many companies feel that services provided to customers after the purchase also are an important part of marketing. All of these enterprises -- production, advertising, transportation, processing, packaging, and selling -- are included in the marketing process.

THE NINE FUNCTIONS OF MARKETING

In order for the marketing bridge to work correctly -- providing consumers with opportunities to purchase the products and services they need -- the marketing process must accomplish nine important functions. The functions are: Buying - people have the the opportunity to buy products that they want. Selling - producers function within a free market to sell products to consumers. Financing - banks and other financial institutions provide money for the production and marketing of products. Storage - products must be stored and protect ed until they are needed. This function is especially important for perishable products such as fruits and vegetables. Transportation -products must be physically relocated to the locations where consumers can buy them. This is a very important function. Transportation includes rail road, ship, airplane, truck, and telecommunications for non-tangible products such as market information. Processing - processing involves turning a raw product, like wheat, into something theconsumer can use -- for example, bread. Page 14 Risk-Taking - insurance companies provide coverage to protect producers and marketers from loss due to fire, theft, or natural disasters.

Market Information - information from around the world about market conditions, weather, price movements, and political changes, can affect the marketing process. Market information is provided by all forms of telecommunication, such as television, the internet, and phone. Grading and Standardizing - Many products are graded in order to conform to previously determined standards of quality. For example, when you purchase US No. 1 Potatoes, you know you are buying the best potatoes on the market.

qstn 2..... Brand Equity

Brand equity is a phrase used in the marketing industry to try to describe the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is better than products with less well known names. Another word for "brand equity" is "brand value". Some marketing researchers have concluded that brands are one of the most valuable assets a company has, as brand equity is one of the factors which can increase the financial value of a brand to the brand owner, although not the only one. Elements that can be included in the valuation of brand equity include (but not limited to): changing market share, profit margins, consumer recognition of logos and other visual elements, brand language associations made by consumers, consumers' perceptions of quality and other relevant brand values. Consumers' knowledge about a brand also governs how manufacturers and advertisers market the brand.

Measurement
There are many ways to measure a brand. Some measurements approaches are at the firm level, some at the product level, and still others are at the consumer level. Firm Level: Firm level approaches measure the brand as a financial asset. In short, a calculation is made regarding how much the brand is worth as an intangible asset. For example, if you were to take the value of the firm, as derived by its market capitalization -

and then subtract tangible assets and "measurable" intangible assets- the residual would be the brand equity. Product Level: The classic product level brand measurement example is to compare the price of a no-name or private label product to an "equivalent" branded product. The difference in price, assuming all things equal, is due to the brand. More recently a revenue premium approach has been advocated. Consumer Level: This approach seeks to map the mind of the consumer to find out what associations with the brand the consumer has. This approach seeks to measure the awareness (recall and recognition) and brand image (the overall associations that the brand has). Free association tests and projective techniques are commonly used to uncover the tangible and intangible attributes, attitudes, and intentions about a brand. Brands with high levels of awareness and strong, favorable and unique associations are high equity brands. All of these calculations are, at best, approximations. A more complete understanding of the brand can occur if multiple measures are used.

components of Brand Equity

A recent AdAge article focused on settling the argument over "emotional messages" and "rational messages" and which ones are preferable in marketing. The authors reference data

that shows that emotional campaigns are almost twice as likely to generate large profit gains than rational ones, with campaigns that use facts as well as emotions in equal measure fall somewhere between the two. Even better than an emotional campaign is an emotional brand, which, in general, generate a wide range of desirable business effects in improving profitability. Emotional brands reduce the consumer's focus on rational features and benefits and have a substantial reduction on price sensitivity. "Brand Equity" is the sum total of all associations, experiences, and perceptions consumers have over time with a company, including its products, services, marketing, employees, retail stores, etc. As companies seek to establish greater Brand Equity, its three components must be considered separately. Awareness Unaided awareness is the foundation and first key measure of brand equity. Awareness comes from exposure, i.e. advertising, publicity, event sponsorship, store fronts and signage, email campaigns, direct mail campaigns, packaging, website, banner ads, etc. These things must be created with extraordinary style and creativity so they grab attention and have impact. Understanding Understanding comes from what you say about yourself, and, more importantly, what others say about you. Do consumers think about you the same way you think about yourself? In the past, understanding was shaped largely by the news media and word of mouth, but now social media gives brands a tremendous opportunity to listen to what consumers are saying and engage them in actual conversation. Imagine for a moment that your target audience could only think of you in one single way. What would you want it to be, and how many would say that very thing about you? Loyalty Loyalty comes through positive interaction with a brand. The more positive the experience, the deeper consumer loyalty becomes. Branding is a business strategy not just a marketing strategy. It is a long-term commitment, not a short-term initiative. Develop a positive experience through product design, employee training, creating a great shopping experience, and customer-friendly corporate policies. From a marketing perspective, look at highly personalized data base driven marketing programs, i.e. preferred customer programs, cross-sell programs, and particularly the personalization of your website.

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Channel Management Indispensable

In present-day business parlance channel management marketing has become a good strategy to enhance sales and also business. Manufacturers making use of the concept of channel management take help of channel partners which basically are resellers or else distributors to get their goods get to the customers hands. Channel marketing is perceived as an helpful as well as a effective system to raise sales as it could not usually be achievable for a company to reach the end users directly. Though channel marketing is proven productive, its not at all free from challenges. One of the most typical issues faced in the execution of channel management marketing is successful communication with channel partners. Still, thanks to the development of technology, nowadays manufacturers can take help of channel management software to manage direct conversation with channel partners. Advantages of channel management marketing programs Channel management programs are becoming an essential part of channel advertising in these days. Channel managers look at these programs as a cost effective solution for the control over channel marketing. Today, programs have become so advanced that these help save lot of time and experiments for the channel managers. You can also install automated channel partner marketing software which will get updated automatically as channel partners send information. Automated software is of good advantage as it allows channel partners get more perfect data every time they sign in to the portal. Advanced ways of channel management marketing Presently, there are lots of companies and even software organizations that specialize in channel management marketing. They give you many methods to connect with channel partners through a single platform. Manufacturers can get service of these companies to operate an integrated campaign by making use of email, direct mail, fax, RSS feeds, immediate messaging, and as well as partner portals. Besides, these organizations provide you a system to track and moreover find out response of your channel marketing efforts. This powerful technique help you concentrate on your strengths and work on your faults and as well , so organize better return on your investments.

FUNCTIONS OF MARKETING CHANNELS

Introduction Marketing channels (Distribution channels) move goods and services for producers to consumers. It overcomes the major time, place and possession gaps the separate good and services from those who would use them. Manufacturers, wholesalers, and retailers as well another channels members exist in channel arrangements to perform one or more of the following generic functions: Information gathering and distributing marketing research and intelligence information about actors and forces in the marketing environment needed for planning and aiding exchange.

 Promotion: Developing and spreading persuasive communications about an offer. Contact: Finding and communicating with prospective buyers. Matching: Shaping and fitting the offer to the buyers needs including activities such as manufacturing, grading, assembling and packaging. Negotiation: Reaching an agreement on price and other terms of the offer so that ownership or possession can be transferred. Others help to fulfil the completed transactions. Physical distribution: Transporting and storing goods. Financing: Acquiring and using funds to cover the costs of the channel work Risk taking: assuming the risks of carrying out the channel work Carrying of inventory, demand generation or selling, after sales services. In getting its goods to end users, a manufacturer must either assume all these functions or shift some or all of them to channel intermediaries. The foregoing discussion underscores three important principles in the structure of marketing channels.

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Budget allocation methods

There are different budget allocation methods that can be employed to set a budget.

Baseline budgeting
Some units set budgets by allocating money to each separate organization/group. Questions that may be asked during this process, may be similar to:

How much shall we allocate to x group this year? How much did y receive/spend last year? Was that enough? Or too much?

Once set, clerks would monitor how each organization/group spent the money they had been allocated. Often clerks would answer questions during the year such as:

How much budget do we have left? Have we spent any money yet?

This method will help to ensure that budget limits are not exceeded, but it does have a weakness. Baseline budgeting methods do not focus on the effectiveness of how the money is used.

Activity-based budgeting
The principal of activity-based budgeting is to allocate funds according to objectives or outcomes. Once the unit leader decides on the priorities for the unit, the different organizations and groups in the unit can propose different ways to achieve those objectives. Their proposals should outline the expected costs of each activity that contributes towards meeting the unit's priorities. The bishopric/branch presidency can then consider each proposal and allocate the limited resources of the unit to specific activities, setting a budget for each. The questions asked when budgets are set may be:

What do we want to achieve? How can this be accomplished? Will the activity: 1. Strengthen faith in Jesus Christ? 2. Strengthen families? 3. Establish the Church? 4. Increase convert baptisms? Will it fulfill the unit mission plan? Will it help achieve the goals we have set? How much will it cost?

Once an activity has happened and all reimbursements have been submitted, the clerk will be able to report if the activity was under or over spent. Any underspends could then be reallocated to support new activities or increase the budget of an already approved activity. If an organization or group overspend on an activity, they could be requested to trim a little budget from all remaining activities or cancel a previously approved activity to cover the cost of the overspend. In all budget matters ward and branch officers can make proposals, but the decision making on increasing or decreasing budgets is a matter for the bishopric/branch presidency. These brethren hold the keys to administer in the kingdom and are best placed to make these

decisions. By following the principles of activity-based budgeting, unit leaders will be better able to respond to changing circumstances during the year. Overall the amount of money spent during the year should not be more or less, but the way the money is used and the results achieved should be improved.

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Direct marketing

Direct marketing is a channel-agnostic form of advertising that allows businesses and nonprofits to communicate straight to the customer, with advertising techniques such as mobile messaging, email, interactive consumer websites, online display ads, fliers, catalog distribution, promotional letters, and outdoor advertising. Direct marketing messages emphasize a focus on the customer, data, and accountability.

Characteristics that distinguish direct marketing are:

1. Marketing messages are addressed directly to customers. Direct marketing relies on being able to address the members of a target market. Addressability comes in a variety of forms including email addresses, mobile phone numbers, Web browser cookies, fax numbers and United States and international postal addresses. 2. Direct marketing seeks to drive a specific "call to action." For example, an advertisement may ask the prospect to call a free phone number or click on a link to a website. 3. Direct marketing emphasizes trackable, measurable responses from customers regardless of medium. Direct marketing is practiced by businesses of all sizes from the smallest start-up to the leaders on the Fortune 500. A well-executed direct advertising campaign can prove a positive return on investment by showing how many potential customers responded to a clear call-to-action. General advertising eschews calls-for-action in favor of messages that try to build prospects emotional awareness or engagement with a brand. Even well-

designed general advertisements rarely can prove their impact on the organizations bottom line.

different methods adopted for direct marketing

Three main types of direct marketing include:

Telemarketing: Direct marketing that involves calling people at home or work to ask for donations, an opinion, or for sales purposes. Email Direct Marketing: This form of direct marketing targets consumers through their Email accounts. Email addresses can be harvested from websites, forums, or purchased. Some companies require you to receive announcements to use their websites. Direct Mail Marketing: Advertising material sent directly to home and business addresses.

Other types of direct marketing include: distributing flyers; door-to-door solicitations; curbside stands; FAX broadcasting; television marketing (i.e., infomercials); coupon ads in print media; and voice mail marketing.

qstn 6... Difference between international marketing and domestic marketing First, International marketing is facing a more complex market environment . Domestic marketing is conducted in this country and so faced corresponding structure of the market environment is relatively simple ,which consists of those factors that are more familiar to companies -- the domestic political, economic, legal, cultural and so on. However, International marketing is facing a more complex environment, it's a market with multilevel structure. This is because those companies who engage in international marketing , will inevitably be subjected to the world market environment. Which requires companies to face the world market environment, including the world's political, military, economic, technological and other aspects. Second, International marketing is facing more Uncertainties factors The contradiction between subjective understanding and objective reality, coupled with the volatility of the objective process, international marketing facd more uncertainties factors for the companies .Compared with domestic marketing, it's more difficult to make sure the total

demand, purchasers and competitors and more difficult to investigate and predict wholesale segment, retail structure, buying habits in international marketing. Third, International marketing is facing more diverse selection of marketing programs Companies in the domestic market, although also need to deal with different regions and different programs for different target markets, different strategies, and even the use of different promotions, but the overall program is the same however. the international market is a market composed of different countries .Enterprises in the international marketing, its marketing programs are of diversity, Enterprises in different country markets to sell their products, not unified marketing program, and must host country market, different scenarios were developed. Four, Marketing in international marketing is more difficult Besides the complex environment and the uncertain factors ,diverse selection programs, international marketing have more risks and meet more fierce competition. The risks are added by the changing international political situation and the fluctuate exchange rate .Competitor's brilliant competitive strategy in price, promotion and products made the international market more and more narrow.