Scooby-Dooby-Doo! I'm here! How are you, Bajapadi? How are you?
How are you all? Hello, brother! Hello! Hello, hi!
Leave it. Say Jai Mata Di, brother! How are you all?
How are you all? Tell me quickly. Sir, sir, you had said that you will take class at 11. You are taking class at 12.30. This is unfair. It happens sometimes.
I think I am getting more convenient at 12.30. Let's go, today's class will be dedicated to our chapter number 13, Marketing Concepts and Functions. So, those children who don't know the order of what I am going to teach, I have put a video of the roadmap on the channel.
You can go and check, I told you that marketing class will run for 2 days, today marketing will run in the morning and tomorrow morning marketing mix. So in 2 classes we will finish marketing, in the next class we will finish consumer protection, we will finish business environment and along with that we will finish chapter number 4 banking latest trends. Then we will do a marathon of management.
We will make you do a marathon of chapter 2 and 3. And after that, your syllabus will be completing. So this is the order on which we have to move forward. Okay? What a thing.
So some children, 1300-1400 children have come. And 429 likes. This is not a good thing, Babuji.
You can't do this. All of you, at least as many children as you are, please like it if you haven't enrolled in sample paper. No problem. When they give the paper again next year, then enroll.
No problem. Come on, brother. Let's start.
Our chapter is Marketing Concepts and Functions. And brother, I want to tell you that as soon as this live ends, immediately after that, the notes of this chapter will also be uploaded in our application. I want to tell you that I have uploaded notes of all the chapters in my application, which is free of cost for everybody.
Go and download it and read it in a good way. Okay, brother? What's the matter, Pratam Sharma?
I do remember you. Thank you so much. Let's go, brother.
Let's go, brother. Let's go. Today we are going to start the marketing chapter.
I want to tell you. that this chapter will be ending alone with a topic of 10 numbers. So from here I will cover all the chapters live.
I will revise all the syllabus like I had revised in economics. So do not worry. We will finish all. Shubham will handle it.
I mean Shubham will handle it but you listen to him. First of all, let's come to meaning and types of market. What is the expectation of being directly asked any question from you in this year's paper? And the thing that has less hope, you will have to face some difficulties in that. So the learning skill is less, the learning skill is more.
And the knowledge is beautiful, let's read. Let's see what is market. It is a set of all actual and potential buyers. Set of all actual and potential buyers.
What does actual and potential buyers mean? Let's assume that this is an iPhone. By the way, there is Samsung. Let's assume that this is an iPhone. Let's assume that the current buyers of iPhone are 10 lakh people.
And what are the potential buyers? More people who have the aspiration to purchase iPhone. Clear or not clear?
So actual plus potential buyer is known as market. I am understanding what market is. I understood the combination of actual and potential buyers.
Now let's come to the concept of market. Now we have to understand one thing according to this concept of market. Okay, brother. Come on, brother.
Come on. First is place concept. What is place concept?
To the common man, market is a place where products and services are sold or exchanged. It may be a heart, bazaar or a shopping mall. Place concept ke sābse ek jagay, jahaan par buyers or sellers milte hain ek dusre se aur product ko exchange karte.
Jaisa shopping mall ho gaya, jaisa ghar ke bagal mein koi choti si dukaan ho gai. Cheek hai na, wo sāb kya ho jayegi? Ek particular place jahaan par goods and services ka exchange hota hai. Wo place concept ke sābse market ki definition hai.
Now this area concept kya hota hai? According to this view, market means a geographical area in which products and services are sold or exchanged for example, European commodity market. Kisi ek particular area ke hesaab se samaan vikta hoga, usko ham log area market bolenge. Jaisa European market ho gai.
Baat samajh mein aari hai sabhi log ko. Ab aate hai, agle concept ke hesaab se, wo hai demand concept. It refers to the aggregate demand for a product or service.
Demand concept means, the total demand of a particular product. We will call it market according to demand concept. Next is exchange concept. It means an organization through which exchange of an item takes place. Like through stock exchange, shares and debentures are exchanged.
Commodity exchange is done. Are you able to understand this? Is it clear to all?
So, it means that mechanism, that mechanism, which is used to exchange commodities, that exchange concept has been marketed according to that. Now, let's come to people concept, because on this, you have to become MCQ. MCQ is decided.
That's why, I will teach you one thing very calmly. There is no tension. Marketing, marketing mix is such a unit, which will give you 16 to 20 numbers. Okay? According to this view, market consists of buyers and sellers.
And all those middlemen who assist in buying and selling. So market means that there are buyers and sellers. Along with that, there are middlemen who assist in the whole process. Is it clear?
Is it clear to all the kids? Is it clear? Shall I move forward?
Let's move forward. One kid said, I have increased the volume. We will increase the volume at your house. What are you talking about, brother?
Raj Verma, don't talk like this, brother. Okay. One more child is asking, will there be a live discussion of sample paper?
Yes, there will be a live discussion of sample paper every day on the application itself. The children who have registered, like they were discussing in economics, they will also do it here in commerce. On the basis, now see types of market, very very important, very very important topic is this. Are you going to study types of market?
According to geographical area, market is local market or regional market. According to geographical area, there are four markets. Local market, regional market, national market and international market. What is this local market?
This is a market wherein buying and selling are limited to a local area. Example, a village, town or a city. In a small area, if the market is saturated, then it is called a local market.
The second is a regional market. This is a market wherein buying and selling are restricted to a particular region. In a particular region, in a particular state, like if there is a market in a state, in a part of the country, in North India, in South India, there is a market in such a place.
I understand it, it is called a regional market. Tisri market kya hai? National market. Puri country ki market.
This is a market wherein buying and selling activities are limited within the boundaries of a particular country. Ek country ke andar limited hai wo market to usko hum log national bolenge. A pura world mein limited hai to usko international bolenge. This is a market where buying and selling involves buyers and sellers of several countries.
Example European Union. Clear hai? On the basis of geographical area, local, regional, national. International These four things Are coming to you In your mind All the kids Are understanding The thing Let's move forward Now let's come On the basis of Volume of business Sir volume Listen Honey Singh Reminds me Come here On the basis of Volume of business Means How much business Are you doing According to that If we talk Then There are two types of market One is Wholesale market Doosri hoti hai retail market.
On the basis of volume of business, do tarah ki market hoti hai. Ek hoti hai wholesale. One is retail. Neon asks, is it no use to buy a sample paper? There is no use.
Don't buy a sample paper. What if you get a number? There is no use.
After the boards. Is there any use of studying? There is no use of hard work and practice. Neon brother. Save 500 rupees.
And go and get a gift in farewell. This is a market where goods are sold in bulk. To retailers.
What happens in the wholesale market? What happens in the wholesale market? In wholesale, me bulk mein samaan becha jaata hai retailers ko.
Retail market mein customers ko becha ta. This is a market where goods are sold by retailers in small quantities directly to ultimate consumers. So on the basis of volume of business, bilkul ho jaoge Armaan bhai, there's no need of sending money, please thank you so much. On the basis of volume of business, wholesale market hoti hai, retail market hoti hai, aankho mein aise bandh karke, aap log ko samajh mein aara hai.
Haan ji. Now let's come to on the basis of subject of exchange. This is a very crucial topic that all the children are reading.
On the basis of subject of exchange. First is commodity market. On the basis of exchange, we first move to commodity market.
This is an organized market where commodities are bought and sold according to prescribed rules and regulations. Like cotton. A specific commodity is sold.
On the basis of exchange we are talking. So first is commodity market. Second is capital market.
This is a special market for providing long term finance to business enterprise. It comprises specialized financial institutions, stock exchange, investment, insurance, etc. First is commodity market.
There will be a specific commodity dealing there. Like we told you, let's say cotton. And capital market means stock exchange, shares etc. are exchanged.
Is everything clear? Then third is money market. So on the basis of exchange, how many markets are there? Three. Commodity, capital or money.
Sab bachho ko samajh me aari hai money market me kya aata hai? This is a specialized market for providing short term finance to business enterprise. It consists of various types of banks. Money market me kaun aata hai?
Bank agar aate hai. Ye kya karte hai? Mne short term finances ko sell karte hai. Toh teen tare ki cheeze aati hai on the basis of exchange samajh me aagaya. Commodity me cotton.
Yaad rakhna hai baat. Commodity me cotton. Capital me stock exchange. Money market me banks. Clear hai?
On the basis of position of buyers and sellers. On the basis of position of buyers and sellers, the market is primary market. Primary market means, primary producers sell their agriculture produced to the wholesaler or their agents.
What happens in primary market? Producer sells goods to wholesaler. What happens in secondary market?
Wholesaler sells retailer. Wholesaler sells retailer. And third is terminal market.
What happens in terminal? Retailer sells customer. Are you understanding?
On the basis of position of buyers and sellers. Everyone understood? What is primary market? What is secondary market?
What is terminal market? Clear? Did you understand? One kid asked, when is the discussion of papers?
The discussion of papers will be at 10 o'clock every night. Today is the discussion of the first paper. Tomorrow will be the discussion of the next paper. After that, the discussion of the next paper will be. There are five papers.
In one day, I am going to discuss one paper. At 10 o'clock at night. Come on, let's move ahead. Come on, son. On the basis of nature of transaction.
Now let's look at the market on the basis of the nature of transactions. First is the spot market. What does spot market mean?
This is a market where goods are physically transformed from sellers to buyers. What does it mean in spot market? You give money immediately and take the goods immediately.
This is called spot market. You give money immediately and take the goods immediately. What is forward market?
This is called forward or future market. This is a market where buyers and sellers Enter into future contracts without the intention of actual delivery of goods. Their purpose is to make profit out of the fluctuations in the prices.
Means, we have booked today, but delivery is going to be on future date. It is called forward or future market. So, on the basis of nature of transaction, there are two types of market, spot and future.
Is it clear? Let's move ahead. On the basis of nature of goods.
According to the nature of goods, the first market is the consumer market. Consumer market means the one which sells consumer goods. This is the market where goods are purchased for personal consumption.
You are understanding the thing, like a bottle of water, a mouse, this is for personal consumption. We buy it. Like I give you a little fire.
Like these fruits are done. Wow, wow. Fruits are done.
Fruits are here. What a great. So what is all this? Consumer market. What is producer market?
This is a market where goods are purchased for use in further production. Means industrial products are being sold. Industrial products are being sold. What will come of all that? It will come inside producer market.
So all children. Tell me quickly. Raj Verma is asking you to take my girlfriend's name. Why? Doesn't your girlfriend take your name?
What does she call you with love? Now, if all the kids with me make a mind map. Because commerce is such a thing.
Whose things are not remembered. They are not remembered. So you don't even have to remember.
Come on, all the kids with me, let's make a mind map. All the kids make a mind map once, brother. That what we have studied, wow, wow, wow. Oh, yes, Ramzan Chalak. Okay, brother.
Sorry, sorry. Come on, brother. Come on, let's move on. Let's make a mind map. We are going to make types of market in mind map.
Come on, make it with me. Let's see how many children remember or not. Types of market.
Your letter will be ready. Don't take it in paper. You should know how many types of market are there first.
How many bases are there? There are six bases. Types of market has been classified according to six bases. First, second, third, fourth.
4th, 5th and 6th. If you remember the basis, then you will remember the inside as well. Now see, the first basis is geographical area. You should remember this heading. Geographical area, the first heading.
What did Hanis Singh say? Volume of business, the second heading. Volume of business.
I will remind you all the same. The third thing is subject of exchange. On the basis of exchange. On the basis of exchange, which market? Then, position of buyers and sellers.
Position of buyers and sellers. After that, which market was there? Nature of transaction. Nature of...
transaction nature of transaction ke baat kya hota tha nature of goods nature of goods ab ye classification hai ab aapko geographical area ke saab se kitni market thi 4 kaun kaunsi ek hoti thi local ek hoti thi regional ek hoti thi national ek hoti thi international. If you remember this, you will remember the inside as well. A particular town, a particular state, a particular country, the whole world.
Are you understanding the thing or not? For all the kids, according to the volume of business, how was it? Wholesale and retail. Two markets.
One was wholesale and the other was retail. Remember? You will remember, right? On the basis of exchange, what used to happen? There are three types of exchange.
Commodity, capital and money market. So, what used to happen in exchange? Commodity, in which cotton is an example.
Capital, in which stock is an example. Money market, in which bank is an example. There are three types of exchange. Then comes position of buyers and sellers.
So, what happens? Primary, secondary and terminal What comes in this? Primary, secondary and terminal All the kids will remember this This cheat strategy will come in handy Absolutely new and single Now what used to happen in nature of transaction? One used to be spot And one used to be future And according to nature of goods One used to be consumer goods And the second one was producer goods, which is called industrial product. So, you saw that this mind map is prepared according to your types of market.
If you keep preparing this, it means your chit will keep on being made. It means your best preparation will keep on being done. Thank you so much, Levi, but not needed, son. Come on, let's move forward. Let's move forward, brother.
What's the matter, Ankit? Ankit is saying, my aunt has a crush on you. Oh, man. Aunty, I love you.
Let's move on. Come on. Now let's come to the meaning and features of marketing.
Come on, brother. Come on, let's move on. Let's do something in life. Come on, brother. Come on.
Yes, yes, very good. Come on, let's see the meaning and features of marketing. Marketing has been defined as...
all activities that direct the flow of goods and services from producer to the consumer or ultimate user producer say is the race is Saman ultimate consumers guitar of poha Chaya Jai your marketing galata abdico meaning and features of marketing both important to the features so panna panna he cannot buy out of features it a parallel feature a customer focus First feature is customer focused. What does customer focused mean? The main purpose of marketing is the satisfaction of customers. Means customer should be absolutely satisfied.
This is the aim of marketing. Second is integrated process. Why integrated process? Because in marketing there is integration of many activities.
Marketing involves coordination of several interrelated and interdependent activities. Marketing has branding, marketing has selling, marketing has purchasing, assembling. There is integration of many things.
That's why it is called integrated process. Third, marketing is creative. Creative because it creates utility of time, place and possession through storage, transportation and sale of products.
Why is marketing creative? Because marketing helps in making place utility. marketing It helps in making time utility. Okay.
It helps in bringing you the stuff where you need it. So marketing is called creative. Part of environment. Marketing operates within economic, social, legal and political and other forces.
Like the forces in business environment, they also affect marketing. It is continually adjusting changes in the environment. Therefore, marketing is dynamic in nature.
Marketing is done according to people in today's date. That's why marketing is dynamic in nature. If you have downloaded our application, then you will get notifications on our application. Tell me all the students, you will get notifications from time to time. And you will like our notifications more than Zomato.
Because Shivam sir who leads our team, he is very particular about sending the notifications to the students. So, they are creative and dynamic. Is it clear to all?
Let's move ahead. Marketing is multidisciplinary. Knowledge drawn from...
Multidisciplinary means it contains a lot of subject knowledge. Like economics, sociology, psychology, anthropology, mathematics, statistics, law, etc. Is it clear to all? Clear or not clear?
Pervasive. Pervasive means it is present everywhere. Marketing is happening everywhere. Marketing is needed not only in the business. In non-business organization also marketing is needed for spreading socially useful ideas like family planning, hygiene, communal harmony, immunization, blood donation etc.
Means leave business, marketing is applicable everywhere in the world. That's why marketing is pervasive. So these were the features of marketing that you have to remember.
Everyone is understanding the thing. Let me keep a pen and pencil with me. Sometimes I need it.
I don't get pen and pencil in my house. Look at the house where small children are. You can write in your language.
There is no tension. Is everyone understanding? Everyone is understanding, tell me once.
Yes, accountancy class at 7 pm. Let's move ahead. If you want to remember features, then it is a very simple thing. We can say that our PM is very epic.
A child would ask how to remember, you will remember. Remember in features of marketing, our PM is very epic. Okay. Here you will remember P means pervasive. M means multidisciplinary.
You will remember this. C means customer oriented. I means integrated, P means part of environment and E means PM is epic, PM is EP, E means environment.
Environment, environment, environment. Oh, die, okay, it's done. M means multidisciplinary. Now if you remember, you will remember 4-5 points.
You will be prepared with this. You will have to come to write only 4. Come on, let's move ahead to the next concept. PM Epic, you will remember.
You will remember some points in the paper. Now let's come to marketing concepts, traditional and modern. What will we teach in accountancy? A decoding video will come and you will know the whole schedule. How to do it.
So now don't ask accountancy during commerce. Now let's come to traditional and production oriented concept of marketing. Now marketing has two approaches.
One is traditional approach and one is modern approach. Both are in our syllabus. Okay, I am getting it. Now traditionally what does marketing mean?
Marketing includes all activities involved in the creation of place, time and possession. Converse, Hygge and Michel Utility had said this. Look, traditionally, Marketing ka matlab sirf yahi hota tha ki samaan ko bech do.
Sirf marketing is cheese par focus karti thi. Aba features of traditional or production oriented concept dekh lete hain. These definitions reflect a narrow view of marketing.
Traditional ke hesaap se narrow view of marketing padha chalta tha. In this view marketing begins after the goods are produced and comes to end with the sale. Toh traditional concept ke hesaap se marketing ka matlab sirf or sirf.
Samaan ko beechna hi tha. This view of marketing is not appropriate to the modern business world characteristics by cutthroat competition, consumer awareness and dynamic environment. Aaj ki date mein traditional view of marketing nahi chalta hai, modern view of marketing chalta hai.
This stresses up only on one way traffic that is transfer of goods from producer to consumer. Thus traditional approach emphasizes merely the physical process of distributing the goods and services. Its focus is on Product rather than on satisfaction of customers Now this same thing can be said in 25 languages That traditional According to traditional concept Marketing was the focus In selling the goods Not in satisfaction of customers This same thing you have to write in 2-3 points This is their features Did you understand? This is traditional approach Now let's move forward To modern and consumer oriented definitions Okay brother Now, marketing is a process of planning and executing the conception, pricing, promotion and distribution of goods and services and ideas to create exchange with the groups that satisfy customer and organizational objectives. Now, understand this.
What is modern view of marketing? Modern view of marketing focuses on customer satisfaction. You have to fulfill the objectives of the organization. But what should be the focus?
Customer should feel satisfied. What was there? Sell your stuff.
What was there in the traditional customer? What does modern do? No brother, customer satisfaction matters a lot. Now what are its features?
Let's see this. Come and see. And there are chances of its features coming.
If we are talking about customer, then customer orientation is the first point. All business activities should be oriented towards the recognition and satisfaction of the consumers needs and wants. So the first focus is customer oriented. Second is integrated approach. Different elements of marketing should be properly coordinated.
Similarly the activities of various departments of the enterprise should be harmonized. Means all activities should be coordinated together and both objectives should be fulfilled. Organizational objectives should be fulfilled.
And customers should also focus on satisfaction. Marketing research. In order to understand and satisfy the needs of the customers, relevant information should be collected about the markets. Market research means you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, you have to make such products, Which will satisfy every customer's needs That's why in marketing, marketing research is very important point Marketing planning and controlling Marketing should be a dynamic process It should begin much before production and should continue after sales. The objective of marketing should be in harmony with the overall goals of the enterprise.
So marketing, planning and control means you have to sell the goods, sell the goods as well and also fulfill the objectives of the organization. At the same time, you have to take care of the customers as well. There are around 1500-1400 students and 1200 likes. It's okay. Anyway, if you remember these 4 points, then it will be a matter of...
Now let's come to the next topic, I will give you this here, it is a simple question, very very important again and this is also asked in your specimen, what is the difference between marketing and selling? I will also tell you here, marketing is a wide concept, selling is a narrow concept, marketing focuses on customer satisfaction, sales focuses on selling only, marketing needs the buyer and selling needs the seller. 5 points you have to prepare minimum You understand the point?
You understand the point? You have to prepare any 5 points So let me tell you I will write it here How to write the difference In the paper you see quickly You have to write the first column of the basis Then marketing And then selling Okay, in this way you will write the difference If you are being asked in 5 numbers then you have to write 5 points Okay, I hope you understood, we have written the first scope You can write like this, the scope of marketing is wide and here it is narrow You will get the whole number, no problem Don't worry at all, you will get the number You can prepare any 5 points What is focus? Next focus, what is the need of buyer here? Need of buyer And here what happens is need of seller. Is everyone understanding?
How to differentiate? Is everyone understanding? Yes, you need to differentiate on the basis. So, you will have to understand this. What is the slogan?
Let the seller beware. Seller has to be afraid. and according to selling let the buyer beware let the buyer beware so by doing this you can prepare 5 points no problem you can do it it will work you can write orientation also next point orientation in orientation what will come customer oriented and that is product oriented this is customer oriented customer oriented and this is product oriented.
I have given you these easy differences. Okay, now what is perspective? Marketing is done for long term. This is done for long term marketing and this is done for short term.
And along with this, you can also write differences based on their meaning. You can do whatever you like. Are you getting the point?
If I change the paper format in commerce, then what? You are all going to study, right? What is the problem? Keep your preparation complete.
So what is the issue with that? If we will not ask for marketing of 10 number, we will ask for 5 number, we will ask for 2 number. Hardly matters. We are all going to study. What are we leaving?
The problem is with those who are studying selective. They will feel. You are reading everything, I am revising everything for you.
I am doing everything. I am giving all the sample papers to do. And what is the need of giving a case study more than 500. Do it complete.
Why do you always cry for nothing? Come on, let's move on. Now, objectives of marketing.
Again, a very, very important topic. This is also given in our specimen. Okay, brother.
Since when are account papers live? Accounts are live. Their solution is uploaded.
There will be no live discussion in accountancy. First point comes on customer satisfaction. Now, objectives of marketing.
What is the first objective of marketing? Satisfy my customer. You can write in your language.
The main objective of the marketing is to satisfy the needs of the customers. Second is profitability. The second aim of marketing is that we bring profitability to our organization. Means sell things at this rate so that our organization can earn profit.
If you want the exact answer, it is written in your paper. Third is coordination and integration. You have to read this. And then fourth is service to society.
You can easily link service to society. Service to society is like this because high quality goods at reasonable price. Standard of living improve kar denge. Toh 3 point toh yaar rahenge yeh bhool jaoge coordination and integration.
Yeh har bacha bhoolta hai. Marketing must aim at bringing about an effective coordination and integration between product, price, place and promotion. Charo piece ke beech me coordination or integration lana. Yeh agla objective hai. Ki product achcha bhi ho, uska price reasonable bhi ho.
Theek hai na? Baat samajh me aari. Sab bachko toh objectives yaad rahenge.
Koi dikkat wali If I make a mind map here because objective will be asked. If I make a mind map of objectives of marketing. Of objectives of marketing. So can all children make it? What is the main focus of marketing?
Customer focus. What is the main objective? Customer satisfaction.
Customer. Satisfaction. You will remember three. You will never forget. Customer satisfaction.
Second, profitability. Business has to make profitability. Third, service to society.
You will never forget these three. And fourth, you will never forget which? You will always forget coordination and integration. Coordination.
You will remember this mind map, right? It's not a problem. You will get this in tomorrow's paper.
You will get this. You will get this. You will get this in tomorrow's examination. You will get this.
Clear? All the students understood? No problem.
Let's move on to the next topic. And the next topic is importance of marketing. Importance. Now see how many interrelated topics are available here.
Like one. It seems like all the topics have merged into each other. Importance of marketing. First of all, foundation of business. What does foundation of business mean?
Marketing actually tells what business is to be done. Marketing is the focal point of all business activities. The end of all production is consumption. And the success of a business enterprise depends on the effective marketing.
Manufacturing, finance, personal and other activities of business revolve around marketing. So the first thing that he is doing is foundation. This is the foundation of business. If the business's marketing is good, that business will survive in the future. You can write this in your words too.
There is no problem. Source of revenue. Marketing is the only source of generating revenue for business.
The more good marketing is, the more revenue and customers you will get. Other activities of business such as manufacturing, finance, research and development and personal are their expenditure. But marketing provides funds for all other activities. Are you getting the point? Is it clear to all the students or not?
Sir, the students are tired of half an hour of study. Now see, if you see the importance here, then keep it with us in our book. If you prepare 5-6 people, it will work.
There is no need to go specific in this. Third, satisfaction of customer needs. You can enter this point everywhere. Now see, we have written customer satisfaction in objectives and this also came in importance.
So it's not a tension, customer satisfaction can be put anywhere. High standard of living. Next.
High standard of living means service to society. And service to society we have studied in objective too. So you are understanding.
You are understanding how relatable the topic is. You will be prepared easily. High standard of living means you are providing such products to the society which are good in quality and price. Okay? Did you understand?
Interrelated. Gainful employment. This will also come in your service to society point.
Gainful employment means you are generating employment. You are providing jobs to people. Then the next one is development of the nation.
Now these are interrelated. If you are providing employment in a country, if you are... are delivering good products, then they are developing that country.
Do you understand? And lastly, basis of decision making. How a company has to make decisions, what kind of product to make, how to sell it, all this is dependent on marketing. If we make a mind map, what kind of mind map should we make?
Importance of marketing. Can you tell me five points? Importance of marketing.
So can we tell you 5 points of this? Come on tell us Customer satisfaction is here Here we can write Satisfaction of Customer And what else can be written? Think Here it is written Service to Society Means what can we write?
Gainful Employment And what else can be written? Development of Nation What else can happen? Standard of living. High standard of living. High standard of living.
What else can happen, my dear? Development of nation has also happened. All things have happened. Basis of decision making. Five points have been given.
It will be done. If this question comes, then you will write it. There is no problem now. Foundation of business, source of revenue. You can write all this in this.
Okay, brother. Now you see. Very good, listen. So this topic is also clear to us.
Now let's come to the next topic. That is functions of marketing. Which is the biggest topic of this chapter. Our function of marketing is the most detailed topic. And I want to tell you that from here you will get the questions in a row.
Do you understand in a row? You will get it in a row. Is everyone understanding? Is it clear or not? Let's move forward.
Let's go. We come to the functions of marketing. Functions of marketing.
in three parts. One is function of exchange, then function of physical supply and then comes facilitating functions. Okay? Let's see. First of all, let's come to exchange, buying and assembling.
This topic, from here you may get case, small ones. You may get question of case type from here. You may see from here in your paper. Now what is buying? Buying means buying.
Buying is the first step in the process of marketing. Buying means procurement of raw materials, components, finished products. Efficient and economical buying is essential for success in marketing. Like they say, goods well bought is half sold.
What does buying mean? You are understanding? You have to buy things. The more economical you buy, It will be better Now in buying You have to keep 3 things in mind You have to keep 3 things in mind What are the things? One is purchase by sample You understand this First is purchase by sample How do you buy?
One is purchase by sample Let's say we bought bottles I ordered a bottle from a company I saw the sample and I said yes it is a good bottle, it is very good. 1 litre water comes in it. It is running very well.
I understood the thing. So what did we do? We placed the order by giving the sample. Saw the sample, it is a good sample.
We placed the order by giving it. Second is purchase by description. Purchase by description. Purchase by description. Description means you read that there is a bottle which is round, water comes cold in it, it is silver color.
You read description. And you placed the order. This is the second method. Okay.
Sir, what are you talking about? Yes, this is a love marriage. Purchased by sample.
This is an arranged marriage. Purchased by description. Okay.
You said that you started seeing on matrimony.com, on shadi.com that this girl is a beautiful, beautiful girl. She works in JW Marriott. And let's say this.
So what are you doing? You are reading the description. You are placing an order by reading the description. So the purchase by the arranged marriage has happened.
Do you understand? Will you ever forget? You will remember the talk. How is the purchase by sample? You know.
You have seen. Oh, my. She was good with me. She was roaming. She is also good.
The vibe is also matching. Absolutely great. So this is done.
Third is purchase by grade. Third is purchase by grade. Purchase by grade.
What is this grade, sir? Purchase by grade. What does grade mean? Is it standardized?
Is it local? Is it international? Is it ISI mark? Is it BIS mark? Do you understand?
That is called purchase by grading. Is it clear? Does everyone understand?
All the students are understanding? Now let's see what is assembling? Assembling is different from buying It begins after the goods have been purchased It involves collection of goods already purchased from different sources At one common place Assembling is essential in the case of agriculture commodities Which are produced by small farmers and scattered place What is the meaning of assembling?
You have bought the goods from different places Now you have to collect it at one place At one place, accumulate karna us process ko assembling bolte hai. Samajh me aayi baat? Sab bachko ko clear hai ye baat? Arey bolona samajh me aaya na bhai?
Sab bachko ko aaya na bhai? Clear hai na? Chale aange bade? Yad rahega na bhai abhi?
Buying and assembling kya hota hai? Now let's come to selling and distribution. Selling is the process of finding the customer, creating demand and transferring the goods for value or money. Means find a customer, create demand for him, sell him the goods and take money. In order to sell its product, a business firm has to perform several functions like informing the buyers and persuading them to buy.
Do you understand? What is selling? All the students understood.
How you have to sell your stuff to others. You have to create demand. Now distribution means how you will deliver your stuff to the customer. A channel of distribution or marketing channel is the path through which product moves from producer to ultimate consumer.
Through which path product will reach ultimate consumer. That is called distribution. Are you understanding?
Come on let's move on. Next topic is transportation. Transportation is a physical means of carrying goods from one place to another. It plays a vital role in marketing. Means, how will goods be physically sent?
Will be sent by train, by plane, by rail, by bus, by truck. Will be sent by keeping your bike on top. How will we physically move goods from one place to another? That is called transportation. Okay brother?
Storage and warehousing. Where to keep the things? Storage refers to holding and preservation of goods from time of production until time of consumption it is very important function of marketing and some amount of goods are stored at every step in the marketing process we are storing the goods at which place till the time those goods are not sold you have to store them somewhere we call it storage and warehousing so did you understand these four functions all the children These 4 points are very well understood. A child is asking, Sir, when will you come to Bangalore? I will come to Bangalore after CUD examinations.
So, probably in the month of June. Okay, right? So, then I will talk to you.
Come on, brother, let's move ahead. Now, the next is marketing research. What does research mean?
Scientific and systematic investigation into all phases of marketing. So as to find answers to various marketing problems. Bro, do all the marketing, do such marketing that we can go about marketing problems.
To design such a product, customers want to purchase in the future. That is marketing research. What does product planning and development mean?
Products are the foundation of marketing. Because all marketing functions revolve around product. The success of the marketing depends upon the degree to which the products offered by it satisfy the needs of customers. Customers buy only those products. Which offer them maximum satisfaction or utility.
Therefore it is the responsibility of our marketing department. To design and develop the right type of products. We have to make products that can fulfill the wishes of customers.
Oh my god so many Hindi words. We have to make products that satisfy our customers. Baba.
Do you understand? Like I want to eat dosa. Make a dosa that makes me love dosa. Do you understand? Is it clear or not?
Sir, sir, when I read so many theories, sir, sir, I feel like death has touched me and left me, sir. Death comes from so close, sir. Kolkata will come next year, brother. Kolkata had just come.
Did everyone understand product planning and development? Let's come to the next point. Let's come to the next point. Let's come to the next point. Let's come to the next point.
Let's come to the next point. Let's come to the next point. Let's come to the next point.
Let's come to the next point. Let's come to the next point. Let's come to the next point.
Let's come to the next point. Let's come to the next point. Let's come to the next point. Let's come to the next point. notty nahi ho raha hai bhai.
Standardization and grading. Standardization refers to the process of setting up basic measures or standards to which the product must conform and take steps to ensure that the goods actually produce an adder to these standards. Standards means that you have already predetermined that what quality of your goods we have to keep. And generally goods can be produced on a standard quality because they go through a standard production process.
Manufactured products do not require standardization in marketing. Because they are automatically standardized in the process of manufacturing. But what is the need for standardization and grading?
But agricultural products are not uniform quality. They need to be standardized so as to facilitate their Sale. Grading is a process of sorting products into well-defined grades on the basis of established standards. Bro, the manufactured products which are produced in factories, they don't need standardization or grading.
But the agricultural products need standardization or grading because they are produced of different qualities. Let's move ahead. Packing and packaging is the biggest confusion in the world between packing and packaging. Okay?
What is packing? What is packaging? You have not understood till today.
Come, let's see. Today, I will explain to you in a very good way. Babu, Babu, Shona, Shona, come, I will explain to you. Today, I will teach you such a way that you will enjoy. Come, brother, I am going to bring a great example.
Wow, such a good and tasty example, no one will come with it. Come, let's see. Come on, brother, come on.
Uttarakhand, Rishikesh has to come. Most probably, a plan can be made in June. Come, I'll show you something today.
See this. What is this? This is Colgate Total. This is Colgate Total. Is this packing or packaging?
Come on, tell everyone. If we open it, wife will beat us. open it. Is this packing or packaging?
Let's understand. Oh ho ho. What is this and what is this?
Tell me the difference. Okay, let's defeat Leviathan. Tell me, brother, what is the difference between this packing and packaging? Let's read it.
You will understand the difference. Packing implies placing products in suitable packages for safe and easy handling during the storage and transportation. What does packing mean?
On the other hand, packaging involves designing and producing appropriate packages for product. It is concerned with determination of convenient size laws in the product is to be put on the market and the creation of proper packages for different sizes. A package is a case, container, wrapper or other.
Receptor use in packing products. A good package should be convenient, protective and economical and attractive. Brother, the thing that protects the stuff from falling is toothpaste.
If I take it out like this, then this is packing. So that our stuff doesn't get spoiled. What is this? This is packaging. To make it attractive, to transport it easily, this is packaging.
Did you understand everything, kids? Is it clear? Is it clear or not?
Brother, I will come back. My wife will kill me. Let's move forward.
Now let's come to branding and labeling. Oh, Kanpur always comes. Kamal, our house is in Kanpur. Branding and labeling. Branding is the process of assigning a distinctive brand name or symbol to a product in order to differentiate it from competitive products.
Branding helps to give a separate identity to product. It facilitates advertising and price control. Like, like, like what?
Like, let me show you. See this. This Colgate written here. This is its branding Colgate name is written very well Here total is written Advance health is written So this is branding Labelling implies putting labels Or identification mark on the package A label gives information about the product That is weight, size, price Date of manufacture Expiry etc Now what is labelling, I will show you What is labelling, see See what is labelling, it is written here. What all things are made, how much weight is there, how much MRP is there, where all is it made, what is the factory, do you understand?
And what is branding? This name is written to sell nicely. This is branding.
Did you understand the difference between branding and labelling? Babu babu bacha bacha shona shona, did you understand? Let's move ahead, let's come to pricing. What is this pricing?
Pricing refers to the process of fixing the price of a product or service. Pricing is an important function in marketing because it determines the sales volume and amount of profits. Pricing means the process of deciding the price of a product.
How much product do I sell in the market? We call it pricing. If the pricing is right, then the company earns a good profit.
Now let's come to advertising and salesmanship. It will be fun. What is advertising?
It is a process of making the firm and its product known to people in such a manner that the desire to buy the product is credited, is created in them. Advertising seeks to retain existing customers and to attract new customers. It informs and educates people and persuades them to buy a product.
I will tell you the truth. You have to believe the truth. to manna, jab Katrina Act calf, that mango eater was doing ad, you guys saw that slice ad, in which Katrina calf ate mango, i thought that brother, in life i don't want anything else but i want to drink slice mom i want to drink slice so do advertisement like this that customer's mind desire will come customer's mind desire will come why desire desire of consumption will come that i also want slice See ya.
Is it clear? Is it clear? All the kids are understanding, right?
Whatever it was, it was a slice. Now what is salesmanship? It is a process of creating demand through personal contact between the buyer and the seller. It eliminates the gap between the products and the consumer. It provides useful feedback from consumers.
Salesmanship helps to increase sales and satisfy the needs of the customer. Salesmanship means selling the goods. Selling the goods in some way. The first batch of CUT will start on 25th March.
You can enroll. Okay? Salesmanship has come to understand everyone. Sell the goods and satisfy the needs of the customer.
Is it clear? So advertising and salesmanship have come to understand. Next is financing. Finance and credit are the lubricants that facilitates the operation of the marketing machine.
If there is no money, then all these things will be in one corner. What does financing mean? Financing means that money is needed so that the efforts of marketing can be run properly.
A large amount of capital is required for keeping stock and other unmarketing functions. Long term and medium term finance is obtained from shares and debentures and specialized financial institutions. short term finance is provided by Commercial Bank Long term Who will get it?
Shared Ventures And short term We will get it From Commercial Bank About Financing This should be known And at last point Let's come to Then our class will end. Next point is risk taking. What is risk taking? Risk taking means risk means uncertainty of profits or danger of loss due to unknown and unavoidable future events. Several types of risk are involved in the marketing.
Risk bearing in marketing refers to financial risk inherent in the ownership of goods held for sale in anticipation of demand. Risk may also arise due to changes in the demand fall in prices. spoilage in storage etc. A customer has to face a lot of risk in an organization.
It is possible that the goods that he has produced have not been sold in the market. It is possible that the goods that he is selling get spoiled, get dangerous, get theft, the rate in the market gets low, then its profitability will be low. So, a customer has to face this kind of risk and it is not in the balay balay or shawa shawa e-marketing syllabus.
Okay? In e-marketing, if you were asked what would you write? These are the things that are on email, wireless network, internet, TV, that's what they call e-marketing.
You should know. Now see, brother. Yes, you can see.
A kid is asking, if you do a live discussion of sample paper in application, if we miss one low, can we see recorded? Yes, you can see recorded. Now what you have to do, see.
Now you have time from 2 to 5. Go and solve sample paper 1. Do sample paper 1 very well. We will discuss it at 10 at night. We will start accountancy class at 7 pm today What I am going to teach There will be a decoded video of accountancy Let's start from there Please take care of yourself See you soon in the next class Till then keep smiling and keep learning Tomorrow morning class will also be happening at 11.30 or 12.30 On which we will finish the marketing mix These notes can be downloaded from my application For everyone free of cost Available Thank you so much for coming And do share this video with your classmates So that all ISE students Hoseaqe bye-bye thank you so much for joining