The marketers should manage all the types of marketing decisions by taking into account the environmental aspect as well. The marketing decisions should not only be right but they should also be taken at right time. The marketing decisions are mainly divided into four categories. You may also say these categories the different types of marketing decisions taken by the management at the making marketing plans for the products.
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There are number of functions of money that can be seen easily in the business world. But before discussing the functions of money, lets define the money. Money has been defined by different authors in different ways, which is discussed as under:-
Organizations pursue defensive strategies when the circumstances require some sort of adjustments in the structure or functioning of the organization. Three types of strategic Marketing Strategies are regarded as defensive strategies.
Types of Distribution Channels
Before we talk about the various types of distribution channels, it is important to know the distribution channels definition. “The route or the path through which product is transferred from the place of the production the final consumers is known as distribution channels.” You may transferred goods through both direct and indirect ways. A distribution channels may called direct, when the manufacturer supplies the goods directly to the ultimate consumer and uses no intermediaries. Here the marketing functions are carried out by the manufacturer of product by him. If a manufacturer sells the goods to the consumers through one or more than one middlemen, the channel is called indirect channel of distribution. In indirect channel of distribution, the functions of buying, selling, transporting, storing, are undertaken by the middlemen.
Broad environment is the sub category of marketing environments which contains certain forces that have severe effects on the organizations. These forces are known as the forces of broad environments.
Functions of Warehousing means the wide ranges of activities, which are associated with the physical distribution of goods from end of production line to the final consumers. These activities include purchasing of goods, inventory management, storage, materials handling, protective packing and transportation. Warehousing is concerned with the storing function of good and commodities. Warehousing also refers to all the activities which are connected with the safe keeping of goods until they are needed for consumption. In the words of R.E Murphy, “Warehousing is concerned with storing function in the channel of distribution of goods”.
Product core concepts is actually a basic idea behind the development of any product is known as product core concepts. Before talking about product core concepts, lets define the product. Product is defined as anything that has a capability to satisfy a need or want and is offered to a market. It is not limited to physical object. In fact product includes satisfactions or bundles of benefits that customers perceive they will get if they buy the particular product. It is cumulative of all physical, symbolic, psychological & service attributes.
Business finance refers to money and credit employed in business. Finance is the basic of business. It is required to purchase assets, goods, raw materials and for the other flow of economic activities. Business finance can be defined as “The provision of money at the time when it is needed by a business”.
In the words of G.Black “Salesmanship consists of wining the buyer’s confidence for the sellers goods, thereby wining a regular and permanent customer”. With the revolution in the means of transport, the importance of sales functions has further increased. Goods are produced not only for selling in the home market, but also in other different countries of the world. There for manufacturers faces stiff competition. The Success of Business now depends as to how well the goods are sold in the market. Salesmanship thus is a life blood of a business and is an attempt to induce people to buy goods. There is a difference between selling and a salesmanship. Selling in the business refers to the process of transfer of goods or the services to a buyer in exchange of money. On the other hand, salesmanship is the ability to persuade people to buy goods and services. It is an art of persuasion.
TOWS Matrix Definition
The TOWS matrix analysis (Threats-Opportunities-Weaknesses-Strengths) also known as SWOT Analysis. We may also call the TOWS matrix, TOWS Analysis. It is the abbreviation of threats, opportunities, strengths & weaknesses involved in a business venture, project or any other situation that needs a decision, are evaluated with the help of strategic planning tool of TOWS matrix analysis.