Page 7 - MARKETING & PUBLIC RELATIONS EBOOK IC88

 The product orientation which foccused on maximizing production, the emphasis
being on large capacities and large turnover and therefore, low unit cost.
 The sales orientation which aimed to maximoze sales. Through the offer of
discounts, heavy promotion campaigns and publicity.
 The market orientation helped to add value by finding a better match between
product and needs, cut costs through more effective distribution arrangements.

5. On line market
 The development of the internet as a means of communication since the late
twentieth century has made it possible for the producer and the buyer to meet in
cyberspace, nullifying the dimensions of time and physical space, and to negotiate a
deal.
 Studies indicate that the digital commerce market in India had grown from US$ 4.4
billion to US$ 13.6 billion in 2014 and was likely to grown to US$ 100 billion by 2020.
 The number of smart phones is likely to go up by 15% per year for the next five
years.
 The growth of the online market at 37% CAGR between 2009 and 2014 is exciting.
 There have been some Unicorns, which have touched $1 billion in sales within short
periods.

6. Marketing and selling
 Marketing concepts recognise the validity of the attempts to increase sales through
advertising and publicity, including price reduction and gift offers.

D. Market segmentation

1. Segment
 The word market refers to the collective of existing and potential customers for a
product or products of an organisation. The market, which is the total collective,
comprise of various groups, when differentiated on the basis of factors relevant to
the purchase or use of the product.
 A segment is a discrete, identifiable, viable, and appropriate part of the market,
having characteristics of purpose, needs, motivations, and behaviour distinctly
different from other organisation.
 Market segmentation is the process of disaggregating the total market into a
number of sub markets, in such a way that each of these sub-markets shares one or
more common characteristics relavent to the purchase.
 All people who have to stay outside their usual residence are not prospective
customers for all hotels.
 Organisation may offer more than one product. Each of those products would cater
to more than one segment of the market.

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