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Essay / Historical Overview and How Marketing Works
The first form of exchange was known as barter. Modern marketing began in the early 1990s. In the 20th century, the marketing process went through three distinct eras: production, sales, and marketing. In the 1920s, businesses assumed that manufacturing was a seller's market. Product choices were almost non-existent because company executives believed that a superior product would sell itself. This philosophy was possible because the demand for products outlasted the supply. During this period, the company's success was measured entirely in terms of production. (Business Encyclopedia) Marketing in the 1940s and 1950s was very descriptive and concerned with establishing its scope and functions6. The overriding characteristics of the field of marketing were its dependence on economics, which provided the philosophical assumptions of rational choice, functional utility of products, objectivity of the researcher, a single reality and elements separable and independent marketing systems. The main focus was on the company's activities. The consumer was seen as an individual maximizing utility and consciously weighing the costs and benefits of a purchase. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essayQuality, price and durability were considered the most important attributes. Along with these economic hypotheses, researchers have focused on business transactions. The role of marketing was to stimulate and meet demand 7. For example, the American Marketing Association's 1935 definition of marketing was "the performance of business activities that direct the flow of goods and services from producers towards consumers”. Marketing then is a process of providing customers with elements of a potential mosaic from which they, as artists of their own lifestyle, can choose to develop the composition which, at the moment, may seem the best. Marketing is not only an impersonal economic activity, but in addition to its conventional considerations of exchange, buying and selling of values, income, budget, outlets and transportation, it is inevitably intertwined with d other personal and non-economic relationships in society. a clear indication that the paint industry in India is poised for further growth, based on the evolving national and international economic developments. However, such growth is likely to be affected by certain specific problems inherent to local conditions. These problems require in-depth study to provide appropriate corrective mechanisms through which the industry is relieved of the problems of free and equitable growth. The supply of paints in India is limited due to low paint production capacity utilization. Similarly, the limiting factor is the per capita consumption or demand for paints in India. As a result, companies are investing in sophisticated supply chain management tools. Margins remain under pressure due to the more strategic price reduction imposed by the market leader. Companies strive to improve internal efficiency to maintain profits. Pressure from original equipment manufacturers to reduce prices has also been responsible for low profits for paint companies. The performance of the decorative division also depends on precipitation (whichcan lead to severe corrosion). Over the past five years, the country has experienced three years of low rainfall, which has negatively impacted the total paint demand. Therefore, the demand and supply of paints in India needs to be improved by strengthening the existing systems. India has a large number of paint workshops or sales points, more than 50,000. Unlike most developed countries. There are a large number of small paint shops and hardware stores which cater to the local population. The Indian paint industry has more or less equal and highly competitive players in both organized sectors. The unorganized sector is made up of small and medium enterprises (SMEs). Asian Paints, Godless Nerolac, ICI (India), Berger, Jenson & Nicholson and Shalimar are the leading companies in the organized sectors. The threat of global competition is minimal in this industry. Asian Paints Limited dominates the decorative segment, with a market share of 29 percent. Berger paints come next with a 10 percent market share. Nerolac and ICI hold 8 percent shares respectively in this segment, followed by Shalimar. In this regard, it can be said that the sales promotion measures taken by the organized sector units are yet to reach the customers in both the organized and unorganized sectors. Advertising of the paint industry is of no use and that is why the producers in the unorganized sector are targeting the rural consumer. The only impotent thing to examine is that strategic advertising opportunities have not been adequately explored. Brand awareness has almost diminished where it was already low. The brand is far from recognized and there has been a slight increase in sales and the average monthly brand awareness survey. In India, there has been no other marketing and branding strategy as good as that of its Indian competitor. The very chic advertisements also do not resonate much with Indian elites. What they need is something that touches them and doesn't just inform them. It is clear from the above that the paint industry in India is not comfortable in providing the desired services to the target audience, considering the issues discussed above. The paint industry in India, with special reference to Tamil Nadu, based on the objectives enumerated. below. The topic is to execute the effectiveness of Asian Paints marketing strategies. It will help all of its stakeholders to ensure the growth of its market shares as well as to increase its performance. This research will reflect the level of awareness as well as customer feedback and help generate new ideas on future products as well as a product awareness program. it is the opinion of dealers and customers, new paint ideas, new products produced and marketed under the high targeting of Asian paint company. v To study the effectiveness of various sales promotion measures adopted by Asian paint manufacturers and dealers. v Offer a suggestion to improve paint marketing strategies. The researcher reviewed previous studies. Among the reviews carried out, few studies have been carried out on the marketing of consumer goods. Paints and paint products being consumer goods, the research attempted to study the marketing strategies adopted by Asian paints products Ltd, especially in the southern districts of Tamil Nadu. The study determines the marketing strategy adopted by leading Asian paint manufacturers and dealers in the districts. from TamilNadu. The study being descriptive in nature, it aims to analyze the factors influencing the marketing of paint products in the South district. The researcher collected primary and secondary data for the purpose of this study. Primary data was collected directly from the sample respondents including dealers and customers. Using a well-structured interview schedule, data was collected from 15 dealers and 200 customers of Asian Paints. Secondary data was collected from textbooks, magazines, journals and internet sources of a private limited liability Asian paints company. Simple random sampling method is used to collect primary data. Limitation The limitations of the study are as follows: time constraint is one of the limiting factors. A sample limited to 15 dealers and 200 customers was considered as the sampling unit due to time constraints. Types of Sales Promotion Among 200 respondents, 34% of respondents have an opinion on providing samples, 25.5% of respondents have an opinion on the competitions provided, 23.5% of respondents have an opinion on the free coupon and 17% of respondents thought other factors motivated them to purchase Asian paintings. It is therefore clear that the majority of respondents (34%) were motivated by the offer of samples. Advertisement for paints in media Among 200 respondents, 43.5% of respondents watched paint advertisement on TV, 12.5% of respondents watched paint on radio, 15% of respondents in the newspapers. 13% of people interviewed in the magazine. 27% of respondents online. It is therefore clear that the majority of respondents (43.5%) have watched a television advertisement for paints. Advertising media and purchasing performance Among 200 respondents, 43.5% of respondents purchased paintings based on television advertising, 11.5% of respondents through radio advertising, 15% of respondents through advertising in newspapers. 13% of those surveyed via magazine advertising. 27% of respondents via Internet advertising. It is therefore clear that the majority of respondents 43.5% of respondents buy via television advertising Level of advertising and achievement of sales Among 13 respondents, 46% of respondents are very salesy during intense advertising periods, 31% of those surveyed have a moderate level of sales. sales for intensive advertising periods, and 23% of respondents have satisfactory sales for intensive advertising periods. It is therefore clear that the majority of respondents are 46% of respondents are very salesy for intensive advertising periods. A manufacturer sells more products Among the 15 respondents, 26.67% of respondents advertise products, 13.33% of respondents launch sales promotions, 36.67% of respondents do actual destruction and 53.33% of respondents offer financial incentives. It is therefore clear that the majority of the respondents respondents 53.33% of the respondents offer financial incentives The margin on the maximum retail price Among the 15 respondents, 13.33% of the respondents go up to five percent and 86.67 % of respondents range from 6 to 10 percent. So it is clear that the majority of respondents represent 86.67% of respondents, which is 6 to 10 percent. Sales below cost price Among the 15 respondents, 80% of respondents believe that the sale is below cost.