Goods and services do not move automatically from the makers to the users. There is a definite mechanism that brings about exchange of goods and services against money or money’s worth for the mutual benefit -namely, satisfaction to the consumers and surplus to the producers and manufactures. Marketing is the process of discovering and translating consumer needs and wants into product and service specifications, creating demand for these products and services and then, in turn, expanding the demand.
Marketing Management signifies an important functional area of business management responsible for the flow of goods and services from the producers to the consumers.
According to Prof.Philip Kotler marketing management is the “analysis, planning, implementation and control of programmes designed to bring about desired exchanges with larger audiences for the purpose of personal or mutual gain. It relies heavily on the adaptation and coordination of product- price- promotion and place for achieving effective response.”
In the case of NeST Foods and Beverage Corporation (Golden Valley), marketing is one of the important departments. The marketing office is located at Stone house in Aluva. The decisions taken by marketing manager. The marketing functions are necessary to take the goods from the place of production to the place of depose and from depose to the wholesalers.
A marketing segment is a meaningful buyer group having similar wants.Hence; segmentation is a consumer oriented marketing strategy. Market segmentation is the process of grouping buyers into different categories having common desires or needs. It is to identify the groups of buyers on the basis of difference in their desires or requirements. Market segmentation process is two- fold namely:
1. Identifying the viable segments or pockets of consumers and 2. Targeting specially designed programmes towards them. Basically, there are three reasons as to why firms go in for market segmentation. These are:
a) Some markets are heterogeneous.
b) Market segments respond differently to different promotional appeals. c) Market segmentation is consistent with the marketing concept. Benefits of market segmentation
1. A more precise definition of the market:
Market segmentation improves organisation’s understanding of why consumers do or do not buy certain products or services.Thus, the firm would be better position to spot and compare marketing opportunities.
2. A more effective marketing programmes:
Understanding the consumers is the first step in planning the appropriate programme to meet their needs. The information gained from market segmentation allows the organisation to plan a systematic and matching market programme that reflects the current market conditions and allows for the future modification. 3. Better assessment of the competition:
Market-segmentation helps in assessing correctly the strength and weaknesses of the competitors. 4. Better allocation of resources:
Once the target segment is clearly defined and identified, the limited resources at the command of the company can be channeled for best results. Thus, promotional campaigns can be coordinated effectively so that the consumers would recognise the promotional appeal quickly and the marketers would minimise the losses resulting from excess exposures. In NeST Foods and Beverage Corporation, market segmentation consists of three section namely, A,B & C.The section ‘A’ includes distributors and immediate bulk orders. ‘B ‘includes premium outlets like Bar, Hotels ect and finally ‘C’ for retailer shops. For normal sustainability and profitability, the company highly concentrates on section A & B.