Marketing and Economic

Development

What is Marketing?

Older View – “ Marketing the mere Transfer of Value and Ownership.”

Modern View – “Marketing Begins and Ends in Consumer, with maximum benefits on both the parts. For Consumer it is Satisfaction

and for the Producer it is Profit.

Marketing techniques include choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and advertising a product's value to the customer.

ECONOMIC DEVELOPMENT

Economic development is the sustained, concerted actions of policy makers and communities that promote the standard of living and economic health of a specific area. Economic development can also be referred to as the quantitative and qualitative changes in the economy. Such actions can involve multiple areas including development of human capital, critical infrastructure, regional competitiveness, social inclusion, health, safety, literacy, and other initiatives. Economic development differs from economic growth. Whereas economic development is a policy intervention endeavor with aims of economic and social well-being of people, economic growth is a phenomenon of market productivity and rise in GDP. Consequently, as economist Amartya Sen points out, "economic growth is one aspect of the process of economic development

COMPARITIVE ADVANTAGE

The theory of comparative advantage is an economic theory about the potential gains from trade for individuals, firms, or nations that arise from differences in their factor endowments or technological progress.

COMPARITIVE ADVANTAGE IS ALSO POSSIBLE IN CASE OF INDIVIDUALS ESPECIALLY IN FINDING THE RIGHT PERSON FOR THE JOB. (EFFICIENCY OF LABOUR IN WORKING)

INDIVIDUAL MONDAY TUESDAY

A 2 6

B 4 10

SPECIAL ECONOMIC ZONE

It is a part of Marketing Process done by the government for attracting FDI

The term special economic zone (SEZ) is commonly used as a generic term to refer to any modern economic zone. In these zones business and trades laws differ from the rest of the country. Broadly, SEZs are located within a country's national borders. The aims of the zones include: increased trade, increased investment, job creation and effective administration.

QIANJIANG ECONOMICS DEVELOPMENT AREA:

1. HONGCHU SPECIAL ECONOMIC ZONE (LARGEST ECONOMIC ZONE IN CHINA)

2. ENERGY SAVING, IT, MODERN SERVICES, MEDICAL CARE

3. COMPANIES LIKE APPLE, MERCEDES, BMW, TATA, ETC HAVE THERE LINKS IN THESE ZONES.

4. A-DEC OWNS 55% MARKET SHARE OF US COMPANIES.

In India at present there are 196 Operational SEZ.

sezindia.nic.in

Product Mix Price Mix

Promotion Mix

Place Mix

Product Mix

• Product Variety

• Quality• Design • Package• Brand Name• Warranty• Service

Promotion Mix

• Advertising • Personal

Selling• Sales

promotion• Public

Relations• Direct

Marketing

Price Mix

• List Price• Discounts• Allowance• Credit Terms• Payment

Period

Which is the largest Advertising Media for the

developing countries?

Print media

Which is the Largest Advertising Media for the Developed Country?

Internet

Around 17% Budget is allocated for advertisement. A 400% raise for

Internet advertisement and a 62% decrease for Print Media ADs

MARKET FORCES

There are Three Key Market Forces:

1. AGGLOMERATION:- A group of things put together in no particular order or arrangement.

2. MOBILITY AND MIGRATION

3. SPECIALIZATION AND TRANSPORTATION